C201 BUSINESS ACUMEN Exam Questions with
correct answers
Supervisory Management - ✅✅- Implement the plans developed by middle managers
- Responsible for non-manager employees
- Motivate workers to accomplish daily, weekly, and monthly goals
TOP MANAGEMENT - ✅✅develop long range strategic plans for the organization; inspire executives
and employees to achieve their vision for the company's future
MIDDLE MANAGEMENT - ✅✅FOCUS ON SPECIFIC OPERATIONS, PRODUCTS OR CUSTOMER GROUPS
WITHIN AN ORGANIZATION.
Four Managerial Functions - ✅✅planning, organizing, leading, controlling
Organizing - ✅✅process of blending human and material resources through a formal structure of
tasks and authority; arranging work, dividing tasks among employees, and coordinating them to ensure
implementation of plans and accomplishment of objectives
PRODUCTION - ✅✅use of resources, such as workers and machinery, to convert materials into
finished goods and services
production and operations management - ✅✅oversee the production process by managing people
and machinery in converting materials and resources into finished goods and services
EFFECTIVE PRODUCTION AND OPERATIONS MANAGEMENT CAN - ✅✅LOWER FIRMS COST OF
PRODUCTION
BOOST QUALITY OF GOODS AND SERVICES
ALLOW IT TO RESPOND DEPENDABLY TO CUSTOMER DEMAND
ENABLE IT TO RENEW ITSELF
, MASS PRODUCTION - ✅✅a system for manufacturing products in large quantities through effective
combinations of employees, with specialized skills, mechanization, and standardization
DISADVANTAGE OF MASS PRODUCTION - ✅✅LARGE INVENTORIES
FLEXIBLE PRODUCTION - ✅✅more cost-effective for producing smaller batches using information
technology, communication, and cooperation
Customer-Driven Production - ✅✅evaluates customer demands in order to make the connection
between products manufactured and products bought
analytic production system - ✅✅TAKING A SINGLE INPUT AND TURNNG IT INTO MANY OUTPUTS
synthetic production system - ✅✅IT TAKES MANY DIFFERENT INPUTS TO CREATE A SINGLE OUTPUT
CONTINUOUS PRODUCTION PROCESS - ✅✅A production process that turns out products without
stopping AN INTERUTION CAN CREATE A CATASTROPHIC FAILURE
INTERMITTENT PRODUCTION - ✅✅process uses the customer's orders to produce goods. The process
is not continuous.
PRODUCTION PROCESSES - ✅✅Analytic, Synthetic, Continuous, and intermittent
Microeconomics - ✅✅THE STUDY OF SMALL ECONOMIC UNITS SUCH AS CONSUMERS, FAMILIES AND
BUSINESSES
SUPPLY - ✅✅the amount of goods and services available for sale
demand - ✅✅the willingness and ability of buyers to purchase a good or service
correct answers
Supervisory Management - ✅✅- Implement the plans developed by middle managers
- Responsible for non-manager employees
- Motivate workers to accomplish daily, weekly, and monthly goals
TOP MANAGEMENT - ✅✅develop long range strategic plans for the organization; inspire executives
and employees to achieve their vision for the company's future
MIDDLE MANAGEMENT - ✅✅FOCUS ON SPECIFIC OPERATIONS, PRODUCTS OR CUSTOMER GROUPS
WITHIN AN ORGANIZATION.
Four Managerial Functions - ✅✅planning, organizing, leading, controlling
Organizing - ✅✅process of blending human and material resources through a formal structure of
tasks and authority; arranging work, dividing tasks among employees, and coordinating them to ensure
implementation of plans and accomplishment of objectives
PRODUCTION - ✅✅use of resources, such as workers and machinery, to convert materials into
finished goods and services
production and operations management - ✅✅oversee the production process by managing people
and machinery in converting materials and resources into finished goods and services
EFFECTIVE PRODUCTION AND OPERATIONS MANAGEMENT CAN - ✅✅LOWER FIRMS COST OF
PRODUCTION
BOOST QUALITY OF GOODS AND SERVICES
ALLOW IT TO RESPOND DEPENDABLY TO CUSTOMER DEMAND
ENABLE IT TO RENEW ITSELF
, MASS PRODUCTION - ✅✅a system for manufacturing products in large quantities through effective
combinations of employees, with specialized skills, mechanization, and standardization
DISADVANTAGE OF MASS PRODUCTION - ✅✅LARGE INVENTORIES
FLEXIBLE PRODUCTION - ✅✅more cost-effective for producing smaller batches using information
technology, communication, and cooperation
Customer-Driven Production - ✅✅evaluates customer demands in order to make the connection
between products manufactured and products bought
analytic production system - ✅✅TAKING A SINGLE INPUT AND TURNNG IT INTO MANY OUTPUTS
synthetic production system - ✅✅IT TAKES MANY DIFFERENT INPUTS TO CREATE A SINGLE OUTPUT
CONTINUOUS PRODUCTION PROCESS - ✅✅A production process that turns out products without
stopping AN INTERUTION CAN CREATE A CATASTROPHIC FAILURE
INTERMITTENT PRODUCTION - ✅✅process uses the customer's orders to produce goods. The process
is not continuous.
PRODUCTION PROCESSES - ✅✅Analytic, Synthetic, Continuous, and intermittent
Microeconomics - ✅✅THE STUDY OF SMALL ECONOMIC UNITS SUCH AS CONSUMERS, FAMILIES AND
BUSINESSES
SUPPLY - ✅✅the amount of goods and services available for sale
demand - ✅✅the willingness and ability of buyers to purchase a good or service
