1. Operations Strategy

Competitive Priorities — Quiz

Test your understanding of competitive priorities with 5 practice questions.

Practice Questions

Question 1

Which competitive priority is primarily concerned with minimizing the variability of process outputs to consistently meet customer specifications?

Question 2

A firm invests \200{,}000 in R&D for a new product and realizes additional revenue of \800{,}000. What is the return on investment (ROI) for the innovation project?

Question 3

Which type of flexibility refers to a firm's ability to produce a variety of product models on the same equipment with minimal changeover time?

Question 4

If a production cycle time per unit is reduced from 5 hours to 3 hours, what is the percentage reduction in cycle time?

Question 5

When a company opts to purchase off-the-shelf software components instead of developing custom solutions, it is prioritizing cost over which competitive priority?