Question 1

Fill in the Blank(s)
-________theory in strategic management focuses on building organizational skills and processes that enable a company to deliver distinctive products and services.

Accepted Answer

The answer of Fill in the Blank(s)
-________theory in strategic management...

Question 2

Explain in sufficient depth the supply chain perspective for each of the following areas of strategy for your new manufacturing business: Environment, Resources, Objectives and Feedback. Choose one of the following businesses to support your response.
a. Poker tables, chairs, accessories.
b. Men's and women's athletic shoes
c. Backpack manufacturer

Accepted Answer

The answer of Explain in sufficient depth the supply chain...

Question 3

A business objective is a theoretical goal that unifies decision-making throughout a company.

Accepted Answer

A business objective is a specific, measurable target that a company aims to achieve, not just a theoretical goal.

Question 4

A supply chain is made up of a series of linked company-level value chains that provide only products (never services) to their customers.

Accepted Answer

A supply chain encompasses the flow of both products and services from raw materials to the end customer, involving various processes and companies.

Question 5

A possible step to minimize the impact of "The Bullwhip Effect" is to encourage retailers to communicate with distributors and manufacturers to develop a collaborative forecast.

Accepted Answer

Collaborative forecasting among retailers, distributors, and manufacturers can lead to more accurate demand predictions, reducing the amplification of demand variability up the supply chain, which is a key strategy in minimizing the bullwhip effect.

Question 6

Explain the differences, strengths and weaknesses of "competitive" versus "winning" business strategies.

Accepted Answer

The answer of Explain the differences, strengths and weaknesses of...

Question 7

A "first-tier supplier" refers to a supplier in the chain that provides products or services immediately preceding the focal business.

Accepted Answer

A first-tier supplier is directly connected to the focal business, providing it with products or services without any intermediaries in between.

Question 8

Explain in a clear, concise paragraph what is the "value chain" and examples of operational functions that would add value to the chain.

Accepted Answer

The answer of Explain in a clear, concise paragraph what...

Question 9

"Supply" chain and "Value" chain are unrelated and independent of each other

Accepted Answer

The supply chain and value chain are interconnected; the supply chain focuses on the logistical aspects of delivering products, while the value chain emphasizes the creation of value for customers through various activities. Both chains work together to enhance efficiency and customer satisfaction.

Question 10

Describe the similarities and the differences of the "internal value chain" and the "external value chain.

Accepted Answer

The answer of Describe the similarities and the differences of...

Question 11

When developing strategies and when the focus is on the decision area "Environments", consideration of the internal environments might include corporate culture, functional relationships and/or reward systems.

Accepted Answer

Considering the internal environments involves analyzing factors within the organization that can affect its strategy, including corporate culture, functional relationships, and reward systems, as these elements significantly influence how strategies are formulated and implemented.

Question 12

Describe in detail the supply chain phenomenon "the bullwhip effect" and at least three recommendations to minimize the effect.
c.

Accepted Answer

The answer of Describe in detail the supply chain phenomenon...

Question 13

Fill in the Blank(s)
-Business strategies that effectively use resources to satisfy customers better than rivals are based on the consideration of four decision areas. They are Environment, Resources, ________and Feedback.

Accepted Answer

The answer of Fill in the Blank(s)
-Business strategies that effectively...

Question 14

Fill in the Blank(s)
-Supply chain management is often described as managing the flow of________ and materials from the sub-tier suppliers to the final customers.

Accepted Answer

The answer of Fill in the Blank(s)
-Supply chain management is...

Question 15

Name three typical organizational members of a business's internal value chain. .

Accepted Answer

The answer of Name three typical organizational members of a...

Question 16

Strategic planning helps managers use resources effectively in a changing marketplace to create value for the company.

Accepted Answer

The answer of Strategic planning helps managers use resources effectively...

Question 17

Fill in the Blank(s)
-Supply chain management is the design and management of seamless, value-added processes across________ boundaries to meet the real needs of the end customer.

Accepted Answer

The answer of Fill in the Blank(s)
-Supply chain management is...

Question 18

Fill in the Blank(s)
-Modern strategic thinking emerged when________ theory conceptualized the relationship between a changing environment, managerial decision-making, and performance.

Accepted Answer

The answer of Fill in the Blank(s)
-Modern strategic thinking emerged...

Question 19

Fill in the Blank(s)
-Regarding strategic thinking,________ theory suggests that market forces should drive decision-making.

Accepted Answer

The answer of Fill in the Blank(s)
-Regarding strategic thinking,________ theory...

Question 20

Define at least 3 benefits a business will experience with an effective/efficient SC function.
$\bullet$Improved customer satisfaction
$\bullet$Lower operating costs
$\bullet$Speed/flexibility of the chain

Accepted Answer

The answer of Define at least 3 benefits a business...

Quiz 1: Supply Chain Management and Competitive Strategy

Fill in the Blank(s) -________theory in strategic management focuses on building organizational skills and processes that enable a company to deliver distinctive products and services.

A business objective is a theoretical goal that unifies decision-making throughout a company.

A supply chain is made up of a series of linked company-level value chains that provide only products (never services) to their customers.

A possible step to minimize the impact of "The Bullwhip Effect" is to encourage retailers to communicate with distributors and manufacturers to develop a collaborative forecast.

Explain the differences, strengths and weaknesses of "competitive" versus "winning" business strategies.

A "first-tier supplier" refers to a supplier in the chain that provides products or services immediately preceding the focal business.

Explain in a clear, concise paragraph what is the "value chain" and examples of operational functions that would add value to the chain.

"Supply" chain and "Value" chain are unrelated and independent of each other

Describe the similarities and the differences of the "internal value chain" and the "external value chain.

When developing strategies and when the focus is on the decision area "Environments", consideration of the internal environments might include corporate culture, functional relationships and/or reward systems.

Describe in detail the supply chain phenomenon "the bullwhip effect" and at least three recommendations to minimize the effect. c.

Fill in the Blank(s) -Business strategies that effectively use resources to satisfy customers better than rivals are based on the consideration of four decision areas. They are Environment, Resources, ________and Feedback.

Fill in the Blank(s) -Supply chain management is often described as managing the flow of________ and materials from the sub-tier suppliers to the final customers.

Name three typical organizational members of a business's internal value chain. .

Strategic planning helps managers use resources effectively in a changing marketplace to create value for the company.

Fill in the Blank(s) -Supply chain management is the design and management of seamless, value-added processes across________ boundaries to meet the real needs of the end customer.

Fill in the Blank(s) -Modern strategic thinking emerged when________ theory conceptualized the relationship between a changing environment, managerial decision-making, and performance.

Fill in the Blank(s) -Regarding strategic thinking,________ theory suggests that market forces should drive decision-making.

Define at least 3 benefits a business will experience with an effective/efficient SC function. $\bullet$ Improved customer satisfaction $\bullet$ Lower operating costs $\bullet$ Speed/flexibility of the chain

Quiz 1: Supply Chain Management and Competitive Strategy

Fill in the Blank(s) -________theory in strategic management focuses on building organizational skills and processes that enable a company to deliver distinctive products and services.

A business objective is a theoretical goal that unifies decision-making throughout a company.

A supply chain is made up of a series of linked company-level value chains that provide only products (never services) to their customers.

A possible step to minimize the impact of "The Bullwhip Effect" is to encourage retailers to communicate with distributors and manufacturers to develop a collaborative forecast.

Explain the differences, strengths and weaknesses of "competitive" versus "winning" business strategies.

A "first-tier supplier" refers to a supplier in the chain that provides products or services immediately preceding the focal business.

Explain in a clear, concise paragraph what is the "value chain" and examples of operational functions that would add value to the chain.

"Supply" chain and "Value" chain are unrelated and independent of each other

Describe the similarities and the differences of the "internal value chain" and the "external value chain.

When developing strategies and when the focus is on the decision area "Environments", consideration of the internal environments might include corporate culture, functional relationships and/or reward systems.

Describe in detail the supply chain phenomenon "the bullwhip effect" and at least three recommendations to minimize the effect. c.

Fill in the Blank(s) -Business strategies that effectively use resources to satisfy customers better than rivals are based on the consideration of four decision areas. They are Environment, Resources, ________and Feedback.

Fill in the Blank(s) -Supply chain management is often described as managing the flow of________ and materials from the sub-tier suppliers to the final customers.

Name three typical organizational members of a business's internal value chain. .

Strategic planning helps managers use resources effectively in a changing marketplace to create value for the company.

Fill in the Blank(s) -Supply chain management is the design and management of seamless, value-added processes across________ boundaries to meet the real needs of the end customer.

Fill in the Blank(s) -Modern strategic thinking emerged when________ theory conceptualized the relationship between a changing environment, managerial decision-making, and performance.

Fill in the Blank(s) -Regarding strategic thinking,________ theory suggests that market forces should drive decision-making.

Define at least 3 benefits a business will experience with an effective/efficient SC function. ∙\bullet∙ Improved customer satisfaction ∙\bullet∙ Lower operating costs ∙\bullet∙ Speed/flexibility of the chain

Define at least 3 benefits a business will experience with an effective/efficient SC function. $\bullet$ Improved customer satisfaction $\bullet$ Lower operating costs $\bullet$ Speed/flexibility of the chain