MKTG 372 Exam 1 (100% Accurate)

Efficiency means doing the right things to create the most value for the company. correct answers False Effectiveness means doing the right things to create the most value for the company. correct answers True A doctor completes a surgical procedure on a patient without error. The patient dies anyway. In operations management terms, we could refer to this doctor as being efficient but not effective. correct answers True A worker can be efficient without being effective. correct answers True A process can be effective without being efficient. correct answers True Operations and supply chain management is defined as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services. correct answers True The term "value" refers to the relationship between quality and the price paid by the consumer. correct answers True Attempting to balance the desire to efficiently use resources while providing a highly effective service may create conflict between the two goals. correct answers True Central to the concept of operations strategy are the notions of operations focus and trade-offs. correct answers True OSCM is concerned with management of the trickiest parts of the system that produces a good or delivers a service. correct answers False OSCM is a functional field of business with clear line management responsibilities. correct answers True The supply network as can be thought of as a pipeline through which cash, material and information flows. correct answers False Supply networks cannot be constructed for every product or service. correct answers False "Operations" refers to manufacturing and service processes used to transform resources employed by a firm into products desired by customers. correct answers True "Supply chain" refers to processes that move information and material to and from the manufacturing and service processes of the firm. correct answers True