How do experience-curve and learning-curve effects help a business gain competitive advantage?
What will be an ideal response?
Learning by doing can drive down cost. As individuals and teams engage repeatedly in an activity, whether writing computer code, developing new medicines, or building submarines, they learn from their cumulative experience.
In the experience curve, in contrast, we now change the underlying technology while holding cumulative output constant. Process innovation is the use of a new method or technology to produce an existing product. The concept of an experience curve attempts to capture both learning effects and process improvements. In this perspective, economies of learning allow movement down a given learning curve based on current production technology. By moving further down a given learning curve than competitors, a firm can gain a competitive advantage.
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Research shows that standardized, integrated, and networked technology enhances decision making and performance management.
Answer the following statement true (T) or false (F)
An emphasis of a matter may result in which of the following?
a. A disclaimer of an audit opinion. b. A qualified audit opinion. c. An adverse opinion. d. An unqualified audit opinion with an explanatory paragraph either before or after the opinion paragraph.
The Second Bank of the United States was denied a new charter by
A) President Andrew Jackson. B) Vice President John Calhoun. C) President Benjamin Harrison. D) President John Q. Adams.
Treston, an automobile manufacturer, recently implemented a new database system. It was confident that this system would help enhance the company's internal (employees) and external (customers and channel partners) communication
Treston had planned to pursue a just-in-time inventory system soon after the database system was implemented. After the implementation of the database system, however, Treston realized that the database system was not effective. Which of the following can be cited as a reason for the failure of Treston's database system?A) Aerodoungle launched a new version of Enterprise Database Access, which was better than Treston's database system. B) The maintenance cost of Treston's new database system was less than the one it was previously using. C) Treston's new database system was not supported by the database system of its suppliers and distributors. D) Treston's competitors implemented its database a few days prior to Treston's implementation date. E) Treston had internally trained personnel managing its new database system, thereby keeping costs low.