ADMN 400 Final UPDATED ACTUAL
Exam Questions and CORRECT Answers
Data-driven decision making - CORRECT ANSWER - The process of making
organizational decisions based on actual data rather than intuition or observation alone
3 key performance indicators - CORRECT ANSWER - 1. they drive the performance of
your BUSN
2. they provide crucial information on sales, marketing, finances, and productivity
3. they enable you to make changes to the segments of the BUSN
operating management - CORRECT ANSWER - is chiefly concerned with planning,
organizing and supervising in the contexts of production, manufacturing or the provision of
services
-> synonymous with Supply Chain Management and Logistics
3 primary decisions of ops. - CORRECT ANSWER - 1. production planning
2. production control
3. improving production and operations
production planning - CORRECT ANSWER - The first decisions facing operations
managers come at the planning stage. At this stage, managers decide where, when, and how
production will occur. They determine site locations and obtain the necessary resources.
production control - CORRECT ANSWER - At this stage, the decision-making process
focuses on controlling quality and costs, scheduling, and the actual day-to-day operations of
running a factory or service facility. (Management)
improving production and operations - CORRECT ANSWER - The final stage of
operations management focuses on developing more efficient methods of producing the firm's
goods or services. (Improvement)
, production planning definition - CORRECT ANSWER - allows the firm to consider the
competitive environment and its own strategic goals to find the best production methods
production planning (3 phases) - CORRECT ANSWER - 1. long-term planning
2. medium-term planning
3. short-term planning
long-term planning - CORRECT ANSWER - (3-5 yr timeframe) focuses on which goods
to produce and where they should be produced (MOST BROAD PLANS)
medium term planning - CORRECT ANSWER - (2 yr timeframe) these decisions concern
the layout of the factory or service facilities, where and how to obtain the resources needed for
production, and labor issues
short term planning - CORRECT ANSWER - (1 yr timeframe) evaluates progress in the
present and creates an action plan to improve performance dialy
Production types - CORRECT ANSWER - Mass production
customization
mass customization
mass production - CORRECT ANSWER - manufacturing many identical goods at once
born out of Industrial Rev.
ex: canned goods, over-the-counter drugs, household appliances)
Customization - CORRECT ANSWER - company produces goods or services one at a
time according to the specific needs / wants of individual customers (opposite of mass prod.)
ex: printshop handles : newsletters, brochures, stationery, color of ink, type of paper, etc)
Exam Questions and CORRECT Answers
Data-driven decision making - CORRECT ANSWER - The process of making
organizational decisions based on actual data rather than intuition or observation alone
3 key performance indicators - CORRECT ANSWER - 1. they drive the performance of
your BUSN
2. they provide crucial information on sales, marketing, finances, and productivity
3. they enable you to make changes to the segments of the BUSN
operating management - CORRECT ANSWER - is chiefly concerned with planning,
organizing and supervising in the contexts of production, manufacturing or the provision of
services
-> synonymous with Supply Chain Management and Logistics
3 primary decisions of ops. - CORRECT ANSWER - 1. production planning
2. production control
3. improving production and operations
production planning - CORRECT ANSWER - The first decisions facing operations
managers come at the planning stage. At this stage, managers decide where, when, and how
production will occur. They determine site locations and obtain the necessary resources.
production control - CORRECT ANSWER - At this stage, the decision-making process
focuses on controlling quality and costs, scheduling, and the actual day-to-day operations of
running a factory or service facility. (Management)
improving production and operations - CORRECT ANSWER - The final stage of
operations management focuses on developing more efficient methods of producing the firm's
goods or services. (Improvement)
, production planning definition - CORRECT ANSWER - allows the firm to consider the
competitive environment and its own strategic goals to find the best production methods
production planning (3 phases) - CORRECT ANSWER - 1. long-term planning
2. medium-term planning
3. short-term planning
long-term planning - CORRECT ANSWER - (3-5 yr timeframe) focuses on which goods
to produce and where they should be produced (MOST BROAD PLANS)
medium term planning - CORRECT ANSWER - (2 yr timeframe) these decisions concern
the layout of the factory or service facilities, where and how to obtain the resources needed for
production, and labor issues
short term planning - CORRECT ANSWER - (1 yr timeframe) evaluates progress in the
present and creates an action plan to improve performance dialy
Production types - CORRECT ANSWER - Mass production
customization
mass customization
mass production - CORRECT ANSWER - manufacturing many identical goods at once
born out of Industrial Rev.
ex: canned goods, over-the-counter drugs, household appliances)
Customization - CORRECT ANSWER - company produces goods or services one at a
time according to the specific needs / wants of individual customers (opposite of mass prod.)
ex: printshop handles : newsletters, brochures, stationery, color of ink, type of paper, etc)
