BUSOBA 3130 FINAL EXAM STUDY UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. Operations Management
Answer:
The processes that effectively produce, transform, and deliver a product or
service.
Question:
2. Why OM necessary?
Answer:
Touches the design and improvement of the systems and processes that create
and deliver the firms primary products and services.
Question:
3. Process
Answer:
a system of activities that transforms inputs into valuable outputs
Question:
4. Key Inputs
Answer:
People, knowledge, equipment, facilities, material, services, energy, time.
Question:
5. Goods/Products
Answer:
Tangible items that have monetary value and satisfy your needs and wants
Question:
6. Services
Answer:
Intangible activities that are performed by other people for money; productive
acts that satisfy economic wants
Question:
7. Can there be services w/o products?
Answer:
No
,Question:
8. 3 Steps to developing strategy
Answer:
1. Assessing and monitoring the environment
2. Identifying and developing core competencies
3. Developing the firms core processes
Question:
9. Manufacturing Processes
Answer:
change materials in one or more of the following dimensions:
Physical properties
Shape
Fixed dimensions
Surface finish
Joining parts and materials
Question:
10. Service Process
Answer:
Locational - transportation/logistics
Exchange - Retailing, storage
Storage - Warehouse
Physiological - health care
Informational - Exchange of data info
Question:
11. 4 Core Processes
Answer:
1. Customer relationship processes
2. New service/ product development processes
3. Order fulfillment processes
4. Supplier relationship processes
Question:
12. Structural Decisions
Answer:
Long term, high capital, less frequent
Ex: Capacity, Facilities, vertical integration...
, Question:
13. Infrastructural Decisions
Answer:
Shorter Term, less capital, more frequent
Ex: Workforce, organization, quality systems
Question:
14. Operations Strategy/4 Types of Competitive Priorities
Answer:
1. Cost
2. Quality
3. Deliverability
4. Flexibility
Question:
15. Direction & Implementation, i.e. what and how we should do it?
Answer:
Strategy
Question:
16. Core competencies
Answer:
the unique resources and strengths that an organization's management considers
when formulating strategy
Include competitive priorities and competitive capabilities
Question:
17. Competitive Priorities
Answer:
what the company would like to achieve, how the company would like to
compete, and beat their competitors
Question:
18. Competitive Capabilities
Answer:
the unique and valued skills, processes and knowledge the firm is able to actually
achieve and use to satisfy customers
Question:
19. Order Winners
Answer:
characteristics causing customers to prefer you over your competitors
QUESTIONS AND CORRECT ANSWERS
Question:
1. Operations Management
Answer:
The processes that effectively produce, transform, and deliver a product or
service.
Question:
2. Why OM necessary?
Answer:
Touches the design and improvement of the systems and processes that create
and deliver the firms primary products and services.
Question:
3. Process
Answer:
a system of activities that transforms inputs into valuable outputs
Question:
4. Key Inputs
Answer:
People, knowledge, equipment, facilities, material, services, energy, time.
Question:
5. Goods/Products
Answer:
Tangible items that have monetary value and satisfy your needs and wants
Question:
6. Services
Answer:
Intangible activities that are performed by other people for money; productive
acts that satisfy economic wants
Question:
7. Can there be services w/o products?
Answer:
No
,Question:
8. 3 Steps to developing strategy
Answer:
1. Assessing and monitoring the environment
2. Identifying and developing core competencies
3. Developing the firms core processes
Question:
9. Manufacturing Processes
Answer:
change materials in one or more of the following dimensions:
Physical properties
Shape
Fixed dimensions
Surface finish
Joining parts and materials
Question:
10. Service Process
Answer:
Locational - transportation/logistics
Exchange - Retailing, storage
Storage - Warehouse
Physiological - health care
Informational - Exchange of data info
Question:
11. 4 Core Processes
Answer:
1. Customer relationship processes
2. New service/ product development processes
3. Order fulfillment processes
4. Supplier relationship processes
Question:
12. Structural Decisions
Answer:
Long term, high capital, less frequent
Ex: Capacity, Facilities, vertical integration...
, Question:
13. Infrastructural Decisions
Answer:
Shorter Term, less capital, more frequent
Ex: Workforce, organization, quality systems
Question:
14. Operations Strategy/4 Types of Competitive Priorities
Answer:
1. Cost
2. Quality
3. Deliverability
4. Flexibility
Question:
15. Direction & Implementation, i.e. what and how we should do it?
Answer:
Strategy
Question:
16. Core competencies
Answer:
the unique resources and strengths that an organization's management considers
when formulating strategy
Include competitive priorities and competitive capabilities
Question:
17. Competitive Priorities
Answer:
what the company would like to achieve, how the company would like to
compete, and beat their competitors
Question:
18. Competitive Capabilities
Answer:
the unique and valued skills, processes and knowledge the firm is able to actually
achieve and use to satisfy customers
Question:
19. Order Winners
Answer:
characteristics causing customers to prefer you over your competitors
