Business Design and Analysis Quiz

Studying a competitor's product design to learn from it.

Comparing your product or process to industry standards.

The sales quantity where revenue and total costs are equal.

Selling above the break-even point.

Reducing the number of parts and features of a product, improving efficiency.

Every business is managed through finance, marketing, and operations management.

Managing cash flow, assets, and capital investments.

Plans, coordinates, and controls resources for product/service creation.

Redesigning processes to improve efficiency and reduce costs.

Eliminating non-value-added activities.

An activity that doesn't contribute to the final product or service.

Physical change of raw materials.

Improving quality is NOT a necessary outcome of business process re-engineering.

A company's focus on adapting to changing customer demands or product variations.

Companies prioritizing flexibility and customization usually require highly skilled hourly workers.

Factors that make a company's product stand out (winners) and basic requirements to be considered (qualifiers).

Decisions related to how products are made from start to finish.

Technology choices should align with the company's overall goals and objectives.

Resources used in a transformation process to create an output or product. Examples include services, technology, buildings, and information.

Long-term decisions that set the direction for the entire organization.

Specific, day-to-day decisions that support strategic goals.

The function responsible for designing, managing, and controlling the processes of creating goods and services.

The use of quantitative techniques to solve operational issues.

A task that increases the worth of a product or service from the customer's perspective.

Activities that are not directly related to the creation of a product or service. Advertising, for example.

Choices a company makes about how to produce and deliver its goods or services. These decisions involve activities like production, distribution, and technology.

Performing tasks effectively and minimizing waste, leading to better use of resources and lower costs.

The process of monitoring the external environment for changes, trends, and potential opportunities or threats.

A unique strength or set of skills that gives a company a competitive advantage.

A plan that outlines how a company will manage its operations to achieve its business objectives.

The strategic goals a company chooses to focus on, like cost, quality, flexibility, or delivery speed.

Equipment used for a variety of tasks, often adaptable to different products or processes.

Employees who are paid by the hour and have specialized knowledge or abilities needed for complex tasks.

Factors that directly influence a customer's decision to choose one product or service over another.

A metric used to assess the efficiency of a process or operation, calculating outputs over inputs.