Which of the following answers best describes the term core competency?.a capability that the operations function can develop in order to give a companya competitive advantage in its marketa common vision that unites an organization, provides consistency in decisions,and keeps the organization moving in the right directionessential capability that creates a firm's sustainable competitive advantageseries of activities from supplier to customer that add value to a product or

Core competency are the set of qualities (leadership and problem solving skills, technologies and…

Answered: Which of the following answers best…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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1. A hotel tries to reduce the perishability of its services by selling last minute inventory at a highly discounted price. This technique presents threats to a company’s: A. Brand image B: Variability of services C: Relationships with suppliers D: Human resources turnover 2. Sometimes, hotel and airline companies upgrade guests to higher-end services. For such services, there are not a lot of word-of-mouth, reviews, or pictures available. For example, a hotel may upgrade a guest who paid for a regular room to a suite in order for the guest to experience an upscale product that the customer does not purchase often, but may purchase in the future. This situation, where a guest may experience an unfamiliar upscale service for the first time, is likely to result in a __________ in the __________ of services. A: increase, intangibility B: reduction, intangibility C: reduction, variability D: increase, variability 3. In hospitality and travel industries, customers and frontline…
35) Which of the following is an appropriate criterion to monitor the performance of functional strategy? a) Return on Equity b) Lead time on order fulfillment c) Return on investment d) Ratio of profits to Earnings
Business-level strategies detail commitments and actions taken to provide value to customers and to gain competitive advantage by exploiting core competencies in: specific plant locations specific and individual product markets the selection of industries in which the firm will compete specific and individual functional departments
When formulating corporate strategy, managers must make the decisions about the stages of the industry value chain to participate in. O True O False
The strategically relevant factors outside a company's industry boundaries-economic conditions, political factors, sociocultural forces, technological factors, environmental factors, and legal/regulatory conditions- are known as ○ the competitive market environment that exists between a company and its competitors. O the industry and the competitive arena in which the company operates. O the dominant economic features of a company's industry. ○ general economic conditions plus the factors driving change in the markets where a company operates. O a company's macro-environment.
26) A competitive advantage can be realized if an organization can achieve effective integration of its various business processes. True or False? True False
Sales, cost and profitability measures for a company are as follows: % of sales Sales Cost of supply chain purchases $65000 Other production costs Fixed costs Profit $100000 65% $15000 $15000 $5000 15% 15% 5% What percentage improvement is needed in a sales strategy for profit to improve to $6000? What must sales be for profit to improve to $6000? 2.
Give a critical assessment of the Model which can be applied to measure DAK Corporation’s Competitiveness
Within the value chain "support functions are" the: a. support activities provided to other internal business functions b. coordination and assembly of resources to produce a product or deliver a service c. mechanisms by which companies deliver products or services d. support activities provided to the customer
44. In order for customers to perceive that a company offers them more value or more utility per dollar, the company must work to improve what might be referred to as a) Value ratio b) Value for money c) Customer satisfaction d) Satisfaction 45. Which one does not use operations management? a) Bank b) Hospital c) Restaurant d) None of the above 46. Business organizations compete with each other in a variety of ways, such as all of the following except a) Price b) Product or service features c) Flexibility d) All of the above 47. The definition of quality that involves the product functioning as expected without failure is a) Performance b) Standardization c) Conformance d) Reliability respect to competitive priorities, intermittent operations compete more on compared to repetitive operations. 48.
When a multiproduct plant operates at full capacity, decision must be made as to which products to emphasize. These decisions are frequently made with a short run focus. In making such decisions, managers should select products with the A. Highest sales price per unit B. Highest sales volume potential C. Highest individual unit contribution margin D. Highest contribution margin per unit of the constraining resource
1. Organizations can gain a competitive advantage simply by selling products and services at a lower price than competitors. a) True b) False.

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