Tag: Supply Chain Management / Operations Management

Which of the following is a frequently used and dependable strategic approach for setting a company apart from rivals, delivering superior value, achieving competitive advantage, and converting buyers into loyal customers?
Focusing on a narrow market niche and securing a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers that compose the niche
Developing competitively valuable resources and capabilities that rivals can’t easily imitate or improve in their own resources or capabilities that set a company’s product offering apart from those of rivals
Differentiating means by having the most unique and economically priced product offering of any firm in the industry
Striving to be the industry’s low-cost provider, thereby aiming for a cost-based competitive advantage over rivals that can become the basis for charging lower prices and/or earning higher profits

Question 2
The promotional mix refers to:
Select one
The eembination of one or more communication tools used to inform prospective buyers about the benefits of the product, persuade the and remind them later about the benefits they enjoyed by using the product.
The composition of the objectives of the promotion: to inform, to persuade, to remind, and to phase out.
The combination of both paid and nonpaid marketing tools used to promote product interest.
The set of promotional tools designed to motivate prospective buyers to purchase products and services: awareness, interest, evaluation. adoption.
The three underlying appeals used that make promotions effective: sex appeal, humor appeal, and fear appeal.
Question 3
A company or person who has information to convey during the communication process is referred to as a(n);

Question 15 (1.43 points)
You dramatically increase the chances of your idea being adopted, used, put into practice or sold if you can show how Relative Advantage is the degree to which ____ Select the best answer.
an innovation is perceived as difficult to understand. This is what you DON’T want. The key is to make the idea easy to understand.
an innovation is perceived as better than the product or practice it replaces. The greater the perceived relative advantage of an innovation, the more rapid its rate of adoption is going to be.
the results of an innovation are visible to others. The easier it is for potential adopters to see the results of an innovation, the more likely they are to adopt it.
an innovation may be experimented with on a limited basis.

Which of the following statements holds true for the concept of implicit contract?
Group of answer choices
It refers to the consumers’ right to sue manufacturers for injuries caused by a defective product.
It refers to an unwritten agreement formed between sellers and buyers as a function of their transaction.
It refers to a presumption that protections against deceitful advertising should only be extended to cover marketing efforts that would significantly mislead any consumer, including those much less sophisticated or experienced than typical buyers.
It refers to the identification of consumers with the products he or she buys and an accompanying need to buy in order to exist.
It refers to a presumption that protections against deceitful advertising should only be extended to cover marketing efforts that would significantly mislead a thoughtful, moderately experienced consumer.

Cartton, who is 22 years old, is employed as a security officer at My-T Security Corporation, which is a private firm. The manager of My-T Security intends to retain emplovees who are older as he feels that they are likely to perform better. He fires Carlton and replaces him with Sandy, who is 54 years old. Which of the following statements is most likely to be true in this case?
Carton will win an age discrimination suit under the ADEA against My-T Security as it is ilegal to fre an employee on the basis of age.
Carton cannot file an age discrimination suit against M-T Security as reverse discrimination is not covered under the ADEA.
Carton will win an age diccrimination suit under the ADEA against Mr-T Security as he is a member of the protected class.
Cartion canoot file an age discrimination suit against Mr-T Security under the ADCA as it is applicable only to federal employees.

(1pts)Question 16 –
Let’s say that Bill runs into LaFonda at the 27th Amendment Bar and Grill on a Saturday night. Bill is drunk and as he approaches LaFonda, he trips and falls on a fork. The fork pierces his frontal lobe, rendering Bill unable to speak for 6 weeks. Let’s say also that Sells-A-Lot has 51 employees. These are the only facts you know.
Will FMLA cover Bill?
Yes
No
Yes, but only if LaFonda is a US citizen
No, unless Bill acted negligently in the course and scope of his employment
None of the above

A company opting to boost its sales of branded footwear by offering buyers in one or more regions 500 models/styles to choose from should definitely consider:
building production facilities in Latin America and Europe-Africa to produce 500 models/styles and installing either production improvement options C or D at both of these locations.
instituting production improvement option B at all production locations where 500 models are going to be produced.
boosting the use of superior materials to 70% or more at all production locations where 500 models are to be produced to help also boost the company’s S/Q rating on the branded pairs being produced.
instituting production improvement option A at each production location producing 500 models, so as to conserve on expenditures for TQM/Six Sigma programs.
concentrating all production of 500 models at a production facility in Latin America.

Chuck is a tow-truck driver for Chesapeake Towing and is a W-2 employee. He received a call for a tow while he was at Chesapeake Towing’s main office near Bowie, Maryland. He drove the Chesapeake Towing truck from their Annapolis office toward Bowie when he saw a pile of discarded lumber near the dumpsters at a Home Depot. He drove to the Home Depot lot, loaded the wood onto his flatbed truck and drove 1 mile to his house where he dropped it behind his garage. As he pulled out of his driveway onto the service road next to Route 50, he negligently ran a read traffic light and injured Mr. Glen Burnie.
Group of answer choices
A. Chesapeake Towing is liable because Chuck was on a detour.
B. Chesapeake Towing is liable because Chuck was on a frolic.
C. Chesapeake Towing is not liable because Chuck was on a detour.
D. Chesapeake Towing is not liable because Chuck was on a frolic.

Lean Principles
The chief executive officer (CEO) of Platinum Inc. Just read an article wetten by a business problessor at monard unwersty discribing the benefits of the lean phillosophy. The CEO lasued the following atatement aher rading the arbole: cooperation. Select the istatement that suits the above stuation.
Lean manufacturing is
3. A philosophy that focuses on reducing vime, ess, poor quality and uncertainty foum a process.
An inventory reduction merhod.
Producing based on the sales.
Improving productivity lonoring the quality and other aspects.
3. The plan of introducing a lean manufacturing system may be effective to avail inevers.
2. The plan of introducing a lean manufacturing system may increase the productiver at the cosses?

Question 2: A company faces the following capital budgeting decision. Four real estate projects are available for investment. The net present value and expenditures required for each project (in millions of dollars) are as follows: Project 1 2 3 4 5 6 Net Present Value ($ Millions) 10 6 11 14 9 16 Expenditure Required ($ Millions) 70 35 80 60 40 100 The budget for this investment period is $300 million. If either project 1 or 4 is undertaken, they must both be undertaken. At most, two of the projects 2, 3 and 5 can be undertaken. Project 3 has to be undertaken if Project 4 is undertaken. Project 6 cannot be undertaken if Project 4 is undertaken. Formulate an optimization model to find the projects to invest that maximize the total net present value while satisfying all project restrictions and not exceeding the budget. (Do NOT solve the model.) (20 points)
Decision variables
x1 = 1 if Project 1 is undertaken; 0 otherwise.
x2 = 1 if Project 2 is undertaken; 0 otherwise.
x3 = 1 if Project 3 is undertaken; 0 otherwise.
x4 = 1 if Project 4 is undertaken; 0 otherwise.
x5 = 1 if Project 5 is undertaken; 0 otherwise.
x6 = 1 if Project 6 is undertaken; 0 otherwise.
Objective function
Maximize Z = 10 x1 + 6 x2 + 11 x3 + 14 x4 + 9 x5 + 16 x6
Constraints
Budget constraint:
70 x1 + 35 x2 + 80 x3 + 60 x4 + 40 x5 + 100 x6 ≤ 300
Projects 1 and 4 must be undertaken together:
x1 = x4
At most two of projects 2, 3, and 5:
x2 + x3 + x5 ≤ 2
Project 3 must be undertaken if project 4 is undertaken:
x4 ≤ x3
Project 6 cannot be undertaken if project 4 is undertaken:
x4 + x6 ≤ 1
Variable domains
x_i ∈ {0, 1} for i = 1, 2, 3, 4, 5, 6