MANG 3402- TEST 2 QUESTIONS & ANSWERS
Reasons for globalization: - Answer -1.Reduce costs (labor, taxes, tariffs, etc.)
2.Improve supply chain
3.Provide better goods and services
4.Understand markets
5.Learn to improve operations
6.Attract and retain global talent
Statements tell an organization where it is going (why a firm exist). - Answer -Mission
Tells the organization how to get there (Action Plan). - Answer -Strategy
To achieve mission. - Answer -Action plan
What's SWOT? - Answer -Strength
Weaknesses
Opportunity
Threat
Matching market changes in design innovation and volumes. - Answer -Flexibility
Meeting schedules. - Answer -Reliability
To develop and implement a product strategy that meets the demands of the
marketplace with a competitive' advantage. - Answer -Product Decision
May be any length from a few hours to decades. - Answer -Product Life Cycle
What are the new product opportunities? - Answer -1.Understanding the
customer
2.Economic change
3.Sociological and
demographic change
4.Technological change
5.Political/legal change
Time based competition: - Answer -Product life cycles are becoming shorter.
Faster can result in a competitive advantage.
Service typically includes direct interaction with the customer. - Answer -Service Design
Reasons for globalization: - Answer -1.Reduce costs (labor, taxes, tariffs, etc.)
2.Improve supply chain
3.Provide better goods and services
4.Understand markets
5.Learn to improve operations
6.Attract and retain global talent
Statements tell an organization where it is going (why a firm exist). - Answer -Mission
Tells the organization how to get there (Action Plan). - Answer -Strategy
To achieve mission. - Answer -Action plan
What's SWOT? - Answer -Strength
Weaknesses
Opportunity
Threat
Matching market changes in design innovation and volumes. - Answer -Flexibility
Meeting schedules. - Answer -Reliability
To develop and implement a product strategy that meets the demands of the
marketplace with a competitive' advantage. - Answer -Product Decision
May be any length from a few hours to decades. - Answer -Product Life Cycle
What are the new product opportunities? - Answer -1.Understanding the
customer
2.Economic change
3.Sociological and
demographic change
4.Technological change
5.Political/legal change
Time based competition: - Answer -Product life cycles are becoming shorter.
Faster can result in a competitive advantage.
Service typically includes direct interaction with the customer. - Answer -Service Design
