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OM 300 - Test 1 - University of Alabama
Questions with Answers (100% Correct
Answers)
the set of activities that create value in the form of goods and services by
transforming inputs into outputs. it is business functions responsible for
planning, coordinating, and controlling the resources needed to produce a
company's products and services. It is applicable to all firms, whether
manufacturing or service Answer: What is operations management?
Marketing
Production or operations
finance or accounting Answer: OM 3 essential functions
Planning
organizing
staffing
leading
controlling Answer: OM 5 basic management functions
1 - Design of goods and services
2 - managing quality, process and capacity design
3 - location strategy
4 - layout strategy
5 - Human Resources and job design
6 - supply-chain management
, 2
7 - inventory management
8 - scheduling
9 - maintenance Answer: 10 Strategic OM decisions
Unites produced/input used Answer: productivity
labor
capital
management Answer: 3 factors critical to achieve improves productivity
contributes to about 10% of the annual increase Answer: Labor
contributes about 38% of the annual increase Answer: Capital
contributes about 52% of the annual increase Answer: Management
1) reduce costs (labor, taxes, tariffs, etc.)
2) improve supply chain
3) provide better goods and services
4) understand markets
5) learn to improve operations
6) attract and retain global talent Answer: Reasons to globalize
tell an organization where it is going Answer: What is a mission statement
tells the organization how to get there - well detailed missions make strategy
development much easier Answer: what is a strategy
customers, environment, philosophy and values, profitability and growth, and
public image - more than just profit maximization Answer: Factors affecting
mission
OM 300 - Test 1 - University of Alabama
Questions with Answers (100% Correct
Answers)
the set of activities that create value in the form of goods and services by
transforming inputs into outputs. it is business functions responsible for
planning, coordinating, and controlling the resources needed to produce a
company's products and services. It is applicable to all firms, whether
manufacturing or service Answer: What is operations management?
Marketing
Production or operations
finance or accounting Answer: OM 3 essential functions
Planning
organizing
staffing
leading
controlling Answer: OM 5 basic management functions
1 - Design of goods and services
2 - managing quality, process and capacity design
3 - location strategy
4 - layout strategy
5 - Human Resources and job design
6 - supply-chain management
, 2
7 - inventory management
8 - scheduling
9 - maintenance Answer: 10 Strategic OM decisions
Unites produced/input used Answer: productivity
labor
capital
management Answer: 3 factors critical to achieve improves productivity
contributes to about 10% of the annual increase Answer: Labor
contributes about 38% of the annual increase Answer: Capital
contributes about 52% of the annual increase Answer: Management
1) reduce costs (labor, taxes, tariffs, etc.)
2) improve supply chain
3) provide better goods and services
4) understand markets
5) learn to improve operations
6) attract and retain global talent Answer: Reasons to globalize
tell an organization where it is going Answer: What is a mission statement
tells the organization how to get there - well detailed missions make strategy
development much easier Answer: what is a strategy
customers, environment, philosophy and values, profitability and growth, and
public image - more than just profit maximization Answer: Factors affecting
mission
