ISQS 3344 EXAM 1 QUESTIONS AND ANSWERS
1. What are Core competencies?: Firm's areas or utmost proficiency that delivers a justifiable competitive
advantage in marketplace or service environment
2. Difference between long-range forecasts to short-range forecasts: Forecasting is
the process of identifying the future oriented needs or demands for the purpose of planning and implementing the
plans ettectively. The forecasting can be classified into two which includes the short term forecasting and the long term
forecasting.
Short term forecasting is the approach of forecasting for meeting the short term objectives. The short term objectives will
be the objectives set for less than one year. In short term forecasting the current situations and the frequent or the
sudden changes in the business environment has to be considered in particular. The current political or the economic
issues can certainly impact the business within a year of time and hence the current situation gets the priority.
In long term forecasting, the long term objectives of the organizations are met. This forecasting will be performed
considering the long term benefits and the objectives of the organization like the organization reputation, customer
loyalty etc.
3. A six-month moving average forecast is generally better than a three-month
moving average forecast if: if demand is rather stable
4. A fundamental distinction between trend projection and linear regression
is: in trend projection the independent variable is time; in linear regression the independent variable need not be
time but can be any variable with explanatory value
5. What is exponential smoothing forecast?:
6. What is matrix organization?: A matrix organization is an organizational structure in which the
relationship of the roles is set up in a grid or matrix. The traditional hierarchy is disregarded in the matrix structure.
Employees have dual relationship both to the functional and product manager.
7. A project manager is interested in crashing a project with variable activity
times, what tool can he/she use: PERT
,8. What is Experience differentiation?: Experience ditterentiation is an extension of product ditter-
entiation, accomplished by usingpeople's five senses to create an experience rather than simply providing a service.
9. Cost minimization is an appropriate strategy in which stage of the product life
cycle?: Declines
10. Cost cutting in international operations can take place because of?: 1. Lower
taxes and taritts
, 2. Lower wage scales
3. Lower indirect labor costs
4. Less stringent regulation
11. Before establishing and implementing strategy, a resources view would
ensure which resources are available?: 1. Financial
2. Physical
3. Human
4. Technological
12. Eli Whitney, in the nineteenth century, provided the foundations for what?: -
interchangeable parts
13. What strategic concepts allow firms to achieve their missions?: Ditterentiation
Cost leadership
Response
14. Henry ford is noted for his contributions for what?: assembly line
15. A firm can effectively use its operations function to yield competitive advan-
tage through?: 1. Customization of the product
2. Speed of delivery
3. Constant Innovation of new products
4. Maintain a variety of product options
16. Operations management is applicable to only manufacturing?: no
17. Productivity tends to be more difficult to improve in the service sector be-
cause the work is?: 1. Often diflcult to automate
2. Typically Labor-intensive
3. Frequently processed individually
1. What are Core competencies?: Firm's areas or utmost proficiency that delivers a justifiable competitive
advantage in marketplace or service environment
2. Difference between long-range forecasts to short-range forecasts: Forecasting is
the process of identifying the future oriented needs or demands for the purpose of planning and implementing the
plans ettectively. The forecasting can be classified into two which includes the short term forecasting and the long term
forecasting.
Short term forecasting is the approach of forecasting for meeting the short term objectives. The short term objectives will
be the objectives set for less than one year. In short term forecasting the current situations and the frequent or the
sudden changes in the business environment has to be considered in particular. The current political or the economic
issues can certainly impact the business within a year of time and hence the current situation gets the priority.
In long term forecasting, the long term objectives of the organizations are met. This forecasting will be performed
considering the long term benefits and the objectives of the organization like the organization reputation, customer
loyalty etc.
3. A six-month moving average forecast is generally better than a three-month
moving average forecast if: if demand is rather stable
4. A fundamental distinction between trend projection and linear regression
is: in trend projection the independent variable is time; in linear regression the independent variable need not be
time but can be any variable with explanatory value
5. What is exponential smoothing forecast?:
6. What is matrix organization?: A matrix organization is an organizational structure in which the
relationship of the roles is set up in a grid or matrix. The traditional hierarchy is disregarded in the matrix structure.
Employees have dual relationship both to the functional and product manager.
7. A project manager is interested in crashing a project with variable activity
times, what tool can he/she use: PERT
,8. What is Experience differentiation?: Experience ditterentiation is an extension of product ditter-
entiation, accomplished by usingpeople's five senses to create an experience rather than simply providing a service.
9. Cost minimization is an appropriate strategy in which stage of the product life
cycle?: Declines
10. Cost cutting in international operations can take place because of?: 1. Lower
taxes and taritts
, 2. Lower wage scales
3. Lower indirect labor costs
4. Less stringent regulation
11. Before establishing and implementing strategy, a resources view would
ensure which resources are available?: 1. Financial
2. Physical
3. Human
4. Technological
12. Eli Whitney, in the nineteenth century, provided the foundations for what?: -
interchangeable parts
13. What strategic concepts allow firms to achieve their missions?: Ditterentiation
Cost leadership
Response
14. Henry ford is noted for his contributions for what?: assembly line
15. A firm can effectively use its operations function to yield competitive advan-
tage through?: 1. Customization of the product
2. Speed of delivery
3. Constant Innovation of new products
4. Maintain a variety of product options
16. Operations management is applicable to only manufacturing?: no
17. Productivity tends to be more difficult to improve in the service sector be-
cause the work is?: 1. Often diflcult to automate
2. Typically Labor-intensive
3. Frequently processed individually
