Worksheets2nd_OnlineQuiz_QualityManagement
Total questions: 15
Worksheet time: 15mins
C3: What is Competitive Advantage?
The quality of being particularly remarkable, special, or unusual.
The set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition.
The victor is the winner of a contest, usually one that requires physical skills or strength.
C3: Which one of these IS NOT the types of Competitive Advantage?
Cost
Product/ Service Differentiation
Niche
Positioning
C3: What is the right definition of Cost Competitive Advantage?
Being the low-cost competitor in an industry while maintaining satisfactory profit margin.
Low in price, especially in relation to similar items or services.
A person who is unwilling to spend money.
C3: What is Product/Service Differentiation Competitive Advantage?
A practice in which manufacturers of goods or providers of a service gain exposure for their products by paying for them to be featured in films and television programmes.
The provision of something that is unique and valuable to buyers beyond simply offering a lower price than competitors.
When a company's customer decides to buy something from a different brand than the one they usually prefer.
C3: What is Niche Competitive Advantage?
A small, specialized market for a particular product or service.
Street markets which operate at night and are generally dedicated to more leisurely strolling, shopping, and eating than more businesslike day markets.
The advantage achieved when a firm seeks to target and effectively serve a small segment of the market.
C4: Partnering is ________________ and the purpose of partnering is _________.
Associate or work together, align with the company’s vision and mission.
Working together for mutual benefit, to enhance competitiveness
C4: What does it mean by Internal partnering?
Collaborative arrangements within a group of companies or within various strategic business.
Creating an environment and establishing mechanisms within it that bring managers and employees, teams, and
individual employees together in mutually supportive alliances that maximize the human resources of an organization
C4: How many stages for development in Supplier Partnerships?
5
8
7
13
C4: What is the MAIN goal for Partnering with Suppliers?
Create and maintain a loyal, trusting, reliable relationship that will allow both partners to win, while promoting the continuous improvement of quality, productivity, and competitiveness.
A negotiated and typically legally binding arrangement between parties as to a course of action
C4: Company needs to ask these questions in Partnering with Customers: 1. Who knows better what the customer wants, your organization or the customer?
2. What makes more sense, guessing what a customer wants, or asking them?
3. Can a manufacturer benefit from seeing how the product is used by the customer?
4. What costs more, making design changes early in the development phase, or recalling faulty products which have been already made and delivered?
FALSE
TRUE
C5: In Quality Management, what does it means by Customer Satisfaction?
Customers who are satisfied with the product or service performance exceed their expectation.
Customers who are satisfied with the quality of their purchases from an organization.
C5: How many steps are there in building customer satisfaction?
5
4
7
12
C5: They are good fit between company’s offerings and customer’s needs & high potential profit. Who are they?
Butterflies.
Strangers.
True Friends.
Barnacles.
C5: In order to get these customers, company needs to communicate constantly and have a delight to nurture, defend and retain them. Who are these customers?
Butterflies.
Strangers.
True friends.
Barnacles.
They have little fit between company’s offerings and customers’ needs. Plus, they are at the lowest profit potential. Who are these customers?
Butterflies.
Strangers.
True Friends.
Barnacles.
