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Developing a Business Strategy Quiz

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Questions and Answers

What is the main purpose of producing and selling environment-friendly products according to the text?

To increase competition

To maximize profits

To reduce pollution and waste (correct)

To save on production costs

What is the purpose of a flexible response strategy in the context of the text?

To avoid shortages of goods in the market (correct)

To minimize environmental impact

To maximize competition with other companies

To make necessary changes in production plans

What are 'Order qualifiers' in the context of types of operations strategy?

Characteristics that make products superior to the competition

Characteristics perceived as minimum standards for purchase (correct)

Characteristics focusing on cost reduction

Characteristics related to eco-friendliness

What does 'Quality-based strategies' focus on according to the text?

Maintaining or improving product quality Signup and view all the answers

What does 'Productivity Growth' measure according to the text?

Current period productivity compared to previous period productivity Signup and view all the answers

What is the focus of developing a business strategy?

Understanding the market Signup and view all the answers

In the context of operations strategy, what is the purpose of competitive priorities?

Service and service quality Signup and view all the answers

Under which competitive priority does a company sell its product at a very low price?

Price or cost strategy Signup and view all the answers

When does an operations strategy get developed?

After the business strategy Signup and view all the answers

What type of customers are attracted by a quality strategy in operations?

Customers who prefer top quality products Signup and view all the answers