CPIM Practice Questions Section 1
An organization is examining its corporate social responsibility policies and wants to
start by looking to internal influences to guide any changes it makes. Which of the
following is an example of an internal influence? - answer Intended customers
A company losing market share due to price competition should incorporate which of
the following techniques? - answer Value chain analysis
A commercial door manufacturer wants to add some make-to-stock (MTS) capabilities
to its current make-to-order (MTO) manufacturing environment. Which of the following
should be modified to reflect this strategy and what competitive advantage could be
emphasized in line with this strategy? - answer Vision statement should be modified to
express a goal of faster lead time.
What does an effective strategy require? - answer Flexibility to adapt to changing
conditions
Corporate strategy is best developed by: - answerthe CEO and other senior executives.
Which are primary activities in manufacturing planning and control? - answerProduction
planning and inventory management.
What does the five forces model of competition suggest will happen to rivalry between
competitors when high exit barriers exist, such as job protection agreements, or in
industries in which assets cannot be easily sold? - answerRivalry will increase.
What will increase rivalry among sellers in the same industry? - answerBuyer demand
grows slowly or is flat, and both strong and weak rivals exist.
A firm's marketing strategy directly impacts the production plan by which of the following
actions? - answerIncreasing demand
In an annual new product planning activity, using forecasts of product groups by dollars
is often regarded as step two, with step one being a competitive: - answerSWOT
analysis
What are the primary characteristics of competitive advantage? - answerSustainable
and hard to imitate
An adaptive company that frequently experiments with developing potentially disruptive
products experiences a new product failure. How will the company likely view this
failure? - answerAs a valuable knowledge-gathering experience
An organization is examining its corporate social responsibility policies and wants to
start by looking to internal influences to guide any changes it makes. Which of the
following is an example of an internal influence? - answer Intended customers
A company losing market share due to price competition should incorporate which of
the following techniques? - answer Value chain analysis
A commercial door manufacturer wants to add some make-to-stock (MTS) capabilities
to its current make-to-order (MTO) manufacturing environment. Which of the following
should be modified to reflect this strategy and what competitive advantage could be
emphasized in line with this strategy? - answer Vision statement should be modified to
express a goal of faster lead time.
What does an effective strategy require? - answer Flexibility to adapt to changing
conditions
Corporate strategy is best developed by: - answerthe CEO and other senior executives.
Which are primary activities in manufacturing planning and control? - answerProduction
planning and inventory management.
What does the five forces model of competition suggest will happen to rivalry between
competitors when high exit barriers exist, such as job protection agreements, or in
industries in which assets cannot be easily sold? - answerRivalry will increase.
What will increase rivalry among sellers in the same industry? - answerBuyer demand
grows slowly or is flat, and both strong and weak rivals exist.
A firm's marketing strategy directly impacts the production plan by which of the following
actions? - answerIncreasing demand
In an annual new product planning activity, using forecasts of product groups by dollars
is often regarded as step two, with step one being a competitive: - answerSWOT
analysis
What are the primary characteristics of competitive advantage? - answerSustainable
and hard to imitate
An adaptive company that frequently experiments with developing potentially disruptive
products experiences a new product failure. How will the company likely view this
failure? - answerAs a valuable knowledge-gathering experience