OM 300 Exam 1 Study Questions with 100%
Correct Answers
Operations Management Correct Answer: The set of
activities that create value in the form of goods and
services by transforming inputs into outputs
Main Functions of Business Correct Answer: Marketing,
Finance/Accounting, Production/Operations
Supply Chain Correct Answer: A global network of
organizations and activities that supply a firm with goods
and services
The Base Correct Answer: People, Product, Process
The Stuff Correct Answer: Quality Management,
Inventory Management, Supply Chain Management
The Place Correct Answer: Location, Layout
The Face Correct Answer: Scheduling, Maintenance
goods Correct Answer: manufactured and tangible.
services Correct Answer: activities that are intangible.
, productivity Correct Answer: ratio of outputs
(goods/services) divided by the inputs (resources).
productivity variables Correct Answer: outputs and
inputs ( if you cant sell it, its not an output)
output Correct Answer: units produced (goods and
services)
input Correct Answer: units used (resources such as labor
and capital)
How is productivity typically used in the service sector?
Correct Answer: It is usually labor-intensive, focused on
unique individual attributes, often intellectual, and
difficult to mechanize or evaluate for quality.
mission statement Correct Answer: provide boundaries
and focus for organizations and the concept around
which the firm can rally.
strategy Correct Answer: is an organization's action plan
to achieve its mission.
Correct Answers
Operations Management Correct Answer: The set of
activities that create value in the form of goods and
services by transforming inputs into outputs
Main Functions of Business Correct Answer: Marketing,
Finance/Accounting, Production/Operations
Supply Chain Correct Answer: A global network of
organizations and activities that supply a firm with goods
and services
The Base Correct Answer: People, Product, Process
The Stuff Correct Answer: Quality Management,
Inventory Management, Supply Chain Management
The Place Correct Answer: Location, Layout
The Face Correct Answer: Scheduling, Maintenance
goods Correct Answer: manufactured and tangible.
services Correct Answer: activities that are intangible.
, productivity Correct Answer: ratio of outputs
(goods/services) divided by the inputs (resources).
productivity variables Correct Answer: outputs and
inputs ( if you cant sell it, its not an output)
output Correct Answer: units produced (goods and
services)
input Correct Answer: units used (resources such as labor
and capital)
How is productivity typically used in the service sector?
Correct Answer: It is usually labor-intensive, focused on
unique individual attributes, often intellectual, and
difficult to mechanize or evaluate for quality.
mission statement Correct Answer: provide boundaries
and focus for organizations and the concept around
which the firm can rally.
strategy Correct Answer: is an organization's action plan
to achieve its mission.
