CBAD 364 Operations Management
Exam 1 (Chp 1,2,6,S6) questions well
answered to pass
What is operations management? - correct answer ✔✔set of activities, creates value (in forms of goods
and services), transforming inputs into outputs
Organizing to Produce Goods and Services - correct answer ✔✔Three Essential Functions:
1. Operations
2. Marketing
3. Finance/Accounting
supply chain - correct answer ✔✔A global network of organizations and activities that supply a firm with
goods and services
Why study operations management? - correct answer ✔✔1. study how people organize themselves for
productive enterprise
2. Want/need to know how goods/services are produced
3. want to understand what operations managers do
4. costly part of an organization
What Operations Managers Do - correct answer ✔✔planning, organizing, staffing, leading, controlling
operations for goods and services - correct answer ✔✔- Manufacturers produce tangible product,
services often intangible
- Operations activities often very similar
- Distinction not always clear
- Few pure services
, Productivity Challenge - correct answer ✔✔Productivity is the ratio of outputs (goods and services)
divided by the inputs (resources such as labor and capital)
Quality - correct answer ✔✔may change while the quantity of inputs and outputs remain constant
External Elements - correct answer ✔✔may cause an increase or decrease in productivity
Precise Units - correct answer ✔✔of measure may be lacking
Labor - correct answer ✔✔contributes about 10% of the annual increase
Capital - correct answer ✔✔contributes about 38% of the annual increase
Management - correct answer ✔✔contributes about 52% of the annual increase
Ethics, Social Responsibility, and Sustainability - correct answer ✔✔Challenges facing OM:
- Develop and produce safe/high quality green products
-Train/Retrain/Motivate employees in a safe workplace
-Honor stakeholder commitments
Reasons to Globalize - correct answer ✔✔1. Improve the supply chain
2. Reduce costs (labor, taxes, tariffs, etc.)
3. Improve operations
4. Understand markets
5. Improve products
6. Attract and retain global talent
Exam 1 (Chp 1,2,6,S6) questions well
answered to pass
What is operations management? - correct answer ✔✔set of activities, creates value (in forms of goods
and services), transforming inputs into outputs
Organizing to Produce Goods and Services - correct answer ✔✔Three Essential Functions:
1. Operations
2. Marketing
3. Finance/Accounting
supply chain - correct answer ✔✔A global network of organizations and activities that supply a firm with
goods and services
Why study operations management? - correct answer ✔✔1. study how people organize themselves for
productive enterprise
2. Want/need to know how goods/services are produced
3. want to understand what operations managers do
4. costly part of an organization
What Operations Managers Do - correct answer ✔✔planning, organizing, staffing, leading, controlling
operations for goods and services - correct answer ✔✔- Manufacturers produce tangible product,
services often intangible
- Operations activities often very similar
- Distinction not always clear
- Few pure services
, Productivity Challenge - correct answer ✔✔Productivity is the ratio of outputs (goods and services)
divided by the inputs (resources such as labor and capital)
Quality - correct answer ✔✔may change while the quantity of inputs and outputs remain constant
External Elements - correct answer ✔✔may cause an increase or decrease in productivity
Precise Units - correct answer ✔✔of measure may be lacking
Labor - correct answer ✔✔contributes about 10% of the annual increase
Capital - correct answer ✔✔contributes about 38% of the annual increase
Management - correct answer ✔✔contributes about 52% of the annual increase
Ethics, Social Responsibility, and Sustainability - correct answer ✔✔Challenges facing OM:
- Develop and produce safe/high quality green products
-Train/Retrain/Motivate employees in a safe workplace
-Honor stakeholder commitments
Reasons to Globalize - correct answer ✔✔1. Improve the supply chain
2. Reduce costs (labor, taxes, tariffs, etc.)
3. Improve operations
4. Understand markets
5. Improve products
6. Attract and retain global talent
