Exam (elaborations)
ISQS 3344 Exam #1 Questions and Answers Verified by Expert 100% Correct | Updated
- Course
- Institution
ISQS 3344 Exam #1 Questions and Answers Verified by Expert 100% Correct | Updated
[Show more]
Content preview
ISQS 3344 Exam #1 Questions and AnswersVerified by Expert 100% Correct | Updated 2024-
2025
What employers want: - ANSWER -excellent written & verbal communication
skills
-possess entrepreneurial spirit
-strong problem solving & analytical skills
-must thrive in a team environment & work well with others
OM defined - ANSWER The science and art of ensuring that goods and services
are created and delivered successfully to customers, which involves planning,
organizing, directing, and controlling
Planning - ANSWER Distribute work and decide which plant certain garments
go to
Organizing - ANSWER Set up/organized assembly lines/people
Directing - ANSWER Checking to make sure lots produced on time and seeing
the work through the assembly line (monitoring)
Controlling - ANSWER Looking at reports to see changes; periodically checking
on quality of garments for defects
Story: Importance of Environment - ANSWER In 2005, CA passed a law where
car manufacturers had to have a certain average MPG for their cars overall or pay
, a fine. Many lines created hybrids but the big 3 (GM, Ford, Chrysler) ignored this
and ultimately cost them lots of $$ in fines
*Point: Ignored changes in the environment (new government regulations) and
should have planned ahead to avoid costs
Outsourcing - ANSWER Growing rapidly in the US; jobs for manufacturing
employees dropping
*Widens the trade deficit
Outcomes of Outsourcing - ANSWER -China/India/Vietnam became the
preferred countries to outsource to because of cheap labor rates
-Chasing cheap labor abroad will weaken the American dollar and create an on
shoring trend
-Skilled workers are getting older and not being replaced, which forces more
outsourcing & inflation rises
Productivity - ANSWER Outputs/Inputs
Positive to job losses in manufacturing & service? - ANSWER Productivity
increases and people must work harder to keep jobs & have more knowledge in
the field
Total Productivity Measures - ANSWER The ratio of all revenues divided by all
costs
-ex: if 99%, then only 0.99 back for every $1 invested
Productivity Growth Rate - ANSWER (P2-P1)/P1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
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 StudySet. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79271 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now