OSC 5660 ALL Quizzes for Final (All quizzes for final. U of
U Operations Strategy) Questions With Complete Solutions
_____ percent of what we do is waste.
-80
-50
-90
-none of the above Correct Answers 90
" As we learned in previous chapters, great strategies are
_______________, with their own integrity and internal
harmony among the elements ( think of how De Sole rigorously
linked everything he did to his purpose, from product line on up
to management culture). Often you will be able to adapt while
keeping your purpose intact. But you cannot confuse the
integrity of a system with rigidity. Your system of value creation
has to be ___________ and adaptable. Like your strategy, it too
has to evolve over time, and respond to -- or better yet,
anticipate- changes in the business environment or within the
firm itself that can make its elements obsolete." Cynthia A.
Montgomery, The Strategist
-systems, flexible
-process, valued
-systems, rigid
-flexible, smart Correct Answers systems, flexible
" Now, having accepted that the only sustainable strategy is one
that anticipates ____________, you're ready to embrace
,becoming the strategist who takes your company where it needs
to go?Cynthia A. Montgomery
-storming
-change
-the competition
-marketing Correct Answers change
" Providing excellent, waste-free healthcare is about more than
teamwork and better communications, of course. It's about
delivering only what is of value, quickly, by removing the many
wasteful activities surrounding patients on their journey through
diagnosis and treatment"
T/F Correct Answers TRUE
" When a firm's ________________ is consistent with the
competitive environment and produces a difference that matters,
it's compelling. When it grows out of sync and anchors a firm in
a past that no longer exits, it's a liability." Cynthia A.
Montgomery
-time off policy
-SWOT
-mission
-purpose Correct Answers purpose
" You begin to see the world in a way that makes you feel
unjustified in your self-betrayal"
,T/F Correct Answers false
" Your goal is to build something that is not already there. To do
so, you must confront the four basic questions you have already
explored:
What does my organization bring to the world?
Does that difference matter?
Is something about it scarce and difficult to imitate?
Are we doing today what we need to do in order to matter
tomorrow?" Cynthia A. Montgomery
T/F Correct Answers True
"A lean healthcare organization trains people in problem-
solving, then respects their opinions and experience enough to
let them take the lead on improvement" (T/F) Correct Answers
True
"A trio of economists -Adam Brandenburger, Barry Nalebuff,
and Harborne Stuart-who study game theory suggest a wider
angle. They remind us that managers need to think not only
about what's best for their own firms, but also about how what
they do affects others. This involves the two outer lines:
Customer' Willingness to Pay ( essentially customers'
satisfaction with a good or service) and Suppliers' Willingness to
supply (essentially their opportunity cost- the lowest price at
which they would be willing to sell a particular firm). It's when a
company drives a wider wedge between these lines- expanding
the total ________ created- that its existence matters in an
industry. When it does so, it is much more likely to be able to
, claim some of the __________ for itself-i.e., increase its own
profitability- without making its partners in trade less well off.
"Cynthia A. Montgomery, The Strategist
- sales
-money
-value
- Correct Answers value
"A value stream is the set of steps that delivers a given type of
_______________ to the customer. A value-stream map records
all these steps and their current performance."
value
none of the above
time
product Correct Answers Value
"Being a strategist takes drive and initiative, and the willingness
and curiosity to ask ______________ and venture forward"
Cynthia A. Montgomery, The Strategist
-why
-where
-questions
-your team Correct Answers questions
"By empowerment, we mean giving people the ___________ to
become problem solvers and then creating the working
conditions that applaud solving problems instead of sweeping
them under the rug."
U Operations Strategy) Questions With Complete Solutions
_____ percent of what we do is waste.
-80
-50
-90
-none of the above Correct Answers 90
" As we learned in previous chapters, great strategies are
_______________, with their own integrity and internal
harmony among the elements ( think of how De Sole rigorously
linked everything he did to his purpose, from product line on up
to management culture). Often you will be able to adapt while
keeping your purpose intact. But you cannot confuse the
integrity of a system with rigidity. Your system of value creation
has to be ___________ and adaptable. Like your strategy, it too
has to evolve over time, and respond to -- or better yet,
anticipate- changes in the business environment or within the
firm itself that can make its elements obsolete." Cynthia A.
Montgomery, The Strategist
-systems, flexible
-process, valued
-systems, rigid
-flexible, smart Correct Answers systems, flexible
" Now, having accepted that the only sustainable strategy is one
that anticipates ____________, you're ready to embrace
,becoming the strategist who takes your company where it needs
to go?Cynthia A. Montgomery
-storming
-change
-the competition
-marketing Correct Answers change
" Providing excellent, waste-free healthcare is about more than
teamwork and better communications, of course. It's about
delivering only what is of value, quickly, by removing the many
wasteful activities surrounding patients on their journey through
diagnosis and treatment"
T/F Correct Answers TRUE
" When a firm's ________________ is consistent with the
competitive environment and produces a difference that matters,
it's compelling. When it grows out of sync and anchors a firm in
a past that no longer exits, it's a liability." Cynthia A.
Montgomery
-time off policy
-SWOT
-mission
-purpose Correct Answers purpose
" You begin to see the world in a way that makes you feel
unjustified in your self-betrayal"
,T/F Correct Answers false
" Your goal is to build something that is not already there. To do
so, you must confront the four basic questions you have already
explored:
What does my organization bring to the world?
Does that difference matter?
Is something about it scarce and difficult to imitate?
Are we doing today what we need to do in order to matter
tomorrow?" Cynthia A. Montgomery
T/F Correct Answers True
"A lean healthcare organization trains people in problem-
solving, then respects their opinions and experience enough to
let them take the lead on improvement" (T/F) Correct Answers
True
"A trio of economists -Adam Brandenburger, Barry Nalebuff,
and Harborne Stuart-who study game theory suggest a wider
angle. They remind us that managers need to think not only
about what's best for their own firms, but also about how what
they do affects others. This involves the two outer lines:
Customer' Willingness to Pay ( essentially customers'
satisfaction with a good or service) and Suppliers' Willingness to
supply (essentially their opportunity cost- the lowest price at
which they would be willing to sell a particular firm). It's when a
company drives a wider wedge between these lines- expanding
the total ________ created- that its existence matters in an
industry. When it does so, it is much more likely to be able to
, claim some of the __________ for itself-i.e., increase its own
profitability- without making its partners in trade less well off.
"Cynthia A. Montgomery, The Strategist
- sales
-money
-value
- Correct Answers value
"A value stream is the set of steps that delivers a given type of
_______________ to the customer. A value-stream map records
all these steps and their current performance."
value
none of the above
time
product Correct Answers Value
"Being a strategist takes drive and initiative, and the willingness
and curiosity to ask ______________ and venture forward"
Cynthia A. Montgomery, The Strategist
-why
-where
-questions
-your team Correct Answers questions
"By empowerment, we mean giving people the ___________ to
become problem solvers and then creating the working
conditions that applaud solving problems instead of sweeping
them under the rug."
