OM 300 CHILCUTT EXAM 1 COMPLETE
SOLUTION QUESTIONS AND ANSWERS
(ALL GRADED A+)
Operations |Management |- |ANS |-the |set |of |activities |that |create |value |in |the |form |of |goods |
and |services |by |transforming |inputs |into |outputs
Marketing |- |ANS |-generates |demand
accounting |- |ANS |-tracks |how |well |the |organization |is |doing, |pays |bills, |and |collects |money
operations |- |ANS |-creates |the |product
supply |chain |- |ANS |-a |global |network |of |organizations |and |activities |that |supply |a |firm |with |
goods |and |services.
--Farm |to |fork
services |- |ANS |-Economic |activities |that |typically |produce |an |intangible |product |(such |as |
education, |entertainment, |lodging, |government, |financial, |and |health |services)
manufacturers |- |ANS |-produce |tangible |products
productivity |- |ANS |-the |ratio |of |outputs |(goods |and |services) |divided |by |the |inputs |(resources |
such |as |labor |and |capital) |
--objective |of |businesses |is |to |improve |this
, multi-factor |productivity |- |ANS |-the |ratio |between |the |amount |of |output |produced |by |an |
industry |or |business |sector |and |the |amount |of |inputs |used
--often |expressed |in |dollars
quality |- |ANS |-may |change |while |the |quantity |of |inputs |and |outputs |remains |constant
external |elements |- |ANS |-may |cause |an |increase |of |decrease |in |productivity
precise |units |- |ANS |-may |be |lacking |in |our |multi-factor |productivity |formula
Key |Variables |for |Improved |Labor |Productivity |- |ANS |-1. |Basic |Education |appropriate |for |the |
labor |force
2. |Diet |of |the |labor |force
3. |Social |overhead |that |makes |labor |available
|-Challenge |is |in |maintaining |and |enhancing |skills |in |the |midst |of |rapidly |changing |technology |
and |knowledge
stakeholders |- |ANS |-those |with |a |vested |interest |in |an |organization, |including |customers, |
distributors, |suppliers, |owners, |lender, |employees, |and |community |members
management |- |ANS |-accounts |about |52% |of |the |annual |increase |in |productivity
mission |- |ANS |-organization's |purpose |or |reason |for |being
strategy |- |ANS |-a |plan |of |action |to |achieve |the |mission |of |the |organization
SWOT
SOLUTION QUESTIONS AND ANSWERS
(ALL GRADED A+)
Operations |Management |- |ANS |-the |set |of |activities |that |create |value |in |the |form |of |goods |
and |services |by |transforming |inputs |into |outputs
Marketing |- |ANS |-generates |demand
accounting |- |ANS |-tracks |how |well |the |organization |is |doing, |pays |bills, |and |collects |money
operations |- |ANS |-creates |the |product
supply |chain |- |ANS |-a |global |network |of |organizations |and |activities |that |supply |a |firm |with |
goods |and |services.
--Farm |to |fork
services |- |ANS |-Economic |activities |that |typically |produce |an |intangible |product |(such |as |
education, |entertainment, |lodging, |government, |financial, |and |health |services)
manufacturers |- |ANS |-produce |tangible |products
productivity |- |ANS |-the |ratio |of |outputs |(goods |and |services) |divided |by |the |inputs |(resources |
such |as |labor |and |capital) |
--objective |of |businesses |is |to |improve |this
, multi-factor |productivity |- |ANS |-the |ratio |between |the |amount |of |output |produced |by |an |
industry |or |business |sector |and |the |amount |of |inputs |used
--often |expressed |in |dollars
quality |- |ANS |-may |change |while |the |quantity |of |inputs |and |outputs |remains |constant
external |elements |- |ANS |-may |cause |an |increase |of |decrease |in |productivity
precise |units |- |ANS |-may |be |lacking |in |our |multi-factor |productivity |formula
Key |Variables |for |Improved |Labor |Productivity |- |ANS |-1. |Basic |Education |appropriate |for |the |
labor |force
2. |Diet |of |the |labor |force
3. |Social |overhead |that |makes |labor |available
|-Challenge |is |in |maintaining |and |enhancing |skills |in |the |midst |of |rapidly |changing |technology |
and |knowledge
stakeholders |- |ANS |-those |with |a |vested |interest |in |an |organization, |including |customers, |
distributors, |suppliers, |owners, |lender, |employees, |and |community |members
management |- |ANS |-accounts |about |52% |of |the |annual |increase |in |productivity
mission |- |ANS |-organization's |purpose |or |reason |for |being
strategy |- |ANS |-a |plan |of |action |to |achieve |the |mission |of |the |organization
SWOT
