ADMS 3351 TEST 1 THEORY | STUDY GUIDE
Operations is defined as... - Answers - a transformation process
transformation process is performed ____, and the output is of greater ____ than the
sum of the inputs - Answers - efficiently, value
Success depends upon: - Answers - - operations-related strategy
- processes to deliver products and services
- analytics to support the decisions needed to manage the firm
Operations and supply chain management (OSCM) - Answers - the design, operation,
and improvement of the systems that create and deliver the firm's primary products and
services
Operations and Supply Chain Processes - Answers - - planning
- sourcing (buying something)
- making
- delivering (shipping)
- returning (defects)
The goods-services continuum - Answers - - pure goods (food products)
- core goods (automobiles)
- core services (hotels)
- pure services (university)
Efficiency - Answers - doing something at the lowest possible cost
Effectiveness - Answers - doing the right things to create the most value for the
customer
Value - Answers - the attractiveness of a product relative to its price
Benchmarking - Answers - a process in which one company studies the processes of
another company to identify best practices
Social responsibility (people) - Answers - business practices should be fair to labour, the
community, and the region where the firm conducts business
Economic prosperity (parfait) - Answers - shareholders must be compensated via a
competitive return
Environmental stewardship (planet) - Answers - the company should protect the
environment as much as possible
, Operations Effectiveness - Answers - performing activities in a manner that best
implements strategic priorities at a minimum cost
Straddling - Answers - seeking to match a successful competitor by adding features,
services, or technology to existing activities
- risk strategy
Orders winners - Answers - criteria that differentiate the products or services of one firm
from those of another
- features customers use to choose which product to buy
Order qualifiers - Answers - screening dimensions that permit a firm's products to be
considered as possible candidates for purchase
- features customers will not forego
Risk management framework - Answers - - identify the sources of potential disruptions
- asses the potential impact of the risk
- develop plans to mitigate the risk
Productivity management - Answers - - measuring how well resources are used
- must be compared to something meaningful (last year vs this year)
Partial productivity - Answers - the ratio of some output to a single output
Multifactor productivity - Answers - the ratio of some output to a group of inputs
Total productivity - Answers - the ratio of all outputs to all inputs
Project - Answers - a series of related jobs, usually directed toward some major output
and requiring of a significant period of time to perform
Project management - Answers - planning, directing, and controlling resources to meet
the technical, cost, and time constraints of a project
Pure project - Answers - a self-contained team works full-time on the project
Advantages and disadvantages of pure project - Answers - - project manager has full
authority
- report to one boss
- short communication lines
BUT
- duplication of resources
- organizational goals and policies are ignored
- lack of technology transfer
Operations is defined as... - Answers - a transformation process
transformation process is performed ____, and the output is of greater ____ than the
sum of the inputs - Answers - efficiently, value
Success depends upon: - Answers - - operations-related strategy
- processes to deliver products and services
- analytics to support the decisions needed to manage the firm
Operations and supply chain management (OSCM) - Answers - the design, operation,
and improvement of the systems that create and deliver the firm's primary products and
services
Operations and Supply Chain Processes - Answers - - planning
- sourcing (buying something)
- making
- delivering (shipping)
- returning (defects)
The goods-services continuum - Answers - - pure goods (food products)
- core goods (automobiles)
- core services (hotels)
- pure services (university)
Efficiency - Answers - doing something at the lowest possible cost
Effectiveness - Answers - doing the right things to create the most value for the
customer
Value - Answers - the attractiveness of a product relative to its price
Benchmarking - Answers - a process in which one company studies the processes of
another company to identify best practices
Social responsibility (people) - Answers - business practices should be fair to labour, the
community, and the region where the firm conducts business
Economic prosperity (parfait) - Answers - shareholders must be compensated via a
competitive return
Environmental stewardship (planet) - Answers - the company should protect the
environment as much as possible
, Operations Effectiveness - Answers - performing activities in a manner that best
implements strategic priorities at a minimum cost
Straddling - Answers - seeking to match a successful competitor by adding features,
services, or technology to existing activities
- risk strategy
Orders winners - Answers - criteria that differentiate the products or services of one firm
from those of another
- features customers use to choose which product to buy
Order qualifiers - Answers - screening dimensions that permit a firm's products to be
considered as possible candidates for purchase
- features customers will not forego
Risk management framework - Answers - - identify the sources of potential disruptions
- asses the potential impact of the risk
- develop plans to mitigate the risk
Productivity management - Answers - - measuring how well resources are used
- must be compared to something meaningful (last year vs this year)
Partial productivity - Answers - the ratio of some output to a single output
Multifactor productivity - Answers - the ratio of some output to a group of inputs
Total productivity - Answers - the ratio of all outputs to all inputs
Project - Answers - a series of related jobs, usually directed toward some major output
and requiring of a significant period of time to perform
Project management - Answers - planning, directing, and controlling resources to meet
the technical, cost, and time constraints of a project
Pure project - Answers - a self-contained team works full-time on the project
Advantages and disadvantages of pure project - Answers - - project manager has full
authority
- report to one boss
- short communication lines
BUT
- duplication of resources
- organizational goals and policies are ignored
- lack of technology transfer
