2. Directional statements include: A. Mission, vision, and value statements B. Legally required policies C. The employee handbook D. All of these 3. ________ is a predetermined standard that defines how a product is to be produced or a service provided. A. Employee loyalty B. Transformation C. Customer loyalty D. Quality

2. Directional statements include: A. Mission, vision, and value statements B. Legally required policies C. The employee handbook D. All of these 3. ________ is a predetermined standard that defines how a product is to be produced or a service provided. A. Employee loyalty B. Transformation C. Customer loyalty D. Quality

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

A. Selection of any existing FOREIGN OR MULTI NATIONAL company, B. Discuss the company profile and describe the industry process of the business the company C. Discuss and illustrate the TOTAL QUALITY Management process of D. Introduce/Suggest potential changes for improvements of processes E. Present and Explain possible outcomes, positive or negative, after changes have been introduced. IMPLEMENTATION (ACTION PLAN) (tabular format) 1. RECOMMENDATION 2. COURSE OF ACTION / PROCEDURE OF IMPLEMENTATION 3. DEPARTMENT/ PERSONS INVOLVED | 4. TIME FRAME (ESTIMATED LENGTH OF TIME FOR THE IMPLEMENTATION) 5. EXPECTED OUTCOMES
1. Product decisions affect customer a. Cost b. Benefits c. Loyalty d. Convenience 2. If a consumer buys Charmin bath tissue that is the exact same quality as a generic brand only more expensive, Charmin has created ________ with the consumer. a. Brand mark b. Brand name c. Brand equity d. Brand 3. Producing the most efficient and cost-effective version of a product describes what? a. Production orientation b. Sales orientation c. Market orientation d. Social orientation 4. Why is research critical to marketing? a. To pinpoint whether an economy is production or service oriented b. To determine if marketing activities are effective c. To determine what’s likely to be the next hot trend in marketing d. To determine basic consumer needs
John deposited 5000 OMR in bank Muscat for 5 years period. This deposit is known as time deposit and it is is also called as ? a. Fixed deposits b. None of these c. Savings deposits o d. Current deposits
20_______ A balanced scorecard for measuring company performance a . entails putting equal emphasis on financial and strategic objectives. b . entails putting balanced emphasis on profit and non-profit objectives. c . prevents the drive for achieving financial objectives from overwhelming the pursuit of strategic objectives. d . prevents the drive for achieving strategic objectives from overwhelming the pursuit of financial objectives. e entails creating a set of objectives that is "balanced" in the sense of including both financial and strategic objectives.
A. What does the following scenario suggest to a company CEO? The company proformas for the upcoming year show sales revenue as the same as the current year, margin as a percentage is increasing from 3% to 5%, and interest expense is increasing by 4%. a. The CEO would want to dig into the marketing and production plans b. The production plant has plenty extra capacity to produce more products if needed c. The sales manager is not doing a good job d. Marketing expenses are not under control
7. Which of the following is the process or activities by which a company adds value to an article, including production, marketing, and the provision of after-sales service?A. Supply chain B. Value chain C. Business model D. Prototype
1. When a company's OM strategy is having critical issues such as product design and development, their product's life is at which stage? a. Maturity b. Introduction c. Decline d. Growth 2. Which of the following is a principle of total quality management (TQM)? a. quality problems are solved using trial and error b. quality is defined by the company c. quality is an only an operational issue requiring an operating plan d. quality is a strategic issue requiring a strategic plan
7-When customer becomes valued asset to be managed by the firmthe firms deploys? A.Quality control on customer market shares . B.Customer feedback promises . C.Customer - relationship management . d.Customer complaints rise up issues .
3. Sales representative DeMarino realized that the investment of his time and effort was not for short-term gain, but instead looked to the ___________ the hospital would bring to Medtronic. a. long-term revenue b. overall share of customer c. long-term clinical relationship d. product lifetime value e. customer lifetime value 4. DeMarino used personalized communications with the surgeon, hospital, and staff as he established the relationship. Using personalized communications provides a(n) _______________. a. opportunity to sell additional types of products b. way to ensure future sales c. effective means of increasing brand loyalty d. opportunity to pave the way for good customer service e. way to create a bond with the hospital
1. ______ estimate is based on cost per usable unit from past projects. A. Unit price estimate B. ROM (Rough Order of Magnitude) estimate C. Assemblies estimate D. SF estimate with modeled SF cost data 2. The assemblies estimate adjusts for quality by _______. A. The specific method or material chosen B. The use of ¼, median, and ¾ prices C. The use of quality indices D. The use of the cheapest materials 3. Which of the following estimate is typically used for Value Engineering? A. Unit price estimate B. Assemblies estimate C. ROM (Rough Order of Magnitude) estimate D. SF estimate with modeled SF cost data 4. UNIFORMAT is based on ______, and MasterFormat is based on ________. A. Type of fundamental materials, and type of materials B. Volume of each space, and area of living space C. Materials, and type of occupancy D. Functions of building component, and work results
Which of the following statements is / are not a strategic operations management decision. I. Determines the customer's quality expectations and establishes policies and procedures to identify and achieve that quality. II. Determines how to recruit, motivate, and retain personnel with the required talent and skills. People are an integral and expensive part of the total system design. II. Determines the customer's quality expectations and establishes policies and procedures to identify and achieve that quality. IV. Determine procedures govern how you process daily transactions, perform the monthly financial close, compare actual spending to what's budgeted and ensure you meet auditor and tax requirements. O l and IV O IV only O Il only O Il and III
1. For each numbered (1-10) performance measure characteristic, select the appropriate lettered (A-J) descriptor that best explains the characteristic. 1. Financial _____ A. Readily quantified 2. Internal _____ B. Monetary units 3. Mandatory _____ C. Processes and capabilities 4. Lead _____ D. Performance drivers 5. Objective _____ E. Required by regulator 6. Nonfinancial _____ F. Discretion of management 7. Subjective _____ G. Nonmonetary units 8. External _____ H. Customers and shareholders 9. Lag _____ I. Judgment based 10. Optional _____ J. Outcome results