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10) The three mainline functions of any business are ________, ________, and ________.
Answer: operations, finance, marketing
Difficulty: Moderate
Keywords: operations, finance, marketing, functions of a firm
Learning Outcome: Discuss operations and operations management as a competitive advantage for the organization
AACSB: Application of Knowledge
Learning Objective: Describe the role of operations in an organization and its historical evolution over time.
11) Supply chain management is the synchronization of a firm's processes with those of its ________ and
________ to match the flow of materials, services, and information.
Answer: suppliers, customers
Difficulty: Moderate
NW
Keywords: supply chain management, suppliers, customers
Learning Outcome: Discuss operations and operations management as a competitive advantage for the organization
AACSB: Application of Knowledge
U
Learning Objective: Describe the role of operations in an organization and its historical evolution over time.
12) What are the three key functions of a firm and what is each responsible for?
Answer: The three main functions of a firm are operations, finance, and marketing. The operations
Rhi
function transforms material and service inputs into product and service outputs. The finance function
generates resources, capital and funds from investors and sales of the firm's goods and services in the
marketplace. The marketing function is responsible for producing sales revenue of the outputs.
SzzE
Difficulty: Moderate
Keywords: manufacturing process, service process
Learning Outcome: Discuss operations and operations management as a competitive advantage for the organization
AACSB: Application of Knowledge
Learning Objective: Describe the role of operations in an organization and its historical evolution over time.
nDu
1.2 A Process View
1) A process involves transforming inputs into outputs.
Answer: TRUE
Difficulty: Easy
Ors
Keywords: process, inputs, outputs
Learning Outcome: Describe the main types of operations processes and layouts in manufacturing and in services
AACSB: Application of Knowledge
Learning Objective: Describe the process view of operations in terms of inputs, processes, outputs, information
Ce
flows, suppliers, and customers.
2) Every process has a customer.
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Answer: TRUE
Difficulty: Easy
Keywords: process, customer relationship
Learning Outcome: Describe the main types of operations processes and layouts in manufacturing and in services
AACSB: Application of Knowledge
Learning Objective: Describe the process view of operations in terms of inputs, processes, outputs, information
flows, suppliers, and customers.
4
Copyright © 2022 Pearson Education, Inc.
,TESTBANKHERO
,TESTBANKHERO
, TESTBANKHERO
10) The three mainline functions of any business are ________, ________, and ________.
Answer: operations, finance, marketing
Difficulty: Moderate
Keywords: operations, finance, marketing, functions of a firm
Learning Outcome: Discuss operations and operations management as a competitive advantage for the organization
AACSB: Application of Knowledge
Learning Objective: Describe the role of operations in an organization and its historical evolution over time.
11) Supply chain management is the synchronization of a firm's processes with those of its ________ and
________ to match the flow of materials, services, and information.
Answer: suppliers, customers
Difficulty: Moderate
NW
Keywords: supply chain management, suppliers, customers
Learning Outcome: Discuss operations and operations management as a competitive advantage for the organization
AACSB: Application of Knowledge
U
Learning Objective: Describe the role of operations in an organization and its historical evolution over time.
12) What are the three key functions of a firm and what is each responsible for?
Answer: The three main functions of a firm are operations, finance, and marketing. The operations
Rhi
function transforms material and service inputs into product and service outputs. The finance function
generates resources, capital and funds from investors and sales of the firm's goods and services in the
marketplace. The marketing function is responsible for producing sales revenue of the outputs.
SzzE
Difficulty: Moderate
Keywords: manufacturing process, service process
Learning Outcome: Discuss operations and operations management as a competitive advantage for the organization
AACSB: Application of Knowledge
Learning Objective: Describe the role of operations in an organization and its historical evolution over time.
nDu
1.2 A Process View
1) A process involves transforming inputs into outputs.
Answer: TRUE
Difficulty: Easy
Ors
Keywords: process, inputs, outputs
Learning Outcome: Describe the main types of operations processes and layouts in manufacturing and in services
AACSB: Application of Knowledge
Learning Objective: Describe the process view of operations in terms of inputs, processes, outputs, information
Ce
flows, suppliers, and customers.
2) Every process has a customer.
S
Answer: TRUE
Difficulty: Easy
Keywords: process, customer relationship
Learning Outcome: Describe the main types of operations processes and layouts in manufacturing and in services
AACSB: Application of Knowledge
Learning Objective: Describe the process view of operations in terms of inputs, processes, outputs, information
flows, suppliers, and customers.
4
Copyright © 2022 Pearson Education, Inc.
