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Exam (elaborations)

MGSC 395 Questions With Solutions

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  • Course
  • MGSC 395
  • Institution
  • MGSC 395

MGSC 395 Questions With Solutions What are core competencies? Unique strengths already possessed by the firm: workforce, location, distribution and financial knowhow and technology/analytics What are competitive capabilities and competitive priorities? Competitive capabilities - ACTUAL positio...

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  • October 19, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGSC 395
  • MGSC 395
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UpperClass
MGSC 395 Questions With Solutions

What are core competencies? Unique strengths already possessed by the firm: workforce,

location, distribution and financial knowhow and technology/analytics




What are competitive capabilities and competitive priorities? Competitive capabilities -

ACTUAL positioning achieved by the firm (lowest cost, highest quality, delivery speed, etc.)




Competitive priorities - how am I going to differentiate myself in the market? DESIRED

positioning of the firm (lowest cost, highest quality, delivery speed, etc.)




Order winners Product features that a product needs to have to win customers




Order qualifiers Product features that put a product on the customer's consideration list




What is labor productivity? How is it calculated? How is it interpreted? The ratio of

output to input (output/input)




If you get an answer of 2, it means for every 1 value of labor generated you make 2 values of

output

, MGSC 395 Questions With Solutions

What is multi-factor productivity? How is it calculated? How is it interpreted? Output/all

inputs OR sales price/standard cost




What are four common process decisions for effective processes? Job shop, batch process,

assembly line process, continuous flow process




Job shop Highly specialized, high variety, i.e. prescription glasses or wedding cakes




Batch Higher variety, low volume, i.e. Caterpillar tractors




Assembly Line Some variety, more volume, some flexibility but not a lot within each

station in the line i.e. Honda Civics




Continuous Flow Lowest variety, highest volume, low skilled labor, stopping processes

for a few days can highly disrupt processes, COST is main competitive priority i.e. Gasoline




Production and inventory management strategies Engineer to order, make to order,

assembly to order, make to stock

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