MSIS 3223 Test 1 Questions and Answers 100% Accurate
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Module
MSIS 3223
Institution
MSIS 3223
MSIS 3223 Test 1 Questions and Answers 100% AccurateMSIS 3223 Test 1 Questions and Answers 100% AccurateMSIS 3223 Test 1 Questions and Answers 100% AccurateMSIS 3223 Test 1 Questions and Answers 100% Accurate
Operations management - ANSWER-- The management of processes or systems that create goods...
MSIS 3223 Test 1 Questions and
Answers 100% Accurate
Operations management - ANSWER-- The management of processes or systems that
create goods and/or provide services.
- inputs transformed into outputs (goods or services)
- plays role in supply chain
- works with marketing and finance
It creates _____ - ANSWER-VALUE added
- research and investment, salaries, creating profits
Classifications on Productive Systems - ANSWER-1. Degree of Standardization (highly
standardized or highly customized)
2. Type of Operation (project, repetitive)
3. Tangible good or Intangible act
Key functions on the supply side are: - ANSWER-- operations and supply chains
Key functions on the demand side: - ANSWER-- sales and marketing
Too little supply leads to... - ANSWER-- lost opportunity and customer dissatisfaction
Three basic functional areas of organization: - ANSWER-1. Finance
2. Marketing
3. Operation
Need support and input from all areas for Operation to produce goods and services
Operations and Supply Chains are.... - ANSWER-- intrinsically linked and no business
organization could exist without both
How many percent of jobs involve Operations Management? - ANSWER-50%
Eli Whitney came up with the concept of... - ANSWER-- interchangeable parts
Adam Smith came up with the concept of... - ANSWER-- division of labor
Feedback in the transformation process is defined as: - ANSWER-- measurements
taken at various points in the transformation process
- compared with previously established standards to determine whether corrective
action is needed (control)
, Control: - ANSWER-- The comparison of feedback against previously established
standards to determine if corrective action is needed within the transformation process
Value-Added equation - ANSWER-- Value or Price of Outputs - Cost of Inputs.
In Nonprofits, the value of outputs is their ________ - ANSWER-- value to society
Dates of Scientific Management: - ANSWER-- (1875-1925)
Scientific Management's Key events: - ANSWER-- "Systematic Planning"
- "Control Systems"
- "Scientific or Analytical Investigation"
- "Standards as Benchmarks"
Money from Value-Added is used for things like _____, _____, _____, ______ -
ANSWER-- R&D, Investments, salaries, and profit.
Watt came up with the concept of... - ANSWER-- new power sources (The steam
engine)
What are the Post Civil War dates? - ANSWER-- (1865-1900)
Events of Post Civil War - ANSWER-- Mass exodus of farm laborers-labor pool
- Modern capital formation-joint stock co.
- Entrepreneurial ideas-Morgan,etc.
- Rapid expansion of West-railroad
----Great Productive Explosion----
Scientific Management's Key People: - ANSWER-F.W. Taylor--efficiency and
productivity
F. Gilbreth--motion studies
L. Gilbreth--fatigue studies (cheaper by the dozen)
H. Gantt--scheduling charts
H. Ford--auto assembly
Systematic Planning - ANSWER-
Control Systems - ANSWER-
Scientific or Analytical Investigation - ANSWER-
Just-in-time manufacturing - ANSWER-
Lean production tools - ANSWER-
TQM - ANSWER-
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