100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Test Bank for- Operations and Supply Chain Management The Core 16th Edition By Jacobs, Chase {All Chapters, 100% Original Verified, A+ Grade] COMPLETE GUIDE$21.99
Add to cart
Test Bank for- Operations and Supply Chain Management The Core 16th Edition By Jacobs, Chase {All Chapters, 100% Original Verified, A+ Grade] COMPLETE GUIDE
Test Bank for- Operations and Supply Chain Management The Core 16th Edition By Jacobs, Chase {All Chapters, 100% Original Verified, A+ Grade] COMPLETE GUIDETest Bank for- Operations and Supply Chain Management The Core 16th Edition By Jacobs, Chase {All Chapters, 100% Original Verified, A+ Grade] C...
1. Efficiency means doing the right things to create the most value for the company.
` ` ` ` ` ` ` ` ` ` ` ` `
FALSE
Efficiency means doing something at the lowest possible cost.
` ` ` ` ` ` ` `
2. Effectiveness means doing the right things to create the most value for the company.
` ` ` ` ` ` ` ` ` ` ` ` `
TRUE
Effectiveness means doing the right things to create the most value for the company.
` ` ` ` ` ` ` ` ` ` ` ` `
AACSB: Analytical Thinking ` `
Blooms:
RememberDiffic ` `
ulty: 1 Easy ` `
Learning Objective: 01-04 Evaluate the efficiency of a
` ` ` ` ` ` `
firm.Topic: Efficiency, Effectiveness, and
` ` ` ` `
Value `
3. A doctor completes a surgical procedure on a patient without error. The patient dies anyway. In operations management terms,
` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `
wecould refer to this doctor as being efficient but not effective.
` ` ` ` ` ` ` ` ` ` ` `
TRUE
Efficiency means doing something at the lowest possible cost. Effectiveness means doing the right things to create the most value.
` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `
Thedoctor performed the surgery without error. Because the patient died, no value was created.
` ` ` ` ` ` ` ` ` ` ` ` ` ` `
AACSB: Analytical Thinking ` `
Blooms:
AnalyzeDifficulty: 2 ` ` `
Medium `
Learning Objective: 01-04 Evaluate the efficiency of a
` ` ` ` ` ` `
firm.Topic: Efficiency, Effectiveness, and
` ` ` ` `
Value `
4. A worker can be efficient without being effective.
` ` ` ` ` ` `
TRUE
Efficiency means doing something at the lowest possible cost. Effectiveness means doing the right things to create the most value.These
` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `
are different things.
` ` `
AACSB: Analytical `
Thinking Blooms: ` `
Understand Difficult ` `
y: 2 Medium ` `
Learning Objective: 01-04 Evaluate the efficiency of a
` ` ` ` ` ` `
firm. Topic: Efficiency, Effectiveness, and
` ` ` ` `
, 5. A process can be effective without being efficient.
` ` ` ` ` ` `
TRUE
Often, maximizing effectiveness and efficiency at the same time creates conflict between the two goals. "Being efficient" at the customer
` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `
service counter at a local store or bank means using the fewest number of clerks possible at the counter. Being effective,though, means
` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `
minimizing the amount of time customers need to wait in line.
` ` ` ` ` ` ` ` ` ` `
AACSB: Analytical `
Thinking Blooms: ` `
Understand Difficult ` `
y: 2 Medium ` `
Learning Objective: 01-04 Evaluate the efficiency of a
` ` ` ` ` ` `
firm. Topic: Efficiency, Effectiveness, and ` ` ` ` `
Value `
6. Operations and supply chain management is defined as the design, operation, and improvement of the systems that create
` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `
anddeliver the firm's primary products and services.
` ` ` ` ` ` ` `
TRUE
Operations and supply chain management is defined as the design, operation, and improvement of the systems that create and deliverthe
` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `
firm's primary products and services.
` ` ` ` `
AACSB: Analytical Thinking ` `
Blooms:
RememberDiffic ` `
ulty: 1 Easy ` `
Learning Objective: 01-01 Identify the elements of operations and supply chain management. (OSCM)
` ` ` ` ` ` ` ` ` ` ` `
Topic: What Is Operations and Supply Chain Management? ` ` ` ` ` ` `
7. The term "value" refers to the relationship between quality and the price paid by the consumer.
` ` ` ` ` ` ` ` ` ` ` ` ` ` `
TRUE
Related to efficiency and effectiveness is the concept of value, which can be metaphorically defined as quality divided by price.
` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `
AACSB: Analytical Thinking ` `
Blooms:
RememberDiffic ` `
ulty: 1 Easy ` `
Learning Objective: 01-04 Evaluate the efficiency of a
` ` ` ` ` ` `
firm.Topic: Efficiency, Effectiveness, and
` ` ` ` `
Value `
8. Attempting to balance the desire to efficiently use resources while providing a highly effective service may create conflict betweenthe
` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `
two goals.
` `
TRUE
Often maximizing effectiveness and efficiency at the same time creates conflict between the two goals.
` ` ` ` ` ` ` ` ` ` ` ` ` `
AACSB: Analytical Thinking ` `
Blooms:
AnalyzeDifficulty ` `
: 1 Easy ` `
Learning Objective: 01-04 Evaluate the efficiency of a
` ` ` ` ` ` `
firm.Topic: Efficiency, Effectiveness, and
` ` ` ` `
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller QUIVERS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $21.99. You're not tied to anything after your purchase.