OM 300 Questions and correct detailed answers (fully covered)

OM 300 Questions and correct detailed
answers (fullycovered)
coordinating, |and |controlling |the |resources |needed |to |produce |a |company's |products |and |
|


services



What |are |the |3 |essential |functions |of |organizing |to |produce |goods |and |services? |- |ANS |-1) |
Marketing: |generates |demand

2) |production/operations: |creates |the |product

3) |finance/accounting: |tracks |how |well |the |organization |is |doing |, |pays |bills, |and |collects |the |
money



supply |chain |- |ANS |-global |network |of |organizations |and |activities |that |supply |a |firm |with |
goods |and |services; |members |collaborate |to |achieve |high |levels |of |customer |satisfaction, |
efficiency, |and |competitive |advantage



What |are |the |4 |reasons |to |study |OM? |- |ANS |-1) |it's |one |the |3 |major |functions |of |any |org., |we |
want |to |study |how |peeps |organize |themselves |for |productive |enterprise

2) |we |need |to |know |how |goods |and |services |are |produced

3) |we |want |to |understand |what |OM |managers |do

4) |OM |is |a |costly |part |of |an |organization



5 |basic |management |functions |done |by |operations |managers |- |ANS |-1) |planning

2) |organizing

3) |staffing

4) |leading

5) |controlling

, productivity |- |ANS |-measure |of |process |improvement; |represents |outputs |related |to |input; |
only |through |increases |in |this |can |our |standard |of |living |improve



formula |for |productivity |- |ANS |-Productivity |= |outputs/inputs



formula |for |labor |productivity |- |ANS |-Productivity= |outputs/(workersxhrs)



formula |for |multi-factor |productivity |- |ANS |-Productivity= |Outputs/

| labor+material+energy+capital+miscellaneous



what |are |3 |measurement |problems |- |ANS |-1)quality: |may |change |while |quantity |of |inputs |and |
outputs |remains |the |same

2) |external |elements: |may |cause |an |increase |or |decrease |in |productivity

3) |Precise |units: |measure |may |be |lacking



what |are |3 |productivity |variable |- |ANS |-1) |labor: |contributes |about |10% |of |annual |increase

2) |capital: |contributes |about |38% |of |annual |increase

3) |management: |contributes |about |52% |of |annual |increase



What |are |3 |key |variables |for |improved |labor |productivity? |- |ANS |-1) |basic |education |for |the |
appropriate |labor |force

2) |diet |of |the |labor |force

3) |social |overhead |that |make |labor |available



management |- |ANS |-ensures |labor |and |capital |are |effectively |used |to |increase |productivity |
through |the |use |of |the |knowledge |and |application |of |technology