Exam 1 Mgsc 395 Updated Questions And Correct Answers

EXAM 1 MGSC 395 UPDATED QUESTIONS AND
CORRECT ANSWERS
Question:
1. Operations Management
Answer:
The systematic design, direction, and control of processes that transform inputs into services and
products for inter-nal, as well as external, customers.

Question:
2. Process
Answer:
Any activity or group of activities that takes one or more in-puts, transforms them, and provides one
or more outputs for its customers.

Question:
3. Service Processes
Answer:
Service:
- Intangible, perishable output
- Output cannot be inventoried
- High customer contact
- Short response time
- Labor intensive
- Quality not easily measured

Question:
4. Manufacturing Processes
Answer:
Manufacturing:
- Physical, durable output
- Output can be inventoried
- Low customer contact
- Long response time
- Capital intensive
- Quality easily measured

Question:
5. Operations strategy
Answer:
The means by which operations implements the firm's corporate strategy and helps to build a
customer-driven firm.

Question:
6. Which company is this?: Our mis-sion is to be Earth's most cus-tomer-centric company. ________
is guided by four principles:

,customer obsession rather than competitor focus, passion for in-vention, commitment to opera-tional
excellence, and long-term thinking.
Answer:
Amazon

Question:
7. Market analysis
Answer:
Understanding what the customers want and how to pro-vide it. (Market Segmentation and Needs
Assessment)

Question:
8. Competitive Priorities
Answer:
The critical dimensions that a process or supply chain must possess to satisfy its internal or external
customers, both now and in the future.

Question:
9. Competitive Capabilities
Answer:
The cost, quality, time, and flexibility dimensions that a process or supply chain actually possesses
and is able to deliver.

Question:
10. Order qualifiers
Answer:
Minimum level required from a set of criteria for a firm to do business in a particular market segment.

Question:
11. Order winners
Answer:
A criterion customers use to differentiate the services or products of one firm from those of another.
(Car example: Black rims. Professor B drives a Porsche)

Question:
12. You are interested in buying a laptop computer. Your list of con-siderations include the
comput-er's speed in processing data, its weight, screen size, and price. You consider a number of
dif-ferent models, and narrow your list based on speed and moni-tor screen size, then finally se-lect a
model to buy based on its weight and price. In this deci-sion, weight and price are exam-ples of:
Order qualifier or Order winner?
Answer:

Question:
13. Name Competitive Priorities
Answer:
1. Low-cost operations (Costco)
2. Top quality (Rolex)

, 3. Consistent quality (McDonald's)
4. Delivery speed (Netflix)
5. On-time delivery (UPS)
6. Development speed (Zara)
7. Customization (The Ritz-Carlton)
8. Variety (Amazon)
9. Volume flexibility (USPS)

Question:
14. True or False: Flexibility is a pos-sible competitive priority.
Answer:
Volume flexibility so it is true.

Question:
15. Productivity
Answer:
A basic measure of performance that allows the compar-ison of companies that appear to have
nothing in com-mon. Managers use many measure of productivity.

Question:
16. Measure of Productivity
Answer:
Output: The value of outputs produced (services and prod-ucts) Input: The values of input resources
used (wages, cost of equipment, etc.)




Question:
17. Break-even analysis (Compara-tive Analysis)
Answer:
Analysis to compare processes by finding the volume at which two different processes have equal
total costs.

Question:
18. Break-even quantity
Answer:
the volume (units) at which total revenues equal total costs

Question:
19. Sensitivity analysis
Answer:
a technique for systematically changing parameters in a model to determine the effects of such
changes.

Question:
20. How do you evaluate services or products?