MAN 4504 OPERATIONS MANAGEMENT MIDTERM REVIEW
QUESTIONS WITH VERIFIED ANSWERS LATEST UPDATE 2026
A performance assessment that includes metrics related to customers, processes, and
learning and growing, as well as financials - Answers Balanced Scorecard
The degree to which a nation can produce goods and services that meet the test of
international markets - Answers Competitiveness
The essential capabilities that create a firm's sustainable competitive advantage -
Answers Core Competencies
The process of handcrafting products or services for individual customers - Answers
Craft Production
Dividing a job into a series of small tasks each performed by a different worker -
Answers Division of Labor
In operations, the ability to adjust to changes in product mix, production volume, or
product and process design - Answers Flexibility
The action plans generated from the policy deployment process - Answers Hoshins
The standardization of parts initially as replacement parts; enabled mass production -
Answers Interchangeable Parts
A set of measures that help managers evaluate performance in critical areas -
Answers Key Performance Indicators
An adaptation of mass production that prizes quality and flexibility - Answers Lean
Production
The mass production of customized products - Answers Mass Customization
The high-volume production of a standardized product for a mass market - Answers
Mass Production
A function or system that transforms inputs into outputs of greater value - Answers
Operations
The design and operation of productive systems - Answers Operations Management
The characteristics of a product or service that qualify it to be considered for purchase
- Answers Order Qualifiers
The characteristc of a product or service that wins orders in the marketplace -
Answers Order Winner
A planning system for converting strategy to measurable objectives throughout all
levels of an organization - Answers Policy Deployment
, Determining how a firm will compete in the marketplace - Answers Positioning
The task that is most central to the operation of a firm; it defines the business that a
firm is in and is often expressed in a mission statement - Answers Primary Task
The ratio of output to input - Answers Productivity
An emphasis on quality and the strategic role of operations - Answers Quality
Revolution
The systematic analysis of work methods proposed by Frederick Taylor in the early
1900s - Answers Scientific Management
Fast moves, fast adaptations, tight linkages - Answers Speed
A common vision that unites an organization, provides consistency in decisions, and
keeps the organization moving in the right direction - Answers Strategy
Managing the flow of information, products, and services across a network of
customers, enterprises, and supply chain partners - Answers Supply Chain
Management
A series of activities from supplier to customer that add value to a product or service -
Answers Value Chain
What activities are involved in the operations function? - Answers Organizing work,
selecting processes, arranging layouts, locating facilities, designing jobs, measuring
performance, controlling quality, scheduling work, managing inventory, and planning
production.
How does operations interact with other functional areas? - Answers As the technical
core or "hub" for the corporation. Interacting with other functional areas and suppliers
to produce goods and provide services for customers
What constitutes "operations" at a) bank, b) retail store, c) hospital, d) cable TV
company - Answers A) Exchange? , B) Exchange, C) Physiological, D)
Psychological
List five steps of strategy formulation - Answers 1. Defining a primary task, 2.
Assessing core comptetencies, 3. Determining order winners and order qualifiers, 4.
Positioning the firm, 5. Deploying the strategy
A measure of a decision maker's optimism, from 0 (completely pessimistic) to 1
(completely optimistic), used in the Hurwicz decision criterion. - Answers
Coefficient of Optimism (Alpha)
A set of quantitative decision-making techniques to aid the deciision maker in dealing
with decision situations in which uncertainty exists - Answers Decision Analysis
QUESTIONS WITH VERIFIED ANSWERS LATEST UPDATE 2026
A performance assessment that includes metrics related to customers, processes, and
learning and growing, as well as financials - Answers Balanced Scorecard
The degree to which a nation can produce goods and services that meet the test of
international markets - Answers Competitiveness
The essential capabilities that create a firm's sustainable competitive advantage -
Answers Core Competencies
The process of handcrafting products or services for individual customers - Answers
Craft Production
Dividing a job into a series of small tasks each performed by a different worker -
Answers Division of Labor
In operations, the ability to adjust to changes in product mix, production volume, or
product and process design - Answers Flexibility
The action plans generated from the policy deployment process - Answers Hoshins
The standardization of parts initially as replacement parts; enabled mass production -
Answers Interchangeable Parts
A set of measures that help managers evaluate performance in critical areas -
Answers Key Performance Indicators
An adaptation of mass production that prizes quality and flexibility - Answers Lean
Production
The mass production of customized products - Answers Mass Customization
The high-volume production of a standardized product for a mass market - Answers
Mass Production
A function or system that transforms inputs into outputs of greater value - Answers
Operations
The design and operation of productive systems - Answers Operations Management
The characteristics of a product or service that qualify it to be considered for purchase
- Answers Order Qualifiers
The characteristc of a product or service that wins orders in the marketplace -
Answers Order Winner
A planning system for converting strategy to measurable objectives throughout all
levels of an organization - Answers Policy Deployment
, Determining how a firm will compete in the marketplace - Answers Positioning
The task that is most central to the operation of a firm; it defines the business that a
firm is in and is often expressed in a mission statement - Answers Primary Task
The ratio of output to input - Answers Productivity
An emphasis on quality and the strategic role of operations - Answers Quality
Revolution
The systematic analysis of work methods proposed by Frederick Taylor in the early
1900s - Answers Scientific Management
Fast moves, fast adaptations, tight linkages - Answers Speed
A common vision that unites an organization, provides consistency in decisions, and
keeps the organization moving in the right direction - Answers Strategy
Managing the flow of information, products, and services across a network of
customers, enterprises, and supply chain partners - Answers Supply Chain
Management
A series of activities from supplier to customer that add value to a product or service -
Answers Value Chain
What activities are involved in the operations function? - Answers Organizing work,
selecting processes, arranging layouts, locating facilities, designing jobs, measuring
performance, controlling quality, scheduling work, managing inventory, and planning
production.
How does operations interact with other functional areas? - Answers As the technical
core or "hub" for the corporation. Interacting with other functional areas and suppliers
to produce goods and provide services for customers
What constitutes "operations" at a) bank, b) retail store, c) hospital, d) cable TV
company - Answers A) Exchange? , B) Exchange, C) Physiological, D)
Psychological
List five steps of strategy formulation - Answers 1. Defining a primary task, 2.
Assessing core comptetencies, 3. Determining order winners and order qualifiers, 4.
Positioning the firm, 5. Deploying the strategy
A measure of a decision maker's optimism, from 0 (completely pessimistic) to 1
(completely optimistic), used in the Hurwicz decision criterion. - Answers
Coefficient of Optimism (Alpha)
A set of quantitative decision-making techniques to aid the deciision maker in dealing
with decision situations in which uncertainty exists - Answers Decision Analysis
