Question 1

A strategy is a series of decisions taken over the ___________ term?&#10;A) Short&#10;B) Medium&#10;C) Long&#10;D) Immediate

Accepted Answer

A strategy typically involves decisions made for the long term, outlining a plan of action to achieve a particular goal or set of objectives over an extended period.

Question 2

An operations strategy is usually developed from the _______________ of an organization&#10;A) Mission statement&#10;B) Corporate strategy&#10;C) Financial strategy&#10;D) Business strategy

Accepted Answer

D

Question 3

Which of these is not usually included in an operations strategy?&#10;A) Capacity planning&#10;B) Human resources planning&#10;C) Marketing planning&#10;D) Procurement planning

Accepted Answer

Marketing planning is not typically included in an operations strategy, as operations strategy focuses on the production and delivery aspects of a business, while marketing planning is concerned with market analysis, product promotion, and sales strategies.

Question 4

There are two perspectives of operations strategy suggested by Lowson (2003). One is the market driven perspective proposed by Michael Porter. What is the other?&#10;A) Bottom up perspective&#10;B) Top down perspective&#10;C) Resource based perspective&#10;D) Finance driven perspective

Accepted Answer

The other perspective of operations strategy suggested by Lowson (2003) is the Resource based perspective, which focuses on leveraging a company's internal resources and capabilities to gain a competitive advantage.

Question 5

The four main elements of the business model put forward by Christensen et al. (2016) are Value Proposition, Resources, Processes and ____________?&#10;A) Systems capability&#10;B) Market offering&#10;C) Profit Formula&#10;D) Technology

Accepted Answer

The correct answer is "Profit Formula." According to Christensen et al. (2016), the four main elements of the business model are Value Proposition, Resources, Processes, and Profit Formula.

Question 6

Movement of one part of an organization from the home country to another host country is called ___________________________?&#10;A) Globalization&#10;B) Internationalization&#10;C) Transnationalization&#10;D) Multinationalization

Accepted Answer

Internationalization refers to the process of increasing involvement of enterprises in international markets, including the movement of a part of an organization to another country.

Question 7

An organization that has a number of different subsidiary companies across the world is called _______________?&#10;A) Transnational&#10;B) Global&#10;C) International&#10;D) Multinational

Accepted Answer

An organization with various subsidiary companies around the world is referred to as a Multinational Corporation (MNC). These entities operate in several countries, making them distinct from companies that only export or have foreign sales.

Question 8

Organizations which tend to make most of the executive decisions for their subsidiaries in their home country are called_______________?&#10;A) Geocentric&#10;B) Polycentric&#10;C) Ethnocentric&#10;D) Multinational

Accepted Answer

Ethnocentric organizations centralize their decision-making processes in the home country, often applying their domestic strategies and practices to their operations abroad.

Question 9

Organizations which tend to allow the host country to manage activities such as marketing and customer service are called _________________?&#10;A) Geocentric&#10;B) Polycentric&#10;C) Ethnocentric&#10;D) International

Accepted Answer

Polycentric organizations allow the host country to manage activities, as they adopt the belief that the host country knows the best way to handle operations within their own country.

Question 10

Expanding internationally through allowing others to manage and run operations using your brand is known as ________________?&#10;A) Outsourcing&#10;B) Franchising&#10;C) Offshoring&#10;D) Globalizing

Accepted Answer

Franchising is the practice of using another firm's successful business model, allowing for expansion by letting others manage and run operations under the original brand.

Deck 12: Operations Strategy and International Oper