1.) Michael Porter a management strategy expert developed a strategic framework in which a firm has ways to develop a competitive advantage. Which of the following is one of the ways Porter suggested a firm use to develop a competitive advantage? A.) Supply chain management B.) Low cost production C.) Just in time management D.) None of the answers are correct

2.) Which of the following is not a tool for monitoring strategic performance A.) The balanced scorecard B.) Code of Conduct C.) Supply chain management D.) Enterprise Resource Planning (ERP) systems

3.) Just in time inventory management is an inventory strategy that focuses on A.) Performance measures B.) Reducing waste and inefficiency

Chapter 2 1.) Assume you are planning a spring break ski trip to Colorod. You are preparing a budget of your costs. You are staying at a lode that has a special whre the ledge charges you $2 for each ski lif ride. You believe you will ride the ski lift 40 times during the week, so you budget $80. The ski lift change is an example of
A.) Fixed Cost
B. )Variable Cost
c) mixed cost
d.) step cost

2.) AS the level of activity increases, the total variable cost A.) increases proportionally B.) b changes inversely C.) changes conversely D.) remains the same

3.) You are considering moving off campus you have found a two bedroom apartment for 1200 per month but you cannot afford that much rent. You are considering inviting up to 3 of your friends to become your roommates .. the relationship between the number of your roommates, the total cost is a A. fixed cost B. variable cost C. mixed cost D. step cost

4.) Assume a scatter graph shows $500 at no activity and $2500 at an activity level of 1000 units. The variable cost per unit is
A.) $2
b.) 1.40
c.)2.50
d.)5.00
500$