BCOR 3050 EXAM 1 REVIEW
QUESTIONS & ANSWERS
,1. As shown in the demand curve below, what happens
Quantity goes up, price
if cost is reduced?
goes down, value accru-
ing to customers goes up,
value captured by the firm
goes up.
2. As shown in the demand curve below, what happens
The demand curve shifts
if operations is able to increase quality?
upward.
3. IDEO is a firm that designs products. (If you haven't
They have found what they
already seen it, below is a link to a video describing
believe to be the best
how they went about designing a new shopping cart.) set of process steps for
Here is a quote from IDEO's founder, Dave Kelley: designing new products,
"The point is, we're not expects in any given area. and they methodically fol-
We're expects on the process of how you design stuff. low those process steps
So we don't care if you give us a toothbrush, a tractor, regardless of the type of
a space shuttle, a chair, it's all the same to us." What product they are design-
does Dave Kelley mean by this? ing.
4. WIP (work-in-progress) is: The name for the inputs
that are not yet outputs
5. In the picture below, the "ouput" of Apple's design The drawings and specifi-
team becomes the "input" for the company Foxconn, cations of the iPhone (but
who then makes the physical iPhone. In this context, not physical iPhones).
what would be the "output" of Apple's design team?
,6. In the picture below, how many different process 6
steps are shown?
7. In the picture below, a "resource" is associated with: With a rectangle (a re-
source is what processes a
job)
8. Why should you study Operations Management? -It teaches you how to
think logically
-It tells you how to make
money
-It tells you how to man-
age transformations from
inputs to outputs
9. Why did we have you read the article about the bas- -Because it shows the val-
ketball player? ue of applying a "scien-
tific" approach to some-
thing.
-Because it shows the im-
portance to finding the
best way of doing some-
thing, and then making
sure you do it that way
"every time."
, -Because it's more inter-
esting than a textbook?
10. In the article about the basketball player, Shane Bat- Operations teaches us to
tier was held up as "doing everything right" but in find the best way to do
the end, Kobe Bryant still made the shot. What is this something, and then do it
intended to teach us? that way every time. This
doesn't guarantee success
every time, but it results in
higher likelihood of suc-
cess.
11. Which of these was the value equation for the Univer- Value = (Quality + Service)
sity of Utah Health System? / Cost
12. 7
QUESTIONS & ANSWERS
,1. As shown in the demand curve below, what happens
Quantity goes up, price
if cost is reduced?
goes down, value accru-
ing to customers goes up,
value captured by the firm
goes up.
2. As shown in the demand curve below, what happens
The demand curve shifts
if operations is able to increase quality?
upward.
3. IDEO is a firm that designs products. (If you haven't
They have found what they
already seen it, below is a link to a video describing
believe to be the best
how they went about designing a new shopping cart.) set of process steps for
Here is a quote from IDEO's founder, Dave Kelley: designing new products,
"The point is, we're not expects in any given area. and they methodically fol-
We're expects on the process of how you design stuff. low those process steps
So we don't care if you give us a toothbrush, a tractor, regardless of the type of
a space shuttle, a chair, it's all the same to us." What product they are design-
does Dave Kelley mean by this? ing.
4. WIP (work-in-progress) is: The name for the inputs
that are not yet outputs
5. In the picture below, the "ouput" of Apple's design The drawings and specifi-
team becomes the "input" for the company Foxconn, cations of the iPhone (but
who then makes the physical iPhone. In this context, not physical iPhones).
what would be the "output" of Apple's design team?
,6. In the picture below, how many different process 6
steps are shown?
7. In the picture below, a "resource" is associated with: With a rectangle (a re-
source is what processes a
job)
8. Why should you study Operations Management? -It teaches you how to
think logically
-It tells you how to make
money
-It tells you how to man-
age transformations from
inputs to outputs
9. Why did we have you read the article about the bas- -Because it shows the val-
ketball player? ue of applying a "scien-
tific" approach to some-
thing.
-Because it shows the im-
portance to finding the
best way of doing some-
thing, and then making
sure you do it that way
"every time."
, -Because it's more inter-
esting than a textbook?
10. In the article about the basketball player, Shane Bat- Operations teaches us to
tier was held up as "doing everything right" but in find the best way to do
the end, Kobe Bryant still made the shot. What is this something, and then do it
intended to teach us? that way every time. This
doesn't guarantee success
every time, but it results in
higher likelihood of suc-
cess.
11. Which of these was the value equation for the Univer- Value = (Quality + Service)
sity of Utah Health System? / Cost
12. 7
