The chief executive officer (CEO) and other top-level managers often involve
other people to develop the mission statement because:
,a.the mission deals more directly with product markets and
customers. b.it is viewed as a task that can easily be delegated.
c.the mission deals more directly with capital markets and shareholders.
d.forming the mission is typically not the final responsibility of the CEO or other
top-level managers. - SOLUTION:->>>>The mission deals more directly with
product markets and customers
A firm should outsource only activities where it:
a.has the probability of developing core competencies.
b.has developed the ability to innovate.
c.cannot match up a value chain activity with a support function.
d.cannot create value or where it is at a substantial disadvantage compared to
competitors. - SOLUTION:->>>>cannot create value or where it is at a
substantial disadvantage compared to competitiors
Which of the following strategies helps a firm concentrate on understanding its
customers and their needs with greater clarity as a foundation for innovation?
a. Market segmentation strategy
b. Business model strategy
c. Digital strategy
d. Cost leadership strategy - SOLUTION:->>>>Digital strategy
When a firm earns below-average returns, it:
, a. is able to maximize the interests of all stakeholders.
b.should reward those stakeholders who have the least
power.
c.should try to minimize the amount of support lost from stakeholders.
d.should treat all stakeholders the same. - SOLUTION:->>>>should minimize
the amount of support lost from stakeholders
Which of the following statements about a flexible manufacturing system (FMS) is
NOT true?
a. .Used properly, an FMS allows the firm to increase its effectiveness in
responding to changes in its customers' needs, while retaining low-cost
advantages and consistent product quality.
b. An FMS is a computer-controlled process that allows firms to produce a
variety of products in moderate, flexible quantities with a minimum of manual
intervention.
c. The goal of an FMS is to eliminate the "low cost versus product variety" trade-
off that is inherent in traditional manufacturing technologies.
d. An FMS allows a manufacturer to connect with its suppliers, distributors, and
customers, which enables it to satisfy customer expectations in terms of product
quality and delivery speed. - SOLUTION:->>>>An FMS allows a manufacturer
to connect with its suppliers, distributors, and customers, which enables it to
satisfy customer expectations in terms of product quality and delivery speed.
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