Operations Management Final Exam Newest 2026
Questions and Correct Detailed Answers Already
Graded A+
What is operations? - CORRECT ANSWER-The part of a business organization
that is responsible for producing goods or services
Operations management - CORRECT ANSWER-The management of systems or
processes
Goals - CORRECT ANSWER-●Provide detail and the scope of the mission
●Goals can be viewed as organizational destinations
●Goals serve as the basis for organizational strategies
Strategy - CORRECT ANSWER-●A plan for achieving organizational goals
●Serves as a roadmap for reaching the organizational destinations
Organizational strategies - CORRECT ANSWER-●Overall strategies that relate
to the entire organization
●Support the achievement of organizational goals and mission
,●Functional level strategies - CORRECT ANSWER-●Strategies that relate to
each of the functional areas and that support achievement of the organizational
strategy
Tactics - CORRECT ANSWER-●The methods and actions taken to accomplish
strategies
●The "how to" part of the process
Supply Chain - CORRECT ANSWER-a sequence of activities and organizations
involved in producing and delivering a good or service
Feedback - CORRECT ANSWER-measurements taken at various points in the
transformation process
Control - CORRECT ANSWER-The comparison of feedback against previously
established standards to determine if corrective action is needed.
Role of the Operations Manager - CORRECT ANSWER-A primary function of
the operations manager is to guide the system by decision making.
,Performance Metrics - CORRECT ANSWER-All managers use metrics to manage
and control operations
Analysis of Trade-Offs - CORRECT ANSWER-A trade-off is giving up one thing in
return for something else
Carrying more inventory (an expense) in order to achieve a greater level of
customer service
Pareto Phenomenon - CORRECT ANSWER-80/20 rulea few factors account for
a high percentage of occurrence of some event(s)
Influence of Japanese Manufacturers - CORRECT ANSWER-Refined and
developed management practices that increased productivity
Credited with fueling the "quality revolution"
Just-in-Time (JIT) production
, Why Some Organizations Fail - CORRECT ANSWER-1.Neglecting operations
strategy
2.Lack effective SWOT analysis
3.Pursue short -term profits - lack R&D & innovation
The mission statement - CORRECT ANSWER-serves as the basis for
organizational goals
Core Competencies - CORRECT ANSWER-The special attributes or abilities that
give an organization a competitive edge
Productivity - CORRECT ANSWER-A measure of the effective use of resources,
usually expressed as the ratio of output to input
Productivity measures are useful for - CORRECT ANSWER-●Tracking an
operating unit's performance over time
●Judging the performance of an entire industry or country
Forecast - CORRECT ANSWER-a statement about the future value of a variable
of interest
Questions and Correct Detailed Answers Already
Graded A+
What is operations? - CORRECT ANSWER-The part of a business organization
that is responsible for producing goods or services
Operations management - CORRECT ANSWER-The management of systems or
processes
Goals - CORRECT ANSWER-●Provide detail and the scope of the mission
●Goals can be viewed as organizational destinations
●Goals serve as the basis for organizational strategies
Strategy - CORRECT ANSWER-●A plan for achieving organizational goals
●Serves as a roadmap for reaching the organizational destinations
Organizational strategies - CORRECT ANSWER-●Overall strategies that relate
to the entire organization
●Support the achievement of organizational goals and mission
,●Functional level strategies - CORRECT ANSWER-●Strategies that relate to
each of the functional areas and that support achievement of the organizational
strategy
Tactics - CORRECT ANSWER-●The methods and actions taken to accomplish
strategies
●The "how to" part of the process
Supply Chain - CORRECT ANSWER-a sequence of activities and organizations
involved in producing and delivering a good or service
Feedback - CORRECT ANSWER-measurements taken at various points in the
transformation process
Control - CORRECT ANSWER-The comparison of feedback against previously
established standards to determine if corrective action is needed.
Role of the Operations Manager - CORRECT ANSWER-A primary function of
the operations manager is to guide the system by decision making.
,Performance Metrics - CORRECT ANSWER-All managers use metrics to manage
and control operations
Analysis of Trade-Offs - CORRECT ANSWER-A trade-off is giving up one thing in
return for something else
Carrying more inventory (an expense) in order to achieve a greater level of
customer service
Pareto Phenomenon - CORRECT ANSWER-80/20 rulea few factors account for
a high percentage of occurrence of some event(s)
Influence of Japanese Manufacturers - CORRECT ANSWER-Refined and
developed management practices that increased productivity
Credited with fueling the "quality revolution"
Just-in-Time (JIT) production
, Why Some Organizations Fail - CORRECT ANSWER-1.Neglecting operations
strategy
2.Lack effective SWOT analysis
3.Pursue short -term profits - lack R&D & innovation
The mission statement - CORRECT ANSWER-serves as the basis for
organizational goals
Core Competencies - CORRECT ANSWER-The special attributes or abilities that
give an organization a competitive edge
Productivity - CORRECT ANSWER-A measure of the effective use of resources,
usually expressed as the ratio of output to input
Productivity measures are useful for - CORRECT ANSWER-●Tracking an
operating unit's performance over time
●Judging the performance of an entire industry or country
Forecast - CORRECT ANSWER-a statement about the future value of a variable
of interest
