Deck 3: Strategic Initiatives for Implementing Competitive Advantages

Question 1

What is a business process?

A) The analysis and redesign of workflow within and between enterprises.
B) A standardized set of activities that accomplish a specific task, such as processing a customer's order.
C) 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.
D) None of these.

Answer 1

B
Explanation: This is the definition of business process.

Question 2

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 stages in a supply chain to maximize total supply chain effectiveness and profitability.
D) None of these.

Answer 2

C
Explanation: This is the definition of SCM.

Question 3

What type of system did Kaiser Permanente implement in order to improve and prolong the lives of diabetics?

A) Supply chain management.
B) Customer relationship management.
C) Enterprise resource planning.
D) All of these.

Answer 3

B
Explanation: Kaiser Permanente implemented a CRM system to help diabetics.

Question 4

Which of the following is not a valid way that a CRM system can collect information?

A) Accounting system.
B) Order fulfillment system.
C) Inventory system.
D) Customer's personal computer.

Question 5

What is CRM?

A) A strategy.
B) A technology.
C) Both a technology and a strategy.
D) Neither a technology nor a strategy.

Question 6

What is the formula that an organization can use to find its most valuable customers?

A) RFM - reporting, features, monetary value.
B) RFM - reporting, frequency, market share.
C) RFM - recency, frequency, monetary value.
D) RFM - recency, features, market share.

Question 7

What is enterprise-wide resource planning?

A) The analysis and redesign of workflow within and between enterprises.
B) A standardized set of activities that accomplish a specific task, such as processing a customer's order.
C) 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.
D) Involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability.

Question 8

What is the term that identifies how frequently a customer purchases items?

A) Recency
B) Frequency
C) Monetary value
D) Reporting

Question 9

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

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

Question 10

What are the three phases in the evolution of CRM?

A) Recency, analyzing, predicting
B) Reporting, analyzing, predicting
C) Recency, analytical, processes
D) Reporting, analytical, predicting

Question 11

What is the purpose of business process reengineering?

A) To make all business processes the best-in-class.
B) To make all employees the best-in-class.
C) To make all business partners the best-in-class.
D) All of these.

Question 12

Which company used BPR to change its industry by implementing a mobile claims process?

A) Saab.
B) Progressive Insurance.
C) Trek.
D) Charles Schwab.

Question 13

What is the term that defines how recently a customer purchased items?

A) Recency
B) Frequency
C) Monetary value
D) Reporting

Question 14

Charles Schwab recouped the cost of a multimillion-dollar system in less than two years.What type of system was it?

A) Supply chain management.
B) Customer relationship management.
C) Enterprise resource planning.
D) All of these.

Question 15

What is the term that defines how much a customer spends on each purchase?

A) Recency
B) Frequency
C) Monetary value
D) Reporting

Question 16

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 17

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 18

Walmart and Procter & Gamble implemented a tremendously successful SCM system.The system linked Walmart's _____________ centers directly to Procter & Gamble's _____________ centers.

A) manufacturing; distribution
B) distribution; manufacturing
C) stores; distribution
D) distribution; retail

Question 19

What is the key word in ERP?

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

Question 20

What is business process reengineering?

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) 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.
D) None of these.

Question 21

Which of the following is not one of the questions asked during the reporting phase of CRM?

A) What is the total revenue by customer?
B) How many units did we manufacture?
C) Where did we sell the most products?
D) Who are our customers?

Question 22

Which of the following is not one of the questions asked during the analyzing phase of CRM?

A) What customers are at risk of leaving?
B) Why was customer revenue so high?
C) Why did sales not meet forecasts?
D) Who are our customers?

Question 23

Supply chain management involves the management of ___________ flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability.

Question 24

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

Question 25

What is another term that represents CRM reporting technologies that help organizations identify their customers across other applications?

A) Customer identification
B) Customer segmentation
C) Customer predicting
D) All of these

Question 26

What is a business-facing process?

A) A standardized set of activities that accomplish a specific task, such as processing a customer's order.
B) The result in a product or service that is received by an organization's external customer.
C) An invisible process to the external customer but essential to the effective management of the business which includes goal setting, day-to-day planning, performance feedback, rewards, and resource allocation.
D) The attempts to understand and measure the current process, and make performance improvements accordingly.

Question 27

Supply chain _________ is the schedule for production activities,including testing,packaging,and preparation for delivery.

Question 28

Which of the following is a business-facing process?

A) Marketing process
B) Sales process
C) Billing process
D) Budget forecasting

Question 29

Order processing is a customer-facing process.

Question 30

Charles Schwab has successfully used CRM to collect information through customers' transactions and analyze the information to determine the best way to market to each individual customer.

Question 31

Which of the following is not one of the questions asked during the predicting phase of CRM?

A) What is the total revenue by customer?
B) What products will the customer buy?
C) Who are the best candidates for a mailing?
D) What is the lifetime profitability of a customer?

Question 32

Progressive Insurance used CRM to revamp its insurance claims process.

Question 33

Strategic planning is a customer-facing process.

Question 34

Which of the following is not a criterion to determine the importance of a process for reengineering practitioners?

A) Is the process broken?
B) Is the process antiquated?
C) Does the process fall above best in class?
D) Is the process crucial for productivity improvement?

Question 35

What is a customer-facing process?

A) A standardized set of activities that accomplish a specific task, such as processing a customer's order.
B) The result in a product or service that is received by an organization's external customer.
C) An invisible process to the external customer but essential to the effective management of a business which includes goal setting, day-to-day planning, performance feedback, rewards, and resource allocation.
D) The attempts to understand and measure the current business process, and make performance improvements accordingly.

Question 36

Which of the following statements is incorrect?

A) CRM reporting technologies help organizations identify their customers across other applications.
B) CRM analysis technologies help organizations segment their customers into categories, such as best and worst customers.
C) CRM predicting technologies help organizations make predictions regarding customer behavior, such as which customers are at risk of leaving.
D) CRM predicting technologies help organizations identify their customers across other applications.

Question 37

What is another term that represents CRM analysis technologies that help organizations segment their customers into categories such as best and worst customers?

A) Customer identification
B) Customer segmentation
C) Customer predicting
D) All of these

Question 38

Which of the following is a customer-facing process?

A) Strategic planning
B) Order shipping
C) Training
D) Tactical planning

Question 39

Customer relationship management involves managing all aspects of a customer's relationship with an organization.

Question 40

A business process is the analysis and redesign of workflow within and between enterprises.

Question 41

Differentiate between customer-facing processes and business-facing processes.

Question 42

Customer-facing processes result in a product or service that is received by an organization's ___________ customer.

Question 43

________________-facing processes are invisible to the external customer but essential to the effective management of the business and include goal setting,day-to-day planning,performance feedback,rewards,and resource allocation.

Question 44

Enterprise resource planning systems ______________ all departments and functions throughout an organization into a single IT system.

Question 45

Order processing is a ________-facing process.

Question 46

Customer relationship management involves ______________ all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability.

Question 47

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

Question 48

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

Question 49

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

Question 50

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

Question 51

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

Question 52

Budget forecasting is a __________-facing process.

Question 53

Explain the goal of enterprise resource planning.