Questions and Correct
Answers | New Update
Which of the following is/are true? - ANSWER ✔✔1) SWOT can be
seen as the link between organizational and operational strategy
2)SWOT analysis has both an internal and an external focus
Time-Based strategies - ANSWER ✔✔Reduce costs by reducing the
time required to complete tasks.
Competitiveness defines how efficiently an organization meets the wants
and needs of _____ relative to others that offer similar goods or
services. - ANSWER ✔✔Customer
, Strategy Formulation - ANSWER ✔✔1) Link Strategy to the
organization's mission or vision statement
2) Assess SWOT and identify core competencies
3) Identify order winners and order qualifiers.
4)Select one or two strategies.
Operations decision areas - ANSWER ✔✔1) Product and Service
Design (Costs, quality, liability, and environmental issues)
2) Capacity (Cost structure, flexibility)
3) Process selection and layout (Costs, flexibility, skill, level needed,
capacity)
4) Location (Costs, visibility)
5) Quality (Ability to meet or exceed customer expectations)
Tactics - ANSWER ✔✔The methods and actions taken to accomplish
strategies
Business organizations compete through some combination of which of
the following? - ANSWER ✔✔1)Product/ service differentiation
2)Delivery time
3) Price