MGSC 346 LATEST 2026 SCRIPT QUESTIONS AND
SOLUTIONS GUARANTEE A+
✔✔How Operations Mgt. Can Increase Profits - ✔✔Profits= Total Revenues- Total
Costs
= [(Price)*(Quantity)] - [Fixed Costs + Variable Costs]
Increased Prices: (better quality, better service, innovation/faster R&D,...)
Increased Quantity (forecasting, inventory, SCM, layout, capacity, fewer
defects...)
Lower Variable Costs: (lean mgt., Deming waste reduction, offshore
outsourcing, relocate to different state, bulk buying materials, nonpeak utilities,
Quality tools)
Lower Fixed Costs: (lower RE costs via layout change/relocate to different state,
legal retainer fees, insurance premiums, overseas facilities, reduce government
regulations)
✔✔Sustainability - ✔✔The ability to meet current resource needs without compromising
the ability of future generations to meet their needs
✔✔Shareholders - ✔✔Individuals or companies that legally own one or more shares of
stock in the company
✔✔Stakeholders - ✔✔Individuals or organizations who are directly or indirectly
influenced by the actions
of the firm. Not possible to please all stakeholders; assess their power and predict
actions.
✔✔The goal of sustainability means that the scope of the firm's strategy must focus on -
✔✔The goal of sustainability means that the scope of the firm's strategy must focus on
three areas (the triple bottom line). In 2021 this is called ESG investing- environmental,
societal, and governance.
✔✔Social responsibility - ✔✔Business practices should be fair to labor, the community,
and the region where the firm conducts business. Not every manager or firm agrees
upon this responsibility.
✔✔Economic prosperity - ✔✔shareholders must be compensated via a competitive
return
✔✔Environmental stewardship - ✔✔the company should protect the environment as
much as possible
✔✔Operations and Supply Chain Strategy - ✔✔Setting broad policies and plans for
using the resources of a firm must be integrated with corporate strategy
, ✔✔Corporate strategy - ✔✔Corporate strategy provides overall direction and
coordinates operational goal with those of the larger organization
✔✔Operations effectiveness - ✔✔performing activities in a manner that best
implements strategic priorities at a minimum cost
✔✔Cost or Price (Competitive Dimension) - ✔✔Make the product or deliver the service
cheap; offer lowest price guarantee
✔✔Quality (Competitive Dimension) - ✔✔Make a great product or delivery a great
service
✔✔Delivery Speed (Competitive Dimension) - ✔✔Make the product or deliver the
service quickly
✔✔Delivery Reliability (Competitive Dimension) - ✔✔Deliver it when promised
✔✔Coping with Changes in Demand (Competitive Dimension) - ✔✔Change its volume
✔✔Flexibility and New-Product Introduction Speed (Competitive Dimension) -
✔✔Change it (offer a wide variety of existing products and introduce new products
quickly)
✔✔Other Product-Specific (Competitive Dimension) - ✔✔Support it (technical
assistance, meeting launch dates, after sale support, environmental impact
✔✔Technical liaison and support (Competitive Dimension) - ✔✔A supplier may be
expected to provide technical assistance for product development
✔✔Ability to meet a launch date (Competitive Dimension) - ✔✔Requirement to
coordinate with other firms on a complex project
✔✔Supplier after-sales support (Competitive Dimension) - ✔✔Involves the availability of
replacement parts
✔✔Environmental Impact (Competitive Dimension) - ✔✔Related to criteria such as
carbon dioxide emission, the use of nonrenewable resources
✔✔Other dimensions (Competitive Dimension) - ✔✔Colors available, size, weight,
location, customization
✔✔Order Winners and Order Qualifiers - ✔✔Describe marketing-oriented dimensions
that are keys to competitive success
SOLUTIONS GUARANTEE A+
✔✔How Operations Mgt. Can Increase Profits - ✔✔Profits= Total Revenues- Total
Costs
= [(Price)*(Quantity)] - [Fixed Costs + Variable Costs]
Increased Prices: (better quality, better service, innovation/faster R&D,...)
Increased Quantity (forecasting, inventory, SCM, layout, capacity, fewer
defects...)
Lower Variable Costs: (lean mgt., Deming waste reduction, offshore
outsourcing, relocate to different state, bulk buying materials, nonpeak utilities,
Quality tools)
Lower Fixed Costs: (lower RE costs via layout change/relocate to different state,
legal retainer fees, insurance premiums, overseas facilities, reduce government
regulations)
✔✔Sustainability - ✔✔The ability to meet current resource needs without compromising
the ability of future generations to meet their needs
✔✔Shareholders - ✔✔Individuals or companies that legally own one or more shares of
stock in the company
✔✔Stakeholders - ✔✔Individuals or organizations who are directly or indirectly
influenced by the actions
of the firm. Not possible to please all stakeholders; assess their power and predict
actions.
✔✔The goal of sustainability means that the scope of the firm's strategy must focus on -
✔✔The goal of sustainability means that the scope of the firm's strategy must focus on
three areas (the triple bottom line). In 2021 this is called ESG investing- environmental,
societal, and governance.
✔✔Social responsibility - ✔✔Business practices should be fair to labor, the community,
and the region where the firm conducts business. Not every manager or firm agrees
upon this responsibility.
✔✔Economic prosperity - ✔✔shareholders must be compensated via a competitive
return
✔✔Environmental stewardship - ✔✔the company should protect the environment as
much as possible
✔✔Operations and Supply Chain Strategy - ✔✔Setting broad policies and plans for
using the resources of a firm must be integrated with corporate strategy
, ✔✔Corporate strategy - ✔✔Corporate strategy provides overall direction and
coordinates operational goal with those of the larger organization
✔✔Operations effectiveness - ✔✔performing activities in a manner that best
implements strategic priorities at a minimum cost
✔✔Cost or Price (Competitive Dimension) - ✔✔Make the product or deliver the service
cheap; offer lowest price guarantee
✔✔Quality (Competitive Dimension) - ✔✔Make a great product or delivery a great
service
✔✔Delivery Speed (Competitive Dimension) - ✔✔Make the product or deliver the
service quickly
✔✔Delivery Reliability (Competitive Dimension) - ✔✔Deliver it when promised
✔✔Coping with Changes in Demand (Competitive Dimension) - ✔✔Change its volume
✔✔Flexibility and New-Product Introduction Speed (Competitive Dimension) -
✔✔Change it (offer a wide variety of existing products and introduce new products
quickly)
✔✔Other Product-Specific (Competitive Dimension) - ✔✔Support it (technical
assistance, meeting launch dates, after sale support, environmental impact
✔✔Technical liaison and support (Competitive Dimension) - ✔✔A supplier may be
expected to provide technical assistance for product development
✔✔Ability to meet a launch date (Competitive Dimension) - ✔✔Requirement to
coordinate with other firms on a complex project
✔✔Supplier after-sales support (Competitive Dimension) - ✔✔Involves the availability of
replacement parts
✔✔Environmental Impact (Competitive Dimension) - ✔✔Related to criteria such as
carbon dioxide emission, the use of nonrenewable resources
✔✔Other dimensions (Competitive Dimension) - ✔✔Colors available, size, weight,
location, customization
✔✔Order Winners and Order Qualifiers - ✔✔Describe marketing-oriented dimensions
that are keys to competitive success
