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of the following statements is incorrectm s Onetional capabilities must be built

ID: 360009 • Letter: O

Question

of the following statements is incorrectm s Onetional capabilities must be built before a fim ability to achijeve market and finacal ucure over competitors is caled competitive advantage b The ability to achievet be built before a firm should identify competitive priorities managers can make strategic bile it is generally difficult to change the choices about technology and human d. The customer benefit package firm customets e Traditional market research always buman resources may not always provide accurate information about customer needs hot a category in the Baldrige Performance Excellence Model ckthat a fim designs is nomally meant to appeal to a targeted group of 39. One of the following is a Leadership bStrategic Planning c Customer Focus d. Workforce Focus e. Financial Planning in the A. Time Efficiecywing is ot generally considered a competitive priority? b. Flexibility s Innovation Infrastructure e. Quality/Cost 41. Which one of the following statements is fals? a. Service encounters can be between a customer and a machine such as an ATM b. High customer contact systems generally have high process etticiency c. A hotel room is a perishable asset dThe demand for services is time-de e. Service normally involves an intangible product pendent, especially over the short term 42. Which one of the following statements is falss? a. In some "service" business such asafast food restaurant the goods content can be qu b. A service is any primary or complementary activity e. Some very significant between operations function. d. Designing and organization. réstaurant, the goods content can be quite high directly produce cant ditferences exist between goods and services that create different demands on the managing operations in a goods-producing firm is quite similar to that in a service-providing companies rren Customer Satisfaction Index (ASCD shows consumers tend to rate a higher satisfaction with companies producing goods rather than companies offering services 43 Which of the following is nat true regarding the differnces berwecen a. Demand for services is casier to forecast b. Customers participate in many services e. Services cannot be stored as physical inventory d. Patents do not protect services e. The service sectors dominate the U.S economy when compared to the

Explanation / Answer

38)

Answer b) The ability to achieve market and financial superiority over competitor is competitive advantage.

The above statement is incorrect because competitive advantage is to provide a value add/ benefit to it's customer/consumer which is differenciated and cannot be matched by the competitors.

Market share and having financial superiority are not a competitive advantage but can be a result because of having a competitive advantage. A better design or a cost-effective production system or better serviceablity can be a competitive advantage what the competitors can't offer. The value addition should be in terms of customer not in terms of the company.

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