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mgsc 395 exam 1 Questions With Solutions
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  • MGSC 395

mgsc 395 exam 1 Questions With Solutions Internal Customers one or more employees or processes that rely on inputs from other employees or processes in order to perform their work External Suppliers the businesses or individuals who provide the resources, services, products, and materials for...

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  • October 19, 2024
  • 23
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgsc 395 exam 1 questions with solutions

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  • MGSC 395
  • MGSC 395

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mgsc 395 exam 1 Questions With Solutions

Internal Customers one or more employees or processes that rely on inputs from other

employees or processes in order to perform their work




External Suppliers the businesses or individuals who provide the resources, services,

products, and materials for the firm's short-term and long-term needs




Internal Suppliers the employees or processes that supply important information or

materials to a firm's processes




Nested process the concept of a process within a process




Core process a set of activities that delivers value to external customers




Supplier relationship process a process that selects the suppliers of services, materials, and

information and facilitates the timely and efficient flow of these items into the firm

, mgsc 395 exam 1 Questions With Solutions
New service/product development process a process that designs and develops new

services or products from inputs received from external customer specifications or from the

market in general through the customer relationship process




Order fulfillment process a process that includes the activities required to produce and

deliver the service or product to the external customer




Customer relationship process a process that identifies, attracts, and builds relationships

with external customers, and facilitates the placement of orders by customers, sometimes

referred to as customer relationship management




Support process a process that provides vital resources and inputs to the core processes

and therefore is essential to the management of the business




Operations strategy the means by which operations implements the firm's corporate

strategy and helps to build a customer driven firm




Environmental scanning the process by which managers monitor trends in the

environment for potential opportunities or threats. A crucial reason for environmental scanning is

to stay ahead of the competition

, mgsc 395 exam 1 Questions With Solutions

Developing a corporate strategy the four considerations are- (1) Monitoring and adjusting

to changes in the business environment, (2) Identifying and developing the firm's core

competencies, (3) developing the firm's core processes, and (4) developing the firm's global

strategies




Productivity = output/input




Labor productivity = output/input = policies processed/employee hours (employees x

hours)




Multifactor productivity = value of output/total cost




Core competencies the unique resources and strengths that an organization's management

considers when formulating strategy




Developing core competencies include the following (1) workforce, (2) facilities, (3)

market and financial know-how, (4) systems and technology

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