Deck 3: Strategic Initiatives for Implementing Competitive Advantages

Question 1

In the past, departments made decisions independent of each other.

Answer 1

True

Question 2

The evolution of CRM is reporting, analyzing, and predicting.

Answer 2

True

Question 3

SCM systems create the integrations or tight process and information linkages between all participants in the supply chain.

Answer 3

True

Question 4

Business process reengineering is the analysis and redesign of workflow within and between enterprises.

Question 5

CRM predicting technologies help organizations predict customer behavior, such as which customers are at risk of leaving.

Question 6

Business-facing processes or back-office processes are invisible to the external customer but essential to the effective management and operation of the business.

Question 7

The Internet can completely replace the phone and face-to-face communications with customers.

Question 8

Plan, source, make, deliver, and return are the five basic supply chain management components.

Question 9

Order shipping is a customer-facing business process.

Question 10

Effective and efficient supply chain management systems can enable an organization to decrease the power of its buyers.

Question 11

Strategic planning is a customer-facing business process.

Question 12

Back-office operations deal directly with the customer.

Question 13

Enterprise resource planning (ERP) integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so employees can make decisions by viewing enterprise-wide information about all business operations.

Question 14

CRM analysis technologies help organizations segment their customers into categories such as best and worst customers.

Question 15

In the basic supply chain, source refers to planning for transportation of goods to customers.

Question 16

In the basic supply chain, return refers to supporting customers and product returns.

Question 17

RFM stands for Regency, Frequency, and Monetary.

Question 18

In the basic supply chain, return refers to preparing to manage all resources required to meet demands.

Question 19

In the basic supply chain, source refers to building relationships with suppliers to procure raw materials.

Question 20

In the basic supply chain, make refers to manufacturing products and creating production schedules.

Question 21

What is enterprise resource planning (ERP)?

A) The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
B) Integration of all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so employees can make decisions by viewing enterprise-wide information about all business operations
C) A means of managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
D) Connection of the plans, methods, and tools aimed at integrating separate enterprise system

Question 22

What form of processes include loan processing for a bank, claims processing for an insurance company, reservation processing for a hotel, and baggage handling for an airline?

A) Customer-facing processes
B) Business-facing processes
C) Industry-specific customer-facing processes
D) All of the choices are correct

Question 23

Which of the below business processes would you find in the marketing and sales division?

A) Ordering inventory
B) Enrolling employees in health care benefits
C) Promoting of discounts
D) Creating financial statements

Question 24

Which of the following departments is primarily responsible for promoting discounts, attracting customers, processing sales, and communicating marketing campaigns?

A) Accounting and Finance
B) Marketing and Sales
C) Operations Management
D) Human Resources

Question 25

In which of the five basic supply chain activities do you prepare to manage all resources required to meet demand?

A) Plan
B) Source
C) Deliver
D) Return

Question 26

What is the analysis and redesign of workflow within and between enterprises?

A) Supply chain management
B) Customer relationship management
C) Business process reengineering
D) Enterprise resource planning

Question 27

In which of the five basic supply chain activities do you build relationships with suppliers to procure raw materials?

A) Plan
B) Source
C) Deliver
D) Return

Question 28

Which of the following is a customer-facing process?

A) Communicating with customers
B) Strategic goal setting
C) Providing performance feedback and rewards
D) Purchasing raw materials

Question 29

Which of the following represents a business-facing process?

A) Loan processing
B) Order processing
C) Strategic planning
D) Customer billing

Question 30

The accounting and finance department performs processes such as creating financial statements, paying accounts payables, and collecting accounts receivables. What form of processes do these represent?

A) Customer-facing processes
B) Business-facing processes
C) Industry-specific customer-facing processes
D) All of the choices are correct

Question 31

Which of the below represents business processes you would find in the human resources department?

A) Hiring employees
B) Enrolling employees in health care
C) Tracking vacation and sick time
D) All of the choices are correct

Question 32

What is customer relationship management (CRM)?

A) The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
B) Integration of all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so employees can make decisions by viewing enterprise-wide information about all business operations
C) A means of managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
D) Connection of the plans, methods, and tools aimed at integrating separate enterprise system

Question 33

What is the difference between customer-facing processes and business-facing processes?

A) Business-facing processes are front-office processes; customer-facing processes are back-office processes.
B) Customer-facing processes are front-office processes; business-facing processes are back-office processes.
C) Customer-facing processes are back-office processes; industry-specific customer-facing processes are back-office processes.
D) Customer-facing processes are back-office processes; industry-specific customer-facing processes are front-office processes.

Question 34

Most business processes are cross-functional or cross-departmental processes that span the entire organization. Which of the below does not represent a cross-functional business process?

A) Acquiring customers
B) Loan processing
C) Taking a product from concept to market
D) Processing payroll

Question 35

What type of process includes order processing, customer service, sales processing, customer billing, and order shipping?

A) Customer-facing process
B) Business-facing process
C) Industry-specific customer-facing process
D) All of the choices are correct

Question 36

Which of the following processes focuses on the entire customer order process and operates across functional departments?

A) Order to delivery process
B) Customer billing process
C) Customer loan process
D) All of the choices are correct

Question 37

Which of the following represents a business process you would find in the operations management department?

A) Ordering inventory
B) Processing sales
C) Promoting discounts
D) Paying of accounts payable

Question 38

Which of the following explains why a company would implement a BPR strategy?

A) To encourage competition
B) To decrease customers
C) To deliver added value for the customer
D) To create data

Question 39

What is supply chain management (SCM)?

A) The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
B) Takes information entered into a given system and sends it automatically to all downstream systems and processes
C) A means of managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
D) Connects the plans, methods, and tools aimed at integrating separate enterprise system

Question 40

Which of the following processes would be found in the operations management department?

A) Creating production schedules
B) Communicating marketing campaigns
C) Hiring employees
D) Processing sales

Question 41

What is an organization performing when it asks questions such as "why was revenue so high"?

A) CRM reporting technologies
B) CRM analyzing technologies
C) CRM processing technologies
D) CRM predicting technologies

Question 42

Which of the following is an organizational result from an effective and efficient supply chain management system?

A) Decrease the power of its buyers
B) Create entry barriers thereby reducing the threat of new entrants
C) Increase efficiencies while seeking a competitive advantage through cost leadership
D) All of these

Question 43

What helps an organization identify its customers across applications?

A) CRM reporting technologies
B) CRM analyzing technologies
C) CRM processing technologies
D) CRM predicting technologies

Question 44

In which of the five basic supply chain activities do you plan for the transportation of goods to customers?

A) Plan
B) Source
C) Deliver
D) Return

Question 45

In which of the five basic supply chain activities do you manufacture products and create production schedules?

A) Plan
B) Source
C) Deliver
D) Make

Question 46

Which question below represents a CRM analyzing technology question?

A) Why did sales not meet forecasts?
B) What customers are at risk of leaving?
C) What is the total revenue by customer?
D) All of these

Question 47

As the business world increasingly shifts from product focus to customer focus, why are most organizations treating existing customers better than in the past?

A) Existing customers are the best source of profitable and sustainable revenue growth.
B) In the age of ebusiness, an organization is guaranteed a favorable customer base and satisfying them is easier than ever.
C) Organizations cannot depend on using statistical analysis or value formulas such as recency, frequency, and monetary to gain insight into customer behavior or buying patterns.
D) Placing customers at the forefront of all thinking and decision making requires very little operational and technology changes.

Question 48

Which question below represents a CRM predicting technology question?

A) Why did sales not meet forecasts?
B) What customers are at risk of leaving?
C) What is the total revenue by customer?
D) All of these.

Question 49

What is an organization performing when it asks questions such as "which customers are at risk of leaving"?

A) CRM reporting technologies
B) CRM analyzing technologies
C) CRM processing technologies
D) CRM predicting technologies

Question 50

What is the analysis and redesign of workflow within and between enterprises?

A) Business process reengineering
B) Supply chain management
C) Customer relationship management
D) Enterprise resource planning

Question 51

Why is CRM one of the most valuable assets a company can acquire?

A) Since organizations have not been successful in implementing SCM systems, they have turned their resources towards CRM.
B) CRM has proven to increase customer loyalty and retention and an organization's profitability.
C) It is easy for a company to steal their competitors' loyal and devoted customers, therefore companies need a viable process for targeting competitor's customers.
D) Without CRM it is impossible to effectively manage or cross-sell products to customers.

Question 52

Walmart and Procter & Gamble (P&G) implemented a tremendously successful SCM system. The system linked Walmart's ________ centers directly to P&G's ________ centers.

A) Manufacturing, distribution
B) Distribution, manufacturing
C) Stores, distribution
D) Distribution, stores

Question 53

What does supply chain management involve?

A) The management of production material flows between and among stages in a supply chain to maximize total supply chain efficiency
B) The management of information flows between and among stages in a supply chain to maximize total supply chain costs
C) The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
D) None of these

Question 54

Which of the following can a customer use to contact an organization?

A) Telephone
B) Email
C) Web access
D) All of these

Question 55

Which of the following is not one of the five basic components of supply chain management?

A) Plan
B) Source
C) Cost
D) Deliver

Question 56

There are three phases in the evolution of CRM: (1) reporting, (2) analyzing, and (3) predicting. What do CRM predicting technologies help organizations accomplish?

A) Make predictions regarding customer behavior such as which customers are at risk of leaving
B) Segment their customers into categories such as best and worst customers
C) Identify their customers across other applications
D) All of these

Question 57

Which question below represents a CRM reporting technology example?

A) Why did sales not meet forecasts?
B) What customers are at risk of leaving?
C) What is the total revenue by customer?
D) All of these

Question 58

What is enterprise resource planning?

A) The analysis and redesign of workflow within and between enterprises
B) A standardized set of activities that accomplish as specific task, such as processing a customer's order
C) Integration of all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations
D) The increase of customer loyalty and retention and an organization's profitability by managing all aspects of a customer's relationship with an organization

Question 59

What can effective and efficient supply chain management systems enable an organization to accomplish?

A) Increase the power of its buyers
B) Increase its supplier power
C) Increase switching costs to increase the threat of substitute products or services
D) All of these

Question 60

Which of the following is not one of the three phases in the evolution of CRM?

A) Reporting
B) Analyzing
C) Processing
D) Predicting

Question 61

What integrates all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations?

A) Business process reengineering
B) Supply chain management
C) Customer relationship management
D) Enterprise resource planning

Question 62

What is the management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability?

A) Business process reengineering
B) Supply chain management
C) Customer relationship management
D) Enterprise resource planning

Question 63

What does enterprise resource planning involve?

A) Analyzing and redesigning of workflow within and between enterprises
B) Managing information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
C) Managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
D) Integrating all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations

Question 64

Describe SCM, CRM, and ERP and the differences among them.

Question 65

What does business process reengineering involve?

A) Analyzing and redesigning workflow within and between enterprises
B) Managing information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
C) Managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
D) Integrating all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations

Question 66

Identify how an organization can use business process reengineering to improve its business.

Question 67

In terms of Porter's Five Forces Model, explain the benefits an organization can receive from implementing an efficient and effective SCM system.

Question 68

Summarize why CRM must be embraced on an enterprise-wide level, along with the types of things an organization can determine when using a CRM system.

Question 69

What involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability?

A) Business process reengineering
B) Supply chain management
C) Customer relationship management
D) Enterprise resource planning

Question 70

What does supply chain management involve?

A) Analyzing and redesigning workflow within and between enterprises
B) Managing information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
C) Managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
D) Integrating all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations

Question 71

What does customer relationship management involve?

A) Analyzing and redesigning workflow within and between enterprises
B) Managing information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
C) Managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
D) Integrating all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations