Quiz on Various Concepts

Vehicles, furniture, and dishwashers are examples of nondurable goods.

The higher the customer participation in service processes, the more certainty a firm has with respect to service time and capacity.

A process invariably resides within a department or traditional management function.

Proportional increases or decreases in the perceived benefits and the price of a product result in no net change in the value of the product.

In the context of the value chain model, fewer resources are needed to achieve performance goals when "information replaces assets."

Quality measures the degree to which the output of a process conforms to the management's expectations and requirements.

Performance measures should support customer requirements.

Actionable measures are not bound by time.

A strategy of quality improvement often leads to increased short-run profitability.

A small change in a firm's targeted markets or strategic direction usually has little impact on the value chain.