Is the gradual improvement and refinement of existing products over time as existing technologies are perfected?

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Level 113

Value-Chain Management: Functional Strategies for

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functional-level strategy

a plan of action to improve the ability of each of an organization's functions to perform task-specific activities in ways that add value to an organization's goods and services.

the collective activities that occur as a product moves from raw materials through production to final distribution; the disaggregation of value creation

the development of a set of functional level strategies that support a company's business-level strategy and strengthen it's competitive advantage.

Customer relationship management (CRM)

Software systems for organizing and tracking information of customers.

total quality management (TQM)

a management technique that focuses on improving the quality of an organization's products and services.

The holding or storage of raw materials, component parts, work in progress and finished goods

a technique used to improve quality by systematically improving the way value-chain activities are performed and then using statistical methods to measure how much improvement has been made.

the strategy of designing the machine-worker interface to increase operating system efficiency.

the set of techniques that attempt to reduce the costs associated with the product assembly process or the way services are delivered to customers.

the fundamental rethinking and radical redesign of business processes to achieve dramatic improvement in critical measures of performance such as cost, quality, service and speed.

quantum product innovation

the development of new, often radically different, kinds of goods and services because of fundamental shifts in technology brought about by pioneering discoveries.

incremental product innovation

the gradual improvement and refinement to existing products that occurs over time as existing technologies are perfected.

means developing improved products for current markets

stage-gate developmental funnel

a planning model that forces managers to make choices among competing projects so that organizational resources are not spread thinly over too many projects.

a plan that specifies all of the relevant information that managers need in order to decide whether to proceed with a full-blown product development effort.

a written agreement that details product development factors such as responsibilities, resource commitments, budgets, time lines, and development milestones.

the members of a team who bear primary responsibility for the success of a project and who stay with a project from inception to completion.

interacting with individuals and groups outside the organization to obtain valuable information from the environment.

deciding what information to allow into the organization and what information to keep out.

What is a Quantum product?

Which of the following is a potential outcome when organizations offer a very high level of responsiveness to customers quizlet?

Which of the following is the rationale behind the development of flexible manufacturing techniques?

Which statement best describes the materials management function of the value chain?