Liberty
University BUSI 303 quiz 4 solutions answers right
How
many versions: 6 different versions
The key components in successful operations management are
efficiency and effectiveness
External environmental factors that can affect the entry of
new entrants in another country can be
____________ is the ratio of output as it relates to
input—the conversion of inputs or resources into outputs of merchandise or
services
A major Proactive motivation factor includes
The availability of tools, such as forecasting, distribution
and inventory planning, and e-commerce allow many organizational processes to
be integrated across supply chains
The key factors that influence the entry mode selection are
The three aspects which are especially important to
international expansion are location, timing, and scope
It is important to remember that cost savings do not only
result from looking for the cheapest method but also from looking for the most
efficient method
Continuous improvement, sometimes referred to as __________,
is a management technique that historically involves several incremental
improvements to a process rather than a single overpowering improvement or
change
The ABC Classification System is used to categorize inventory
items and is also known as stock keeping units (SKU’s)
What market strategy is utilized when a corporate entity
needs complete control over every detail of the structure within the host
country
Just-in-time production or systems is a comprehensive set of
doctrines and systems founded on the philosophy that businesses should hold a
large inventory above what is necessary for immediate production or
distribution
Most firms typically choose to enter into global markets
from a proactive stance, but some are forced to enter the global market in a
reactive stance
Typical processes within an organization include which of
the following areas requiring management
Population growth is a great reference, and is always the
key indicator of a strong potential market
Joint ventures usually involve an alliance where two or more
companies contribute assets, which results in the formation of a new legal
entity
Successful global managers have an understanding of how to
appraise and adjust to the requirements of doing business in a culture
different from their own
The global strategic planning process is complex but does
not entail as many factors, variables, challenges, and risks as domestic
strategic planning
What are the two types of entry modes available into a
market
The necessary conditions for expansion into global markets
include all of the following except
Total amount of products that can be produced by the entire
operation in a given amount of time
Means to enhance the effectiveness of the value chain
Customer Focus, Participation and Teamwork, Continuous Improvement
and Learning
Decisions controlled by home office or in foreign location
Include experts in each technical area within an organization are
at horizontal in nature
The slowest process in a multistep production process that limits
total output
Total amount of products that can be produced by the entire
operation in a given amount of time
Greater gain comes from identifying which parts of the process is
a constraint to the whole
Manage noncritical process within an organization an can
contribute to nearly all aspects of an organization
Comprises the inventory planning and ordering category of
inventory control
When a firm incurs unanticipated costs from underestimating
foreign regulations
Quest for profit, competitive advantage, market opportunities,
economies of scale, tax benefits
Gaining access to resources , cutting cost, capitalizing on
special feature location, expanding markets
Contributor to the positional advantage of the company and
long-term, overall firm performance
Knack to acquire, interpret, and integrate information regarding
the global competitive environment
Allows one party to use a property right in exchange for payment
to the other party
Antitrust laws, tax programs, minimum wage, legislation, pollution
and pricing policies
Tend to possess experiential/knowledge to many cultures
Commitment from management across the organization
Competitive pressure, excess capacity, overproduction, declining
home market
Direct
market accession offers a firm low
risk, gives them a simple way to initiate the
process of entering a global market, and helps the firm meet demands and challenges
The
term logistics refers to the movement of finished products, semifinished products,
components, and materials between various locations
(blank) is a significant contributor to the positional advantage of the company and
is related to the longterm, overall firm performance
A disadvantage of M & A is:
The
availability of tools, such as forecasting, distribution and inventory planning, and e commerce allow many organizational processes to be integrated across supply chains
One of the most important questions to answer when entering the global market is that of
The
expectation of standardized goods and services with a corresponding level of
consistency in service, quality, and performance across nations and regions signifies the trend towards global commerce
The key factors that influence the entry mode selection are
Which
of the following is a strategic capability to necessitate the development of a global
operations strategy?
Businesses must carefully consider the benefits, advantages, challenges, and risks involved to compete within an international market.
All of the following are capacity issues except
(blank) represent situations where a company with experience in specific
business areas or industrial sectors makes personnel available to perform general or
specialized management functions for another company.
The
global strategic planning process is complex but does not entail as many factors, variables, challenges, and risks as domestic strategic planning
External environmental factors that can affect the entry of new
entrants in another country
can be
Population
growth is a great reference, and is always the key indicator of a strong
potential market.
All of the following are key issues of global logistics except
A franchise is an agreement that allows one party to use a property right in exchange for
payment to the other party
The key components in successful operations
management are efficiency and effectiveness
(blank) is the ratio of output as it relates to input—the conversion of inputs or resources into outputs of merchandise or services
The
ABC Classification System is used to categorize inventory items and is also known
as stock keeping units (SKU’s)
What market strategy is utilized when a corporate entity needs complete control over every detail of the structure within the host country?
In most cases, exporting and importing requires a maximum initial investment and may allow
a business to develop key relationships with export/import firms (intermediaries) that
will aid in ensuring success into the new market
(blank) issues include performance objectives, the degree of vertical integration, outsourcing within the supply chain, what will be measured, and how to accomplish the measurement
The
necessary conditions for expansion into global markets include all of the following except:
Organizations must ensure that they do not plan hurriedly or rush into foreign markets to jump on an opportunity for quick cash
What are the two types of entry modes available into a market?
Successful global managers have an understanding of how
to appraise and adjust to the requirements of doing business in a culture different from their own
A major Proactive motivation factor includes:
The
Theory of Constraints (TOC) suggests that the greater gain will come from identifying
which part of the process is a constraint to the whole, rather than focusing on increased output from an entire process
The greatest reactive motivation for global expansion is the prospect of global sales.
Which of the following is NOT an area of competition for business in a global market?
It is important to remember that cost savings do not only result from looking for the cheapest method but also from looking for the most efficient method
Most
firms typically choose to enter into global markets from a proactive stance, but some are forced to enter the global market in a reactive stance
The process of global operations
management requires making a number of inner-related decisions regarding all of
the following except
The three aspects which are especially
important to international expansion are location, timing, and human resources
Conditions for expanding into the global
market include all except
Identify, by checking the letters, the
basic, essential steps when considering global expansion
The signs that a global business is
experiencing inventory problems include all of the following except
Kaizen is a management technique that
historically involves several incremental improvements to a process rather than
a single overpowering improvement or change
The three major principles of Total
Quality Management are Customer Focus, Participation and Teamwork, Continuous
Improvement and Learning
Which is not a vital consideration for
determining managerial commitment to expanding globally
The overall success of the business is
dependent upon the and of every function within the
production process
The three strategic capabilities that are
necessary for the development of a global operations strategy are efficiency and competitiveness, responsiveness and flexibility, and capacity to leverage on a worldwide
basis
Most firms typically choose to enter into global markets from a
proactive stances, but some are forced to enter the global market in a reactive
stance.
Which of the following is NOT an area of competition for
business in a global market?
Population growth is a great reference, and is always the key
indicator of a strong potential market.
Successful global managers have an understanding of how to
appraise and adjust to the requirements of doing business in a culture
different from their own.
The necessary conditions for expansion into global markets include
all of the following except:
The global strategic planning process is complex but does to
entail as many factors, variables, challenges, and risks as domestic strategic
planning.
Organizations must ensure that they do not plan hurriedly or
rush into foreign markets to jump on an opportunity for quick cash.
The three aspects which are especially important to
international expansion are location, timing, and scope.
What are the two types of entry modes available into a market?
A major Proactive motivation factor includes:
The expectation of standardized goods and services with a
corresponding level of consistency in service, quality, and performance across
nations and regions signifies the trend toward global commerce.
One of the most important questions to answer when entering the
global market is that of
Direct market accession offers a firm low risk, gives them a
simple way to initiate the process of entering a global market, and helps the
firm meet demands and challenges.
Businesses must carefully consider the benefits, advantages
challenges, and risks involved to compete within an international market.
The key factors that influence the entry mode selection are
In most cases, exporting and importing requires a maximum
initial investment and may allow a business to develop key relationships with
export/import firms (intermediaries) that will aid in ensuring success into the
new market.
___________________ is a significant contributor to the
positional advantage of the company and is related to the long-term, overall
firm performance.
External environmental factors that can affect the entry of new
entrants in another country can be
Which is not a vital consideration for determining managerial
commitment to expanding globally?
Joint ventures usually involve an alliance where two or more
companies contribute assets, which results in the formation of a new legal
entity.
________________ are utilized to provide expertise to
inexperiences exporters as they enter overseas markets.
A franchise is an agreement that allows one party to use a
property right in exchange for payment to the other party.
_____________ represent situations where a company with
experience in specific business areas or industrial sectors makes personnel
available to perform general or specialized management functions for another
company.
The great reactive motivation for global expansion is the
prospect of global sales.
What market strategy is utilized when a corporate entity needs
complete control over every detail of the structure within the host country?
which of the following is a strategic capability to necessitate
the development of a global operations strategy?
(T/F) the key components
in successful operations management are efficiency and effectiveness
all of the following are capacity issues except
typical processes within an organization include which of the
following areas requiring management
(T/F) capacity, in terms
of production oriented firms, refers to the total amount of products that can
be produced by the entire operation in a given amount of time
(T/F) the theory of
constraints (TOC) suggests that the greaten gain will come from identifying
which part of the process is a constraint to the whole, rather than focusing on
increased output from an entire process
a disadvantage of M & A is
(T/F) Kaizen, utilized
from the executive levels of the firm to the line of workers is a tool used in
the managing of the total production process to generate an exceptional product
or service
is the ratio of output as it relates to input- the conversion of
inputs or resources into outputs of merchandise or services
(T/F) Just-in-time
production or systems is a comprehensive set of doctrines and systems founded
on the philosophy that businesses should hold a large inventory above what is
necessary for immediate production or distribution
(T/F) The ABC
classification system is used to categorize inventory items, and is also known
as stock keeping units (SKUs)
(T/F) the term logistics
refers to the movement of finished products, semi-finished products,
components, and materials between various locations
continuous improvement, sometimes referred to as
_______________, is a management technique that historically involves several
incremental improvements to a process rather than a single overpowering
improvement or change
(T/F) strategic planning
level decisions are the highest level or logistics decisions
which of the following is NOT a type of observable
production-oriented waste?
all of the following are key issues of global logistics except
(T/F) the availability of
tools, such as forecasting, distribution and inventory planning and e-commerce
allow many organizational processes to be integrated across supply chains
____________issues include performance objectives, the degree of
vertical integration, outsourcing within the supply chain, what will we be
measured, and how to accomplish the measurement
what are the three types of of demand forecasting models?
means to enhance the effectiveness of the value chain
various versions of products manufactured and distributed by a
company
degree of centralization/decentralization, hierarchy, and number
of echelons
the acquisition of raw materials, finished goods manufacturing,
and distribution channels
greater gain comes from identifying which parts of the process
is a constraint to the whole
tool used in managing of the total productions process to
generate an exceptional product or service
demand forecasting, inventory management, production,
procurement, transportation, warehousing
the slowest process in a multistep production process that
limits total output
customer focus, participation and teamwork, continuous
improvement and learning
business should hold slight or zero inventory outside what is
necessary for immediate production/distibution
decisions controlled by home office or in foreign location
allows decision making authority to occur where the decisions
are to be made
total amount of products that can be produced by the entire
operation in a given amount of time
include experts in each technical area within an organization
are at horizontal in nature
manage noncritical process within an organization and can
contribute to nearly all aspects of an organization
constraint management, concurrent planning, global insight,
advance warning, built in business optimization
groups machines according to their roles in the production
process
comprises the inventory planning and ordering category of
inventory control
set of guidelines for quality management and standards
aka Kaizen, is a management technique that historically involves
several incremental improvements to a process rather than a single overpowering
improvement or change
includes factors such as utilization of space for handling of
materials, safety, shipping and receiving, employee movement and communication
business decision as to which nation or region in which to
locate facilities has far-reaching consequences
accounting term that describes tangible property used in the
operation of a business, such as buildings, machinery, fixtures, furnitures,
and equipment
includes a wide range of locations, plants, warehouses, vendors,
and customers that need to be managed across great distances, time zones, and
cultures
decisions that cannot be take lightly, can affect a companies
production, working capital, cost of borrowing and competitive position
involves the management of the process and production activities
that produce the goods or services
inventory that are used in the manufacturer's conversion process
to produce components, subassemblies, or finished products
has the goal to achieve maximum customer responsiveness at the
least possible cost
three major principles: customer focus, participation and
teamwork, and continuous improvement and learning
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