COB 300 Operations Exam 1 Study Guide (Tchommo) Questions and Answers
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Course
COB 300 Operations
Institution
COB 300 Operations
COB 300 Operations Exam 1 Study Guide (Tchommo) Questions and Answers
Mission - AnswerReason for an organization's existence
/.Mission Statement - AnswerStates the purpose of the organization
/.Goals - AnswerProvide detail and the scope of the mission
/.Strategy - Answer- A plan for ach...
COB 300 Operations Exam 1 Study Guide (Tchommo)
Questions and Answers
Mission - AnswerReason for an organization's existence
/.Mission Statement - AnswerStates the purpose of the organization
/.Goals - AnswerProvide detail and the scope of the mission
/.Strategy - Answer- A plan for achieving organizational goals
- If goals = destinations, Strategies = roadmaps
/.Order Qualifiers - AnswerCharacteristics that customers perceive as minimum
standards of acceptability for a product or service to be considered as a potential for
purchase
/.Order Winners: - AnswerCharacteristics of an organization's goods or services that
cause it to be perceived as better than the competition
/.Core Competency - AnswerThe one thing a company can do better than its
competitors
/.Environmental Scanning - AnswerIdentifies internal strengths and weaknesses
Identifies external opportunities and threats
/.Three basic business strategies: - Answer1) Supply Chain Strategy
2) Sustainability Strategy
3) Global Strategy
/.Four perspectives of a balanced scorecard - Answer1) Customers
2) Internal Business Processes
3) Learning
4) Growth
/.What is the purpose of a balanced scorecard? - Answer- 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 - AnswerThe management of systems or processes that
create goods and/or provide services
/.Productivity Growth - Answer(Current Productivity - Previous Productivity)/Previous
Productivity X 100%
Ex. (23-25)/25 X 100% = -8%
/.Core competency - AnswerThe 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 - AnswerAn 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 - AnswerEmphasizes cross-functional integration and
concurrent development of a product and its associated processes.
/.Quality function deployment (QFD) - AnswerA 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 - AnswerA matrix that helps a product design team translate
customerrequirements intooperating and engineeringgoals.
/.Value analysis/value engineering (VA/VE) - AnswerAnalysis with the purpose of
simplifying products and processes by achieving equivalent or better performance at a
lower cost.
/.Ecodesign - AnswerThe 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 - AnswerA 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 - AnswerA measure of how well resources are used. According to
Goldratt'sdefinition, all the actions that bring a company closer to its goals.
/.Conformance quality - AnswerThe degree to which the product or service design
specifications are met.
/.Design quality - Answerhe inherent value of the product in the marketplace.
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