Business Management 3130 Midterm
with correct questions and answers
2025/2026.
operations management - correct answers the process that effectively produce, transform, and
deliver a product or service (how things get done) (every business has this)
finances as they move in a process from supplier to manufacturer to wholesaler to retailer to
consumer. involves coordinating and integrating these flows both within and among companies
process - correct answers a system of activities that transforms inputs into valuable outputs
(occurs in many different ways)
5 distinct management processes - correct answers 1. planning
2. sourcing
3. making (transformation process)
4. delivering (logistics)
5. returning (bringing things back from customer)
competitive capabilities - correct answers the unique and valued skills, processes, and
knowledge the firm is able to actually achieve and use to satisfy customers
sustainability - correct answers meeting today's needs without compromising the ability to
meet tomorrow's
, triple bottom line (TBL) - correct answers evaluating the firm against economic social, and
environmental criteria
the 3 P's - correct answers 1. people
2. profit
3. planet
strategy - correct answers determines which competitive dimensions an organization pursues
operations and supply chain strategy - correct answers setting goals and policies and creating
plans for using the firm's resources to support the organizational strategy
competitive dimensions (priorities) - correct answers what the company WOULD LIKE to achieve
and how the company would like to compete and beat their competitors
5 competitive dimensions - correct answers 1. cost
2. quality
3. time (delivery, speed)
4. flexibility (customization, variety)
5. others (returns, service and support, certifications, environmental concerns)
order winners - correct answers characteristics causing customers to prefer you over your
competitors
order qualifiers - correct answers characteristics you need to have to be considered by potential
customers (ex. cleanliness), minimal capability to be in market
risk - correct answers any source of unplanned disruption
with correct questions and answers
2025/2026.
operations management - correct answers the process that effectively produce, transform, and
deliver a product or service (how things get done) (every business has this)
finances as they move in a process from supplier to manufacturer to wholesaler to retailer to
consumer. involves coordinating and integrating these flows both within and among companies
process - correct answers a system of activities that transforms inputs into valuable outputs
(occurs in many different ways)
5 distinct management processes - correct answers 1. planning
2. sourcing
3. making (transformation process)
4. delivering (logistics)
5. returning (bringing things back from customer)
competitive capabilities - correct answers the unique and valued skills, processes, and
knowledge the firm is able to actually achieve and use to satisfy customers
sustainability - correct answers meeting today's needs without compromising the ability to
meet tomorrow's
, triple bottom line (TBL) - correct answers evaluating the firm against economic social, and
environmental criteria
the 3 P's - correct answers 1. people
2. profit
3. planet
strategy - correct answers determines which competitive dimensions an organization pursues
operations and supply chain strategy - correct answers setting goals and policies and creating
plans for using the firm's resources to support the organizational strategy
competitive dimensions (priorities) - correct answers what the company WOULD LIKE to achieve
and how the company would like to compete and beat their competitors
5 competitive dimensions - correct answers 1. cost
2. quality
3. time (delivery, speed)
4. flexibility (customization, variety)
5. others (returns, service and support, certifications, environmental concerns)
order winners - correct answers characteristics causing customers to prefer you over your
competitors
order qualifiers - correct answers characteristics you need to have to be considered by potential
customers (ex. cleanliness), minimal capability to be in market
risk - correct answers any source of unplanned disruption
