BSAN562 Week 2 Quiz

Question 1

1

True/False

Outsourcing can help a company focus on its core competencies.

1. T

   True
2. F

   False

Question 2

2

Essay

Discuss the importance of developing a clear mission statement for an organization. How does this impact operations management?

Answer

Having clear mission statement is very crucial for organization’s growth, because, it clearly defines the purpose, goals, and values of the organization, and it helps organisations in all decisions. The mission statement plays key role in creating strategies, motivating employees and establishing strategic relations between different department of the organization. Having strong mission provides consistency to the organization in maintaining daily operations and realizing long-term goals. It also impacts efficiency of operations, increase customer satisfaction and enhanced competitiveness.

Question 3

3

Jumbled Sentence

The feedback loop in operations management is essential for continuous improvement of processes.

Question 4

4

Jumbled Sentence

The competitive advantage is achieved by distinguishing offerings in a way that adds value to the customer.

Question 5

5

Matching

Match the following components with their suppliers for the Boeing 787.

Prompts

Answers

1. 1

   Passenger doors

   Latecoere
2. 2

   Engines

   Rolls-Royce
3. 3

   Landing gear structure

   Messier-Dowty
4. 4

   Hydraulic actuators

   Teijin Seiki

Question 6

6

Matching

Match the following companies with their corresponding strategies.

Prompts

Answers

1. 1

   Boeing

   Global Strategy
2. 2

   McDonald's

   Multidomestic Strategy
3. 3

   Walmart

   Cost Leadership
4. 4

   Coca-Cola

   Transnational Strategy

Question 7

7

Matching

Match the following business strategies with their definitions.

Prompts

Answers

1. 1

   Cost Leadership

   Focus on becoming the lowest cost producer in the industry
2. 2

   Differentiation

   Provide unique products that offer distinct value
3. 3

   Global Strategy

   Standardized products offered worldwide
4. 4

   Flexible Strategy

   Ability to adapt quickly to market changes

Question 8

8

Multiple Choice

Which of the following is NOT a competitive advantage strategy?

1. Differentiation

2. Market Saturation

3. Cost leadership

4. Response

Question 9

9

Fill in the Blank

Strategic planning involves assessing the opportunities and threats that a company faces in the marketplace.

Question 10

10

Multiple Choice

What is one of the primary reasons for companies to globalize their operations?

1. Increase tariffs

2. Limit market reach

3. Reduce employee benefits

4. Improve the supply chain