MGT 4893 -Ch 3 Test Questions All
Solved.
how do organizations become internally aware? - Answer they focus on internal value creation
and keep close relationships
how do organizations focus on internal value creation? - Answer they identify and focus on key
activities and then effectively manage and integrate those activities
how do organizations keep close relationships? - Answer they find value in the supply chain
and use this value to attain competitive advantages
SWOT - Answer Strengths, Weaknesses (Internal) and Opportunities and Threats (external),
the initial analysis a company performs
value-chain analysis (VCA) - Answer an extended analysis that provides greater insights by
analyzing organization sequential processes which are the value-creating activities which can
additionally be thought of as building blocks
value - Answer the amount willingly paid by a customer receiving the good or service
total revenue - Answer the price willingly paid(value) * the quantity purchased by customers
when is a firm profitable? - Answer when it has positive margins, or the firm creates value for
buyers that exceeds the costs of production
what are the key value-creating activities that a firm must effectively manage and integrate in
order to attain competitive advantages in their marketplace? - Answer -operations
-marketing
-sales
-procurment
what are the two different activity types in value-chain analysis? - Answer 1. primary
2. support
primary activities - Answer contribute to the physical creation, sale, and services
, support activities - Answer add value either by themselves or through relationships with other
support or primary activities
primary activities include - Answer -any industry
-inbound logistics
-operations
-outbound logistics
-marketing and sales
-service
support activities include - Answer -particular industry
-procurement
-technology development
-hr management
-general administration
inbound logistics - Answer (primary) concerns product inputs; receiving, storing and
distributing the raw materials
just-in-time inventory systems (JIT) - Answer an efficient inbound logistics system in which
input deliveries arrive hours before they are needed, reducing raw materials time close to zeros
and goods are sent off to customers when they leave the work-in-progress stage reducing
finished goods inventory close to zero
operations - Answer (primary) concerns producing products, the machining, packaging,
assembly; the work-in-process (WIP)
what are environmental operation procedures? - Answer the practice of creating
environmentally friendly manufacturing to achieve competitive advantage by way of reducing
expenses associated with waste from manufacturing operations, or from gaining reputation
from being known as environmentally concerned
outbound logistics - Answer (primary) concerns completed products; the collecting, storing,
and distributing of the finished goods
how are electronic networks used in outbound logistics? - Answer systems in which buyers
and sellers can communicate information concerning product or service needs allow suppliers
to forecast future sales demands and buyers to promptly receive products or services
Solved.
how do organizations become internally aware? - Answer they focus on internal value creation
and keep close relationships
how do organizations focus on internal value creation? - Answer they identify and focus on key
activities and then effectively manage and integrate those activities
how do organizations keep close relationships? - Answer they find value in the supply chain
and use this value to attain competitive advantages
SWOT - Answer Strengths, Weaknesses (Internal) and Opportunities and Threats (external),
the initial analysis a company performs
value-chain analysis (VCA) - Answer an extended analysis that provides greater insights by
analyzing organization sequential processes which are the value-creating activities which can
additionally be thought of as building blocks
value - Answer the amount willingly paid by a customer receiving the good or service
total revenue - Answer the price willingly paid(value) * the quantity purchased by customers
when is a firm profitable? - Answer when it has positive margins, or the firm creates value for
buyers that exceeds the costs of production
what are the key value-creating activities that a firm must effectively manage and integrate in
order to attain competitive advantages in their marketplace? - Answer -operations
-marketing
-sales
-procurment
what are the two different activity types in value-chain analysis? - Answer 1. primary
2. support
primary activities - Answer contribute to the physical creation, sale, and services
, support activities - Answer add value either by themselves or through relationships with other
support or primary activities
primary activities include - Answer -any industry
-inbound logistics
-operations
-outbound logistics
-marketing and sales
-service
support activities include - Answer -particular industry
-procurement
-technology development
-hr management
-general administration
inbound logistics - Answer (primary) concerns product inputs; receiving, storing and
distributing the raw materials
just-in-time inventory systems (JIT) - Answer an efficient inbound logistics system in which
input deliveries arrive hours before they are needed, reducing raw materials time close to zeros
and goods are sent off to customers when they leave the work-in-progress stage reducing
finished goods inventory close to zero
operations - Answer (primary) concerns producing products, the machining, packaging,
assembly; the work-in-process (WIP)
what are environmental operation procedures? - Answer the practice of creating
environmentally friendly manufacturing to achieve competitive advantage by way of reducing
expenses associated with waste from manufacturing operations, or from gaining reputation
from being known as environmentally concerned
outbound logistics - Answer (primary) concerns completed products; the collecting, storing,
and distributing of the finished goods
how are electronic networks used in outbound logistics? - Answer systems in which buyers
and sellers can communicate information concerning product or service needs allow suppliers
to forecast future sales demands and buyers to promptly receive products or services
