Question 1

The first step in a stage-gate development funnel is to

Accepted Answer

At stage 1 the development funnel has a wide mouth, so top managers initially can encourage employees to come up with as many new product ideas as possible.

Question 2

________ are the goods and products manufactured using fundamental shifts in technology as a result of pioneering discoveries.

Accepted Answer

Quantum product innovation results in the development of new, often radically different, kinds of goods and services because of fundamental shifts in technology brought about by pioneering discoveries.

Question 3

_____ is the fundamental rethinking and radical redesign of business procedures to achieve dramatic improvements in critical measures of performance such as cost, quality, service, and speed.

Accepted Answer

Process reengineering involves the fundamental rethinking and radical redesign of business processes (and thus the value chain) to achieve dramatic improvements in critical measures of performance such as cost, quality, service, and speed.

Question 4

_______ is a technique that forces managers to choose among competing projects so functional resources are not spread thinly over too many projects.

Accepted Answer

A stage-gate development funnel is a technique that forces managers to choose among competing projects so functional resources are not spread thinly over too many projects.

Question 5

Which of the following is true about the impact of information systems and the Internet on companies in general?

Accepted Answer

All large companies today use the Internet to manage the value chain, feeding real-time information about order flow to suppliers, which use this information to schedule their own production to provide components on a just-in-time basis.

Question 6

A newsletter publisher in a small town accepts subscription requests and handles queries through the town's mail services and through online subscriptions.The publishing unit provides after-sale service and support to its online subscribers.This publisher is using

Accepted Answer

Customer relationship management (CRM) is a technique that uses IT and technology to develop an ongoing relationship with customers to maximize the value an organization deliver to them over time.CRM systems have three interconnected components: sales and selling, after-sales service and support, and marketing.

Question 7

A _________ is a written agreement that details factors such as responsibilities, resource commitments, budgets, time lines, and development milestones.

Accepted Answer

A contract book is a written agreement that details factors such as responsibilities, resource commitments, budgets, time lines, and development milestones.

Question 8

__________ members of a team bear the primary responsibility for the success of a project and stay with a project from inception to completion.

Accepted Answer

Core members are the members of a team who bear primary responsibility for the success of a project and who stay with a project from inception to completion.

Question 9

When there are _____ inputs required to produce a given output, the efficiency is _____ and the cost of outputs is _____.

Accepted Answer

The fewer the inputs required to produce a given output, the higher is efficiency and the lower the cost of outputs.

Question 10

______ is the gradual improvement and refinement of existing products over time as existing technologies are perfected.

Accepted Answer

Incremental product innovation results in gradual improvements and refinements of existing products over time as existing technologies are perfected.

Question 11

Illumin, a light bulb manufacturing company, strives to improve the longevity and brightness of its bulbs by continuously changing designs and trying different combinations of materials and component parts while manufacturing them.This is an example of

Accepted Answer

Incremental product innovation results in gradual improvements and refinements of existing products over time as existing technologies are perfected.

Question 12

_______ is the management of the value chain activities that bring new products or services to market.

Accepted Answer

Product development is the management of the value chain activities involved in bringing new or improved goods and services to the market.

Question 13

The _____ function controls the movement of physical materials from the procurement of inputs through production and to distribution and delivery to the customer.

Accepted Answer

The materials management function controls the movement of physical materials from the procurement of inputs through production and to distribution and delivery to the customer.

Question 14

The Donut House, a large donut bakery with outlets across several cities, improves the quality of the dough it uses and introduces a wide range of toppings and glazes to go with its donuts.This is an example of

Accepted Answer

Incremental product innovation results in gradual improvements and refinements of existing products over time as existing technologies are perfected.

Question 15

Which of the following is true about quantum product innovations?

Accepted Answer

Quantum product innovations are relatively rare; most managers' activities focus on incremental product innovations that result from ongoing technological advances.Incremental innovation is frequently as important as-or even more important than-quantum innovation in raising a company's performance.

Question 16

Total quality management (TQM) is a technique that focuses on

Accepted Answer

Total quality management is a technique that focuses on improving the quality of an organization's products and services.

Question 17

Sawyer Outfits manufactures baby clothes.The company has worked hard to develop function strategies to deliver customers desired product attributes.The company is likely to see costs grow out of control if it

Accepted Answer

Although managers must seek to improve their responsiveness to customers by improving how the value chain operates, they should not offer a level of responsiveness to customers that results in costs becoming too high-something that threatens an organization's future performance and survival.For example, a company that customizes every product to the unique demands of individual customers is likely to see its costs grow out of control.

Question 18

_______ is the development of new, often radically different, kinds of goods and services.

Accepted Answer

Quantum product innovation results in the development of new, often radically different, kinds of goods and services because of fundamental shifts in technology brought about by pioneering discoveries.

Question 19

Which of the following must managers in product development avoid to promote innovation and speed up product development?

Accepted Answer

One of the most common mistakes managers make in product development is trying to fund too many new projects at any one time.

Question 20

The _____ plan specifies all of the relevant information that managers need to decide whether to go ahead with a full-blown product development effort.

Accepted Answer

The product development plan specifies all of the relevant information that managers need to decide whether to go ahead with a full-blown product development effort.

Quiz 9: Value Chain Management: Functional Strategies for Competitive Advantage

The first step in a stage-gate development funnel is to

________ are the goods and products manufactured using fundamental shifts in technology as a result of pioneering discoveries.

_____ is the fundamental rethinking and radical redesign of business procedures to achieve dramatic improvements in critical measures of performance such as cost, quality, service, and speed.

_______ is a technique that forces managers to choose among competing projects so functional resources are not spread thinly over too many projects.

Which of the following is true about the impact of information systems and the Internet on companies in general?

A newsletter publisher in a small town accepts subscription requests and handles queries through the town's mail services and through online subscriptions.The publishing unit provides after-sale service and support to its online subscribers.This publisher is using

A _________ is a written agreement that details factors such as responsibilities, resource commitments, budgets, time lines, and development milestones.

__________ members of a team bear the primary responsibility for the success of a project and stay with a project from inception to completion.

When there are ___ inputs required to produce a given output, the efficiency is _ and the cost of outputs is ___.

______ is the gradual improvement and refinement of existing products over time as existing technologies are perfected.

Illumin, a light bulb manufacturing company, strives to improve the longevity and brightness of its bulbs by continuously changing designs and trying different combinations of materials and component parts while manufacturing them.This is an example of

_______ is the management of the value chain activities that bring new products or services to market.

The _____ function controls the movement of physical materials from the procurement of inputs through production and to distribution and delivery to the customer.

The Donut House, a large donut bakery with outlets across several cities, improves the quality of the dough it uses and introduces a wide range of toppings and glazes to go with its donuts.This is an example of

Which of the following is true about quantum product innovations?

Total quality management (TQM) is a technique that focuses on

Sawyer Outfits manufactures baby clothes.The company has worked hard to develop function strategies to deliver customers desired product attributes.The company is likely to see costs grow out of control if it

_______ is the development of new, often radically different, kinds of goods and services.

Which of the following must managers in product development avoid to promote innovation and speed up product development?

The _____ plan specifies all of the relevant information that managers need to decide whether to go ahead with a full-blown product development effort.