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Quality Management and Answer A.

Satisfactory Essays

MGC1 Principals of Management Assessment

Correct Answers are in RED
I Scored 64% ( 33/51 )

1. A value chain is the sequence of activities that begins with raw materials.

What result does a value chain end with?

Choose 1 answer A.
Outsourcing or insourcing
B.
Supply and demand
C.
Delivery of products or services
D.
Operations and logistics

C

2. What happens when an effective value chain is created?

Choose 1 answer A.
Total quality management is not required.
B.
Profit margins are increased.
C.
Customized products are standardized.
D.
A mission statement is developed.

B

3. Industry and market analysis, competitor analysis, and social analysis are examples of which …show more content…

Choose 1 answer A.
Customer association organization
B.
Customer liaison administration
C.
Customer connection society
D.
Customer relationship management

D

19. Dr. Ohmae indicates that customer, corporation, and competitors should be integrated in a strategic triangle.

What does Dr. Ohmae indicate that an organization can obtain by doing this?

Choose 1 answer A.
Sustained competitive advantage
B.
Time-based competition
C.
Decentralization of the organization
D.
Coordination of mutual adjustment

A

20. What designates those who take hands-on responsibility for creating innovation such as new ideas, products, or methods within an organization?

Choose 1 answer A.
Controller
B.
Pacesetter
C.
Intrapreneur
D.
Franchiser

C

X
21. Why is innovation an important element of entrepreneurship?

Choose 1 answer A.
Allows the company to meet industry benchmarks
B.
Creates unique and different products or services
C.
Buffers the impact of changes in the legal environment
D.
Reduces marketing costs for the company

X A

X
22. Most successful entrepreneurs exhibit certain characteristics. Some entrepreneurs are open-minded, able to learn quickly, and skilled at conceptualizing.

Which entrepreneurial personality trait is this?

Choose 1 answer A.
Competitive intelligence
B.
Tolerance of risk, ambiguity, and uncertainty
C.

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