COB 300 OPERATIONS COMPREHENSIVE
OPERATIONS MANAGEMENT REVIEW
SHEET FULL SOLUTIONS
●● Mission Statement
Answer: States the purpose of the organization
●● Goals
Answer: Provide detail and the scope of the mission
●● Strategy
Answer: - A plan for achieving organizational goals
- If goals = destinations, Strategies = roadmaps
●● Order Qualifiers
Answer: Characteristics that customers perceive as minimum standards
of acceptability for a product or service to be considered as a potential
for purchase
●● Order Winners:
Answer: Characteristics of an organization's goods or services that cause
it to be perceived as better than the competition
,●● Core Competency
Answer: The one thing a company can do better than its competitors
●● Environmental Scanning
Answer: Identifies internal strengths and weaknesses
Identifies external opportunities and threats
●● Three basic business strategies:
Answer: 1) Supply Chain Strategy
2) Sustainability Strategy
3) Global Strategy
●● Four perspectives of a balanced scorecard
Answer: 1) Customers
2) Internal Business Processes
3) Learning
4) Growth
●● What is the purpose of a balanced scorecard?
Answer: - Using this approach, managers develop objectives, metrics,
and targets for each objective and initiatives to achieve objectives, and
they identify links among the various perspectives.
,- Results are monitored and used to improve strategic performance
results.
●● Operations Management
Answer: The management of systems or processes that create goods
and/or provide services
●● Productivity =
Answer: Productivity = Outputs/Inputs
●● Partial Measures:
Answer: Output/Single Input; Output/Labor; Output/Capital
●● Multifactorial Measures:
Answer: Output/ Multiple Inputs/ Output/Labor+Machine; Output/
(Labor + Capital + Energy)
●● Productivity Growth
Answer: (Current Productivity - Previous Productivity)/Previous
Productivity X 100%
Ex. (23-25)/25 X 100% = -8%
●● Core competency
, Answer: The one thing that a firm can do better than its competitors. The
goal is to have a core competency that yields a long-term competitive
advantage to the company.
●● Contract manufacturer
Answer: An organization that performs manufacturing and/or purchasing
needed to produce a product or device not for itself, but asa service to
another firm.
●● Concurrent Engineering
Answer: Emphasizes cross-functional integration and concurrent
development of a product and its associated processes.
●● Quality function deployment (QFD)
Answer: A process that helps a company determine the product
characteristics important to the consumer and to evaluate its own
product in relation to others.
●● House of quality
Answer: A matrix that helps a product design team translate customer
requirements into operating and engineering goals.
●● Value analysis/value engineering (VA/VE)
OPERATIONS MANAGEMENT REVIEW
SHEET FULL SOLUTIONS
●● Mission Statement
Answer: States the purpose of the organization
●● Goals
Answer: Provide detail and the scope of the mission
●● Strategy
Answer: - A plan for achieving organizational goals
- If goals = destinations, Strategies = roadmaps
●● Order Qualifiers
Answer: Characteristics that customers perceive as minimum standards
of acceptability for a product or service to be considered as a potential
for purchase
●● Order Winners:
Answer: Characteristics of an organization's goods or services that cause
it to be perceived as better than the competition
,●● Core Competency
Answer: The one thing a company can do better than its competitors
●● Environmental Scanning
Answer: Identifies internal strengths and weaknesses
Identifies external opportunities and threats
●● Three basic business strategies:
Answer: 1) Supply Chain Strategy
2) Sustainability Strategy
3) Global Strategy
●● Four perspectives of a balanced scorecard
Answer: 1) Customers
2) Internal Business Processes
3) Learning
4) Growth
●● What is the purpose of a balanced scorecard?
Answer: - Using this approach, managers develop objectives, metrics,
and targets for each objective and initiatives to achieve objectives, and
they identify links among the various perspectives.
,- Results are monitored and used to improve strategic performance
results.
●● Operations Management
Answer: The management of systems or processes that create goods
and/or provide services
●● Productivity =
Answer: Productivity = Outputs/Inputs
●● Partial Measures:
Answer: Output/Single Input; Output/Labor; Output/Capital
●● Multifactorial Measures:
Answer: Output/ Multiple Inputs/ Output/Labor+Machine; Output/
(Labor + Capital + Energy)
●● Productivity Growth
Answer: (Current Productivity - Previous Productivity)/Previous
Productivity X 100%
Ex. (23-25)/25 X 100% = -8%
●● Core competency
, Answer: The one thing that a firm can do better than its competitors. The
goal is to have a core competency that yields a long-term competitive
advantage to the company.
●● Contract manufacturer
Answer: An organization that performs manufacturing and/or purchasing
needed to produce a product or device not for itself, but asa service to
another firm.
●● Concurrent Engineering
Answer: Emphasizes cross-functional integration and concurrent
development of a product and its associated processes.
●● Quality function deployment (QFD)
Answer: A process that helps a company determine the product
characteristics important to the consumer and to evaluate its own
product in relation to others.
●● House of quality
Answer: A matrix that helps a product design team translate customer
requirements into operating and engineering goals.
●● Value analysis/value engineering (VA/VE)
