Reference no: EM132303668
1. Select the entry which most closely describes the technology development or market entry alternative referred to as the 'Follow-the-Leader' or 'Fast-Follower' posture.
a. Do not attempt to reach new markets first, but rather prevent complete dominance by a competitor by entering a market second with a suitable competing offering.
b. Defend corporate profits vigorously by aggressively entering new markets with products before any competitors can reach the market first.
c. Defend the firm's existing markets only; do not attempt to enter new markets at any time.
d. Wait until a market segment is ready to be abandoned by a major player and then jump in before other entrepreneurial ventures can do so.
2. The regular corporation is the form of legal business entity that experiences the "double taxation" disadvantage. Which of the following entries best describes "double taxation" in this context? (Choose one.)
a. The fact that tax is paid on corporate profits and then again on the capital gains realized as the corporation's shares gain value and are sold by shareholders.
b. The fact that tax is paid on sales of the corporation's products and services and then again on the profits from those sales.
c. The fact that the entrepreneurs who founded the corporation paid taxes on their income that was saved over time to invest in launching and building the corporation and then again on the profits from the corporation.
d. The fact that tax is levied on corporate profits and then again on dividends paid to shareholders from those profits.
3. Peter Drucker believes that technology entrepreneurs successfully compete with large firms in part because large firms have "existing successful operations." Why would this be true? One of the answers here is an incorrect explanation and the others are at least plausible. Which is the incorrect explanation? (Choose one)
a. Large firms choose to first serve current customers by providing resources to support existing operations, and though they may have good intentions they rarely get around to pursuing new opportunities.
b. Large firms have enough profits flowing from existing successful operations that they don't have strong incentive to be entrepreneurial.
c. Existing operations attract mostly unimaginative professionals who do not make good entrepreneurs.
d. Large firms hesitate to change their mix of existing business activities for fear that they may alienate current customers. They think, "If it ain't broke, don't fix it."
4. In order to successfully launch a technology venture it is almost always necessary to have the Product Developer type, the one who translates ideas into a tangible product, be an employee of the venture.
True
False
5. Building a cumulative probability distribution for each variable is not one of the steps of Monte Carlo Simulation
True False
6. One of the major advantages of simulation is "time compression," i.e., the ability to study in a relatively short period, activities that would, in reality, take place over a period of days, months, or even years.
True False
7. Simulation models are limited to using standard probability distributions such as Poisson, exponential, normal, etc.
True False
8. Deciding on the appropriate number of workers, scheduling those workers and deciding whether overtime of multiple work shifts are to be employed are decisions that are made wholly by the human resources function of the firm.
A) True
B) False
9. Operational planning and control decisions address where the factory or facilities shall be located and how much capacity will be needed.
A) True
B) False
10. Balancing the desire to efficiently use resources while providing a high quality service encounter is an operations management challenge.
A) True
B) False
11. An operations strategy involves a long term process that must resist change.
A) True
B) False
12. The master production schedule states which end items are to be produced, in addition to when and how many.
True False
13. The bill of materials indicates how much material will be needed to produce the quantities on a given master production schedule.
True or False