1. The operations strategy for an organization: a. must fit within the overall b
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Question
1. The operations strategy for an organization:
a. must fit within the overall business strategy and does not impact other functional strategies.
b. is developed before the overall business strategy and other functional strategies.
c. is independent of the other functional strategies such as those of marketing and finance.
d. takes priority over other functional strategies such as those of marketing and finance.
e. must fit within the overall business strategy and link with other functional strategies.
2. Quality is defined as:
a. having the ability to produce products and services with minimal defects.
b. conducting focus groups to understand the needs of the customer.
c. consistently producing products and services that meet financial projections.
d. producing products and services that have zero defects.
e. consistently producing products and services that meet or exceed customer needs.
3. This type of innovation typically refers to a product modification that allows improved performance and benefits without changing either consumption patterns or behavior.
a. radical innovation
b. disruptive innovation
c. continuous innovation
d. blue ocean strategy
e. life cycle innovation
4. In the service process matrix the service factory is categorized by:
a. low customer involvement and high labor intensity.
b. low customer involvement and low labor intensity.
c. high customer involvement and high labor intensity.
d. high customer involvement and low labor intensity.
e. None of the above.
5. Qualitative forecasting methods are used when:
a. no quantitative data are available.
b. historical data is available.
c. the forecast time horizon is short term.
d. the forecast time horizon is long term.
e. the relationships between variables is known.
Explanation / Answer
1. The operations strategy for an organization:
e. must fit within the overall business strategy and link with other functional strategies.
If the operations strategy does not integrate itself with other functional strategies then there shall be no point in strategizing an operations strategy as it shall only lead to internal conflicts in an organization. Hence the operations strategy needs to complement the overall business strategy and should have the potential to integrate itself with other functional strategies.
2. Quality is defined as:
d. producing products and services that have zero defects.
In order to improve quality in manufacturing and service industry, quality could be defined as products and services having zero defects which is actually a cost reduction and waste revel reduction program to ensure the quality in the process and delivery.
3. This type of innovation typically refers to a product modification that allows improved performance and benefits without changing either consumption patterns or behavior.
c. continuous innovation
Continuous product innovation concentrates all its resources towards meeting performance and with timely position of the same in the given market, the Company can continue enjoying a competitive edge over the other players in the industry even without changing either consumption patterns or behavior. Survival hence has become more feasible with continuous product innovation.
4. In the service process matrix the service factory is categorized by:
c. high customer involvement and high labor intensity.
In case of the service process matrix, the customers are more involved into taking the customized buying decisions for a service. With such an involvement in place, the service factory also calls for higher labor intensity. However, in the process of creating more value to the customers, higher labor intensity also results into higher inefficiencies which ultimately results in the hike of the cost of delivery.
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