MAR 3203 Test 1 QUESTIONS WITH CORRECT ANSWERS |LATEST UPDATE 100% SOLVED|
GRADED A+
finance/accounting tracks how well the organization is doing, pays bills, collects the money
Silo Effect workers complete their tasks in their functional silos without regard to the
consequences for the other components of the process
supply chain A global network of organizations and activities that supply a firm with goods
and services
productivity ratio of inputs divided by outputs
operations manager sole job of a _______ is to enhance the productivity ratio
labor, capital, management productivity variables
quality, external elements, precise units measurement problems
globalize Reasons to ________:
-improve the supply chain
-reduce costs and exchange rate risks
, -improve operations
-understand markets
-improve products
-attract and retain global talent
Strategy Development Process 1. Analyze the Environment
2. Determine the Corporate Mission
3. Form a Strategy
Outsourcing transferring a firm's activities that have traditionally been internal to external
suppliers
Theory of Comparative Advantage If an external provider can perform activities more
productively than the purchasing firm, then the external provider should do the work
Forecasting Process of predicting a future event
short range up to a year, normally less than 3 months, purchansing, job scheduling,
workforce level, job assignments, production levels
medium range 3 months to 3 years
Sales and production planning, budgeting
GRADED A+
finance/accounting tracks how well the organization is doing, pays bills, collects the money
Silo Effect workers complete their tasks in their functional silos without regard to the
consequences for the other components of the process
supply chain A global network of organizations and activities that supply a firm with goods
and services
productivity ratio of inputs divided by outputs
operations manager sole job of a _______ is to enhance the productivity ratio
labor, capital, management productivity variables
quality, external elements, precise units measurement problems
globalize Reasons to ________:
-improve the supply chain
-reduce costs and exchange rate risks
, -improve operations
-understand markets
-improve products
-attract and retain global talent
Strategy Development Process 1. Analyze the Environment
2. Determine the Corporate Mission
3. Form a Strategy
Outsourcing transferring a firm's activities that have traditionally been internal to external
suppliers
Theory of Comparative Advantage If an external provider can perform activities more
productively than the purchasing firm, then the external provider should do the work
Forecasting Process of predicting a future event
short range up to a year, normally less than 3 months, purchansing, job scheduling,
workforce level, job assignments, production levels
medium range 3 months to 3 years
Sales and production planning, budgeting
