Sustainable Business Strategy
The Triple Bottom Line includes what 3 criteria.
What is Economic Prosperity, Social Responsibility, and Environmental Stewardship?
If a customer values low price, what competitive factor would they seek?
What is Cost?
Competitive Dimensions have been seen as __________ historically?
What is Trade-Offs?
Dimensions used to screen a product or service as a candidate for purchase.
What is Order Qualifiers?
What is the first step in Risk Management?
Identify the sources of potential disruptions.
Example- Natural disasters, supplier failures, equipment failures, etc.
Refers to the company's impact on the environment.
What is Environmental Stewardship?
If a customer values high design and process, what competitive factor would they seek?
What is Quality?
T/F. The underlying logic is an operation cannot excel simultaneously on all competitive dimensions.
What is True?
One or more specific marketing-oriented dimensions that clearly differentiate a product from competing products.
What is Order Winners?
What is the second and third step in Risk Management?
2nd- Assess the potential impact of the risk. (Environmental impact, financial impact, brand image/reputation, etc.)
3rd- Develop plans to mitigate the risk. (dependent on the risk)
A firm is obligated to compensate shareholders who provide capital through stock purchases.
What is Economic Prosperity?
If a customer values fast and reliable transportation, what competitive factor would they seek?
What is Delivery?
Who decides what parameters of performance are critical to the firm's success?
What is Management?
What is Review all, Provide a weight for each, and the sum of the weights must equal 100?
What is the process to distinguish an Order Winner?
Output / (Labor+Capital+Energy) OR Output / (Labor+Capital+Materials)
What are Multifactor Measures?
Pertains to fair and beneficial business practices toward labor, the community, and the region in which a firm conducts business.
What is Social Responsibility?
What competitive factor responds to increases and decreases in demand and offers a wide variety of products to its customers?
What is Flexibility?
T/F. If a continuous improvement event is conducted that reduces the amount of inventory on the line and in the stockroom, that is likely to cumulatively improve cost, quality, delivery, and flexibility.
What is True?
What is it when manufacturing must meet but not necessarily exceed each criteria for market space?
What is manufacturing's responsibility to Order Qualifiers?
The basic formula for a measure of how well resources are used (productivity).
Outputs / Inputs
T/F. Another concept for Triple Bottom Line is "People, Planet, and Profit" OR "Folk, Work, and Place".
What is True?
What competitive factor has the ability to convert to a new product or service in a timely manner?
What is Innovation?
What is the biggest/most common trade-off in the workforce today? (e.g. truck vs. air)
What is Delivery Speed vs. Cost?
Describe a scenario in which you would use order qualifiers and order winners.
Purchasing a laptop.
Order Qualifiers - Before browsing it must meet the requirements of your preferred weight, size, processor, etc.
Order Winner - After selecting a group of 3-4 laptops the purchasing decision was the feeling of the your hands on the keyboard.
Output/Labor OR Output/Capital OR Output/Materials OR Output/Energy
What are Partial Productivity Measures formulas?