OPERATION MANAGEMENT- CH5 EXAM
WITH COMPLETE QUESTIONS AND
ANSWERS { GRADED A+}
Regal Marine - ✔✔C) treats the product design decision as critical to its success.
The three major elements of the product decision are: - ✔✔A) selection,
definition, and design.
In which stage of the product life cycle should product strategy focus on process
modifications as the product is being "fine-tuned" for the market? - ✔✔A)
Introduction
A product's life cycle is divided into four stages, which are: - ✔✔D) introduction,
growth, maturity, and decline.
When should product strategy focus on forecasting capacity requirements? -
✔✔B) at the growth stage of the product life cycle
,The analysis tool that lists products in descending order of their individual dollar
contribution to the firm is: - ✔✔D) product-by-value analysis.
At which stage of the product life cycle is product strategy likely to focus on
improved cost control? - ✔✔C) maturity
________ is used to rank a company's products to determine which products
represent the best use of the firm's resources, or, perhaps, to determine which
products are to be eliminated. - ✔✔D) Product-by-value analysis
What percentage of sales from new products is indicative of industry leaders? -
✔✔A) 50%
Regal Marine's use of ________ has reduced product development time and
reduced problems with tooling and production. - ✔✔CAD or Computer-aided
Design
In the ________ phase of the product life cycle, the product design has begun to
stabilize. - ✔✔Growth
________ lists products in descending order of the individual dollar contribution to
the firm. - ✔✔Product-by-value analysis
, What is the objective of the product decision? - ✔✔To develop and implement a
product strategy that meets the demands of the marketplace with a competitive
advantage.
What is a product-by-value analysis, and what type of decisions does it help
managers make? - ✔✔A product-by-value analysis lists products in descending
order of their individual dollar contribution to the firm, as well as the total annual
dollar contribution of the product.
It helps managers evaluate possible strategies for each product. The report may
also tell management which product offerings should be eliminated and which fail
to justify further investment in research and development or capital equipment.
The product-by-value report focuses management's attention on the strategic
direction for each product.
"With respect to the product decision, managers must be able to accept risk and
tolerate failure." Comment on why this is a necessary hazard in making new
product decisions, given all the powerful tools and carefully built systems that
support that decision. - ✔✔The vast majority of new product ideas do not become
marketable products, and most marketable products are failures. Perhaps hundreds
of designs accompany each success.
WITH COMPLETE QUESTIONS AND
ANSWERS { GRADED A+}
Regal Marine - ✔✔C) treats the product design decision as critical to its success.
The three major elements of the product decision are: - ✔✔A) selection,
definition, and design.
In which stage of the product life cycle should product strategy focus on process
modifications as the product is being "fine-tuned" for the market? - ✔✔A)
Introduction
A product's life cycle is divided into four stages, which are: - ✔✔D) introduction,
growth, maturity, and decline.
When should product strategy focus on forecasting capacity requirements? -
✔✔B) at the growth stage of the product life cycle
,The analysis tool that lists products in descending order of their individual dollar
contribution to the firm is: - ✔✔D) product-by-value analysis.
At which stage of the product life cycle is product strategy likely to focus on
improved cost control? - ✔✔C) maturity
________ is used to rank a company's products to determine which products
represent the best use of the firm's resources, or, perhaps, to determine which
products are to be eliminated. - ✔✔D) Product-by-value analysis
What percentage of sales from new products is indicative of industry leaders? -
✔✔A) 50%
Regal Marine's use of ________ has reduced product development time and
reduced problems with tooling and production. - ✔✔CAD or Computer-aided
Design
In the ________ phase of the product life cycle, the product design has begun to
stabilize. - ✔✔Growth
________ lists products in descending order of the individual dollar contribution to
the firm. - ✔✔Product-by-value analysis
, What is the objective of the product decision? - ✔✔To develop and implement a
product strategy that meets the demands of the marketplace with a competitive
advantage.
What is a product-by-value analysis, and what type of decisions does it help
managers make? - ✔✔A product-by-value analysis lists products in descending
order of their individual dollar contribution to the firm, as well as the total annual
dollar contribution of the product.
It helps managers evaluate possible strategies for each product. The report may
also tell management which product offerings should be eliminated and which fail
to justify further investment in research and development or capital equipment.
The product-by-value report focuses management's attention on the strategic
direction for each product.
"With respect to the product decision, managers must be able to accept risk and
tolerate failure." Comment on why this is a necessary hazard in making new
product decisions, given all the powerful tools and carefully built systems that
support that decision. - ✔✔The vast majority of new product ideas do not become
marketable products, and most marketable products are failures. Perhaps hundreds
of designs accompany each success.
