bcor 330 test 4

which of the following is an example of something that would occur during the Measure and Analyze steps of the Six Sigma process? more than one answer may be selected. (1) determine the number of imperfect products that occurred at a manufacturing plant every month (2) compare the number of imperfect products produced at two different manufacturing plant locations and describe any procedural differences between the locations (3) determine the different types of training that occur at different corporate locations (4) compare the turnover ratio of factory workers at different corporate locations

(1) (2)

why don't more companies create disruptive innovations? more than one answer may be correct. (1) significant company resources go to improving existing products and processes (2) much imagination and foresight are necessary to successfully innovate (3) an enormous number of regulation in business prevent innovation (4) political factors can provide opportunities or threats or increase competition

(1) (2)

how does a first-mover firm's ability to develop logistics and acquire raw material ahead of competitors impact success? more than one answer may be correct. (1) it increases the firm's ability to bring out new products quickly (2) it is especially important if materials are hard to find (3) it saves the firm money because raw materials are available early (4) it allows the firm to shift from manual production to assembly line production

(1) (2) (3)

which THREE advantages according to lieberman and montgomery are available to a firm that is the first to introduce a product into its market? (1) the firm's employees will learn from experience how to use technologies and processes to develop the product (2) the firm has an opportunity to secure raw materials and to develop logistics ahead of any other competitors (3) any company's competing product must meet the specifications established by the initial entrant (4) the organization can focus on a differentiation strategy while also seeking price leadership

(1) (2) (3)

which of the following are the tenets of lean manufacturing that Dr. James Womack included in his book "The Machine that Changed the World"? more than one answer may be selected. (1) identifying how each product acquires value (2) relentlessly pursuing perfection (3) creating products that customers aren't aware that they want (4) including redundant steps as an extra measure of quality control

(1) (2) (4)

over 50 percent of all innovative products fail in the market, while over 80 percent of the successors to the products succeed. this is a key tenet of _________ strategy. (a) differentiation (b) fast-follower (c) first-mover (d) rapid competition

(b) fast-follower

under what type of system are employees encouraged to halt the manufacturing process in the event of a manufacturing error or safety risk? (a) red ocean development system (b) lean manufacturing system (c) DMADV database system (d) six sigma work system

(b) lean manufacturing system

coffee vendors who operate small, drive-up coffee stands find it difficult to charge significantly higher prices than their many competitors do. what aspect of the coffee stand business makes raising prices difficult? (a) it's high barriers to entry (b) it's large economies of scale (c) it's low barriers to entry (d) the high monopolistic competition

(c) it's low barriers to entry

what is the relationship of blue ocean strategy to price leadership versus product differentiation? (a) an organization focuses on EITHER price leadership OR by making product improvements with a blue ocean strategy (b) with differentiation strategy, an organization offers a product with qualities that give it a unique appeal (c) with a blue ocean strategy, an organization focuses on BOTH differentiation AND price leadership (d) with price leadership, an organization seeks to offer a product to a large market at the lowest possible price

(c) with a blue ocean strategy, an organization focuses on BOTH differentiation AND price leadership

Making use of the research and development conducted by the market innovator and then developing a competing product at a lower price is referred to as the ________ strategy. (a) blue ocean (b) red ocean (c) disruptive innovation (d) fast-follower

(d) fast follower