WPC 470 Final Exam With Verified Questions & Answers Latest Updated 2024

WPC 470 Final Exam With Verified Questions & Answers Latest Updated 2024 Which of the following statements about a flexible manufacturing system (FMS) is NOT true? a..Used properly, an FMS allows the firm to increase its effectiveness in responding to changes in its customers' needs, while retaining low-cost advantages and consistent product quality. b.An FMS is a computer-controlled process that allows firms to produce a variety of products in moderate, flexible quantities with a minimum of manual intervention. c.The goal of an FMS is to eliminate the "low cost versus product variety" trade-off that is inherent in traditional manufacturing technologies. d.An FMS allows a manufacturer to connect with its suppliers, distributors, and customers, which enables it to satisfy customer expectations in terms of product quality and delivery speed. - An FMS allows a manufacturer to connect with its suppliers, distributors, and customers, which enables it to satisfy customer expectations in terms of product quality and delivery speed. Which of the following statements about a firm's resources and capabilities is true? a.All of a firm's resources and capabilities have the potential to be the foundation for a competitive advantage. b.It is difficult to achieve and sustain a competitive advantage based on resources alone. c.As a source of competitive advantage, a capability must be exceedingly complex to understand and manage. d.When a resource is rare and valuable, it becomes a core competency. - It is difficult to achieve and sustain a competitive advantage based on resources alone When examining the component of Future Objectives for a competitor analysis, which of the following is NOT a question that is addressed? a.How do our goals compare with our competitors' goals? b.Where will emphasis be placed in the future? c.What is the attitude toward risk? d.What is our future break-even point? - What is our future break-even point? A _____ competitive advantage exists only when competitors are unable to duplicate the benefits of a firm's strategy or when they lack the resources to attempt imitation. table rary inable - sustainable Powerful customers can force a cost leader to reduce its prices, but not below the level at which the cost leader's: -most-efficient industry competitor can earn average returns. efficient industry competitor can earn average returns. -most-efficient industry competitor can earn above-average returns. -most-efficient industry competitor can earn below-average returns. -next-mostefficient industry competitor can earn average returns. A firm combines individual tangible and intangible resources to create: s. ilities. tencies. tages. - capabilities