MGMT 300 STUDY GUIDE || QUESTIONS WITH 100%
ACTUAL SOLUTIONS!!
Three Issues at the Core of Operations Management correct answers 1. Efficiency: How well
resources are used in creating output.
2. Quality: The quality of goods & services that create customer satisfaction.
3. Cost: The cost of operations
Goods correct answers Good: Physical product that a person can see, touch, or consume
1. Durable good
2. Non-durable good
Service correct answers Service: Any primary or complementary activity that does not
directly produce a physical product.
Service represents the non-goods part of a transaction between a buyer(customer) and the
seller (supplier).
Goods and service differences correct answers Differences:
1. Goods are tangible while services are intangible
2. Customers participate in many service processes, activities, and transactions
3. Demand for services is more difficult to predict than the demand for goods
4. Services cannot be stored as physical inventory.
5. Service management skills are paramount to a successful service encounter
6. Service facilities need to be in close proximity to the customer
7.Patents do not protect services
Durable Goods ( read text example) correct answers Durable good: Product that does not
quickly wear out and typically lasts at least three years (Examples: vehicles, dishwashers, and
furniture)
Non durable Goods ( read text example) correct answers Non-durable good: No longer useful
once it's used, perishable and lasts for less than three years (Examples: toothpaste, clothing,
and food)
Good Providing Firms correct answers Goods-producing firms are found in industries such as
manufacturing, farming, forestry, mining, construction, and fishing.
Service Providing Firms correct answers Service-providing firms are found in industries such
as banking, lodging, education, health care, and government.
Surface Management The 3 core skills needed correct answers 1. Service management
integrates marketing,
2. human resources, and
3. operations functions to plan, create, and deliver goods and services, and their associated
service encounters.
Surface Encounter correct answers A service encounter is an interaction between the
customer and the service provider.
, Examples include: making a hotel reservation, asking a grocery store employee where to find
the pickle, or making a purchase on a website.
Service encounters consist of one or more moments of truth - any episodes, transactions, or
experiences in which a customer comes into contact with any aspect of the delivery system,
however remote, and therefore has an opportunity to form an impression.
Customer Benefit Package correct answers is a clearly defined set of tangible (goods-content)
and intangible (service-content) features that the customer recognizes, pays for, uses, or
experiences.
Combination of goods and services configured in a certain way to provide value to
customers.
Consists of a Primary Good or Service, coupled with Peripheral Goods and/or Services, and
sometimes a Variant.
Examples: personal checking account (primary service), with designer check and special
credit card (peripheral goods), and online bill payment (peripheral service).
A Primary Good or Service correct answers Is the core offering that attracts customers and
responds to their basic needs.
EXAMPLE ; the primary service of a personal checking account is convenient financial
transactions.
Peripheral Good or Services correct answers Are those that are not essential to the primary
good or service but enhance it.
EXAMPLE :
A Variant correct answers Is a CBP feature that departs from the standard CBP and is
normally location or firm specific.
EXAMPLE :
3 Processes correct answers 1. Core Process : Focused on producing or delivering an
organizations primary goods or services that create value for customers, such as filling and
shipping a customer's order, assembling a dishwasher or providing a home mortgage.directly
create and deliver goods and services. For example, a surgery at a hospital
2. Support Processes : Such as purchasing materials and supplies used in the manufacturing,
managing inventory, installation, health benefits, technology acquisition, day care on site
services and research and development. "behind the scene", support core processes. For
example, lab testing, blood work
3. General Management Processes: including acounting and information systems, human
resource management, and marketing.needed for efficient and effective business
performance. For example, human resources management.(hr)
Seven Eras of Operation Management correct answers 1. Cost and Efficiency
2. focused on Cost
3. Customization and Design
4. Time
5. Service and Value
6. Sustainabilty
