Exam (elaborations)
COB 300 Operations Exam 1 Study Guide (Tchommo) Questions and Answers
- Course
- Institution
COB 300 Operations Exam 1 Study Guide (Tchommo) Questions and Answers
[Show more]
Content preview
COB 300 Operations Exam 1 StudyGuide (Tchommo) Questions and
Answers
Mission - Answers -Reason for an organization's existence
Mission Statement - Answers -States the purpose of the organization
Goals - Answers -Provide detail and the scope of the mission
Strategy - Answers -- A plan for achieving organizational goals
- If goals = destinations, Strategies = roadmaps
Order Qualifiers - Answers -Characteristics that customers perceive as minimum
standards of acceptability for a product or service to be considered as a potential for
purchase
Order Winners: - Answers -Characteristics of an organization's goods or services that
cause it to be perceived as better than the competition
Core Competency - Answers -The one thing a company can do better than its
competitors
Environmental Scanning - Answers -Identifies internal strengths and weaknesses
Identifies external opportunities and threats
Three basic business strategies: - Answers -1) Supply Chain Strategy
2) Sustainability Strategy
3) Global Strategy
Four perspectives of a balanced scorecard - Answers -1) Customers
2) Internal Business Processes
3) Learning
4) Growth
What is the purpose of a balanced scorecard? - Answers -- Using this approach,
managers develop objectives, metrics, and targets for each objective and initiatives to
achieve objectives, and they identify links among the various perspectives.
- Results are monitored and used to improve strategic performance results.
, Operations Management - Answers -The management of systems or processes that
create goods and/or provide services
Productivity = - Answers -Productivity = Outputs/Inputs
Partial Measures: - Answers -Output/Single Input; Output/Labor; Output/Capital
Multifactorial Measures: - Answers -Output/ Multiple Inputs/ Output/Labor+Machine;
Output/ (Labor + Capital + Energy)
Productivity Growth - Answers -(Current Productivity - Previous Productivity)/Previous
Productivity X 100%
Ex. (23-25)/25 X 100% = -8%
Core competency - Answers -The one thing that a firm can do better than its
competitors. The goal is to have a core competency that yields a long-term competitive
advantage to the company.
Contract manufacturer - Answers -An organization that performs manufacturing and/or
purchasing needed to produce a product or device not for itself, but asa service to
another firm.
Concurrent Engineering - Answers -Emphasizes cross-functional integration and
concurrent development of a product and its associated processes.
Quality function deployment (QFD) - Answers -A process that helps a company
determine the product characteristics important to the consumer and to evaluate its own
product in relation to others.
House of quality - Answers -A matrix that helps a product design team translate
customerrequirements intooperating and engineeringgoals.
Value analysis/value engineering (VA/VE) - Answers -Analysis with the purpose of
simplifying products and processes by achieving equivalent or better performance at a
lower cost.
Ecodesign - Answers -The incorporation of environmental considerations into the design
and developmentof products or services.These concerns relateto the entire life
cycle,including materials,manufacturing, distribution,and the eventual disposalof waste.
Time-to-market - Answers -A measure of product development success. There are two
measures here: the frequency of new product introductions and the time from initial
concept to market introduction.
Productivity - Answers -A measure of how well resources are used. According to
Goldratt'sdefinition, all the actions that bring a company closer to its goals.
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 millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now