MGT 314 Buchanan Final Exam Questions with Complete Solutions, Rated A+

All organizations, including service firms such as banks and hospitals, have a product function. T/F - True Which of the following are the primary functions of all organizations? - Marketing, operations, and finance /accounting The operations manager performs the management activities of planning, organizing, staffing, leading, and controlling of the OM function. T/F - True Which of the following would not be an operations function in a fast-food restaurant? - Advertiing and promotion Reasons to study Operations Management include - Studying why people organize themselves for production enterprise AND learning about a costly part of the enterprise The five elements in the management process are - plan, organize, staff, lead, and control The Ten Critical Decisions of Operations Management include - All of the above Layout strategy Maintenance process and capacity design managing quality Which is not true regarding differences between goods and services? - Goods tend to have higher customer interaction than services Manufacturing organizations have ten strategic OM decisions, while service organizations have only eight. T/F - False Key Success Factors are those activities that are key to achieving competitive advantage. - True The impact of strategies on the general direction and basic character of a company is - long range The fundamental purpose of an organization's mission statement is to - define the organization's purpose in society The three steps of the operations manager's job, in order, are: - develop the strategy, establish the organizations structure, find the right staff Which of the following is not an element of the management process? - Pricing Forecasts - are rarely perfect Forecasts are usually classified by time horizon into three categories - short range, medium range, and long range Short-range forecasting tends to be __________ than longer range forecasts - more accurate Operations management is part of a production system consisting of: Inputs-Processing-Outputs. Which of the following examples depict accurately this production system? - Furniture manufacturer: Wood- Sanding-Chair Which fo the following is not a characteristic of service operations? - All of the above Many services maintain records of sales noting - All of the above Which of the following statements abiut trends in operations management is FALSE? - Enviornmentally- sensitive production is giving way to low-cost focus. An operations manager's ethical responsibilities - extends from developing products to production to honoring stakeholders committments