OPMA 3306 Chapter 2(A+ Guaranteed Answers)
The firm's strategy describes? correct answers How it will create and sustain value for its current
shareholders.
The goal of sustainability means that? correct answers The scope of the firm's strategy must focus on
three areas (the triple bottom line)
1- Economic
2- Social
3- Environmental
What is economic when it comes to sustainable strategy? correct answers Shareholders must be
compensated via a competitive return
What is social when it comes to sustainable strategy? correct answers Business practices should be fair to
labor, the community, and the region where the firm conducts business
What is environmental when it comes to sustainable strategy? correct answers The company should
protect the environment as much as possible
What is operations and supply chain strategy? correct answers Setting broad policies and plans for using
the resources of a firm - must be integrated with corporate strategy
What is corporate strategy? correct answers This strategy provides overall direction and coordinates
operational goals with those of the larger organization
What is operations effectiveness? correct answers Performing activities in a manner that best implements
strategic priorities at a minimum cost
What are the competitive dimensions? correct answers 1- Price
2- Quality
3- Delivery speed
4- Delivery reliability
The firm's strategy describes? correct answers How it will create and sustain value for its current
shareholders.
The goal of sustainability means that? correct answers The scope of the firm's strategy must focus on
three areas (the triple bottom line)
1- Economic
2- Social
3- Environmental
What is economic when it comes to sustainable strategy? correct answers Shareholders must be
compensated via a competitive return
What is social when it comes to sustainable strategy? correct answers Business practices should be fair to
labor, the community, and the region where the firm conducts business
What is environmental when it comes to sustainable strategy? correct answers The company should
protect the environment as much as possible
What is operations and supply chain strategy? correct answers Setting broad policies and plans for using
the resources of a firm - must be integrated with corporate strategy
What is corporate strategy? correct answers This strategy provides overall direction and coordinates
operational goals with those of the larger organization
What is operations effectiveness? correct answers Performing activities in a manner that best implements
strategic priorities at a minimum cost
What are the competitive dimensions? correct answers 1- Price
2- Quality
3- Delivery speed
4- Delivery reliability
