1. Value can be defined as:

fitness for use.

quality relative to price.

least cost benefit.

conformance to specifications.

2. The competitive advantage resulting from an organization's people can drive low cost and differentiation.

True

False

3. With respect to the dimensions of product design, _____ is the amount of use one gets from a product before it physically deteriorates or until replacement is preferable.

reliability

aesthetics

durability

performance

4. With which of the following would Frederick W. Taylor most likely have agreed?

A factory depends on workers, and hence cannot be managed on a scientific basis.

Planning should be separated from execution as workers lack the education necessary to plan.

Workers are all of equal ability and cannot be trained to improve their work habits.

Piecework initiatives are ineffective methods of organizing work in large factories.

5. Core competence is the process by which the members of an organization envision its future and develop the necessary procedures and operations to carry out that vision.

True

False