LOMA 335 MODULE 1 UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

LOMA 335 MODULE 1 UPDATED ACTUAL QUESTIONS
AND CORRECT ANSWERS
Question:
LOMA 335: MODULE 1 UPDATED
CORRECT ANSWERS
A part of an industry comprised of organizations
broader industry.
Choice
1




Answer:
ACTUAL QUESTIONS AND
carrying out a similar function within the
Sociocultural Sector
2

, Question:
Functional Management
Answer:
Process of providing planning and organizing within a given area of specialization,
along with ensuring that the units activities full support the company's established
strategic direction.

Question:
Operations Management
Answer:
Process of carrying out the organization's day-to-day activities, emphasizing the
management functions of directing and controlling.

Question:
A model which companies can use for analyzing which company functions
contribute directly to a company's competitive position.
Answer:
The Value Chain

Question:
Transformative System
Answer:
System for transforming or converting resource inputs
(capital/investment/labor/sales) and converting them to product and service
outputs that increase value for company's owners (investment growth, satisfied
customers).

Question:
Value-added Function
Answer:
A function that has the effect of increasing the amount of money customers pay to
the company.

Question:
Transactional Work
Answer:
Work typically dedicated for setting work priorities and processing transactions.
Workers engage on in a limited range of customer interactions have very little
need for specialized knowledge.

Question:
Transitional Work
Answer:
Work that consists of performing routine tasks and additional requires workers to
hold important knowledge in a specific area.

Question: