Operations Now Supply Chain Profitability and Performance 3rd Edition By Byron J.Finch -Test Bank
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Sample
Test
c3
Student: ___________________________________________________________________________
1. B2C
and B2B customers often value products and services differently.
True False
2. Service-oriented
supply chains often consume materials.
True False
3. It is
not possible for two head-to-head competitors to share customers and suppliers
as well.
True False
4. Customer’s
perception of value depends on the types of business outputs being produced and
on the type of customer buying them.
True False
5. Convenience,
along with price, is likely to be an important value attribute for many busy
college students.
True False
6. Businesses
routinely seek to attract customers that place a high priority on certain
attributes.
True False
7. Environmental
forces can have a strong influence on a businesses strategy.
True False
8. Costs
are always the most important of the components of value.
True False
9. A
company’s strategy is not necessarily what it publicly says it is.
True False
10. The
focus strategy often seeks a small portion of the broad market.
True False
11. The
capacity of the service or manufacturing can dictate the degree of integration
and the emphasis placed on developing business partners.
True False
12. For
any facility, whether it be a factory or a service business, cost per unit is
at its lowest when the production or service rate matches the design capacity.
True False
13. Processes
can be viewed as the components of capabilities, just as small parts are the
components of finished products.
True False
14. Order
qualifiers are necessary and sufficient to win a customer.
True False
15. For
many desk-top computer products, service-oriented attributes have become order
winners.
True False
16. Which
of the following is not a component of the supply chain network?
A. Converters
B. Fabricators
C. Assemblers
D. Marketers
E. Customers
17. Which
of the following statements is not true about supply chains today?
A. A more global economy has led to outsourcing of components and products
to reduce costs and add focus.
B. Firms are much more prone to outsourcing material and service needs,
resulting in a supply chain that involves many different businesses and many
more relationships,
C. Supply chains are always vertical arrangements of buyers and suppliers
that start at the basic producer level and ultimately ended at the consumer.
D. It is possible for two head-to-head competitors to share suppliers and
customers as well.
E. Firms no longer have an overall goal of owning the entire supply chain,
18. Which
of the following IS NOT a reason why some firms outsource?
A. To enhance value
B. To help focus on core capabilities
C. To maintain tighter control of their processes
D. Because outsourcing can be cheaper than producing in house.
19. Which
of the following is not likely to be a value attribute for a business customer?
A. Cost
B. Personalization
C. Quality
D. Dependability of delivery
20. In a
“make or buy” decision, businesses must recognize that:
A. The buy decision will be more expensive because the supplier will
include profit in the price.
B. Price is the only component of value that will matter
C. Costs associated with gearing up to produce a product or service in
house might make it more financially attractive to outsource.
D. No financial return should be expected from money spent on in-house
production
21. Which
of the following IS NOT associated with consumer customers’ perception of
value?
A. Cost
B. Convenience
C. Technology
D. Personalization
E. All of the above
22. Style
and fashion, a value attribute of consumer customers, is prevalent in:
A. The apparel industry
B. The sporting goods industry
C. The stereo and sound equipment industry
D. All of the above
23. The
value attribute for business customers that tends to be more service-related,
even if what they are buying is a product, is:
A. Product reliability
B. Dependability of delivery
C. Quality
D. Personalization
24. Which
of the following statements is true about value attributes?
A. If every alternative product or service possesses the same value
attribute, that attribute is no longer an important part of the purchase
decision process.
B. Value attributes associated with services are completely separate from
the value attributes associated with products.
C. Value attributes for business customers are the same as those for
consumer customers.
D. “Value conscious” customers care more about value than other customers.
25. A
strategy that provides a link between what each business function does and what
the business is supposed to do is referred to as a:
A. Corporate Strategy
B. Business Strategy
C. Functional Strategy
D. Focus Strategy
26. A
business’s strengths are often called its
A. Order winners
B. Core competencies
C. Order qualifiers
D. Strategy
E. None of the above
27. Porter’s
three strategy categories include:
A. Cost leader
B. Differentiation
C. Quality
D. A and B
E. A, B, and C
28. Which
of the following statements is true about a business strategy?
A. The success or failure of a business strategy cannot be judged by the ability
of the business to attract the customers it targeted.
B. The business strategy seeks to identify the general basis on which the
business will compete.
C. A successful business strategy must evolve from learning about the
market and capabilities and finding a small match that no one else has.
D. None of the above.
29. Which
of the following statements is not true about operations strategy?
A. For an operations strategy to be effective, the strategy must
prioritize value attributes.
B. Effective operations strategy can provide a substantial boost to all
measures of profitability.
C. The competitive power of effective operations strategy has been
recognized since the 1980s.
D. Operations strategy attempts to identify which customers to target and
how to best appeal to them through resource decisions that provide the
necessary support.
30. Which
of the following would probably not be decisions that are part of a supply
chain strategy?
A. Supply chain services outsourcing decisions
B. Make or buy decisions
C. Logistics network decisions
D. Core competency decisions
E. None of the above
31. The
process of maintaining vigilance for new threats and opportunities for the
business is known as
A. Logistic network design
B. Identifying core competencies
C. Environmental scanning
D. Globalization of the firm
E. None of the above
32. Structural
decisions:
A. Relate to such tangibles as buildings, equipment and how the business
links to other businesses.
B. Do not include “brick and mortar” issues.
C. Relate to systems used to enhance the utilization of structural
resources.
D. All of the above
33. Which
of the following statements is not true about capacity?
A. Capacity decisions determine output capabilities
B. Capacity is generally defined in terms of an output rate
C. All five competitive priorities can be linked to capacity
D. For any facility, cost per unit is at its lowest when the production or
service rate exceeds the design capacity
34. Which
of the following statement is true about protective capacity?
A. Protective capacity is a layer of capacity above that which is
absolutely required to meet known demand
B. Protective capacity provides the firm with the ability to compete with
a focus strategy.
C. Protective capacity does not result in idle resources
D. Protective capacity is essential for all businesses due to uncertain
demand patterns
35. The
competitive priority that is affected most substantially by performance/reward
system decisions is:
A. Flexibility
B. Cost
C. Dependability of delivery
D. Response time
36. The
competitive priority that is affected most by strategic organization systems
decisions is:
A. Flexibility
B. Response time
C. Quality
D. Both A and B
E. Both B and C
37. Value
attributes that result in a particular customer making a purchase decision are
referred to as:
A. Order qualifiers
B. Order winners
C. Order snatchers
D. Order retainers
E. Order takers
38. In a
mature market, price is often an:
A. Order qualifier
B. Order winner
C. Order snatcher
D. Order retainer
E. Order taker
39. A statement
of what a business does, what its values are, who its market is, and why is
known as
A. A business strategy
B. A functional strategy
C. A mission statement
D. A values statement
40. The
creation of product value begins with _______ _________ and ends with the
______ of a consumer product.
________________________________________
41. All
product-oriented supply chains require _____ _______. All service-oriented
supply chains ______ _______.
________________________________________
42. Traditionally,
supply chains were considered _______ arrangements of buyers and suppliers that
started at the basic producer level and ultimately ended at the consumer.
________________________________________
43. At
Archer Daniels Midland, _____ is defined by the ________, the ultimate judge.
________________________________________
44. The
______ that performs no value-adding function and merely links customers to
suppliers is becoming _______.
________________________________________
45. While
the value attributes are what the _________desires, the components of value are
what the ________ uses to create them.
________________________________________
46. A
_______ is the pattern of decisions an organization adopts in order to link
resource decisions to goals.
________________________________________
47. Porter’s
three strategy categories include _________, ________, and ________.
________________________________________
48. The
focus strategy seeks a ______ portion of a ______ market segment.
________________________________________
49. For
any facility, cost per unit is at its _____ when the production or service rate
matches the design capacity.
________________________________________
50. _______
capacity provides the firm the ability to handle occasional problems that come
up and also gives them the ability to handle a special request.
________________________________________
51. In
today’s economy, services have become a very viable ______ _______ for many
product purchasing decisions.
________________________________________
52. Match
these items.
A. A layer of capacity above what is required.
B. The second state of product value creation.
C. A strategy that establishes the link between functional decisions and
business strategy.
D. The capacity a facility is designed to accommodate ongoingly
E. A characteristic product or service characteristic that is most important.
F. The path of value creation, from basic producer to consumer.
___ 1. Converter
___ 2. Functional strategy
___ 3. Order winner
___ 4. Design capacity
___ 5. Supply chain
___ 6. Protective capacity
53. Why
is it necessary for businesses in the same competitive environment to
differentiate themselves on the basis of the value attributes they provide?
Provide specific examples of two competitive services that use different value
attributes to differentiate themselves from each other. How do the consumer
customers view these value attributes?
54. Identify
two service businesses that your frequently visit. One of these businesses uses
Internet technology extensively while the other does not. Is there a difference
in value attributes offered by these two businesses? Are the attributes you
deem very important offered by both these businesses?
c3 Key
1. B2C
and B2B customers often value products and services differently.
TRUE
Finch – Chapter 03 #1
Level: Easy
2. Service-oriented
supply chains often consume materials.
TRUE
Finch – Chapter 03 #2
Level: Medium
3. It is
not possible for two head-to-head competitors to share customers and suppliers
as well.
FALSE
Finch – Chapter 03 #3
Level: Medium
4. Customer’s
perception of value depends on the types of business outputs being produced and
on the type of customer buying them.
TRUE
AACSB: Diversity
Finch – Chapter 03 #4
Level: Medium
5. Convenience,
along with price, is likely to be an important value attribute for many busy
college students.
TRUE
Finch – Chapter 03 #5
Level: Easy
6. Businesses
routinely seek to attract customers that place a high priority on certain
attributes.
TRUE
Finch – Chapter 03 #6
Level: Medium
7. Environmental
forces can have a strong influence on a businesses strategy.
TRUE
Finch – Chapter 03 #7
Level: Easy
8. Costs
are always the most important of the components of value.
FALSE
Finch – Chapter 03 #8
9. A
company’s strategy is not necessarily what it publicly says it is.
TRUE
Finch – Chapter 03 #9
Level: Medium
10. The
focus strategy often seeks a small portion of the broad market.
FALSE
Finch – Chapter 03 #10
Level: Medium
11. The
capacity of the service or manufacturing can dictate the degree of integration
and the emphasis placed on developing business partners.
TRUE
Finch – Chapter 03 #11
Level: Medium
12. For
any facility, whether it be a factory or a service business, cost per unit is
at its lowest when the production or service rate matches the design capacity.
TRUE
Finch – Chapter 03 #12
Level: Medium
13. Processes
can be viewed as the components of capabilities, just as small parts are the
components of finished products.
TRUE
Finch – Chapter 03 #13
Level: Medium
14. Order
qualifiers are necessary and sufficient to win a customer.
FALSE
Finch – Chapter 03 #14
Level: Medium
15. For
many desk-top computer products, service-oriented attributes have become order
winners.
TRUE
Finch – Chapter 03 #15
Level: Medium
16. Which
of the following is not a component of the supply chain network?
A.Converters
B. Fabricators
C. Assemblers
D. Marketers
E. Customers
Finch – Chapter 03 #16
Level: Medium
17. Which
of the following statements is not true about supply chains today?
A.A more global economy has led to outsourcing of components and products to
reduce costs and add focus.
B. Firms are much more prone to outsourcing material and service needs,
resulting in a supply chain that involves many different businesses and many
more relationships,
C. Supply
chains are always vertical arrangements of buyers and suppliers that start at
the basic producer level and ultimately ended at the consumer.
D. It is possible for two head-to-head competitors to share suppliers and
customers as well.
E. Firms no longer have an overall goal of owning the entire supply chain,
Finch – Chapter 03 #17
Level: Difficult
18. Which
of the following IS NOT a reason why some firms outsource?
A.To enhance value
B. To help focus on core capabilities
C. To
maintain tighter control of their processes
D. Because outsourcing can be cheaper than producing in house.
Finch – Chapter 03 #18
Level: Medium
19. Which
of the following is not likely to be a value attribute for a business customer?
A.Cost
B. Personalization
C. Quality
D. Dependability of delivery
Finch – Chapter 03 #19
Level: Medium
20. In a
“make or buy” decision, businesses must recognize that:
A.The buy decision will be more expensive because the supplier will include
profit in the price.
B. Price is the only component of value that will matter
C. Costs
associated with gearing up to produce a product or service in house might make
it more financially attractive to outsource.
D. No financial return should be expected from money spent on in-house
production
AACSB: Analytic
Finch – Chapter 03 #20
Level: Medium
21. Which
of the following IS NOT associated with consumer customers’ perception of
value?
A.Cost
B. Convenience
C. Technology
D. Personalization
E. All
of the above
Finch – Chapter 03 #21
Level: Medium
22. Style
and fashion, a value attribute of consumer customers, is prevalent in:
A.The apparel industry
B. The sporting goods industry
C. The stereo and sound equipment industry
D. All
of the above
Finch – Chapter 03 #22
Level: Easy
23. The
value attribute for business customers that tends to be more service-related,
even if what they are buying is a product, is:
A.Product reliability
B. Dependability
of delivery
C. Quality
D. Personalization
Finch – Chapter 03 #23
Level: Medium
24. Which
of the following statements is true about value attributes?
A.If
every alternative product or service possesses the same value attribute, that
attribute is no longer an important part of the purchase decision process.
B. Value attributes associated with services are completely separate from
the value attributes associated with products.
C. Value attributes for business customers are the same as those for
consumer customers.
D. “Value conscious” customers care more about value than other customers.
Finch – Chapter 03 #24
Level: Difficult
25. A
strategy that provides a link between what each business function does and what
the business is supposed to do is referred to as a:
A.Corporate Strategy
B. Business Strategy
C. Functional
Strategy
D. Focus Strategy
Finch – Chapter 03 #25
Level: Easy
26. A
business’s strengths are often called its
A.Order winners
B. Core
competencies
C. Order qualifiers
D. Strategy
E. None of the above
Finch – Chapter 03 #26
Level: Medium
27. Porter’s
three strategy categories include:
A.Cost leader
B. Differentiation
C. Quality
D. A
and B
E. A, B, and C
Finch – Chapter 03 #27
Level: Medium
28. Which
of the following statements is true about a business strategy?
A.The success or failure of a business strategy cannot be judged by the ability
of the business to attract the customers it targeted.
B. The
business strategy seeks to identify the general basis on which the business
will compete.
C. A successful business strategy must evolve from learning about the
market and capabilities and finding a small match that no one else has.
D. None of the above.
Finch – Chapter 03 #28
Level: Difficult
29. Which
of the following statements is not true about operations strategy?
A.For an operations strategy to be effective, the strategy must prioritize
value attributes.
B. Effective operations strategy can provide a substantial boost to all
measures of profitability.
C. The competitive power of effective operations strategy has been
recognized since the 1980s.
D. Operations
strategy attempts to identify which customers to target and how to best appeal
to them through resource decisions that provide the necessary support.
Finch – Chapter 03 #29
Level: Difficult
30. Which
of the following would probably not be decisions that are part of a supply
chain strategy?
A.Supply chain services outsourcing decisions
B. Make or buy decisions
C. Logistics network decisions
D. Core
competency decisions
E. None of the above
Finch – Chapter 03 #30
Level: Easy
31. The
process of maintaining vigilance for new threats and opportunities for the
business is known as
A.Logistic network design
B. Identifying core competencies
C. Environmental
scanning
D. Globalization of the firm
E. None of the above
Finch – Chapter 03 #31
Level: Easy
32. Structural
decisions:
A.Relate
to such tangibles as buildings, equipment and how the business links to other
businesses.
B. Do not include “brick and mortar” issues.
C. Relate to systems used to enhance the utilization of structural
resources.
D. All of the above
Finch – Chapter 03 #32
Level: Easy
33. Which
of the following statements is not true about capacity?
A.Capacity decisions determine output capabilities
B. Capacity is generally defined in terms of an output rate
C. All five competitive priorities can be linked to capacity
D. For
any facility, cost per unit is at its lowest when the production or service
rate exceeds the design capacity
Finch – Chapter 03 #33
Level: Medium
34. Which
of the following statement is true about protective capacity?
A.Protective
capacity is a layer of capacity above that which is absolutely required to meet
known demand
B. Protective capacity provides the firm with the ability to compete with
a focus strategy.
C. Protective capacity does not result in idle resources
D. Protective capacity is essential for all businesses due to uncertain
demand patterns
Finch – Chapter 03 #34
Level: Difficult
35. The
competitive priority that is affected most substantially by performance/reward
system decisions is:
A.Flexibility
B. Cost
C. Dependability of delivery
D. Response time
Finch – Chapter 03 #35
Level: Medium
36. The
competitive priority that is affected most by strategic organization systems
decisions is:
A.Flexibility
B. Response time
C. Quality
D. Both
A and B
E. Both B and C
Finch – Chapter 03 #36
Level: Medium
37. Value
attributes that result in a particular customer making a purchase decision are
referred to as:
A.Order qualifiers
B. Order
winners
C. Order snatchers
D. Order retainers
E. Order takers
Finch – Chapter 03 #37
Level: Easy
38. In a
mature market, price is often an:
A.Order qualifier
B. Order
winner
C. Order snatcher
D. Order retainer
E. Order taker
Finch – Chapter 03 #38
Level: Medium
39. A
statement of what a business does, what its values are, who its market is, and
why is known as
A.A business strategy
B. A functional strategy
C. A
mission statement
D. A values statement
Finch – Chapter 03 #39
Level: Medium
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