BUAD 331 Final Exam Questions & Answers(RATED A)

Ways Organizations Create Value - ANSWEROrganizations create value by shaping the product (form utility), delivering it at the right time (time utility), and placing it where it's needed (place utility). Cost Leadership - ANSWERProviding products or services at the lowest cost. Differentiation - ANSWEROffering unique and high-quality products. Responsiveness - ANSWERQuickly adapting to changes in demand and customer needs. ROA Definition - ANSWERReturn on Assets is a financial metric that measures how efficiently a company uses its assets to generate profit. Traditional Strategic Alignment - ANSWERTraditional strategic alignment refers to the conventional approach of aligning business strategies with the functional departments within an organization Supply Chain Operations Reference (SCOR) Model - ANSWERThe SCOR Model is a framework that provides a standardized set of metrics, processes, and best practices for evaluating and improving supply chain operations. Key Components of SCOR - ANSWERPlan, Source, Make, Deliver, Return, Enable. Traditional Functional Structure - ANSWERSiloed approach with separate departments managing specific functions. Bending the Chain - ANSWERAligning activities across the supply chain for holistic optimization. Key Element of Internal Integration - ANSWERManagers need to understand their role in aligning complex activities across the supply chain to provide value with minimum cost and optimal asset commitment Range of Options - ANSWERRecognizing that different customer segments may prioritize different aspects of value (Ex, some may prioritize speed, some customization). Right-sizing Service - ANSWER● Determining the appropriate level of service for each