Deck 3: Strategic Initiatives for Implementing Competitive Advantages

Question 1

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

Answer 1

True

Question 2

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

Answer 2

True

Question 3

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

Answer 3

False

Question 4

RFM stands for Regency, Frequency, and Monetary.

Question 5

Product delivery is a customer-facing business process.

Question 6

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

Question 7

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

Question 8

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

Question 9

Strategic planning is a customer-facing business process.

Question 10

Information technology's primary role in supply chain management is creating the integrations or tight process and information linkages between functions within a firm-such as marketing, sales, finance, manufacturing, and distribution-and between firms.

Question 11

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

Question 12

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

Question 13

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

Question 14

Back-office operations deal directly with the customer.

Question 15

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 enterprisewide information about all business operations.

Question 16

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

Question 17

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

Question 18

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 19

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

Question 20

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

Question 21

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

A)Hiring employees.
B)Enrolling employees in benefit plans.
C)Tracking vacation and sick time.
D)All of these.

Question 22

Which of the following represents an example of a technology that actually disrupts and slows workflow?

A)Email
B)Twitter
C)Facebook
D)All of these

Question 23

Which of the following represents a business-facing process?

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

Question 24

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 25

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 26

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 27

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 28

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 these

Question 29

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 30

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

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

Question 31

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 32

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

A)Customer-facing processes.
B)Business-facing processes.
C)Industry-specific customer-facing processes.
D)All of these.

Question 33

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 enterprisewide 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 34

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

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

Question 35

What includes the tasks, activities, and responsibilities required to execute each step in a business process?

A)Workflow
B)Relationships
C)Automation
D)Supply chain

Question 36

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 enterprisewide 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 37

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 these

Question 38

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 39

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)Order-to-delivery process
B)Loan processing
C)Taking a product from concept to market
D)Processing payroll

Question 40

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 these.

Question 41

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 42

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 43

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 44

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 45

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 46

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 47

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 48

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 49

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

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

Question 50

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 51

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

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

Question 52

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 53

Which of the following is not one of the three main links in the supply chain?

A)Flow of materials from suppliers and their "downstream" suppliers at all levels.
B)Transformation of materials into semi finished and finished products-the organization's own production processes.
C)Distribution of products to customers and their "downstream" customers at all levels.
D)None of these.

Question 54

Today, SCM systems focus on extending beyond an organization's four walls to influence:

A)Suppliers.
B)Suppliers' supplier.
C)Customers' customer.
D)All of these.

Question 55

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 56

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 57

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 58

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 59

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 60

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 61

Summarize why CRM is more than just technology and must be embraced on an enterprisewide level, along with the types of things an organization can determine when using a CRM system.

Question 62

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 enterprisewide information on all business operations.

Question 63

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

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

Question 64

Which of the following will help an organization maintain consistent business operations?

A)Marketing, sales, and accounting departments decide to use the same vendor for a new system.
B)Sales decides to implement a new system without considering other departments.
C)A new office policy states that all managers can implement their own policies for purchasing supplies and materials.
D)Marketing decides to save customer's email addresses in the marketing system, even though other organizational systems do not have this capability.

Question 65

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

Question 66

What is the key word in ERP?

A)Enterprise
B)Resource
C)Planning
D)All of these

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

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 69

Explain the goal of enterprise resource planning.

Question 70

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 enterprisewide 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 71

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 enterprisewide information on all business operations.

Question 72

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 enterprisewide information on all business operations.

Question 73

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 enterprisewide information on all business operations.

Question 74

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 75

Which of the following describes an ERP system?

A)ERP systems provide a foundation for collaboration between departments.
B)ERP systems enable people in different business areas to communicate.
C)ERP systems have been widely adopted in large organizations to store critical knowledge used to make the decisions that drive the organization's performance.
D)All of these.

Question 76

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 77

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 78

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

Question 79

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