MGSC 395 Exam 1 Precht 2024
any activity or group of activities that takes one or more inputs, transforms them, and provides
one or more outputs for its customers - ANS-Process
a group of resources performing all or part of one or more processes - ANS-Operation
an interrelated series of processes within and across firms that produces a service or product to
the satisfaction of customers - ANS-the Supply Chain
Minimum level required from a set of criteria for a firm to do business in a particular market
segment. - ANS-Order Qualifiers
a criterion customers use to differentiate the services or products of one firm from those of
another - ANS-Order Winners
Understand implications of metrics and drive organizational improvement - ANS-the Role of
Management
output/input - ANS-Measuring Productivity
the volume at which total revenues equal total costs - ANS-Break-even quantity
Quantitative analysis to compare processes by finding the volume at which two different
processes have equal total costs - ANS-Break-even analysis
The fundamental rethinking and radical redesign of business processes to achieve dramatic
improvement in critical measures of performance such as cost, quality, service, and speed. -
ANS-Process engineering
the systemic study of the activities and flows of each process to improve it - ANS-Process
improvement
focus on core business processes. Use normal process improvement for other aspects of the
business - ANS-Critical processes
needed from senior executives. Other , internal pushback, cynicism, departmental boundaries,
etc. will stop this from happening - ANS-Strong leadership
members from affected functional areas must be involved and empowered to lead the effort -
ANS-Cross-functional teams
any activity or group of activities that takes one or more inputs, transforms them, and provides
one or more outputs for its customers - ANS-Process
a group of resources performing all or part of one or more processes - ANS-Operation
an interrelated series of processes within and across firms that produces a service or product to
the satisfaction of customers - ANS-the Supply Chain
Minimum level required from a set of criteria for a firm to do business in a particular market
segment. - ANS-Order Qualifiers
a criterion customers use to differentiate the services or products of one firm from those of
another - ANS-Order Winners
Understand implications of metrics and drive organizational improvement - ANS-the Role of
Management
output/input - ANS-Measuring Productivity
the volume at which total revenues equal total costs - ANS-Break-even quantity
Quantitative analysis to compare processes by finding the volume at which two different
processes have equal total costs - ANS-Break-even analysis
The fundamental rethinking and radical redesign of business processes to achieve dramatic
improvement in critical measures of performance such as cost, quality, service, and speed. -
ANS-Process engineering
the systemic study of the activities and flows of each process to improve it - ANS-Process
improvement
focus on core business processes. Use normal process improvement for other aspects of the
business - ANS-Critical processes
needed from senior executives. Other , internal pushback, cynicism, departmental boundaries,
etc. will stop this from happening - ANS-Strong leadership
members from affected functional areas must be involved and empowered to lead the effort -
ANS-Cross-functional teams
