MGT 314 Final Exam Questions With
Accurate Answers
Reasons to study Operations Management include - ANSWER -studying why
people organize themselves for productive enterprise
-knowing how goods & services are consumed
-understanding what human resource managers do
-learning about a costly part of the enterprise
Forecasts are usually classified by time horizon into three categories: - ANSWER
short-range, medium-range & long-range
An operations manager's ethical responsibilities - ANSWER extends from
developing products, to production, to honoring stakeholders commitments
How many different steps are involved in forecasting? - ANSWER seven (7)
Manufacturing organizations have 10 strategic OM decisions, while service
organization have only eight - ANSWER FALSE
The three factors critical to productivity improvement are labor, capital, and the
art and science of management - ANSWER TRUE
Key Success Factors are those activities that are key to achieving competitive
advantage - ANSWER TRUE
Seasonal variations deals with regular upward or downward movement in a time
series that ties to recurring events such as holidays, passing of seasons, or the
school year - ANSWER TRUE
Operations management is part of a production system consisting of inputs --
processing/trasnforming --outputs. Which of the following examples accurately
depicts this production system? - ANSWER Furniture manufacturer: wood --
sanding -- chair
Which of the following would not be an operations function in a fast-food
restaurant? - ANSWER Advertising & promotion (marketing function)
The creation of a unique advantage over competitors is called a Competitive
Advantage - ANSWER TRUE
, The operations manager performs the management activities of planning,
organizing, staffing, leading, and controlling of the OM function. - ANSWER
TRUE
Time Series is defined as - ANSWER a set of historical data organized by time
period that is used to forecast
What two numbers are contained in the daily report to managers of Walt Disney
Parks & Resorts regarding the six Orlando parks? - ANSWER yesterday's
forecasted attendance and yesterday's actual attendance
Many service organizations maintain records of sales noting - ANSWER the day
of the week, unusual events, weather, holidays
The Strategy is the action plan of how an organization expects to achieve its
mission and goals - ANSWER TRUE
Which of the following is not an element of the management process? - ANSWER
Pricing
The five elements in the management process are - ANSWER plan, organize,
staff, lead, and control
Henry Ford designed his first moving assembly line in 1925, and revolutionized
the manufacturing processes of his Ford Model T - ANSWER FALSE, it was in
1913
Core competencies are a set of skills, talents, and activities that a firm does
particularly well - ANSWER TRUE
Most forecasting techniques assume that there is some underlying stability in
the system - ANSWER TRUE
Southwest Airlines uses which of the following as a Competitive Advantage? -
ANSWER automated ticketing machines, no seat assignments, no baggage
transfers, no meals
The Ten Critical Decisions of Operations Management include - ANSWER
Product, Quality, Process, Location, Layout, Human Resources, Supply Chain,
Inventory, Schedule, Maintenance
A Forecasted Average forecast uses an average of the most recent periods of
data to forecast the next period - ANSWER FALSE, A moving averages forecast
uses this technique
Accurate Answers
Reasons to study Operations Management include - ANSWER -studying why
people organize themselves for productive enterprise
-knowing how goods & services are consumed
-understanding what human resource managers do
-learning about a costly part of the enterprise
Forecasts are usually classified by time horizon into three categories: - ANSWER
short-range, medium-range & long-range
An operations manager's ethical responsibilities - ANSWER extends from
developing products, to production, to honoring stakeholders commitments
How many different steps are involved in forecasting? - ANSWER seven (7)
Manufacturing organizations have 10 strategic OM decisions, while service
organization have only eight - ANSWER FALSE
The three factors critical to productivity improvement are labor, capital, and the
art and science of management - ANSWER TRUE
Key Success Factors are those activities that are key to achieving competitive
advantage - ANSWER TRUE
Seasonal variations deals with regular upward or downward movement in a time
series that ties to recurring events such as holidays, passing of seasons, or the
school year - ANSWER TRUE
Operations management is part of a production system consisting of inputs --
processing/trasnforming --outputs. Which of the following examples accurately
depicts this production system? - ANSWER Furniture manufacturer: wood --
sanding -- chair
Which of the following would not be an operations function in a fast-food
restaurant? - ANSWER Advertising & promotion (marketing function)
The creation of a unique advantage over competitors is called a Competitive
Advantage - ANSWER TRUE
, The operations manager performs the management activities of planning,
organizing, staffing, leading, and controlling of the OM function. - ANSWER
TRUE
Time Series is defined as - ANSWER a set of historical data organized by time
period that is used to forecast
What two numbers are contained in the daily report to managers of Walt Disney
Parks & Resorts regarding the six Orlando parks? - ANSWER yesterday's
forecasted attendance and yesterday's actual attendance
Many service organizations maintain records of sales noting - ANSWER the day
of the week, unusual events, weather, holidays
The Strategy is the action plan of how an organization expects to achieve its
mission and goals - ANSWER TRUE
Which of the following is not an element of the management process? - ANSWER
Pricing
The five elements in the management process are - ANSWER plan, organize,
staff, lead, and control
Henry Ford designed his first moving assembly line in 1925, and revolutionized
the manufacturing processes of his Ford Model T - ANSWER FALSE, it was in
1913
Core competencies are a set of skills, talents, and activities that a firm does
particularly well - ANSWER TRUE
Most forecasting techniques assume that there is some underlying stability in
the system - ANSWER TRUE
Southwest Airlines uses which of the following as a Competitive Advantage? -
ANSWER automated ticketing machines, no seat assignments, no baggage
transfers, no meals
The Ten Critical Decisions of Operations Management include - ANSWER
Product, Quality, Process, Location, Layout, Human Resources, Supply Chain,
Inventory, Schedule, Maintenance
A Forecasted Average forecast uses an average of the most recent periods of
data to forecast the next period - ANSWER FALSE, A moving averages forecast
uses this technique
