In This Question You Need to Match the Competitive Factor

question 47

Multiple Choice

In this question you need to match the competitive factor that customers value with the performance objective that the operation needs to excel at. If the customers value high quality then
The operation will need to excel at:

• A) Cost
• B) Quality
• C) Dependability
• D) Flexibility (mix)
• E) Flexibility (volume and/or delivery)
• F) Speed
• G) Flexibility (products/service)

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Definitions:

Availability Heuristic

A cognitive bias that causes people to overestimate the importance of information that is readily available to them.

Hindsight Bias

The tendency to believe, after learning an outcome, that one would have foreseen it, known also as the "I-knew-it-all-along" effect.

Confirmation Bias

The tendency to favor, interpret, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Representativeness Heuristic

A cognitive shortcut that involves judging the probability of an event by its similarity to a prototype or an example that comes to mind, rather than on objective probability.