GMS 401 FINAL PAPER 2025/2026 QUESTIONS WITH
ANSWERS RATED A+
✔✔Variable for Improved labour productivity - ✔✔- Education
- Diet
- Social overhead making labour available
✔✔Service Productivity - ✔✔- Labour intensive
- Unique indv. attributes/desires
- Intellectual task
- Hard to mechanize/automate
- Hard to evaluate quality
✔✔Ethics & social Responsibility - ✔✔- Dvlp & producing safe quality products
- Maintaining clean environment
- Safe workplace
- Honoring stakeholders
✔✔Regal Marine - ✔✔▪ Global market
- 3-dimensional CAD system
- Reduced product development time
- Reduced problems with tooling
- Reduced problems in production
▪ Assembly line production
▪ Just-In-Time (JIT)
✔✔Product Decision - ✔✔develop + implement product strategy, meeting demand of
mrktplace w/ comp adv.
✔✔4 points of product decision - ✔✔▪ The good or service the organization provides
society
▪ Top organizations typically focus on core products
▪ Customers buy satisfaction, not just a physical good or particular service
▪ Fundamental to an organization's strategy with implications throughout the operations
function
✔✔Product Strategy Options - ✔✔Differentiation (shouldice hospital)
Low cost (taco bell)
Rapid response (toyota)
✔✔Product life cycle - ✔✔1. Intro
2. Growth
3. Maturity
, 4. Decline
✔✔Product life cycle phases. - ✔✔Intro - lots of expenses
Growth - stabilizes
Maturity - know ur comps, improved cost control
Decline - unless special contribution, terminate product
✔✔Product by value analysis - ✔✔List of products ordered by $ value contribution to
firm and annual $ contribution of product
✔✔New Product Opportunities - ✔✔1. Understanding the customer
2. Economic change
Sociological and demographic change
3. Technological change
4. Political/legal change
5. Market practice, professional standards, suppliers, distributors
✔✔Product development stages - ✔✔product ideas develops from sources, going thru
stages to optimize product
✔✔Quality Function Deployment - ✔✔1. Identify customer wants
2. Identify how the good/service will satisfy customer wants
3. Relate customer wants to product hows
4. Identify relationships between the firm's hows
5. Develop importance ratings
6. Evaluate competing products
7. Compare performance to desirable technical attributes
✔✔Constructing a House of Quality: Quality function deployment (QFD) - ✔✔finding
customer wants turning them into attributes to act on
✔✔House of quality: - ✔✔Prt of QFD that utlizes planning to relate custmr wants to how
so firms can meet the wants
✔✔House of Quality Sequence - ✔✔Deploy resource thru org in response to custmr
wants
✔✔Organizing for Product Development - ✔✔Historically - distinct departments
• Duties and responsibilities are defined
• Difficult to foster forward thinking
ANSWERS RATED A+
✔✔Variable for Improved labour productivity - ✔✔- Education
- Diet
- Social overhead making labour available
✔✔Service Productivity - ✔✔- Labour intensive
- Unique indv. attributes/desires
- Intellectual task
- Hard to mechanize/automate
- Hard to evaluate quality
✔✔Ethics & social Responsibility - ✔✔- Dvlp & producing safe quality products
- Maintaining clean environment
- Safe workplace
- Honoring stakeholders
✔✔Regal Marine - ✔✔▪ Global market
- 3-dimensional CAD system
- Reduced product development time
- Reduced problems with tooling
- Reduced problems in production
▪ Assembly line production
▪ Just-In-Time (JIT)
✔✔Product Decision - ✔✔develop + implement product strategy, meeting demand of
mrktplace w/ comp adv.
✔✔4 points of product decision - ✔✔▪ The good or service the organization provides
society
▪ Top organizations typically focus on core products
▪ Customers buy satisfaction, not just a physical good or particular service
▪ Fundamental to an organization's strategy with implications throughout the operations
function
✔✔Product Strategy Options - ✔✔Differentiation (shouldice hospital)
Low cost (taco bell)
Rapid response (toyota)
✔✔Product life cycle - ✔✔1. Intro
2. Growth
3. Maturity
, 4. Decline
✔✔Product life cycle phases. - ✔✔Intro - lots of expenses
Growth - stabilizes
Maturity - know ur comps, improved cost control
Decline - unless special contribution, terminate product
✔✔Product by value analysis - ✔✔List of products ordered by $ value contribution to
firm and annual $ contribution of product
✔✔New Product Opportunities - ✔✔1. Understanding the customer
2. Economic change
Sociological and demographic change
3. Technological change
4. Political/legal change
5. Market practice, professional standards, suppliers, distributors
✔✔Product development stages - ✔✔product ideas develops from sources, going thru
stages to optimize product
✔✔Quality Function Deployment - ✔✔1. Identify customer wants
2. Identify how the good/service will satisfy customer wants
3. Relate customer wants to product hows
4. Identify relationships between the firm's hows
5. Develop importance ratings
6. Evaluate competing products
7. Compare performance to desirable technical attributes
✔✔Constructing a House of Quality: Quality function deployment (QFD) - ✔✔finding
customer wants turning them into attributes to act on
✔✔House of quality: - ✔✔Prt of QFD that utlizes planning to relate custmr wants to how
so firms can meet the wants
✔✔House of Quality Sequence - ✔✔Deploy resource thru org in response to custmr
wants
✔✔Organizing for Product Development - ✔✔Historically - distinct departments
• Duties and responsibilities are defined
• Difficult to foster forward thinking
