BZ450 Lesson 3 Exam SCORE 100 PERCENT....objective

Question 1        5 / 5 points
Terry Washington recently started a new firm in the financial services industry. Prior to starting his firm, he spent considerable time doing research on the potential of the industry. The research that Terry was doing is called a(n) ________ analysis.
Question options:

a)     industry


b)     sector


c)     commercial


d)     business

Question 2        5 / 5 points
In the beverage industry, soda, fruit juice, and sports drinks are ________ competitors of bottled water.
Question options:

a)     occasional


b)     infrequent


c)     indirect


d)     direct

Question 3        5 / 5 points
Which of Porter's five forces is most directly influenced by the number and balance of competitors, degree of difference between products, growth rate of an industry, and level of fixed costs?
Question options:

a)     Threat of new entrants


b)     Rivalry among existing firms


c)     Threat of substitutes


d)     Bargaining power of buyers

Question 4        5 / 5 points
In the context of competitor analysis, businesses that offer identical or similar products are referred to as ________competitors.
Question options:

a)     immediate


b)     direct


c)     indirect


d)     straight

Question 5        5 / 5 points
A(n) ________ business plan, which is intended to be a blueprint for a company's operations, is 40-100 pages long and is meant primarily for an internal audience.
Question options:

a)     operational


b)     full


c)     deliberate


d)     summary

Question 6        5 / 5 points
A(n) ________ industry is an industry that is experiencing significant international sales.
Question options:

a)     global


b)     mature


c)     fragmented


d)     declining

Question 7        5 / 5 points
Once a firm decides to enter an industry and chooses a market in which to compete, it must gain an understanding of its competitive environment. This challenge can be undertaken by completing a(n) ________ analysis.
Question options:

a)     business


b)     industry


c)     competitor


d)     strategic

Question 8        5 / 5 points
Melanie Summer spoke to an investor who is interested in her business idea. Melanie offered to send the investor a copy of her full business plan, but the investor asked for a short overview of the business plan instead. What portion of her business plan should Melanie send the investor?
Question options:

a)     Marketing plan


b)     Executive summary


c)     Elevator pitch


d)     Company description

Question 9        5 / 5 points
Industries that sell products to seniors, such as the eyeglass industry and the hearing aid industry, are benefiting from the aging of the population, which is an important ________ trend.
Question options:

a)     environmental


b)     business


c)     commerce


d)     competitive

Question 10        5 / 5 points
The two most common strategies pursued by firms in global industries are the ________ strategy and the ________ strategy.
Question options:

a)     inclusive; multidomestic


b)     multidomestic; global


c)     multidomestic; worldwide


d)     inclusive; global

Question 11        5 / 5 points
The price of prescription medicine is high, partly because when someone is sick there is no real alternative to buying medicine if they want to get better. Which of Porter's five forces explains how this aspect of the prescription medicine industry helps keep profitability high?
Question options:

a)     Rivalry among existing firms


b)     Threat of new entrants


c)     Threat of substitutes


d)     Bargaining power of buyers

Question 12        5 / 5 points
In the context of competitor analysis, ________ competitors offer close substitutes to the product sold by the firm completing the analysis.
Question options:

a)     potential


b)     direct


c)     indirect


d)     impending

Question 13        5 / 5 points
Opportunities for leadership, niche, harvest and divestment are associated with ________ industries.
Question options:

a)     mature


b)     emerging


c)     declining


d)     fragmented

Question 14        5 / 5 points
Which of Porter's five forces is most closely associated with the concept "barrier to entry"?
Question options:

a)     Bargaining power of suppliers


b)     Rivalry among existing firms


c)     Threat of new entrants


d)     Bargaining power of buyers

Question 15        5 / 5 points
A(n) ________ business plan, which is typically 25 to 35 pages long, works best for new ventures who are at the point where they need funding or financing.
Question options:

a)     tactical


b)     strategic


c)     summary


d)     full

Question 16        5 / 5 points
Many firms benefit from an increasing ability to outsource manufacturing or service functions to lower-cost foreign countries. This trend is referred to in the textbook as a(n) ________ trend.
Question options:

a)     business


b)     environmental


c)     commerce


d)     economic

Question 17        5 / 5 points
Which of the following is NOT one of the "red flags" listed in the textbook that raises questions about one of more aspects of a company's business plan?
Question options:

a)     Founders with none of their own money at risk


b)     Defining the market size too narrowly


c)     A poorly cited plan


d)     Sloppiness in any area

Question 18        5 / 5 points
Each quarter, Craig Anderson, who owns a chain of auto repair shops, does a detailed analysis of his firm's competitors. This analysis is called ________ analysis.
Question options:

a)     competitor


b)     challenger


c)     strategic


d)     participant

Question 19        5 / 5 points
Industry structure refers to how ________ an industry is.
Question options:

a)     concentrated or fragmented


b)     traditional or progressive


c)     innovative or conservative


d)     hierarchical or flat

Question 20        5 / 5 points
Which of the following is one of the "red flags" listed in the textbook that raises questions about one or more aspects of a company's business plan?
Question options:

a)     Takes several days or weeks to complete


b)     Founders that have their own money at risk


c)     Defining the market size too broadly


d)     Less than 50 pages long

BZ450 Lesson 2 Exam SCORE 100 PERCENT...ob

Question 1        5 / 5 points
Jamie Finch is crafting the business model for her fashion design firm. She just completed the section that describes how her firm plans to compete relative to her rivals. Jamie just completed the ________ portion of her business model template.
Question options:

a)     operations


b)     core strategy


c)     resources


d)     strategic plan

Question 2        5 / 5 points
________ feasibility analysis is conducted to determine whether a proposed business has sufficient management expertise, organizational competence, and resources to successfully launch its business.
Question options:

a)     Industry/market


b)     Institutional


c)     Financial


d)     Organizational

Question 3        5 / 5 points
Nathan Green is starting a firm in the organic produce industry. Nathan has developed a statement-"Helping Make Your Life Better, Healthier, and Fuller"-that describes the reason his company exists and what his business model is supposed to accomplish. In the terminology used in the Barringer/Ireland Business Model Template, Nathan's statement is referred to as his ________ statement.
Question options:

a)     values


b)     uniqueness


c)     differentiation


d)     mission

Question 4        5 / 5 points
Erin Hill is working on the box in the Barringer/Ireland Business Model Template that defines the products and markets on which her firm will concentrate. Erin is working on the ______ scope portion of the business model template.
Question options:

a)     offering/market


b)     offering/industry


c)     business/market


d)     product/market

Question 5        5 / 5 points
A(n) ________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.
Question options:

a)     concept test


b)     product/service statement


c)     impression test


d)     idea prospectus

Question 6        5 / 5 points
Which of the following issues should be considered in industry/target market feasibility analysis?
Question options:

a)     Gaps in the marketplace


b)     Financial performance of similar businesses


c)     Resource sufficiency


d)     Industry attractiveness

Question 7        5 / 5 points
Which of the following is NOT one of the four major categories in the Barringer/Ireland Business Model Template?
Question options:

a)     Operations


b)     Resources


c)     Channels


d)     Core strategy

Question 8        5 / 5 points
A(n) ________ team is the group of founders, key employees, and advisers that either manage or help manage a new business in its startup years.
Question options:

a)     opening


b)     entrepreneurial


c)     new venture


d)     launch

Question 9        5 / 5 points
Which of the following statements about business models is incorrect?
Question options:

a)     There are two general types of business models.


b)     There is no perfect business model.


c)     Most of the standard business models have been in place for some time.


d)     A firm's business model is confined to its own boundaries.

Question 10        5 / 5 points
In the Barringer/Ireland Business Model Template, key assets can be:
Question options:

a)     fixed, situational, variable, and permanent.


b)     tactical, strategic, fixed, and variable.


c)     tangible, intangible, variable, and fixed.


d)     physical, financial, intellectual, or human.

Question 11        5 / 5 points
The focus in organizational feasibility analysis is on:
Question options:

a)     financial resources for manufacturing firms and nonfinancial resources for service firms.


b)     financial resources for service firms and nonfinancial resources for manufacturing firms.


c)     nonfinancial and financial resources equally.


d)     nonfinancial resources.

Question 12        5 / 5 points
The two components of product/service feasibility analysis are ________ and ________.
Question options:

a)     product/service value; product/service affordability


b)     product/service demand; product/service timeliness


c)     product/service timeliness; product/service value


d)     product/service desirability; product/service demand

Question 13        5 / 5 points
________ business models depict existing plans or recipes firms can use to determine how they will create, deliver, and capture value for their stakeholders.
Question options:

a)     Revolutionary


b)     Normal


c)     Customary


d)     Standard

Question 14        5 / 5 points
Which of the following is NOT a part of assessing the product/service feasibility of a business idea?
Question options:

a)     "Get out of the building" and talk to potential customers


b)     Surveying potential customers


c)     Library research


d)     Analyzing industry attractiveness

Question 15        5 / 5 points
________ feasibility is an assessment of the overall appeal of the product or service being proposed.
Question options:

a)     Consumer


b)     Industry/market segment


c)     Industry/market


d)     Product/service

Question 16        5 / 5 points
Tyler Smith founded a firm that has a subscription-based business model. Although Tyler has averaged 600 new subscribers per month, she also loses 450 subscribers per month. The number of subscribers that Tyler loses each month is referred to as:
Question options:

a)     erosion.


b)     churn.


c)     destruction.


d)     attrition.

Question 17        5 / 5 points
Mintel, IBISWorld, and Bizminer are databases most likely to be used during the ________ feasibility stage of the feasibility analysis process.
Question options:

a)     organizational


b)     economic


c)     political/legal


d)     industry/target market

Question 18        5 / 5 points
In the Barringer/Ireland Business Model Template, a(n) ________ is a specific factor or capability that supports a firm's business model and sets it apart from its rivals.
Question options:

a)     primary capability


b)     core competency


c)     essential asset


d)     staple proficiency

Question 19        5 / 5 points
Which of the following is NOT an attribute of an attractive industry?
Question options:

a)     Is young rather than old


b)     Is not crowded


c)     Is late rather than early in its life cycle


d)     Is important to the customer

Question 20        5 / 5 points
The four major categories in the Barringer/Ireland Business Model Template are:
Question options:

a)     core strategy, resources, financials, and operations.


b)     core strategy, value proposition, customers and channels.


c)     value proposition, resources, customers and partners.


d)     activities, partners, customers, and competitors.

BZ450 Lesson 1 Exam SCORE 100 PERCENT.....objective

Question 1        5 / 5 points
Colorado Sandwich, Soup and Salad is a casual dining restaurant that has been owned by Stephanie Peterson for the past 14 years. The restaurant offers a menu that is typical for casual dining restaurants and affords Stephanie a level of income that is similar to what she would earn in a conventional job. According to the textbook, Colorado Sandwich, Soup and Salad is an example of a(n) ________ firm.
Question options:

a)     salary-substitute


b)     entrepreneurial


c)     quality-of-life


d)     lifestyle

Question 2        5 / 5 points
Montana Sky Trails leads multiday outdoor adventure trips for private groups and corporate clients to various locations across Montana. The company was started by Justin Smith, an individual that gave up a prestigious job in banking because Montana Sky Trails better accommodates his personal lifestyle. Montana Sky Trails is an example of a(n) ________ firm.
Question options:

a)     entrepreneurial


b)     salary-substitute


c)     standard-of-living


d)     lifestyle

Question 3        5 / 5 points
The number one characteristic shared by successful entrepreneurs is:
Question options:

a)     a desire to achieve financial rewards.


b)     a passion for the business.


c)     a desire to employ other people.


d)     a desire to fulfill a lifetime dream.

Question 4        5 / 5 points
Casey Griggs is a very capable computer engineer. Recently, he noticed a problem that computer engineers have and thought of a solution to the problem that might represent an opportunity for a new software product. Casey's idea for a new software product is an example of a ________ discovery.
Question options:

a)     chance


b)     serendipitous


c)     traditional


d)     conventional

Question 5        5 / 5 points
Which of the following statements regarding survival rates of entrepreneurial firms in the United States is correct?
Question options:

a)     As high as 50 percent after four years


b)     As high as 60 percent after four years


c)     As high as 70 percent after four years


d)     As high as 80 percent after four years

Question 6        5 / 5 points
A(n) ________ is a favorable set of circumstances that creates a need for a new product, service, or business.
Question options:

a)     idea


b)     opportunity


c)     design


d)     proposal

Question 7        5 / 5 points
A common way that gaps in the marketplace are recognized is:
Question options:

a)     by observing changing environmental trends.


b)     by recognizing problems that need to be solved.


c)     via studying industry reports.


d)     when people become frustrated because they can't find a product or service that they need and recognize that other people feel the same way.

Question 8        5 / 5 points
An opportunity has which four essential qualities?
Question options:

a)     attractive; timely; durable; and anchored in a product, service, or business that creates or adds value for its buyer or end user


b)     practical; opportune; appropriate; and anchored in a product, service, or business that is efficient and effective


c)     realistic; striking; timely; and anchored in a product, service, or business that is timely


d)     attention-getting; attractive; timely; and anchored in a product, service, or business that creates or adds value for its buyer or end user

Question 9        5 / 5 points
Economic forces impact the opportunities available to entrepreneurs. Which of the following alternatives reflects a set of economic forces that would be of interest to entrepreneurs?
Question options:

a)     Level of disposable income, new uses of old technologies, and new laws and regulations


b)     New technologies, consumer spending patterns, and new laws


c)     Interest rates, consumer spending patterns, and level of disposable income


d)     Social and cultural trends, level of interest rates, and what people think is "in"

Question 10        5 / 5 points
Which of the following is NOT an example of a social force?
Question options:

a)     Changes in interest rates


b)     Increasing participation in social networks


c)     Increasing diversity of the workplace


d)     Aging of the population

Question 11        5 / 5 points
The three ways to identify an opportunity include:
Question options:

a)     observing trends, solving a problem, and finding gaps in the marketplace.


b)     studying industry trade journals, talking to consumers, and solving a problem.


c)     observing trends, conducting brainstorming sessions, and studying industry trade journals.


d)     observing trends, talking to consumers, and finding gaps in the marketplace.

Question 12        5 / 5 points
A(n) ________ is a favorable set of circumstances that creates the need for a new product, service, or business. A(n) ________ is a thought, an impression, or a notion.
Question options:

a)     scheme; notion


b)     opportunity; idea


c)     idea; design


d)     idea; opportunity

Question 13        5 / 5 points
In 2000, TishCirovolo realized that there were no guitars on the market made specifically for women. As a result, she started Daisy Rock Guitars, a company that makes guitars just for women. Daisy Rock Guitars are stylish and come in feminine colors, and incorporate design features that accommodate a woman's smaller hand and build. The best way to describe how Cirovolo's business idea was recognized is:
Question options:

a)     brainstorming.


b)     talking to consumers.


c)     finding a gap in the marketplace.


d)     observing trends.

Question 14        5 / 5 points
Google is a firm that is proactive, innovative and risk-taking. From this description, we can most accurately conclude that Google has a high level of:
Question options:

a)     enterprise focus.


b)     innovative intensity.


c)     entrepreneurial intensity.


d)     creative intensity.

Question 15        5 / 5 points
Stacey Wills, who is at heart a craftsperson, recently started a firm to manufacture a new innovative food blender. Stacey's desire is to sell her food blender to as many people as possible because she firmly believes in the merits of her product. Stacey's story best illustrates which of the following characteristics, or attributes, of a successful entrepreneur?
Question options:

a)     Product/customer focus


b)     Execution intelligence


c)     Tenacity despite failure


d)     A desire to please consumers

Question 16        5 / 5 points
Brad Johnson is starting an upscale men's clothing store in a mall near Seattle. He wants to open his store during the time period in which a business like his can realistically enter the new market. Brad is trying to open his business while the ________ is open.
Question options:

a)     safe harbor


b)     window of opportunity


c)     portal of entry


d)     doorway of opportunity

Question 17        5 / 5 points
________ is the process of creating something new, which is central to the entrepreneurial process.
Question options:

a)     Creative destruction


b)     Modernism


c)     Innovation


d)     Creativity

Question 18        5 / 5 points
An event that prompts an individual to become an entrepreneur, such as losing a job, inheriting money, or accommodating a certain lifestyle, is referred to as a(n):
Question options:

a)     prompting event.


b)     entrepreneurial prompt.


c)     initiating event.


d)     triggering event.

Question 19        5 / 5 points
According to the Global Entrepreneurship Monitor (GEM) 2013 survey, about ________ percent of adults in the United States are either starting a business or are running a business that has been in existence for less than 3 1/2 years.
Question options:

a)     12.7


b)     5.5


c)     9.0


d)     7.6

Question 20        5 / 5 points
Jessica Smith is thinking about starting a chain of fitness centers for young adults ages 18-30. Which of the following is NOT an appropriate criterion for Jessica to test her idea against?
Question options:

a)     Determine whether the "window of opportunity" is open.


b)     Determine whether a fitness center for young adults ages 18-30 meets the threshold of being a good idea.


c)     Determine the extent to which the notion takes advantage of an environmental trend, solves a problem, or fills a gap in the marketplace.


d)     Determine whether opening a fitness center for young adults ages 18-30 is timely.

BZ450 Assignment 08......management...

Directions: Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be four (4) pages in length; refer to the "Assignment Format" page for specific format requirements.

1. What are the four (4) primary day-to-day challenges involved with growing a firm? Briefly describe each challenge.

2. Describe the term "liability of newness" and suggest several ways that a new venture can overcome this handicap.

3. What is intellectual property? Why is it called "intellectual" property? Why is intellectual property such an important issue for entrepreneurial firms?

4. Identify and briefly describe the three types of patents. Include an example of each.

BZ450 Assignment 04.....managment...

Directions: Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be four (4) pages in length; refer to the "Assignment Format" page for specific format requirements.

1. What is a founders' agreement? Describe the purpose of a buyback clause and why it's important.

2. Discuss three main reasons people decide to become entrepreneurs and four main characteristics of successful entrepreneurs.

3. Explain what a feasibility analysis is, its purpose, and the two primary issues to consider when completing this analysis.

4. Explain what an industry/market feasibility analysis is, its purpose, and the two primary issues to consider when completing this analysis.

BZ440 Lesson 2 Esam SCORE 95 PERCENT.....man

Question 1
__________ refers to the values that are subscribed to and fostered by society in general and by individuals within society.
Question options:

a)     Ethics


b)     Maslow's Hierarchy of Needs


c)     Morality


d)     Social responsibility

Question 2
Managers can play a role in promoting ethical behavior on the job by:
Question options:

a)     maintaining sound financial standards.


b)     implementing total quality.


c)     ensuring customer satisfaction.


d)     developing written ethics guidelines.

Question 3
Which one of the following is NOT a category of competitive strategy?
Question options:

a)     Cost leadership


b)     Product positioning


c)     Market-niche


d)     Differentiation

Question 4
__________ is a balanced approach for organizations to address economic, social, and environmental issues in a way that aims to benefit people, communities, and society.
Question options:

a)     Best-ratio ethics


b)     Corporate social responsibility


c)     Full-potential ethics


d)     The balanced scorecard

Question 5
The firm's __________ establish the framework which will define(s) its attitudes and policies for all employees.
Question options:

a)     mission


b)     vision


c)     values or guiding principles


d)     strategy

Question 6
Which of the following statements does NOT apply when developing a mission statement?
Question options:

a)     Include the how-to statements


b)     Describe the "who, what, and where" of the organization


c)     Be brief, but comprehensive


d)     Choose wording that is simple

Question 7
From a __________ perspective, resources are wasted unless they contribute to success in the marketplace, and the more direct the contribution, the better.
Question options:

a)     global economic


b)     customer service


c)     strategic manager's


d)     world-class manufacturing

Question 8
The firm's __________ describe(s) where the organization is headed.
Question options:

a)     mission


b)     vision


c)     values or guiding principles


d)     strategy

Question 9
When handling an ethical dilemma, managers should select the option that will most likely:
Question options:

a)     pass the various ethics tests.


b)     build strength in the organization.


c)     adopt a black-and-white approach.


d)     cause the least amount of conflict.

Question 10
The __________ approach to ethics is a pragmatic approach based on the belief that people are basically good.
Question options:

a)     best-ratio


b)     black-and-white


c)     full-potential


d)     morally responsible

Question 11
Values that lead to ethical behavior include fairness, honesty, truthfulness, and:
Question options:

a)     contribution.


b)     self-development.


c)     dependability.


d)     quality performance.

Question 12
Existing literature generally agrees on three dimensions of sustainability. Which of the following is NOT one of them?
Question options:

a)     Operational


b)     Economic


c)     Social


d)     Environmental

Question 13
Which of the following is NOT one of the elements of total quality that depend on trust?
Question options:

a)     Employee involvement


b)     Training


c)     Problem solving


d)     Conflict management

Question 14
The __________ consists of the specific tactics, projects, and activities for achieving broad strategic objectives.
Question options:

a)     action plan


b)     strategic plan


c)     SWOT analysis


d)     business model

Question 15
When providing ethics training, it is important to:
Question options:

a)     facilitate, don't preach.


b)     stimulate discussion.


c)     highlight practical applications.


d)     All of the above are important.

Question 16
An __________ is any characteristic or capability that puts the organization at a competitive disadvantage.
Question options:

a)     external threat


b)     internal threat


c)     environmental weakness


d)     organizational weakness

Question 17
An organization's responsibilities for ensuring ethical behavior include:
Question options:

a)     paying whistleblowers to speak up.


b)     creating an ethical environment.


c)     establishing in-house courts and juries.


d)     refusing to talk to the media.

Question 18
One of the best ways managers can help build trust is to:
Question options:

a)     ensure that organizational guidelines are followed.


b)     protect the interests of those who are not present at the time as if they were.


c)     promote responsibility and total quality expectations.


d)     demonstrate integrity and ethical behavior.

Question 19
To promote successful execution of strategies, organizations should undertake which of the following strategies?
Question options:

a)     Eliminate administrative barriers


b)     Conduct a secondary SWOT analysis


c)     Hold a stakeholder's gap analysis


d)     Contract with an execution specialist

Question 20
The concepts of trust, integrity, and __________ are part of the value system of total quality.
Question options:

a)     morality


b)     responsibility





c)     vision


d)     legality

BZ440 Exam 8 SCORE 90 PERCENT.......management

Lesson 8 Exam
Question 1
The most common inhibitor of SPC is:
Question options:

a)     inadequate training.


b)     lack of resources resulting from the absence of management commitment.


c)     failure to have processes under control.


d)     low production rates.

Question 2
The origin of what is now called ________ dates back to a book written by Dr. Walter Shewhart in 1931.
Question options:

a)     quality engineering


b)     compliance management


c)     statistical process control


d)     QFD

Question 3
In the language of scientific decision making, ________is/are introduced when improvements are not based on the scientific approach.
Question options:

a)     complexity


b)     variation


c)     inefficiency


d)     None of the above

Question 4
Re-engineering is an appropriate replacement for benchmarking when:
Question options:

a)     tour process is fairly strong relative to best-in-class.


b)     the best-in-class is not in your industry.


c)     your process is not in statistical control, i.e., is unstable.


d)     best-in-class is unwilling to cooperate.

Question 5
The rationale for western manufacturers to embrace SPC is:
Question options:

a)     to improve product quality and simultaneously reduce costs.


b)     to be able to compete better with Japan and the world's markets.


c)     to improve their product image.


d)     All of the above

Question 6
The __________ phase of DMAIC focuses on why defects, errors, or excessive variation occurs.
Question options:

a)     Define


b)     Measure


c)     Analyze


d)     Control

Question 7
When benchmarking, it is not enough to understand the processes; they must be completely:
Question options:

a)     analyzed.


b)     tested.


c)     documented.


d)     integrated.

Question 8
One of the roles of management in benchmarking is:
Question options:

a)     establishing relationships.


b)     disclosure.


c)     data collection.


d)     action planning.

Question 9
Which of the following is NOT a measure in TOC?
Question options:

a)     Establishing the goal


b)     Making the investment


c)     Operating expenses


d)     Throughput

Question 10
Six Sigma can only be achieved through:
Question options:

a)     hiring new staff.


b)     process improvement.


c)     creating a new mission statement.


d)     cutting costs.

Question 11
The __________ is used to chart the number of defects in samples of varying size as a percentage or fraction. Example: anywhere defects can be counted.
Question options:

a)     p-chart


b)     np-chart


c)     c-chart


d)     u-chart

Question 12
Which of the following behaviors best describe the concept of benchmarking?
Question options:

a)     Unethical


b)     Illegal


c)     Industrial espionage


d)     None of the above

Question 13
One of the three phases of benchmarking is:
Question options:

a)     conclusion.


b)     post-execution.


c)     reporting.


d)     modification.

Question 14
In which phase of the DMAIC process might FMEA be used?
Question options:

a)     Define


b)     Measure


c)     Analyze


d)     Control

Question 15
Several benchmarking considerations require management's approval before the process can start: commitment to change, funding, personnel, disclosure, and:
Question options:

a)     oversight.


b)     Direction.


c)     involvement.


d)     Direct supervision.

Question 16
Six Sigma process performance:
Question options:

a)     represents a major advance in capability over the typical.


b)     has yet to be achieved in actual practice.


c)     predicts 1 nonconformance in 500 million opportunities.


d)     is useful only in large scale manufacturing.

Question 17
The JIT/LEAN/Lean "pull" system ensures that:
Question options:

a)     costs are minimized through "economy of scale."


b)     the production line will never stop because of a problem.


c)     buffer stocks are on hand to prevent line stoppage when a critical machine fails.


d)     the internal supplier process does not build product unless told to do so by the internal customer process.

Question 18
To continually improve a process, all people involved in its operation must be using the same:
Question options:

a)     documentation methods.


b)     analysis techniques.


c)     problem-solving tools.


d)     procedures.

Question 19
Lean is based on the manufacturing system that was developed by:
Question options:

a)     Motorola.


b)     Toyota.


c)     Goldratt.


d)     IBM.

Question 20
_________ approaches improvement projects in three successive phases, applying TOC, Lean, and then Six Sigma tools.
Question options:

a)     The iTLS model


b)     Kaizen


c)     CEDAC


d)     SIPOC