COB 300 OPERATIONS FINAL EXAM
STUDY GUIDE (TCHOMMO)
QUESTIONS & VERIFIED CORRECT
ANSWERS 100%
Mission - correct answer ✔✔Reason for an organization's existence
Mission Statement - correct answer ✔✔States the purpose of the organization
Goals - correct answer ✔✔Provide detail and the scope of the mission
Strategy - correct answer ✔✔- A plan for achieving organizational goals
- If goals = destinations, Strategies = roadmaps
Order Qualifiers - correct answer ✔✔Characteristics that customers perceive as minimum
standards of acceptability for a product or service to be considered as a potential for purchase
Order Winners: - correct answer ✔✔Characteristics of an organization's goods or services that
cause it to be perceived as better than the competition
Core Competency - correct answer ✔✔The one thing a company can do better than its
competitors
Three basic business strategies: - correct answer ✔✔1) Supply Chain Strategy
2) Sustainability Strategy
3) Global Strategy
,Environmental Scanning - correct answer ✔✔Identifies internal strengths and weaknesses
Identifies external opportunities and threats
Four perspectives of a balanced scorecard - correct answer ✔✔1) Customers
2) Internal Business Processes
3) Learning
4) Growth
What is the purpose of a balanced scorecard? - correct answer ✔✔- Using this approach,
managers develop objectives, metrics, and targets for each objective and initiatives to achieve
objectives, and they identify links among the various perspectives.
- Results are monitored and used to improve strategic performance results.
Operations Management - correct answer ✔✔The management of systems or processes that
create goods and/or provide services
Productivity = - correct answer ✔✔Productivity = Outputs/Inputs
Partial Measures: - correct answer ✔✔Output/Single Input; Output/Labor; Output/Capital
Multifactorial Measures: - correct answer ✔✔Output/ Multiple Inputs/ Output/Labor+Machine;
Output/ (Labor + Capital + Energy)
Productivity Growth - correct answer ✔✔(Current Productivity - Previous Productivity)/Previous
Productivity X 100%
Ex. (23-25)/25 X 100% = -8%
, Core competency - correct answer ✔✔The one thing that a firm can do better than its
competitors. The goal is to have a core competency that yields a long-term competitive
advantage to the company.
Contract manufacturer - correct answer ✔✔An organization that performs manufacturing
and/or purchasing needed to produce a product or device not for itself, but asa service to
another firm.
Concurrent Engineering - correct answer ✔✔Emphasizes cross-functional integration and
concurrent development of a product and its associated processes.
Quality function deployment (QFD) - correct answer ✔✔A process that helps a company
determine the product characteristics important to the consumer and to evaluate its own
product in relation to others.
House of quality - correct answer ✔✔A matrix that helps a product design team translate
customer requirements into operating and engineering goals.
Value analysis/value engineering (VA/VE) - correct answer ✔✔Analysis with the purpose of
simplifying products and processes by achieving equivalent or better performance at a lower
cost.
Ecodesign - correct answer ✔✔The incorporation of environmental considerations into the
design and developmentof products or services.These concerns relateto the entire life
cycle,including materials,manufacturing, distribution,and the eventual disposalof waste.
Time-to-market - correct answer ✔✔A measure of product development success. There are two
measures here: the frequency of new product introductions and the time from initial concept to
market introduction.
STUDY GUIDE (TCHOMMO)
QUESTIONS & VERIFIED CORRECT
ANSWERS 100%
Mission - correct answer ✔✔Reason for an organization's existence
Mission Statement - correct answer ✔✔States the purpose of the organization
Goals - correct answer ✔✔Provide detail and the scope of the mission
Strategy - correct answer ✔✔- A plan for achieving organizational goals
- If goals = destinations, Strategies = roadmaps
Order Qualifiers - correct answer ✔✔Characteristics that customers perceive as minimum
standards of acceptability for a product or service to be considered as a potential for purchase
Order Winners: - correct answer ✔✔Characteristics of an organization's goods or services that
cause it to be perceived as better than the competition
Core Competency - correct answer ✔✔The one thing a company can do better than its
competitors
Three basic business strategies: - correct answer ✔✔1) Supply Chain Strategy
2) Sustainability Strategy
3) Global Strategy
,Environmental Scanning - correct answer ✔✔Identifies internal strengths and weaknesses
Identifies external opportunities and threats
Four perspectives of a balanced scorecard - correct answer ✔✔1) Customers
2) Internal Business Processes
3) Learning
4) Growth
What is the purpose of a balanced scorecard? - correct answer ✔✔- Using this approach,
managers develop objectives, metrics, and targets for each objective and initiatives to achieve
objectives, and they identify links among the various perspectives.
- Results are monitored and used to improve strategic performance results.
Operations Management - correct answer ✔✔The management of systems or processes that
create goods and/or provide services
Productivity = - correct answer ✔✔Productivity = Outputs/Inputs
Partial Measures: - correct answer ✔✔Output/Single Input; Output/Labor; Output/Capital
Multifactorial Measures: - correct answer ✔✔Output/ Multiple Inputs/ Output/Labor+Machine;
Output/ (Labor + Capital + Energy)
Productivity Growth - correct answer ✔✔(Current Productivity - Previous Productivity)/Previous
Productivity X 100%
Ex. (23-25)/25 X 100% = -8%
, Core competency - correct answer ✔✔The one thing that a firm can do better than its
competitors. The goal is to have a core competency that yields a long-term competitive
advantage to the company.
Contract manufacturer - correct answer ✔✔An organization that performs manufacturing
and/or purchasing needed to produce a product or device not for itself, but asa service to
another firm.
Concurrent Engineering - correct answer ✔✔Emphasizes cross-functional integration and
concurrent development of a product and its associated processes.
Quality function deployment (QFD) - correct answer ✔✔A process that helps a company
determine the product characteristics important to the consumer and to evaluate its own
product in relation to others.
House of quality - correct answer ✔✔A matrix that helps a product design team translate
customer requirements into operating and engineering goals.
Value analysis/value engineering (VA/VE) - correct answer ✔✔Analysis with the purpose of
simplifying products and processes by achieving equivalent or better performance at a lower
cost.
Ecodesign - correct answer ✔✔The incorporation of environmental considerations into the
design and developmentof products or services.These concerns relateto the entire life
cycle,including materials,manufacturing, distribution,and the eventual disposalof waste.
Time-to-market - correct answer ✔✔A measure of product development success. There are two
measures here: the frequency of new product introductions and the time from initial concept to
market introduction.
