Management Notes

Reference Notes for Management

Customer loyalty programs such as airline frequent-flyer miles are an attempt to

Customer loyalty programs such as airline frequent-flyer miles are an attempt to

Customer loyalty programs such as airline frequent-flyer miles are an attempt to

 Options:

A. decrease competitors’ access to distribution channels.
B. develop a cost advantage independent of scale.
C. increase customers’ switching costs.
D. overcome the perishability of the hotel “product.”

The Correct Answer Is:

C. increase customers’ switching costs.

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The gross material requirements plan combines

The gross material requirements plan combines

The gross material requirements plan combines

 Options:

A. It shows total demand for an item.
B. It shows when an item must be ordered from a supplier or when production must be started.
C. It combines a master production schedule with the time-phased schedule.
D. It requires several inputs, including an accurate bill of material.
E. All of the above.

The Correct Answer Is:

E. All of the above.

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A company weakness or competitive deficiency

A company weakness or competitive deficiency

A company weakness or competitive deficiency

 Options:

A. represents a problem that needs to be turned into a strength because weaknesses prevent a firm from being a winner in the marketplace.
B. causes the company to fall into a lower strategic group than it otherwise could compete in.
C. prevents a company from having a distinctive competence.
D. usually stems from having a missing link or links in the industry value chain.
E. are shortcomings that constitute competitive liabilities.

The Correct Answer Is:

E. are shortcomings that constitute competitive liabilities.

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