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OM 300 Final Exam 2024/2025 UA Chilcutt - Questions And Complete Answers
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OM 300 Final Exam 2024/2025 UA Chilcutt - Questions And Complete Answers
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OM 300 Final Exam 2024/2025 UA Chilcutt - QuestionsAnd Complete Answers
Strategic Decisions in OM Right Ans - The base - People, product, process
The place - Location and Layout
The stuff - Quality management, Inventory management, supply chain
management
The face - Scheduling and maintenance
Basic Business Functions Right Ans - 1) Marketing: generates demand
2) production/operations: creates the product
3) finance/accounting: tracks how well the organization is doing , pays bills,
and collects the money
Production Right Ans - The creation of goods and services.
Productivity Right Ans - ratio of outputs (goods and services) divided by
one or more inputs (such as labor, capital, or management.)
Multi-factor Productivity Right Ans - Output / Labor + Material + Energy +
Capital + Miscellaneous
Indicates the ratio of many or all resources (inputs) to the goods and services
produced (outputs)
Competitive Advantage Right Ans - The creation of a unique advantage
over competitors
Better, cheaper, faster
Product Life Cycle Right Ans - Introduction, growth, maturity, decline (Find
the graph)
Outsourcing Right Ans - A decision by a corporation to turn over much of
the responsibility for production to independent suppliers.
-Legal services
, -IT services
-Travel services
-Payroll
-Production
-Surgery
Core Competencies Right Ans - - A defining capability or advantage that
distinguishes an enterprise from its competitors.
*DO NOT OUTSOURCE THESES
Critical Path Right Ans - The computed longest time path(s) through a
network
ABCs of Good Spreadsheet Modeling Right Ans - All your excel work must
Be
Correct
Documented
Engineered,
Flexible.
Project Manager Right Ans - Coordinate activities w/ other departments
and reports directly to top management
Responsible for ensuring:
1) all necessary activities are finished in proper sequence and on time
2) project stays within budget
3) project meets quality goals
4) people assigned to project receive motivation, direction, and info needed to
do their jobs
Crash a Project Right Ans - Shortening the Time of the Project by increasing
the number of resources usually in the most cost effective manner.
Always choose the cheapest solution.
- If The amount by which an activity is crashed is, in fact, permissible
- Taken together, the shortened activity durations will enable us to finish the
project by the due date
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