Competitiveness and Vision in Business

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12 Questions

What is the formula for labor productivity?

Units of output per labor hour

Which sector is mentioned as difficult to measure and manage in terms of productivity?

Service Sector

What does capital productivity measure?

Dollar value of output per dollar input

Which factor is used for planning workforce requirements according to the text?

Quality

What is a measure used for scheduling equipment?

Units of output per shift

Which example is given as part of the Service Sector activities?

Medical diagnoses

What does competitiveness refer to in an organization?

How effectively an organization meets customer needs compared to others offering similar products/services

What is a crucial area of competitiveness related to operations management?

Supply chain management

What is the primary purpose of a mission statement?

Answering 'What business are we in?'

Which of the following is NOT considered a competitive priority in operations strategy?

Innovation

How can the internet impact an organization's competitive advantages?

Enhance existing competitive advantages

'Quick response' is an important aspect of competitiveness. What does it relate to?

Speed in responding to customer queries or issues

This quiz covers topics related to competitiveness in the marketplace, including product and service design, cost, quality, and supply chain management. It also explores the concept of vision in the context of decision-making and planning.

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