Outsourcing Strategies Quiz

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What is the main reason customers may pursue sourcing strategies requiring services from external providers?

To limit the flexibility of the organization

To maintain control over all business functions

To access knowledge, experience, and resources beyond the organization's reach (correct)

To increase costs by owning and operating all required assets

Which type of Service Provider is typically the best choice for customers requiring services beyond their organization's capabilities?

Type II

Internal Services Unit

Type I

Type III (correct)

What does a good business model describe in an organization?

The relevance of owning all assets required for business functions

The means of fulfilling an organization's objectives (correct)

How to outsource all services

The importance of internal services over external providers

Why is having a unique service strategy important for a Service Provider?

To prevent any alternatives from displacing the organization Signup and view all the answers

What type of assets are better to buy rather than own and operate according to the text?

Assets necessary to execute certain business functions Signup and view all the answers

In managing services for a customer, where does the power of combining capabilities lie?

In selecting the right blend and balance of capabilities Signup and view all the answers

What is the main purpose of the Service Portfolio for a Service Provider?

To represent the commitments and investments made by a Service Provider across all customers and market spaces. Signup and view all the answers

Which of the following is NOT an actionable component of service definitions in terms of utility according to the text?

Business processes being constrained by location or time without slowing down the loan process disruption or loss. Signup and view all the answers

What is an integral part of a Service Provider's Service Portfolio according to the text?

Third-party services. Signup and view all the answers

Which governance aspect is highlighted as very important in Service Portfolio Management (SPM)?

Having resources for completion of projects, initiatives, and contracts. Signup and view all the answers

How do Service Providers identify their market spaces as per the text?

By defining service by business outcomes. Signup and view all the answers

What does the Service Portfolio represent for a Service Provider according to the text?

All the resources presently used or being released in various phases of the Service lifecycle. Signup and view all the answers

What is the core component of a good service management practice according to the text?

Service Strategy Signup and view all the answers

In service strategy, why is providing services in close geographical proximity preferred?

To minimize travel and distribution costs while leveraging local knowledge Signup and view all the answers

Which aspect guides the design of a service according to the text?

Categories of customer assets and the service models Signup and view all the answers

How are service strategies executed in a given market space?

By delivering and supporting the contract portfolio Signup and view all the answers

What do contracts in service strategy specify?

Specific levels of utility and warranty for every service Signup and view all the answers

Why is Service Strategy considered a prime component in good service management practice?

Due to its significance in delivering end-to-end coverage Signup and view all the answers

The Service Pipeline consists of services that are fully operational and in use by customers.

False Signup and view all the answers

Items can enter the Service Catalogue without undergoing a due diligence process related to costs and risks.

False Signup and view all the answers

The Service Catalogue is a subset of the Service Portfolio that is visible to customers.

True Signup and view all the answers

Approval for items to enter the Service Pipeline is granted by the Service Pipeline itself.

False Signup and view all the answers

The Service Portfolio management process includes activities such as defining inventories and prioritizing services.

True Signup and view all the answers

The general outlook of a Service Provider for the future is reflected in the Service Pipeline.

True Signup and view all the answers

The Service Portfolio is the only part of the Portfolio that recovers costs or earns profits.

True Signup and view all the answers

The Service Catalogue includes elements like supported products, ordering and request procedures, and risks.

True Signup and view all the answers

The Service Portfolio and Service Catalogue both play a role in securing the financial viability of the Service Provider.

True Signup and view all the answers

Service Improvement Plan is a standalone component separate from the Service Portfolio.

False Signup and view all the answers

The Service Portfolio should ensure alignment and prioritization to balance supply and demand effectively.

True Signup and view all the answers

Communicating decisions and allocating resources are tasks within the Service Charter.

True Signup and view all the answers

Service Providers should define service by business outcomes to identify their market spaces.

True Signup and view all the answers

The Service Portfolio includes only the commitments made to a single customer.

False Signup and view all the answers

Third-party services are not part of a Service Provider's Service Portfolio.

False Signup and view all the answers

Each phase of the Service Lifecycle does not require resources for its completion.

False Signup and view all the answers

Service Portfolio Management (SPM) is not considered an important governance aspect according to the text.

False Signup and view all the answers

Service Providers do not need to consider third-party services in their Service Portfolio.

False Signup and view all the answers

Service management must invest further in assets such as process, knowledge, people, and applications to handle the increase in value.

True Signup and view all the answers

Successful learning and growth enable commitments of lower service levels as service management gets conditioned to handle smaller challenges.

False Signup and view all the answers

Market space is defined by a set of business outcomes that can be facilitated by a service.

True Signup and view all the answers

Key business applications being monitored and secure can be the basis of one or more market spaces.

True Signup and view all the answers

Service providers do not need to consider third-party services in their Service Portfolio.

False Signup and view all the answers

Items can enter the Service Catalogue without undergoing a due diligence process related to costs and risks.

False Signup and view all the answers

The Service Portfolio represents the commitments and investments made by a Service Provider for a single market space only.

False Signup and view all the answers

Third-party services are not considered as part of a Service Provider's Service Portfolio.

False Signup and view all the answers

The Service Portfolio management process does not involve defining inventories and prioritizing services.

False Signup and view all the answers

Each phase of the Service Lifecycle requires resources for completion of tasks, initiatives, and contracts.

True Signup and view all the answers

Service Portfolio Management (SPM) is not considered an important governance aspect according to the text.

False Signup and view all the answers

Service Definitions in terms of utility do not include providing value to the customer when loans officers determine credit rating of applicants.

False Signup and view all the answers

Type I service providers operate strictly within the mandates of the business.

True Signup and view all the answers

Shared Service Providers (SSUs) are maintained at the corporate level for direct customer service.

False Signup and view all the answers

External Service Providers can drive down unit costs by consolidating demand.

True Signup and view all the answers

Type I service providers have a more evolved governing structure compared to Shared Service Providers.

False Signup and view all the answers

Shared Service Providers can model themselves along the lines of external service providers in the open market.

True Signup and view all the answers

The Service Portfolio is the only part of the Portfolio that recovers costs or earns profits.

False Signup and view all the answers

Outsourcing Strategies Quiz

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Questions and Answers

What is the main reason customers may pursue sourcing strategies requiring services from external providers?

Which type of Service Provider is typically the best choice for customers requiring services beyond their organization's capabilities?

What does a good business model describe in an organization?

Why is having a unique service strategy important for a Service Provider?

What type of assets are better to buy rather than own and operate according to the text?

In managing services for a customer, where does the power of combining capabilities lie?

What is the main purpose of the Service Portfolio for a Service Provider?

Which of the following is NOT an actionable component of service definitions in terms of utility according to the text?

What is an integral part of a Service Provider's Service Portfolio according to the text?

Which governance aspect is highlighted as very important in Service Portfolio Management (SPM)?

How do Service Providers identify their market spaces as per the text?

What does the Service Portfolio represent for a Service Provider according to the text?

What is the core component of a good service management practice according to the text?

In service strategy, why is providing services in close geographical proximity preferred?

Which aspect guides the design of a service according to the text?

How are service strategies executed in a given market space?

What do contracts in service strategy specify?

Why is Service Strategy considered a prime component in good service management practice?

The Service Pipeline consists of services that are fully operational and in use by customers.

Items can enter the Service Catalogue without undergoing a due diligence process related to costs and risks.

The Service Catalogue is a subset of the Service Portfolio that is visible to customers.

Approval for items to enter the Service Pipeline is granted by the Service Pipeline itself.

The Service Portfolio management process includes activities such as defining inventories and prioritizing services.

The general outlook of a Service Provider for the future is reflected in the Service Pipeline.

The Service Portfolio is the only part of the Portfolio that recovers costs or earns profits.

The Service Catalogue includes elements like supported products, ordering and request procedures, and risks.

The Service Portfolio and Service Catalogue both play a role in securing the financial viability of the Service Provider.

Service Improvement Plan is a standalone component separate from the Service Portfolio.

The Service Portfolio should ensure alignment and prioritization to balance supply and demand effectively.

Communicating decisions and allocating resources are tasks within the Service Charter.

Service Providers should define service by business outcomes to identify their market spaces.

The Service Portfolio includes only the commitments made to a single customer.

Third-party services are not part of a Service Provider's Service Portfolio.

Each phase of the Service Lifecycle does not require resources for its completion.

Service Portfolio Management (SPM) is not considered an important governance aspect according to the text.

Service Providers do not need to consider third-party services in their Service Portfolio.

Service management must invest further in assets such as process, knowledge, people, and applications to handle the increase in value.

Successful learning and growth enable commitments of lower service levels as service management gets conditioned to handle smaller challenges.

Market space is defined by a set of business outcomes that can be facilitated by a service.

Key business applications being monitored and secure can be the basis of one or more market spaces.

Service providers do not need to consider third-party services in their Service Portfolio.

Items can enter the Service Catalogue without undergoing a due diligence process related to costs and risks.

The Service Portfolio represents the commitments and investments made by a Service Provider for a single market space only.

Third-party services are not considered as part of a Service Provider's Service Portfolio.

The Service Portfolio management process does not involve defining inventories and prioritizing services.

Each phase of the Service Lifecycle requires resources for completion of tasks, initiatives, and contracts.

Service Portfolio Management (SPM) is not considered an important governance aspect according to the text.

Service Definitions in terms of utility do not include providing value to the customer when loans officers determine credit rating of applicants.

Type I service providers operate strictly within the mandates of the business.

Shared Service Providers (SSUs) are maintained at the corporate level for direct customer service.

External Service Providers can drive down unit costs by consolidating demand.

Type I service providers have a more evolved governing structure compared to Shared Service Providers.

Shared Service Providers can model themselves along the lines of external service providers in the open market.

The Service Portfolio is the only part of the Portfolio that recovers costs or earns profits.

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