Question 1

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

Accepted Answer

In the past, departments operated in silos and made decisions independently of each other, without much collaboration or communication between them.

Question 2

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

Accepted Answer

The evolution of CRM (Customer Relationship Management) systems indeed involves the progression from basic reporting (understanding what has happened), to analyzing (understanding why it happened), and finally to predicting (forecasting future customer behavior or trends).

Question 3

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

Accepted Answer

SCM (Supply Chain Management) systems are designed to create integrations and establish tight process and information linkages among all participants in the supply chain, including suppliers, manufacturers, distributors, and customers, to enhance efficiency and responsiveness.

Question 4

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

Accepted Answer

Business process reengineering involves analyzing and redesigning workflow within and between enterprises to improve efficiency and effectiveness.

Question 5

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

Accepted Answer

CRM predicting technologies use data analysis and machine learning algorithms to predict customer behavior, including identifying 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.

Accepted Answer

Business-facing processes, also known as back-office processes, are internal operations that support the business's functionality and efficiency but are not directly experienced by the customer. These processes include activities related to administration, management, and support functions that are crucial for the business to operate smoothly but do not involve direct interaction with the external customer.

Question 7

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

Accepted Answer

While the Internet provides many convenient communication tools, it cannot fully replicate the personal touch and immediacy of phone calls and face-to-face interactions, which are crucial for building strong customer relationships and handling complex or sensitive issues.

Question 8

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

Accepted Answer

These are indeed the five basic components of supply chain management.

Question 9

Order shipping is a customer-facing business process.

Accepted Answer

Order shipping is a customer-facing business process because it involves directly fulfilling customer orders and delivering products to them, impacting customer satisfaction and experience.

Question 10

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

Accepted Answer

Effective supply chain management can reduce dependency on specific buyers by improving product availability and reducing costs, thus decreasing buyer power.

Question 11

Strategic planning is a customer-facing business process.

Accepted Answer

Strategic planning is an internal organizational process used to set priorities, focus energy and resources, strengthen operations, and ensure that employees and other stakeholders are working toward common goals. It is not directly customer-facing.

Question 12

Back-office operations deal directly with the customer.

Accepted Answer

Back-office operations refer to the internal, administrative tasks within a company that do not involve direct interaction with the customer. These tasks can include data management, processing, accounting, and IT services.

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.

Accepted Answer

ERP systems are designed to integrate multiple facets of a company’s operations, providing a centralized database and application system that ensures all departments can access and share information efficiently, thus improving decision-making and operational efficiency across the organization.

Question 14

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

Accepted Answer

CRM analysis technologies do indeed help organizations segment their customers into categories such as best and worst customers. This allows them to tailor their marketing, communication, and customer service efforts to each segment, thereby improving customer satisfaction and loyalty.

Question 15

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

Accepted Answer

In the basic supply chain, source refers to the procurement of raw materials or products from suppliers, not planning for transportation to customers. Planning for transportation to customers is part of the delivery stage in the supply chain.

Question 16

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

Accepted Answer

In the basic supply chain, return is an important component that involves supporting customers with after-sales service and handling product returns.

Question 17

RFM stands for Regency, Frequency, and Monetary.

Accepted Answer

RFM stands for Recency, Frequency, and Monetary value, which are key factors used in marketing analysis for customer segmentation.

Question 18

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

Accepted Answer

In the basic supply chain, "return" actually refers to the process of handling returned or defective products, including managing reverse logistics to move items back from customers to vendors or manufacturers for repair, refurbishment, or recycling.

Question 19

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

Accepted Answer

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.

Accepted Answer

In the basic supply chain, "make" indeed refers to the process of manufacturing products and involves creating production schedules to ensure that production meets demand efficiently.

Quiz 3: Strategic Initiatives for Implementing Competitive Advantages

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

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

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

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

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

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

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

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

Order shipping is a customer-facing business process.

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

Strategic planning is a customer-facing business process.

Back-office operations deal directly with the customer.

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.

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

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

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

RFM stands for Regency, Frequency, and Monetary.

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

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

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