OPERATIONS MANAGEMENT EXAM 1 STUDY GUIDE QUESTIONS AND ANSWERS | COMPLETE
PRACTICE TEST 2026/2027
Operations - ANS ✔✔The part of a business organization that is responsible for producing goods
or services
Goods - ANS ✔✔physical items that include raw materials, parts, subassemblies, and final
products. (e.g. tables, chair, TV, laptop, etc.)
Services - ANS ✔✔intangible activities that provide some combination of time, location, form or
psychological value. (e.g. social networking, air travel, education etc.)
Operations Management - ANS ✔✔The management of systems or processes that create goods
and/or provide services
Model - ANS ✔✔an abstraction of reality; a simplification of something
supply chain - ANS ✔✔a sequence of activities and organizations involved in producing and
delivering a good or service
competitiveness - ANS ✔✔How effectively an organization meets the wants and needs of
customers relative to others that offer similar goods or services
Mission - ANS ✔✔The reason of an organization's existance
Goals - ANS ✔✔can be viewed as organizational destinations. Help provide detail and scope of
the organization's mission.
Strategy - ANS ✔✔A plan for acheiving organizational goals
PRACTICE TEST 2026/2027
Operations - ANS ✔✔The part of a business organization that is responsible for producing goods
or services
Goods - ANS ✔✔physical items that include raw materials, parts, subassemblies, and final
products. (e.g. tables, chair, TV, laptop, etc.)
Services - ANS ✔✔intangible activities that provide some combination of time, location, form or
psychological value. (e.g. social networking, air travel, education etc.)
Operations Management - ANS ✔✔The management of systems or processes that create goods
and/or provide services
Model - ANS ✔✔an abstraction of reality; a simplification of something
supply chain - ANS ✔✔a sequence of activities and organizations involved in producing and
delivering a good or service
competitiveness - ANS ✔✔How effectively an organization meets the wants and needs of
customers relative to others that offer similar goods or services
Mission - ANS ✔✔The reason of an organization's existance
Goals - ANS ✔✔can be viewed as organizational destinations. Help provide detail and scope of
the organization's mission.
Strategy - ANS ✔✔A plan for acheiving organizational goals
