Which of the Following Statements Is True of Mass Customization

question 39

Multiple Choice

Which of the following statements is true of mass customization?

• A)It is the best option when products need to be customized from start to end.
• B)It works best if a product can be broken into modules that offer different features.
• C)It does not need the additional costs of creating need-specific components.
• D)It does not require standard core components to be produced in large scale.

Identify and explain the forces of competition within industries.

Distinguish between business plans and strategic plans and their purposes.

Recognize the significance of a mission statement in business.

Analyze the concept and sustainability of competitive advantage.

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Definitions:

Purchase Price Variances

The difference between the actual cost of goods purchased and the standard cost, used to measure the efficiency of the purchasing function.

Standard Cost

A predetermined cost of manufacturing, selling, or any other business operation, used for budgeting and performance evaluation.

Nonfinancial Performance Measures

Indicators used to assess aspects of a company's operations that do not directly relate to financial outcomes, such as customer satisfaction or employee turnover.

Standard Direct Materials

The predetermined cost and quantity of materials required for the production of goods, used in budgeting and costing.