ISA 111 Quiz No. 1.2

What are Critical Functions?

• Functions that are important to the organization’s pursuit of its core business

• Functions that are essential to the operation of the business

• Functions that are important to reduce costs and bloated payrolls

• Functions that are very important to a company’s core business activity

What is the definition of Core Competencies?

• Taking action to reduce an organization's exposure to potential risks

• The defining products, services, skills and capabilities that give a business advantages over its competitors

• An amount that has to be paid or spent to buy or obtain something

• The choice, judgment, or control of when something should be done

What is Risk Mitigation?

• A thing able to be provided, especially as a product of a development process

• Involves taking action to reduce an organization's exposure to potential risks and reduce the likelihood that those risks will happen again

• The choice, judgment, or control of when something should be done

• It is an amount that has to be paid or spent to buy or obtain something

What are the reasons for adopting BPO?

• Reduced time to market

• Increased market flexibility

• All of the above

• Acquiring third-party expertise

What is the BPO Project Team Structure?

• BPO Steering Team, BPO Project Management Team, BPO Analysis Team (BAT)

• BPO Steering Team, BPO Project Management Team, BPO Vendor Selection Team

• BPO Project Management Team, BPO Analysis Team (BAT), BPO Vendor Selection Team

• BPO Steering Team, BPO Analysis Team (BAT), BPO Vendor Selection Team

What is the first step in the Six-Step Process for BPO?

• Establish a BPO Analysis Team (BAT)

• Develop and present the business case

• Conduct a current-state analysis

• Identify BPO opportunities

What is the challenge of 'Boundaryless' Organizations?

• They are based on the free flow of information and ideas to drive innovation, efficiency and growth

• They require a strong set of core values and a strong vision

• They are dispersed across geographic borders

• They have defined vertical and horizontal borders and hierarchies

What is the purpose of Business Process Mapping (BPM)?

• To identify core and noncore activities

• To conduct a current-state analysis

• To analyze the BPO opportunity

• To define clearly the activities within a process and to identify activity owners

What is Tier 1 in the Three-Tier Mapping Approach?

• The activities that occur within those departments to accomplish various tasks

• The process of identifying the resources that support the Tier 1 and Tier 2 processes

• The arrangement of processes within the organization

• The process at the highest level, using the common business unit terms of the organization chart

What is the definition of Core Competence according to C. K. Pralahad and Gary Hamel?

• Any behavior that can raise your stock price is core, everything else is context

• A company’s core competence is the process or processes that the front office, and especially the sales and marketing team, emphasizes to customers

• A resource that is valuable, rare, difficult to imitate, and difficult to substitute

• A process that exhibits three traits