WorksheetsOPSMGT 255 Wk2: Strategy & Decision Analysis
Total questions: 10
Worksheet time: 5mins
A strategy is
an action plan to achieve a mission.
the purpose for which an organisation is established.
a function area of a firm
the goal that is to be achieved.
Three levels of Strategy Hierarchy includes:
Corporate level,
Business level, and
Finance
Corporate level,
Business level, and
Functional level
Corporate level,
Marketing strategy,
and Operations Strategy
Operations department,
Marketing department,
and Finance department
Which of the following is NOT a strategic OM decision?
quality
procurement
layout design
marketing
A core competency is
a common vision that
unites an organization, provides
consistency in decisions
the essential capabilities that create a firm's sustainable competitive advantage
characteristics of a product
or service that qualify it to be
considered for purchase
when you've been doing lots of sit-ups and have really good core muscles
The characteristics of a product or service that wins orders in the marketplace
Order winners
Quality Dimensions
Order Qualifier
Orders
Once established, competitive advantages last forever whether the firm is in a high technology environment or not.
True
False
Which decision-making criteria can be described as optimistic?
maximin
minimax regret
equal likelyhood
maximax
The maximum value you would be willing to pay to know the future state is called
expected value of perfect information
expected value of maximax
Airlines such as JetStar, Ryan Air and Air Asia compete on:
Flexibility
Quality
Cost
Comfortability
Clothing company Zara competes on
quality
service
cost
speed
