Cost competitiveness - Study guides, Class notes & Summaries

Testbank questions Chapter 02 & 03 Innovation Strategy and Identifying Strategic Capabilities Correct answers are indicated with a * 1. Four factors have a major influence on the ability of a firm to develop and create value through innovation. Which of the following is not one of these factors? a) Its ability to identify and exploit external sources of innovation, especially international networks. *b) Its ability to invest in basic science and technology. c) Its power and market pos...

SCMN 2150 Brian Gibson test 1 Questions and Answers Already Passed What is Supply Chain Management? the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Competi...

The most/essential results from the latest decision round that company managers need to review/study in order to guide their strategic moves and decisions to improve their company's overall performance and competitiveness vis-a-vis rivals in the upcoming decision round are - Answer- Comparative competitive efforts section of the competitive intelligence report for each of the four geographic regions Pursuing a strategy of social responsibility and corporate citizenship - Answer- helps increa...

What is Supply Chain Management? : the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) : It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Competitive advantage: : requires delivering more value and satisfaction t...

Quality is best defined as Blank______. - the excellence of a product, whether it be goods or services The introduction of new goods and services is known as Blank______. - innovation Select the components that are part of total quality management. (Select every correct answer.) - preventing defects before they occur,achieving zero defects in manufacturing,designing products for quality,operating with a philosophy of continuous improvement Blank______ across boundaries occurs even beyon...

Operations Management correct answers the processes that effectively produce transform, and deliver a product or service designing, activation and improving processes *each and every business function must manage its own operations *HOW THIS GET DONE Effective OM and SCM correct answers use resources more efficiently -improve business processes effectiveness -improve relationships btw business entities -help meet strategic goals -increase customer service OM (how things get do...

A firm has achieved ______ when it successfully formulates and implements a valuecreating strategy. : strategic competitiveness A competitive advantage: : can be identified when competitors are unable to duplicate or find it too costly to try to imitate. Above-average returns are; : returns in excess of what an investor expects to earn from other investments with a similar level of risk. The strategic management process is : the formulation and implementation of a full set of commitm...

Strategic Management correct answers the study of why some firms outperform others Mission correct answers statement explaining why a company exists. both internal and external. No time frame. Vision correct answers Crystallization of what leaders want firm to be. Guides development of strategy and organization. achievable within a time period. Internal except for slogans. Goals/ Strat. Plan correct answers How to beat present and potential competitors. Set of actions to provide product...

Logistics Management - ANSWERis the part of SCM that plans, implements, and controls the efficient, effective, forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customer requirements Supply Chain Management - ANSWERthe management of upstream and downstream relationships with suppliers and customers in order to deliver superior customer value at less cost to the supply chain as a whole C...

supply chain management correct answers the "art" of managing the flow of materials and products, info, and financial resources from source to user what is the order of the supply chain cycle? correct answers suppliers -> manufacturers -> distributors -> retailers -> consumers who is the most important participant in the supply chain? correct answers consumer how are greater profits achieved? correct answers by achieving higher sales at lower costs what are the 7 rights...