Management Notes

Reference Notes for Management

Which of the following phrases best describes product focus? 

Which of the following phrases best describes product focus?

Which of the following phrases best describes product focus?

 Options:

A. low volume, high variety
B. Finished goods are usually made to order.
C. Processes are designed to perform a wide variety of activities.
D. high fixed costs, low variable costs
E. high inventory

The Correct Answer Is:

D. high fixed costs, low variable costs

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Which of the following is not a factor affecting sustainability of a competitive advantage? 

Which of the following is not a factor affecting sustainability of a competitive advantage?

Which of the following is not a factor affecting sustainability of a competitive advantage?

 Options:

A. the availability of substitutes for a firm’s core competence
B. the rate at which obsolescence of the core competence occurs because of environmental changes
C. the imitability of a core competence
D. the length of time the core competence has existed

The Correct Answer Is:

D. the length of time the core competence has existed

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The most difficult part of benchmarking is 

The most difficult part of benchmarking is

The most difficult part of benchmarking is

 Options:

A. the decision of whether to do it at all.
B. how to gain access to information regarding rivals’ practices and costs.
C. when to initiate the process.
D. what information to utilize in the analysis process.
E. when to stop the process and move forward with strategy.

The Correct Answer Is:

B. how to gain access to information regarding rivals’ practices and costs.

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