POM Chapter 09 - Value Chain Management: Functional Strategies for Competitive Advantage

_____ is the fundamental rethinking and radical redesign of business procedures to
achieve dramatic improvements in critical measures of performance such as cost,
quality, service, and speed.

Which of the following is true about the impact of information systems and the
Internet on companies in general?

The development of new, often radically different kinds of goods and services is called
_____.

The gradual improvement and refinement of existing products over time as existing
technologies are perfected is known as _____.

The Donut House, a large donut bakery with outlets across several cities, improves the
quality of the dough it uses and introduces a wide range of toppings and glazes to go
with its donuts. This is an example of _____.

Which of the following is true about quantum product innovations?

The goods and products manufactured using fundamental shifts in technology as a
result of pioneering discoveries are termed:

Illumin, a light bulb manufacturing company strives to improve the longevity and
brightness of its bulbs by continuously changing designs and trying different
combinations of materials and component parts while manufacturing them. This is an
example of _____.

The management of the value-chain activities that bring new products or services to
market is called _____.

Which of the following must managers in product development avoid to promote
innovation and speed up product development?

A technique that forces managers to choose among competing projects so functional
resources are not spread thinly over too many projects is referred to as:

The first step in a stage–gate development funnel is to:

The _____ plan specifies all of the relevant information that managers need to decide
whether to go ahead with a full-blown product development effort.

A written agreement that details factors such as responsibilities, resource
commitments, budgets, time lines, and development milestones is referred to as a
_____.

The members of a team who bear primary responsibility for the success of a project
and who stay with a project from inception to completion are called:

Which of the following should an organization do in order to obtain a competitive
advantage through superior efficiency?

A tire company's products are more expensive than those offered by its competitors,
but are still sought after by customers since they are more durable and perform better
under harsh conditions. The tire company, in this case, has achieved competitive
advantage through _____.

Which of the following should an organization do in order to obtain a competitive
advantage through superior innovation?

Users of Adobe Reader, created by Adobe Systems Incorporated, are prompted to
provide feedback on their experiences with the software in a bid to improve the
product. Adobe Systems Incorporated, in this case, is trying to gain a competitive
advantage through:

A _____ is a plan of action to improve the ability of each of an organization’s
departments to perform its task-specific activities in ways that add value to an
organization’s goods and services

The development of a set of functional-level strategies that support a company's
business-level strategy and strengthen its competitive advantage is known as:

A(n) _____ is a coordinated series or sequence of functional activities needed to
transform inputs into finished goods or services

Which of the following functions can help increase customer perceptions of the utility of
a company's product through brand positioning and advertising?

Which of the following functions is responsible for transforming creating, assembling, or
providing a good or service?

The _____ function plays a crucial role in an organization's value chain by locating
customers and then informing and persuading them to buy the company’s products

A company with a strong _____ can create a perception of superior value in the minds
of its clients by solving client problems and supporting clients after they have
purchased its product.

Attaining _____ includes all the other methods of achieving competitive advantage

Managers try to develop functional strategies that allow the organization's value chain
to deliver to customers:

Which of the following is not a product attribute or quality that most customers prefer?