MGSC 395 (Exam 1 David Precht)
Acquires financial resources and capital for inputs - ANS-Finance
Generates sales of outputs - ANS-Marketing
Translates materials and services into outputs - ANS-Operations
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-Supply Chain
1. Nature output
2. Degree of customer contact - ANS-Differences between Service and Manufacturing Process
cost, quality, time, flexibility - ANS-Competitive Priorities
Current, needed, planned - ANS-Competitive Capabilities
Minimum level required from a set of criteria for a firm to do business in a particular market
segment. - ANS-Order Qualifiers
a criterion that customers use to differentiate the services or products of one firm from those of
another - ANS-Order Winners
Output / Input - ANS-Productivity
Output produced / Employee hours - ANS-Labor Productivity
the ratio between the amount of output produced by an industry or business sector and the
amount of inputs used (Value of Output / Labor cost + Materials cost + Overhead Cost) -
ANS-Multifactor Productivity
the volume at which total revenues equal total costs (R=C) - 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
Acquires financial resources and capital for inputs - ANS-Finance
Generates sales of outputs - ANS-Marketing
Translates materials and services into outputs - ANS-Operations
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-Supply Chain
1. Nature output
2. Degree of customer contact - ANS-Differences between Service and Manufacturing Process
cost, quality, time, flexibility - ANS-Competitive Priorities
Current, needed, planned - ANS-Competitive Capabilities
Minimum level required from a set of criteria for a firm to do business in a particular market
segment. - ANS-Order Qualifiers
a criterion that customers use to differentiate the services or products of one firm from those of
another - ANS-Order Winners
Output / Input - ANS-Productivity
Output produced / Employee hours - ANS-Labor Productivity
the ratio between the amount of output produced by an industry or business sector and the
amount of inputs used (Value of Output / Labor cost + Materials cost + Overhead Cost) -
ANS-Multifactor Productivity
the volume at which total revenues equal total costs (R=C) - 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
