MGT 301 Final Exam NAU Questions and Answers Solved 100% Correct!!

Putnam Investments of Boston offers a wide range of mutual funds through independent brokers. To gain a competitive advantage over other mutual fund companies, Putnam now provides brochures and prospectuses of their mutual funds to brokers within 24 hours of request. This is an example of - Responsiveness strategy An operations task performed at Hard Rock Café is - preparing employee schedules The five elements in the management process are - plan, organize, staff, lead, and control Which of the following is NOT a typical operations management function? - Produce an advertising campaign for a cell phone BMW's plant in Spartansburg, SC developed the BMW X5 (new SUV) in 35 months. They have an aggressive target of reducing new product development cycles by 30%. This is an example of the operations management competitive advantage of - Response Customers of Dell Computers can order their computers on-line. Once the order is placed, Dell starts to assemble the computer. Dell has recently reduced the time it takes to assemble a computer from 10 hours to 8 hours. This is an example of competing by - Response Among department stores, Nordstrom has a reputation for highly personalized customer service. This is an example of which OM strategy? - Differentiation strategy Southwest Airlines has streamlined its facilities to minimize the cost of scheduling crew changes, maintenance, and inventories of parts. This is an example of which OM strategy? - Low-cost strategy Which of the following products is likely to be assembled on a repetitive-process line? - television setsFender's Custom Shop has produced guitars for many famous and gifted guitarists including Eric Clapton, John Deacon (Queen), and David Gilmore (Pink Floyd) to name a few. The Shop uses new and highly specialized equipment. Highly detailed inlay work is performed with a Hegner precision scroll saw. Final assembly of the guitars is done by actual musicians. What type of process strategy is utilized by Fender's Custom Shop? - job shop At Nike iD's website you can design your own shoe including selecting the uppers color and material, color of the Nike swoosh, sole, tongue and your own personalized ID. Three to four weeks later the shoe you designed is delivered to your home. This is an example of - Mass customization Another phrase used to describe Process Focus - job shop Another phrase used to describe Mass Customization - built to order Another phrase used to describe Repetitive Focus - module Another phrase used to describe Product Focus - continuous process Which of the following products is likely to be assembled on a repetitive-process line? - television sets In the 1980's, Xerox studied the distribution system of L.L. Bean. Xerox compared the performance of its distribution system with L.L. Bean's and used what it learned to improve its operations. This process is called - Benchmarking The process of identifying other organizations that are best at some facet of your operations and then modeling your organization after them is known as - Benchmarking Which of the following is not a Total Quality Management concept? - strategic planning Which of these is NOT an element of TQM? - management empowermentMetro Airport flight traffic control tracks the length of flight delays. One tool that Metro uses is an R chart. The purpose of such an R chart is to determine whether there has been a - change in the variation of the flight delay length he control chart that monitors a process average is the - x-bar chart The purpose of an x-bar chart is to determine whether there has been a - change in the average of the process output An ambulance firm in a large metropolitan area is concerned with its response time. For the last 20 days, they have randomly sampled 4 ambulance calls and measured the response time for each. The firm has decided to implement statistical process control to monitor average response time. What is the most appropriate chart(s)? - xbar-chart and R chart Statistical Process Control charts - display upper and lower limits for process variables or attributes, and signal when a process is no longer in control