Worksheets1-26 (Chapters 11-15) Review
Total questions: 27
Worksheet time: 20mins
Which of the following is not one of the common assumptions typically used in break-even analysis?
Fixed costs are never considered
Fixed costs remain constant over the period and volumes considered
Variable costs fluctuate in a linear fashion
Revenues vary directly with volume
In should-cost modeling, _____ refers to the integrity and transparency of the cost model created.
Value stream maps
Make-or-buy analysis
Fixed cost
Auditability
_____ is defined as the present value of all costs associated with a product, service, or capital equipment that are incurred over its expected life.
Cash flow analysis
Revenue pricing
Competition pricing
Spending Analysis
A/An _____ is defined as the cost of the next best alternative.
Operating cost
Net present value
Usage cost
Opportunity cost
Which of the following is not one of the important factors to consider when building a TCO model?
Focus on the small and easily measurable costs first
Building a TCO can be a costly and time-intensive activity
Work in a team
Make sure to obtain senior management buy-in before embarking on a full-fledged TCO.
The _____ (in time) through a PERT network is the _____.
Longest path...critical path
Shortest path….critical path
Longest path….slack
Shortest path….slack
According to Ohno and Toyota, _____ is a category of waste that produces items for which there are no orders.
Excess inventory
Overproduction
Waiting time
Defect
_____ actions and resources are those that create value for the customer.
Non-value-adding
Necessary non-value-adding
Value-adding
Extras
_____ actions and resources are everything done in the process, which contribute no value to the customer, but which they are forced to pay for when they buy the product or service.
Value-adding
Necessary non-value-adding
Waiting time
Non-value-adding
A negotiator’s _____ can be defined as his or her opening offer, which represents the optimistic (or ideal) value of the issue being negotiated.
Interest
Need
BATNA
Position
Which of the following is not a reason for negotiating with suppliers?
The total contract value or volume is large
The purchase is for widely available, commodity-like goods
The purchase involves utilization of capital-intensive plant and equipment
The supplier will perform important or significant value-added activities
A _____ is a movement away from a negotiating position that offers something of value to the other party in order to ultimately gain something else of value.
Reward
Tactic
Concession
Strategy
Step 1 of Triangle Talk is _____.
Know exactly what they want
Propose action in a way they can accept
Know exactly what you want
Apply tactics to win the negotiation
Step 2 of Triangle Talk is _____.
Apply strategy to win the negotiation
Know exactly what they want
Know exactly what you want
Propose action in a way they can accept
Step 3 of Triangle Talk is _____.
Apply tactics to win the negotiation
Know exactly what you want
Use power to get what you want
Propose action in a way they can accept
_____ means that two or more parties are competing over a fixed sum value with the winner taking all or the larger share.
Lose-lose negotiation
Win-lose negotiation
Winner-take-all negotiation
Integrative bargaining
_____ seeks to expand the value or resources of outcomes available to all parties through cooperative negotiation.
Win-win negotiation
Distributive bargaining
Competitive bargaining
Lose-lose negotiation
The _____ clause of a contract defines all of the important terms contained within the contract and is important so everyone understands exactly what each term means.
Supply and delivery
Definitions
Force majeure
Scope of agreement
The ____ clause of a contract defines what is in and out of scope, which might include the geographical limitations, the validity or invalidity of prior contracts, preferential treatment by the supplier, or other elements.
Force majeure
Supply and delivery
Scope of agreement
Liability
The _____ clause of a contract generally specifies who is responsible if there are injuries or damage, over the course of the contract, and any damages to be paid.
Key performance indicators and compensation
Definitions
Free trade areas
Liability
The _____ clause of a contract describes the course of events that occur if there are unforeseen calamities such as earthquakes or hurricanes that prevent a supplier from fulfilling its obligations to the buyer.
Liability
Force majeure
Confidentiality
Third-party rights
The _____ clause of a contract specifies conditions regarding who own any IP rights that comes out of the agreement, and who owns what IP going into the agreement.
Liability
Technology improvements
Intellectual property
Assignment and contracting
The _____ clause in a contract ensures that all information, technology, and so on shared between the parties remains confidential and is not shared with other customers or suppliers.
Assignment and contracting
Liability
Third-party rights
Confidentiality
_____ essentially determines the nature of agreements that are enforceable and create legal rights between the parties.
Agency law
Contract law
Civil law
Litigation
_____ deals with the role of managers as individual representatives acting on behalf of their organizations.
Contract law
Civil law
Mediation
Agency law
_____ is defined as that body of the law that refers to how business firms (parties) enter into contracts with each other, execute contracts, and remedy problems that arise in the process.
Agency law
Commercial law
All of the above
None of the above
The _____ clause in a contract ensures that all information, technology, and so on shared between the parties remains confidential and is not shared with other customers or suppliers.
Assignment and contracting
Liability
Third-party rights
Confidentiality
