BCOR 360 Exam 1 Questions

A well-designed scorecard should consist of about ______________ distinctive measures.

20-25

Services account for about what percent of the American economy?

80%

Which of the following are steps in ABC classification?

A and C only -Classify companies by sales -Modify classifications based on strategic issues

Which of the following are the two characteristics that distinguish service operations?

A and C only -Customer contact -Tangibility

Which of the following characterizes a goal-setting culture?

A and D only -Innovation and change happen without coercion. -Passion emerges and people achieve higher levels of personal growth

Which of the following companies made the advertising tagline, "Everyday low price," famous?

A&P

Which of the following is not a synthesis tool commonly used in scanning initiatives?

ABC Classification

What are the two types of touch points?

Acquisition; Utilization

Which of the following is not one of the steps in the DMAIC quality methodology?

Act

Which of the following is not a process in the SCOR model/methodology?

Activate

Which of the following is a type of team you are likely to encounter in today's supply chain decision-making environment?

All of the above -Advisory Councils -Commodity Team -Customer Relationship Management Team -Problem-solving Team -Supplier Development Team

A well-designed rotation program that is designed to cultivate the cross-experienced supply chain manager will help new hires ________________________.

All of the above -Develop an appreciation for customer needs. -Gain a better perspective of what goes on in the different functional areas. -Learn the "language" spoken in each functional area. -Build stronger, more collaborative relationships with colleagues across the company. -Gain an understanding of how suppliers contribute to value creation.

Which of the following is true of expectancy disconfirmation theory?

All of the above -When customers buy something, expectations and experiences interact. -Experiences that don't meet expectations lead to dissatisfaction. -Experiences that exceed expectations achieve delight and lead to repeat business. -Feelings of satisfaction (or dissatisfaction) influence future purchase decisions.

Which of the following activities play a key, but interconnected role in the value chain?

All of the above -Operations -Logistics -Marketing -Finance -Human Resources

Which of the following practices/techniques helps to eliminate poorly designed jobs that alienate workers, reduce productivity, and stifle learning?

All the above -Job Enrichment -Job Enlargement -Employee Involvement

Which of the following accurately depict elements of a proactive scanning process?

All the above -Look everywhere—both inside and outside the firm. -Use a variety of tools—both formal and informal. -Synthesize insights by looking for common themes and trends -Communicate persuasively by creating a sticky message.

By changing the manufacturing environment it is possible to achieve higher levels of performance across all value dimensions. Which of the following is a critical aspect of improving the environment?

All the above -Increase process visibility -Better share information -Build a flexible workforce

Which of the following are issues that make services challenging to manage effectively?

All the above -Services can't be shipped -Services can't be inventoried -Services delivery is hard to control

Which of the following accurately describe a supply chain map?

All the above -To read a supply chain map, you start with the focal firm -Suppliers are mapped on the left side of the focal firm -Customers are depicted on the right side of the focal firm -Suppliers and customers are organized in columns called tiers

Which of the following describes place utility?

Assuring that products and services are where customers expect to find them—when they are needed.

Which of the following is one of the fundamental steps in resource orchestration?

B and C only -Select team members -Assign team roles

Why should you care about needing to learn how to effectively manage services?

B and C only -Services are very different from manufacturing operations. -Services productivity growth and innovation are critical to future prosperity.

Which of the following are important sources of ideas for KPIs that you should include as part of your balanced scorecard?

B, C, & D only -Industry Standards -Customer Feedback -Best-in-class Benchmarks

Which of the following is a characteristic of a pet project program?

B, C, and D only -Pet-project champions recruit team members to join the team. -The pet-project team sets its own performance goals. -The pet-project team builds its own plan, including the identification of performance milestones.

Which of the following are ways to manage the fact that services are perishable—i.e., they cannot be inventoried?

B, D and E only -Build capacity for peak demand and live with excess capacity during off-peak demand -Build capacity for average demand and be willing to lose sales when demand is higher -Try to influence consumer behavior to match demand to supply—e.g., discounts for non-peak times.

Understanding + _______________ + Execution = Winning Results

Behavior

Which of the following is a reason or rationale for the development of the balanced scorecard concept?

Both A and C -Existing measures were too short-term focused. -Existing measures were to financially oriented.

Focusing on the 3M fish story, which of the following are benefits of empowerment?

Both B and C -Empowerment is an essential element of the learning organization. -Empowerment can lead to innovation and better new products.

Which of the following measurement mantras focuses on what you should measure?

Both B and C -What gets measured gets done -If you can't measure it, you can't manage it

Which of the following initiatives represents a true customer-success strategy?

Both a and c -At the customer, for the customer -Six sigma at the customer

Which of the following accurately describes a value proposition?

Both b and c -A value proposition is a promise you make to customers about how your firm will meet their needs. -A value proposition derives from a deep understanding of customer needs as well as the firm's capabilities.

_______________ processes influence how you deal with information; ________________ processes influence how you react to experiences.

Cognitive; Affective

The lack of total costing negatively influences investments needed to improve service levels, _______________, and lifetime stream of profits.

Customer Satisfaction

Which of the following customer-service strategies focuses on meeting industry standards in key operational areas like product quality, productivity, product availability, on-time delivery, and service reliability?

Customer Service Strategy

Which of the following primary technology systems is needed to make sense of data by making hidden relationships visible?

Data Display

When productivity growth is good, you need to ________________. When productivity growth is bad, you need to ___________________.

Disseminate the practice elsewhere; Take corrective action

Which of the following is not a key benefit of a measurement strategy that is based on the use of balanced scorecards?

Drives a fundamental focus on financial performance

About 75% of the world's data was created in the past two years—a fact that is changing the way companies view and manage data.

False

According to Scott Adams, creator of the Dilbert comic strip, "Employees are our most valuable asset" is the great management truth.

False

Aggressive benchmarking will enable you to become the best-in-class company on the practice/process you are benchmarking.

False

Although service industries account for about 80% of jobs in the U.S. economy, they only represent about 40% of the U.S. GDP.

False

Consistent repeat business is a clear and unambiguous signal that a customer is loyal.

False

Empowerment gives employees autonomy over and responsibility for decision-making related to every aspect of the value-creation process.

False

Empowerment programs/strategies are best suited for companies in high-tech, high-fashion, or other fast-past, so-called glamor industries.

False

Everyone engages in, and ultimately thrives, in an empowerment culture.

False

Henry Ford invented the assembly line.

False

If you deliver to promise, exceed industry standards, and meet customers' a priori expectations, you will definitely impress the customer and entice repeat purchase.

False

In the Internet age, delivery has been called the most vital factor to long-term competitive success.

False

Productivity growth, by definition, is good.

False

SWOT analysis focuses on internal threats and opportunities as well as external strengths and weaknesses.

False

The industrial revolution marked the beginning of good operations management practice.

False

To really execute a customer satisfaction strategy, you need to find out how customers both perceive and measure your firm's performance.

False

Toyota's lean production system has documented that there is a single best or perfect way to make things.

False

When it comes to data capture, bricks-and-mortar stores like Walmart have a distinct advantage over their online rivals.

False

You should treat all customers equally. This is simply fair practice and good business.

False

Total costing is hard because relevant costs can arise in _________________ or at other ________________.

Functions; Times

Which of the following is not a fundamental question you should ask as you design your company's balanced scorecard?

How can we maximize share price?

Which of the following is not a process in the SCOR model/methodology?

Ideate

Too often, companies sacrifice __________ measurement on the altar of __________ measurement.

Insightful; Easy

Which of the following is not a critical design decision?

Inventory Management

Because services can't be shipped, you lose decision-making flexibility. ___________________ and _____________________ are everything.

Location; Timing

Which of the following measurement mantras focuses on how you should measure?

Measure twice; cut once

When it comes to achieving corporate goals, which of the following is more important than measurement?

None of the above -Setting the right strategy -Hiring the right people -Providing the right training

Which of the following is not a process in the SCOR model/methodology?

None of the above; i.e., they are all core SCOR processes -Plan -Source -Make -Deliver -Return

Which of the following is not a functional area that should be included in a well-designed rotation program designed to cultivate the cross-experienced supply chain manager?

None of the above; that is, they should all be included -Assembly line -Production control -Logistics -Purchasing -Finance

_______________ and _______________ are primarily responsible for creating form utility.

Operations; Purchasing

Which of the following is not an objective of proactive scanning?

Paint a picture of the future 20+ years into the future.

What are the two primary types of scanning?

Passive & Proactive

Which of the following represents the dark side of modern data analytics and the trend toward customer profiling?

Past buying behavior does not always predict future behavior.

As you look at a supply chain map, you can be confident you are looking at a winning supply chain if it depicts the right ______________ and the right _________________.

Players; Relationships

Which of the following is not one of the core value dimensions?

Process Improvement

To use productivity measurement well, you need to ________________, ________________, and ________________.

Recognize performance has changed; Find out why; Take action

Which of the following is not one of the three fundamental steps in resource orchestration?

Scan the environment

The balanced scorecard was developed to help companies avoid the counterproductive decisions that emerged from too much emphasis on ______________ and ______________ measures.

Short-term; Financially Oriented

Which of the following is not one of the eight factors used to assess quality?

Statistics

Which of the following accurately describes the bullwhip effect?

The bullwhip effect argues that variations in demand magnify as they move upstream toward suppliers.

Which of the following is not one of the characteristics of an indispensable supply chain manager?

Topper

Which of the following companies invented the lean six sigma paradigm shift?

Toyota

A bad scorecard is worse than no scorecard.

True

A successful supply chain leader achieves key goals through the people you work with.

True

ABC classification relies on the Pareto principle. The Pareto principle observes that 80% of your customers drive 20% of the benefits.

True

An open systems view reiterates that companies operate in a dynamic, ever-changing environment, requiring managers to constantly adapt in order to remain competitive.

True

As an operations manager, your job is to create customer value.

True

At companies that value proactive scanning, scanning is part of everyone's job.

True

Customer relationship management systems (CRM) can help you develop customer profiles, which is an advanced form of customer segmentation.

True

Customers should really be at the center of your decision-making world because they are the only entity that puts money into a supply chain.

True

Effective measurement helps managers make better decisions by helping them understand how processes work.

True

Forecasting is the tool you use to guess what products are going to sell—and when they will sell.

True

In a goal-setting environment, change ceases to be a threat. Instead, change gives people permission to experiment—and to excel.

True

People mold their expectations and behavior to measures; therefore, you need to measure the right things..

True

Supply chain management involves working closely with key suppliers (and customers) to co-create customer value.

True

Tangibility of Offerings refers to the fact that you can't hold a service in your hand—i.e., you can only experience it as you consume it.

True

Teams are the foundation of organizational design because they make the big value-added decisions and drive the most strategic implementation projects.

True

The economic order quantity (Q) balances the costs of setting up production with the costs of storing goods.

True

The value chain expresses the idea that different functions within the firm are interconnected and only by working together can the firm effectively create customer value and compete in a tough competitive environment.

True

Which of the following is the missing phrase in this extended measurement mantra: "If you can't measure it, _________________________, therefore, you can't manage it."

You don't understand it

When modifying classifications based on strategic issues, what are some possibilities that would make a customer more or less important?

a, b, and c only -A customer may possess unique skills that will drive future market advantages. -A customer may control a new patent that will spur sales growth. -Intensive collaboration may uniquely improve logistics customer service.

Which of the following hobbies illustrates a transformation process?

a, b, and c only -Art -Cooking -Do it yourself projects

Which of the following is a primary technology system employed in customer relationship management suites?

both B and C -Data Capture -Data Storage