BIT 3414 exam 1 QUESTIONS &
ANSWERS RATED A+ PASSED
CHAPTER 1 - CORRECT ANSWER ✔✔CHAPTER 1
operations management - CORRECT ANSWER ✔✔designs, operates, and improves productive
systems
operations - CORRECT ANSWER ✔✔transforms raw materials or inputs into goods and services
value chain - CORRECT ANSWER ✔✔The set of activities through which a product or service is
created and delivered to customers.
supply chain management - CORRECT ANSWER ✔✔focuses on the input and output sides of the
transformation process. Flow of information, products, and services
four primary functional areas of a firm - CORRECT ANSWER ✔✔marketing, finance, operations,
HR
productivity - CORRECT ANSWER ✔✔calculated by dividing units of output by units of input
strategy - CORRECT ANSWER ✔✔how the mission of a company is accomplished
, 1. define a primary task
2. assess core competencies
3. determine order winners and order qualifiers
4. position the firm
5. deploy the strategy
primary task - CORRECT ANSWER ✔✔purpose of a firm. what the firm is in the business of
doing
core competency - CORRECT ANSWER ✔✔what a firm does better than anyone else. could be
exceptional service, higher quality, faster delivery, lower cost
order qualifiers - CORRECT ANSWER ✔✔characteristics of a product or service that qualify it to
be considered for purchase by a customer
strategic positioning - CORRECT ANSWER ✔✔involves selecting a strategy or purpose that
distinguishes the organization from its competitors
policy deployment (hoshin planning) - CORRECT ANSWER ✔✔focus on everyone in an
organization on common goals and priorities by translating corporate strategy into measurable
objectives throughout various functions and levels of the organization
balanced scorecard - CORRECT ANSWER ✔✔1. finances
2. customers
3. processes
4. learning and growing
ANSWERS RATED A+ PASSED
CHAPTER 1 - CORRECT ANSWER ✔✔CHAPTER 1
operations management - CORRECT ANSWER ✔✔designs, operates, and improves productive
systems
operations - CORRECT ANSWER ✔✔transforms raw materials or inputs into goods and services
value chain - CORRECT ANSWER ✔✔The set of activities through which a product or service is
created and delivered to customers.
supply chain management - CORRECT ANSWER ✔✔focuses on the input and output sides of the
transformation process. Flow of information, products, and services
four primary functional areas of a firm - CORRECT ANSWER ✔✔marketing, finance, operations,
HR
productivity - CORRECT ANSWER ✔✔calculated by dividing units of output by units of input
strategy - CORRECT ANSWER ✔✔how the mission of a company is accomplished
, 1. define a primary task
2. assess core competencies
3. determine order winners and order qualifiers
4. position the firm
5. deploy the strategy
primary task - CORRECT ANSWER ✔✔purpose of a firm. what the firm is in the business of
doing
core competency - CORRECT ANSWER ✔✔what a firm does better than anyone else. could be
exceptional service, higher quality, faster delivery, lower cost
order qualifiers - CORRECT ANSWER ✔✔characteristics of a product or service that qualify it to
be considered for purchase by a customer
strategic positioning - CORRECT ANSWER ✔✔involves selecting a strategy or purpose that
distinguishes the organization from its competitors
policy deployment (hoshin planning) - CORRECT ANSWER ✔✔focus on everyone in an
organization on common goals and priorities by translating corporate strategy into measurable
objectives throughout various functions and levels of the organization
balanced scorecard - CORRECT ANSWER ✔✔1. finances
2. customers
3. processes
4. learning and growing
