Michael Porter draws a firm distinction between operational effectiveness and a strategy. Briefly describe this distinction and identify when a company can claim that it has a strategy
What will be an ideal response?
Competitors can quickly copy the operationally effective company using benchmarking and other tools, thus diminishing the advantage of operational effectiveness. Porter defines strategy as "the creation of a unique and valuable position involving a different set of activities." A company can claim that it has a strategy when its activities differ from those of its rivals or performs similar activities in different ways.
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Jeff Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred: 1. Jackson invested $27,000 cash in the business in exchange for common stock. 2. Jackson contributed $102,000 of equipment to the business. 3. The company paid $2200 cash to rent office space for the month of March. 4. The company received $18,000 cash for repair services provided during March. 5. The company paid $6400 for salaries for the month of March. 6. The company provided $3200 of services to customers on account. 7. The company paid cash of $700 for utilities for the month of March. 8. The company received $3300 cash in advance from a customer for repair services to be provided in April. 9. The company paid $5200 in cash dividends. Based on this
information, net income for March would be: A. $15,400. B. $11,900. C. $5500. D. $8200. E. $15,500.
According to The Core Principles of Professional Selling, a salesperson should have a ________ that focuses all sales efforts on serving others.
A. plan B. quota C. purpose D. target E. goal
Charm Enterprises' production budget shows the following units to be produced for the coming three months: April May June Units to be produced 2,560 2,880 2,760 A finished unit requires four ounces of a key direct material. The March 31 Raw Materials Inventory has 4,032 ounces (oz.) of the material. Each month's ending Raw Materials Inventory should be 35% of the following month's production needs. Materials purchases in May should be?
A. 7,616 oz. B. 11,520 oz. C. 11,352 oz. D. 7,448 oz. E. 15,384 oz.
The advantage of simulation over queuing or waiting line models is that simulation allows us to relax our assumptions regarding arrival and service distributions
Indicate whether the statement is true or false