10 Questions
What are the three critical factors in developing a business strategy?
Business goal, understanding the market, and company strengths
Competitiveness is defined as:
How well an organization meets customer needs compared to competitors
Which of the following is NOT considered an operations strategy priority?
Maximizing shareholder returns
When would a company typically use a price or cost strategy?
When customers cannot differentiate the company's products from competitors'
What is the main focus of an operations strategy?
Enhancing operational functions for competitive advantage
What is the purpose of producing and selling environment-friendly products according to the text?
To reduce pollution and waste
What is the main focus of quality-based strategies mentioned in the text?
Maintaining or improving product quality
What does productivity measure according to the text?
The ratio between outputs and inputs
What are order qualifiers, as per the text?
Characteristics perceived as minimum standards of acceptability by customers
When are time-based strategies typically utilized?
To reduce the time needed to accomplish tasks
Test your knowledge on critical factors in developing a business strategy, including business goals, market understanding, strengths, and competitiveness. Learn about how organizations compete using operations such as product and service design, cost, location, and quick response.
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