OM 300 Exam 1 Chilcutt Questions and
Correct Answers
Question 1
Which of the following is NOT one of the three strategic approaches to competitive
advantage?
A. innovation
B. cost leadership
C. response
D. differentiation
Correct Answer
A. innovation
Question 2
Competition in the 21st century is no longer betweencompanies; it is between
A. supply chains
B.individuals.
C. technologies.
D. countries.
Correct Answer
A. Supply chains
Page 1 of 72
,Question 3
How is the EFcomputed?
A. ES+ Activity time
B. LF − Activity time
C. Max{EF of all immediatepredecessors}
D. Min{LS of all immediate followingactivities}
Correct Answer
A. ES + Activity time
Question 4
The creation of a unique advantage over competitors is referred as
A. response.
B. experience differentiation.
C. competitive advantage.
D. differentiation.
Correct Answer
C. competitive advantage
Page 2 of 72
,Question 5
A large percentage of the revenue of most firms is spent on whichfunction?
A. finance
B. operations
C. research and development
D. marketing
Correct Answer
B. operations
Question 6
A global network of organizations and activities that supply a firm with goods and
services is referred to as
A. a supply chain.
B. production.
C. business functions.
D. operations management.
Correct Answer
A. A supply chain
Page 3 of 72
, Question 7
Which of the following phases of the product life cycle has negative cash flow and
increasing spending on development andproduction?
A. growth phase
B. introductory phase
C. decline phase
D. maturity phase
Correct Answer
B. introductory phase
Question 8
Gantt charts are
A. not widely used.
B. widely used network techniques.
C. not easy to understand.
D. planning charts used to schedule resources and allocate time.
Correct Answer
D. planning charts used to schedule resources and allocate time
Page 4 of 72
Correct Answers
Question 1
Which of the following is NOT one of the three strategic approaches to competitive
advantage?
A. innovation
B. cost leadership
C. response
D. differentiation
Correct Answer
A. innovation
Question 2
Competition in the 21st century is no longer betweencompanies; it is between
A. supply chains
B.individuals.
C. technologies.
D. countries.
Correct Answer
A. Supply chains
Page 1 of 72
,Question 3
How is the EFcomputed?
A. ES+ Activity time
B. LF − Activity time
C. Max{EF of all immediatepredecessors}
D. Min{LS of all immediate followingactivities}
Correct Answer
A. ES + Activity time
Question 4
The creation of a unique advantage over competitors is referred as
A. response.
B. experience differentiation.
C. competitive advantage.
D. differentiation.
Correct Answer
C. competitive advantage
Page 2 of 72
,Question 5
A large percentage of the revenue of most firms is spent on whichfunction?
A. finance
B. operations
C. research and development
D. marketing
Correct Answer
B. operations
Question 6
A global network of organizations and activities that supply a firm with goods and
services is referred to as
A. a supply chain.
B. production.
C. business functions.
D. operations management.
Correct Answer
A. A supply chain
Page 3 of 72
, Question 7
Which of the following phases of the product life cycle has negative cash flow and
increasing spending on development andproduction?
A. growth phase
B. introductory phase
C. decline phase
D. maturity phase
Correct Answer
B. introductory phase
Question 8
Gantt charts are
A. not widely used.
B. widely used network techniques.
C. not easy to understand.
D. planning charts used to schedule resources and allocate time.
Correct Answer
D. planning charts used to schedule resources and allocate time
Page 4 of 72
