GSCM 206 GSCM206 Week 1 Quiz Answers (Devry)
GSCM 206 Week 1 Quiz
- (TCO 1) What are the five elements in the management process?
- (TCO 2) Which of the following are the competing forces in Porter’s five forces model?
- (TCO 1) Which one the following is not a reason why productivity is difficult to improve in the service sector?
- (TCO 4) Susan has a part-time "cottage industry" producing seasonal plywood yard ornaments for resale at local craft fairs and bazaars. She currently works a total of 5 hours per day to produce 15 ornaments. She thinks that by redesigning the ornaments and switching from the use of a wood glue to a hot glue gun, she can increase her total production to 20 ornaments per day. What is her percentage increase in productivity?
- (TCO 4) Gibson Valves produces cast bronze valves on an assembly line, currently producing 2,000 valves during each 8-hour shift. If the production is increased to 2,400 valves for each 8-hour shift, the productivity will increase by _____.
- (TCO 4) Barbara has her own business as a dressmaker. She makes custom dresses for all occasions. During a year, she can make 400 dresses. She currently works 50 weeks a year. What is her productivity?
- (TCO 2) Which of the following is the best example of a pure service?
- (TCO 2) The action plan to achieve the existence of any organization is described by its _____.
- (TCO 2) The impact of a firm's strategies to achieve their mission is which of the following?
- (TCO 4) According to the authors, what are the three key strategic concepts that allow firms to achieve competitive advantage?
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(TCO 3) Managers are often required to make decisions about the future based