BSG Quiz Exam Questions with Verified
Correct Answers
Eliminate tariffs on LA - Answer-Build a plant in LA and expand as needed
Striving for low labor costs - Answer-Labor costs per pairs produced to the industry low
for employee compensation and pairs produced
Industry low, average, and high cost benchmarks - Answer-Are worth scrutiny because
they tell what degree benchmarks cost for the benchmark cost categories and are
competitive with rival companies
NOT a good indication your companies costs are too high - Answer-operating profits in
all four regions are below industry high values
Most essential results - Answer-Market Snapshot-prices, SQ rating, models available
etc etc
NOT for private label footwear - Answer-Proportion of marketing expenses where
private label are sold
When branding footwear from brands of rivals DONOT - Answer-Achieve a lower reject
rate per pairs of shoes than almost all other rivals
If co adds new plant capacity of 30 Mill then annual depreciation cost will rise by -
Answer-5 % or 1,500,000
Benchmarking cost data - Answer-provide evidence to the degree of which various
costs at plants are competitive to rival companies
Social responsibility and Corporate Leadership - Answer-Positive impact on image
rating and social responsibility
Boost stock price? - Answer-Increase earnings per share each yr, raise companys
dividend each yr, and repurchase shares of common stock
Improve SQ rating of branded shoes - Answer-Increase: Styling features, TQM/6 Sigma,
Superior materials, best practices training,
*not increase number styles/models produced*
In instituting sizes of companys margins over direct costs - Answer-how many sold in
each pair of shoes that could be 1-allocated to paying administration expenses or
interest costs
2-boost pretax profits
, Under what circumstance should a company give serious consideration to provide
private label to chain retailers - Answer-excess production capacity that would be idle
Lower production costs per pair - Answer-Increasing spending for enhanced styling and
features.
Strategy - Answer-consists of the competitive moves and business approaches that
managers employ to attract and please customers, compete successfully, pursue
opportunities to grow the business, respond to changing market conditions, conduct
operations, and achieve the targeted financial and market performance.
The heart and soul of any strategy - Answer-is the actions and moves int he
marketplace that managers are taking to gain a competitive advantage over rivals
A company's business model - Answer-sets forth how its strategy and operating
approaches will create value for customers while at the same time generating revenues
sufficient to cover costs and realize a profit.
The difference between a company's strategy and a company's business model is that -
Answer-its strategy is defined by the specific market positioning, competitive moves,
and business approaches management employs to try to produce good business results
while its business model relates to management's blueprint for delivering a valuable
product or service to customers in a manner that will generate revenues sufficient to
cover costs and yield an attractive profit.
A company's strategic vision concerns - Answer-a company's long-term direction and
what product-customer-market business mix seems optimal for a the road ahead.
A company's mission statement typically addresses which of the following questions? -
Answer-"who we are, what we do, and why are we here"
Objectives - Answer-are an organization's performance targets—the results and
outcomes management wants to achieve. They function as yardsticks for measuring
how well the organization is doing
A best practice - Answer-- Is a method or technique employed by at least one enterprise
and shown to be unusually effective in lowering costs improving quality or performance,
shortening time requirements, enhancing safe, or achieving one or more other highly
positive operating outcomes.
- A means of performing and activity or process that yields results consistently superior
to other approaches
TQM - Answer-Is a performance improvement tool that emphasizes involvement and
empowerment of employees at all levels, continuous improvement in all phases of
operations, 100% accuracy in performing tasks and total customer satisfaction.
Correct Answers
Eliminate tariffs on LA - Answer-Build a plant in LA and expand as needed
Striving for low labor costs - Answer-Labor costs per pairs produced to the industry low
for employee compensation and pairs produced
Industry low, average, and high cost benchmarks - Answer-Are worth scrutiny because
they tell what degree benchmarks cost for the benchmark cost categories and are
competitive with rival companies
NOT a good indication your companies costs are too high - Answer-operating profits in
all four regions are below industry high values
Most essential results - Answer-Market Snapshot-prices, SQ rating, models available
etc etc
NOT for private label footwear - Answer-Proportion of marketing expenses where
private label are sold
When branding footwear from brands of rivals DONOT - Answer-Achieve a lower reject
rate per pairs of shoes than almost all other rivals
If co adds new plant capacity of 30 Mill then annual depreciation cost will rise by -
Answer-5 % or 1,500,000
Benchmarking cost data - Answer-provide evidence to the degree of which various
costs at plants are competitive to rival companies
Social responsibility and Corporate Leadership - Answer-Positive impact on image
rating and social responsibility
Boost stock price? - Answer-Increase earnings per share each yr, raise companys
dividend each yr, and repurchase shares of common stock
Improve SQ rating of branded shoes - Answer-Increase: Styling features, TQM/6 Sigma,
Superior materials, best practices training,
*not increase number styles/models produced*
In instituting sizes of companys margins over direct costs - Answer-how many sold in
each pair of shoes that could be 1-allocated to paying administration expenses or
interest costs
2-boost pretax profits
, Under what circumstance should a company give serious consideration to provide
private label to chain retailers - Answer-excess production capacity that would be idle
Lower production costs per pair - Answer-Increasing spending for enhanced styling and
features.
Strategy - Answer-consists of the competitive moves and business approaches that
managers employ to attract and please customers, compete successfully, pursue
opportunities to grow the business, respond to changing market conditions, conduct
operations, and achieve the targeted financial and market performance.
The heart and soul of any strategy - Answer-is the actions and moves int he
marketplace that managers are taking to gain a competitive advantage over rivals
A company's business model - Answer-sets forth how its strategy and operating
approaches will create value for customers while at the same time generating revenues
sufficient to cover costs and realize a profit.
The difference between a company's strategy and a company's business model is that -
Answer-its strategy is defined by the specific market positioning, competitive moves,
and business approaches management employs to try to produce good business results
while its business model relates to management's blueprint for delivering a valuable
product or service to customers in a manner that will generate revenues sufficient to
cover costs and yield an attractive profit.
A company's strategic vision concerns - Answer-a company's long-term direction and
what product-customer-market business mix seems optimal for a the road ahead.
A company's mission statement typically addresses which of the following questions? -
Answer-"who we are, what we do, and why are we here"
Objectives - Answer-are an organization's performance targets—the results and
outcomes management wants to achieve. They function as yardsticks for measuring
how well the organization is doing
A best practice - Answer-- Is a method or technique employed by at least one enterprise
and shown to be unusually effective in lowering costs improving quality or performance,
shortening time requirements, enhancing safe, or achieving one or more other highly
positive operating outcomes.
- A means of performing and activity or process that yields results consistently superior
to other approaches
TQM - Answer-Is a performance improvement tool that emphasizes involvement and
empowerment of employees at all levels, continuous improvement in all phases of
operations, 100% accuracy in performing tasks and total customer satisfaction.
