Strategic Management of Resources Session 1 … Quiz 1. Name at least 4 components components of an organizat organization’s ion’s strategy development: a. Developmen Developmentt of time horizons horizons b. Identication and evaluation of key key events c. Developmen Developmentt of a plan to create, create, hasten hasten or compound a distinctive competence d. reation of a competitive advanta!e e. "le#ibility "le#ibility of decision decision patterns patterns f. $ransforma ransformation tion of inputs inputs into value%adde value%added d outputs !. ommitment of necessary necessary resources resources 2. What are are the four four major major types types of strategy? strategy? a. "inancial "inancial strate!y strate!y b. &roduct &roduct development development strate!y strate!y c. 'perat 'peration ions s strate strate!y !y d. (arketin! (arketin! strate!y strate!y . What are are the three three types of !usiness !usiness strategy? strategy? a. &rice &rice leader leadership ship b. &roduct &roduct di)erentiatio di)erentiation n c. ustom ustomer er focus focus 4. Name at least 4 characteristi characteristics cs that create create a competitive advantage. a. &rice rice b. Qualit Quality y c. Delive Delivery ry speed speed d. Delivery Delivery reliabilit reliability y e. "le#ib "le#ibilit ility y f. &rodu roduct ct desi desi!n !n !. Serv Service ice
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$. %n order *inner is a competitive characteristic that causes a &rm’s customers to choose that &rm’s goods over those of its competitors. '. %n order +ualier is a competitive characteristic that the &rm must have to !e a via!le competitor in the mar(etplace. ). *ist at least 4 goals of +,-. a. Improve the corporate health and character of the company !. ombine the e)orts of all employees to establish a cooperative system c. stablish a +uality assurance system and obtain the condence of both customers and consumers d. ontinually achieve the hi!hest +uality in the *orld e. stablish a mana!ement system that can secure prot in times of slo* !ro*th and can meet related challen!es f. Sho* respect for humanity, nurture human resources, consider employee happiness, and provide a cheerful *orkplace !. -tilize statistical methods for +uality control. . What is a methodology designed to ensure that all the major re/uirements of the customer are identi&ed and su!se/uently met or e0ceeded through the resulting product design process and the design and operation of the supporting production management system? a. Quality function deployment Q"D . *ist the four costs of /uality in the order that a company should spend its !udget on from highest to lo3est. a. &revention b. ppraisal c. Internal failure d. #ternal failure
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1. *ist at least of the principles of *ean -anufacturing. a. Specify value b. Identify the value stream c. (ake the value creatin! steps /o* d. 0et the customer pull value from the system e. elentlessly pursue perfection. 11. *ist 4 o!jectives of 56+. a. 2ain a competitive advanta!e b. Improve responsiveness to customers c. chieve perfect +uality d. Improve +uality of *ork life e. Improve /e#ibility f. Improve resource productivity !. -se time based mana!ement h. educe product cost