Sustainability, Performance and Corporate Strategy MCQ
Warranty claims per units sold is a measure for which performance category?
Answer
Correct Answer:
Quality
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When the operations strategy category of inventoryattempts to have high inventories in orderto avoid stockouts, then the inventory strategyis aligned with which strategy?
Answer
Correct Answer:
Customer service strategy
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Which is NOT one of the three competitive dimensions?
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Correct Answer:
Economies of scale
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Which is NOT one of the three P’s of the triple bottom line?
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Correct Answer:
Productivity
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An ethical act that creates the greatest good for the greatest number of people defines which of the following?
Answer
Correct Answer:
Utilitarianism
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Which is NOT one of the balanced scorecard’s four main categories?
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Correct Answer:
Cost
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Average time between product failures is a measure for which performance category?
Answer
Correct Answer:
Quality
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Call center capability is a measure for which performance category?
Answer
Correct Answer:
Customer Service
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Net profit margin is a measure for which performance category?
Answer
Correct Answer:
Financial
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Which production control system activity aligns with the customer service strategy?
Answer
Correct Answer:
Use of Internet and cloud-based systems
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When the operations strategy of logistics is to use centralized distribution centers, logistics is aligned with which strategy?
Answer
Correct Answer:
Cost strategy
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When the operations strategy of process design is to utilize state-of-the-art equipment, process designtends to bealigned with which strategy?
Answer
Correct Answer:
Quality strategy
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When the operations strategy of product design is to concentrate on improving older products, then product designtends to bealigned with which strategy?
Answer
Correct Answer:
Cost strategy
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Economies of scale help a firm achieve _______.
Answer
Correct Answer:
Low-cost strategy
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_______ is the process of determining a firm’s long-term goals, plans, and policies.
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Correct Answer:
Strategic planning
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Utilitarianism acts that creates the greatest good for the greatest number of people .
Answer
Correct Answer:
True
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A firm’s efforts to provide social, environmental, and economic benefits to stakeholders is known as ______.
Answer
Correct Answer:
Triple Bottom Line
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Which of the correct statements about Sustainability ?
Answer
Correct Answer:
Doing the right social and environmental things in ways that make economic sense
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Strategy Trade-Offs is when doing more of one activity requires doing less of something else, creating the need for a compromise.
Answer
Correct Answer:
True
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A description of how the firm intends to compete, or provide value to its customers, both now and into the future is known as ______ .
Answer
Correct Answer:
Strategy
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Strategic Planning is the process of determining a firm’s long-term goals, plans, and policies.
Answer
Correct Answer:
True
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A ratio of outputs to one input is known as ______ .
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Correct Answer:
Single-Factor Productivity
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Service Recovery is an equitable compensation or arrangement to compensate for a service failure.
Answer
Correct Answer:
True
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______ is a graphical representation of the progress over time of some entity.
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Correct Answer:
Scorecarding
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Some actions are simply right, without any regard to the consequences
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Correct Answer:
Rights and Duties
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A calculation of the change in productivity from one period to the next, divided by the original productivity is known as _______ .
Answer
Correct Answer:
Productivity Growth RateTerm
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Criteria that tell managers how the company is doing, and what needs to be fixed to enable the firm to accomplish its objectives is known as ______ .
Answer
Correct Answer:
Performance Measures
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The set of decisions made within the operations function to support the overall mission and strategy of the firm is known as ______ .
Answer
Correct Answer:
Operations Strategies
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A ratio of outputs to multiple inputs is known as _____ .
Answer
Correct Answer:
Multiple-Factor Productivity
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Mission Statement is a statement that provides direction for the firm’s strategic plan.
Answer
Correct Answer:
True
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Fair Trade Products are products that are manufactured or grown by a disadvantaged producer in a developing country .
Answer
Correct Answer:
True
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Economies of Scale is a condition that is created when purchasing and manufacturing in bulk to _____ .
Answer
Correct Answer:
Reduce per-unit costs
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Dashboards are web-based scorecards.
Answer
Correct Answer:
True
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The collective capabilities or skill sets possessed by the firm that distinguish it from its competitors is known as _____ .
Answer
Correct Answer:
Core Competencies
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Big Data Analytics is used when organizations analyze a huge array of data using predictive modeling techniques.
Answer
Correct Answer:
True
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Balanced Scorecard introduced by ______ .
Answer
Correct Answer:
Both a & b
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