OM 300 Northam Exam 1 | UPDATED Questions with 100% Verified
Answers
Question: Production
Answer:
the creation of goods and services
Question: Operations management
Answer:
set of activities that create value in the form of goods and services by transforming inputs into outputs
Question: 3 Business functions
Answer:
Marketing, operations, and finance and accounting
Question: 10 Strategic Decisions in Operations Management
Answer:
The base - People - Product - Process The place - location -layout The stuff -quality management -inventory
management -supply chain management the face -scheduling -maintenance
Question: Productivity formula
Answer:
Units produced/input used
Question: Multifactor Productivity Equation
Answer:
output/labor+material+energy+capital+miscellaneous
Question: operations manager
Answer:
A manager who is responsible for managing an organization's production system and for determining where
operating improvements might be made.
Question: Difference between goods and services
Answer:
Goods are tangible and services are intangible
, Question: What 3 factors affect productivity
Answer:
Human capital, technology, work environment
Question: Global Environment
Answer:
Technology and free trade have blurred lines between individual economies in the world
Question: Examples of global companies
Answer:
American Express, Proctor and Gamble
Question: Why do companies choose to expand globally?
Answer:
Building brand recognition and establish credibility internationally. ALSO each country has its own access to
resources, so they won't need to outsource anymore
Question: Developing mission and supporting strategies
Answer:
Provide competitive advantage and increase productivity.
Question: Operations Strategy
Answer:
the means by which operations implements the firm's corporate strategy and helps to build a customer-driven
firm
Question: Business Strategy
Answer:
identifies how a division or strategic business unit will compete in its product or service domain
Question: How do companies achieve competitive advantage
Answers
Question: Production
Answer:
the creation of goods and services
Question: Operations management
Answer:
set of activities that create value in the form of goods and services by transforming inputs into outputs
Question: 3 Business functions
Answer:
Marketing, operations, and finance and accounting
Question: 10 Strategic Decisions in Operations Management
Answer:
The base - People - Product - Process The place - location -layout The stuff -quality management -inventory
management -supply chain management the face -scheduling -maintenance
Question: Productivity formula
Answer:
Units produced/input used
Question: Multifactor Productivity Equation
Answer:
output/labor+material+energy+capital+miscellaneous
Question: operations manager
Answer:
A manager who is responsible for managing an organization's production system and for determining where
operating improvements might be made.
Question: Difference between goods and services
Answer:
Goods are tangible and services are intangible
, Question: What 3 factors affect productivity
Answer:
Human capital, technology, work environment
Question: Global Environment
Answer:
Technology and free trade have blurred lines between individual economies in the world
Question: Examples of global companies
Answer:
American Express, Proctor and Gamble
Question: Why do companies choose to expand globally?
Answer:
Building brand recognition and establish credibility internationally. ALSO each country has its own access to
resources, so they won't need to outsource anymore
Question: Developing mission and supporting strategies
Answer:
Provide competitive advantage and increase productivity.
Question: Operations Strategy
Answer:
the means by which operations implements the firm's corporate strategy and helps to build a customer-driven
firm
Question: Business Strategy
Answer:
identifies how a division or strategic business unit will compete in its product or service domain
Question: How do companies achieve competitive advantage
