MGT 8803 BUSINESS STRATEGY ACTUAL TEST PAPER COMPLETE SOLUTION VIEW AHEAD

MGT 8803 BUSINESS STRATEGY ACTUAL
TEST PAPER COMPLETE SOLUTION VIEW
AHEAD

●● Medium Term Decisions
Answer: Tactical, planning
-lean
-Sales & operations planning
-inventory management


●● Short Term Decisions
Answer: Operational, execution
-people
-equipment
-product


●● Operations and Supply Chain Management
Answer: focuses on how to develop capabilities to design, produce, and
deliver products and services in a competitive market


●● Capabilities that Drive Performance
Answer: -products & service features

,-costs
-quality
-time to market
-ability to innovate


●● Supply Chain Processes
Answer: -plan
-source
-make
-deliver
-return
-engage


●● Consequences of Poor Supply Chain
Answer: -loss of productivity
-customer complaints
-Increased costs
-loss of revenue
-damage to brand


●● Top 5 Challenges
Answer: -hiring qualified workers

, -customer demands for lower costs/pricing
-customer demands for faster response times
-increasing competitive intensity, rising customer expectations
-forecasting


●● Efficient Supply Chain
Answer: cost focus
-high capacity
-high turns
-reduce lead time if it doesn't increase cost
-select cost and quality
-low cost modes


●● Responsive Supply Chain
Answer: speed focus
-low capacity
-safety stock; excess inventory
-reduce lead time aggressively
-select speed
-fast/speedy modes


●● Functional Products