An operations strategy is a$($n$)$:

A$)$ plan for cost reduction.

B$)$ set of opportunities in the marketplace.

C$)$ action plan to achieve the mission.

D$)$ broad statement of purpose.

E$)$ simulation used to test various product line options.

The ability of an organization to produce goods or services that have some uniqueness in their characteristics is:

A$)$ competing on differentiation.

B$)$ time$-$based competition.

C$)$ competing on productivity.

D$)$ competing on quality.

E$)$ mass production.

Response$-$based competitive advantage can be:

A$)$ quick response.

B$)$ reliable response.

C$)$ flexible response.

D$)$ all of the above.

E$)$ none of the above.

Cost minimization is an appropriate strategy in which stage of the product life cycle?

A$)$ growth

B$)$ retirement

C$)$ introduction

D$)$ adolescence

E$)$ decline

What theory implies that you should allow another firm to perform work activities for your company if that company can do it more productively than you can?

A$)$ theory of competitive advantage

B$)$ theory of comparative advantage

C$)$ theory of offshoring

D$)$ theory of core competencies

E$)$ theory of outsourcing

Which of the following is NOT one of the phases of project management?

A$)$ scheduling

B$)$ budgeting

C$)$ controlling

D$)$ planning

E$)$ All of the above are project management phases.