Question 1

Discuss the supply chain and operations strategic hierarchy.What is the role of capabilities and competencies in this process?

Accepted Answer

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Question 2

Resources that are rare help a firm to sustain competitive advantage.

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Question 3

The strategic back-and-forth dialogue between successive levels of managers and their teams is called ________.

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Question 4

The correct hierarchy for strategic planning is to develop company strategy first,followed by development of the mission and vision and then the operational subplans.

Accepted Answer

The correct hierarchy typically starts with the development of the mission and vision, which then informs the company strategy, followed by the operational subplans.

Question 5

The Japanese term for management control or policy deployment is ________.

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Question 6

The network of people,knowledge,information systems,tools,and business processes that create value for customers is ________.

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Question 7

Abilities that companies compete on that are difficult for competitors to replicate are known as ________.

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Question 8

Discuss Fisher's strategy model and how it can be used to achieve alignment between a firm's generic strategy and SC&O strategy.

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Question 9

The network of people that helps create value for a firm's customers is part of the firm's
A)capabilities.
B)competencies.
C)opportunities.
D)None of the above

Accepted Answer

The network of people that helps create value for a firm's customers is part of the firm's capabilities. Capabilities are the resources and abilities that a firm has that allow it to create value for its customers.

Question 10

Discuss Michael Porter's generic strategies and how they apply to the way firms compete in a market.

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Question 11

In the context of firm and SC&O strategy,attributes that differentiate a company's product from those of its competitors are called ________.

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Question 12

The Japanese term for "a compass," which indicates a vision or purpose to all existence is ________.

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Question 13

The planning tool commonly used by Japanese managers for policy deployment through a strategic planning process that utilizes project-based improvement is known as ________.

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Question 14

In the context of firm and SC&O strategy,necessary attributes that allow a firm to enter into and compete in a market are called ________.

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Question 15

Recognizing that their product is moving from being an innovative,disruptive product to a more mature product,the firm shifts their supply chain focus to efficiency.This capability of the firm is called ________.

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Question 16

Abilities that companies compete on that are difficult for competitors to replicate are known as capabilities.

Accepted Answer

Capabilities refer to the skills and abilities that a company possesses, while competitive advantages are the unique strengths that are difficult for competitors to replicate.

Question 17

Catchball is the strategic back-and-forth dialogue process to develop an error-free sales forecast.

Accepted Answer

Catchball is a collaborative process used in Hoshin Kanri (a strategic planning method) where goals and objectives are passed back and forth (like a ball) among all levels of an organization to ensure alignment and consensus, not specifically for developing sales forecasts.

Question 18

Which of the following are key requirements for a successful strategic plan?
A)Resources similar to your competitor
B)Dynamic capabilities
C)Fit with the current environment
D)All of the above
E)Only B and C above

Accepted Answer

Dynamic capabilities and a fit with the current environment are essential for a strategic plan to be successful. While having resources similar to a competitor might be beneficial, it is not a key requirement for a strategic plan's success.

Question 19

The capability to adjust a supply chain's design to meet major structural shifts in the market is called ________.

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Question 20

The absence of unique resources necessary to compete in its competitive landscape is one of the reasons for an unsuccessful strategic plan.

Accepted Answer

A strategic plan may fail if it does not account for the unique resources needed to compete effectively in its competitive landscape, as these resources are critical for gaining a competitive advantage and achieving strategic goals.

Quiz 2: Supply Chain and Operations Strategy