OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS
1. Organizations
Marketin
Have 3
g
Basic
Operatio
Functions
ns
2. What is Opera- Finance
tions?
The part of a business organization that is
responsible for producing goods or services
Influences all of the rest of the
3. What is Oper- organization The actual doing part of the
ations Manage-
ment? business process
4. Operations Man- The management of systems or processes that
agement affects: create
goods and/or provide services
Companies' ability to compete
5. Why study OM? Every aspect of business affects or is affected by
opera- tions
There is a significant amount of interaction and
collabo- ration amongst the functional areas
6. The Operations The creation of goods and services through the
Function transfor- mation of inputs into outputs
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,OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS
7. Feedback measurements taken at various points in the
transforma- tion process
2/
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,OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS
8. Control The comparison of feedback against previously
estab-
lished standards to determine if corrective action is
need- ed.
9. Value Added value/price of output - cost of input
10. Processes ( M a nO- perations & Supply Chains vs Sales and
marketing
aging to Meet De-
mand) Supply e Demand is wastefully costly
11. Processes (Vari-Variations can be disruptive to operations and
processes.
ation)
They may result in additional costs, delays and
shortages, poor quality, and inefficient work
systems.
physical items that include raw materials, parts,
sub- assemblies, and final products.
Automobi
le
Computer
Oven
Shampoo
13. Service act-oriented
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, OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS
activities that provide some combination of time,
location, form or psychological value.
Air travel
Education
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