GMS 401 Final exam latest guide 2024 complete

GMS 401 Final exam latest guide 2024 complete Production ANS-the creation of goods and services Operations Management ANS-Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain ANS-A global network of organizations and activities that supply a firm with goods and services Services ANS-Economic activities that typically produce an intangible product (such as education, entertainment, lodging, government, financial, and health services) Service sector ANS-the segment of the economy that includes trade, financial, lodging, education, legal, medical, and other professional occupations Management process ANS-the application of planning, organizing, staffing, leading, and controlling to the achievement of objectives Differentiation ANS-distinguishing the offerings of an organization in a way that the customer perceives as adding value Experience Differentiation ANS-Engaging a customer with a product through imaginative use of the five senses, so the customer "experiences" the product Low cost leadership ANS-achieving maximum value, as perceived by the customer Response ANS-a set of values related to rapid, flexible, and reliable performance Mission ANS-the purpose or rationale for an organization's existence Strategy ANS-how an organization expects to achieve its missions and goals