OM 300 - Exam 1 | The University of Alabama | UPDATED Questions
with 100% Verified Answers
Question: What is operations management?
Answer:
the set of activities that creates value in the form of goods and services by transforming inputs into outputs
Question: What are the three essential functions of an organization?
Answer:
1. Marketing 2. Finance/Accounting 3. Production/Operations
Question: What is the supply chain?
Answer:
a global network of organizations and activities that supplies a firm with goods and services
Question: What are the 10 strategic OM decisions?
Answer:
1. Design of goods and services 2. Managing quality and statistical process control 3. Process and capacity
strategies 4. Location strategies 5. Layout strategies 6. Human resources, job design and work measurement 7.
Supply chain management 8. Inventory management 9. Scheduling 10. Maintenance PUT ON SHEET
Question: What types of decisions do Operation Managers make?
Answer:
The Base: People, Product Process The Place: Location, Layout The Stuff: Quality Management, Inventory
Management, Supply Chain Management The Face: Scheduling, Maintenance PUT ON SHEET
Question: What is the difference between goods and services?
Answer:
Goods are tangible and services are intangible
Question: What is productivity?
Answer:
the ratio of outputs (goods and services) divided by the inputs (resources such as labor and capital) [Ratio of
outputs / inputs]
Question: How is productivity used in the service sector?
, Answer:
Productivity is hard in the service sector bc service in intangible. It is hard to measure and different people have
different opinions/expectations.
Question: What three factors affect productivity?
Answer:
1. Quality 2. External elements 3. Precise units PUT ON SHEET
Question: What is globalization?
Answer:
means customers, talent, and supplier are worldwide
Question: What are four examples of companies that have globalized?
Answer:
1. Boeing - they are competitive bc both its sales and supply chain are world wide 2. Italy's Benetton - moves
inventory to stores around the world faster than its competition 3. Sony - purchases components from a supply
chain that extends to Thailand, Malaysia, and other places around the world for assembly of its electronic
products 4. Volvo - a Swedish company, was purchased by a Chinese company, Geely, but Volvo assembles
cars in Sweden, Belgium and China (Video examples = Texas Instruments, Caterpillar, and Otis Elevator) PUT
ON SHEET
Question: What are the six reasons why companies chose to expand globally?
Answer:
1. Improve the supply chain 2. Reduce costs and exchange rate risks 3. Improve operations 4. Understand
markets 5. Improve products 6. Attract and retain global talent PUT ON SHEET
Question: How do companies go about developing strategies?
Answer:
1. Identify key success factors (KSF) 2. Understand core competencies 3. Build and staff the organization 4.
Integrate OM with other activities PUT ON SHEET
Question: How do companies achieve competitive advantage?
with 100% Verified Answers
Question: What is operations management?
Answer:
the set of activities that creates value in the form of goods and services by transforming inputs into outputs
Question: What are the three essential functions of an organization?
Answer:
1. Marketing 2. Finance/Accounting 3. Production/Operations
Question: What is the supply chain?
Answer:
a global network of organizations and activities that supplies a firm with goods and services
Question: What are the 10 strategic OM decisions?
Answer:
1. Design of goods and services 2. Managing quality and statistical process control 3. Process and capacity
strategies 4. Location strategies 5. Layout strategies 6. Human resources, job design and work measurement 7.
Supply chain management 8. Inventory management 9. Scheduling 10. Maintenance PUT ON SHEET
Question: What types of decisions do Operation Managers make?
Answer:
The Base: People, Product Process The Place: Location, Layout The Stuff: Quality Management, Inventory
Management, Supply Chain Management The Face: Scheduling, Maintenance PUT ON SHEET
Question: What is the difference between goods and services?
Answer:
Goods are tangible and services are intangible
Question: What is productivity?
Answer:
the ratio of outputs (goods and services) divided by the inputs (resources such as labor and capital) [Ratio of
outputs / inputs]
Question: How is productivity used in the service sector?
, Answer:
Productivity is hard in the service sector bc service in intangible. It is hard to measure and different people have
different opinions/expectations.
Question: What three factors affect productivity?
Answer:
1. Quality 2. External elements 3. Precise units PUT ON SHEET
Question: What is globalization?
Answer:
means customers, talent, and supplier are worldwide
Question: What are four examples of companies that have globalized?
Answer:
1. Boeing - they are competitive bc both its sales and supply chain are world wide 2. Italy's Benetton - moves
inventory to stores around the world faster than its competition 3. Sony - purchases components from a supply
chain that extends to Thailand, Malaysia, and other places around the world for assembly of its electronic
products 4. Volvo - a Swedish company, was purchased by a Chinese company, Geely, but Volvo assembles
cars in Sweden, Belgium and China (Video examples = Texas Instruments, Caterpillar, and Otis Elevator) PUT
ON SHEET
Question: What are the six reasons why companies chose to expand globally?
Answer:
1. Improve the supply chain 2. Reduce costs and exchange rate risks 3. Improve operations 4. Understand
markets 5. Improve products 6. Attract and retain global talent PUT ON SHEET
Question: How do companies go about developing strategies?
Answer:
1. Identify key success factors (KSF) 2. Understand core competencies 3. Build and staff the organization 4.
Integrate OM with other activities PUT ON SHEET
Question: How do companies achieve competitive advantage?
