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Business Decision Modeling refers to the use of very specific algorithms separate from those used in Operations Research or Quantitative Analysis. - ANSWERSFalse Business Decision Modeling, Management Science, Quantitative Analysis, Operations Research, and Operations Management are often interchangeable names defining the same discipline. - ANSWERSTrue Business Decision Modeling is only used in the banking, manufacturing, entertaining, airline and travel, marketing, and information techno...

Where would 'accounts payable' most likely appear on a set of financial statements? - ANSWERSOn the balance sheet under 'current liabilities' Which is not a type of note found in a set of financial statements? - ANSWERSSignificant internal controls What is the correct syntax for the =YEARFRAC function? - ANSWERS=YEARFRAC(start_date,end_date,[basis]) Which of the following is NOT a form of subordinated debt? - ANSWERSRevolver Which of the following is not a function of pub...

Competitiveness - ANSWERSHow effectively an organization meets the wants and needs of customers relative to others that offer similar goods or services Mission - ANSWERSThe reason for the existence of an organization Mission Statement - ANSWERSStates the purpose of an organization Goals - ANSWERSProvide detail and scope of the mission Strategies - ANSWERSPlans for achieving organizational goals Tactics - ANSWERSThe methods and actions taken to accomplish strategies (more specific ...

What is an effective way to ensure consistency when creating a process model? - ANSWERSCheck if work has already been done in the area you are modeling, Start with what you know then add details as they come to hand, Explain modeling to business attendees The ____ always starts with an individual stakeholder (usually the customer or another entity external to the organization) initiating the transaction. - ANSWERSFunctional Flow Diagram What is the value of Business Process Modeling in an ...

Students have to change buildings between classes, which often involves walks of 5 minutes or more. Walking from one building to another is a waste non-value-added time value-added time. - ANSWERSnon-value-added time Such walks are not waste, as they are required given the current lay-out of the campus. However (unless the students take great joy in the walk), they do not add value to the customer; they are thus non-value add time. Non-Value Added - ANSWERSa processing step that does no...

Which of the following statements about operations management processes is NOT true? - ANSWERSOutputs of operations management processes are always tangible goods. Operations management and supply chain management has grown because - ANSWERSTechnology has facilitated globalization. Operations management is important because - ANSWERSIt affects the quality of life of workers and consumers. Which of the following statements best describes "process thinking"? - ANSWERSIt is a way to ...

Planning - ANSWERSA decision making process that focuses on the future of the org and how it will get to where it wants to go Steps in the planning process - ANSWERSSet goals (identify constraints + opportunities) Establish performance criteria Generate alternatives Evaluate alternatives Selective alternatives Prepare plan document Specifying goals - ANSWERSProfitability Growth Market share Productivity/efficiency Leadership in market Client satisfaction Social awareness Ide...

The objective of layout strategy is to? 359 - ANSWERSDevelop an effective and efficient layout that will meet the firms requirements. Which of the statements below describes office layout? 359 - ANSWERSPositions workers, their equipment, and spaces/office to provide for movement of information. The major problem addressed by the warehouse layout is? 359 - ANSWERSAddressing trade-offs between space and material handling. The main goal of retail layout is? 361 - ANSWERSMaximizing profitab...

False - ANSWERSThe dominant problem associated with the fixed-position layout is that workers are fixed in position, and they cannot be reassigned. True - ANSWERSThe concept of customizing in a warehouse layout incorporates value-added activities in warehouses. True - ANSWERSWork cell layout refers to a special arrangement of machinery and equipment to focus on production of a single product or group of related products. True - ANSWERSThe product-oriented layout's main objective is t...

True - ANSWERSThe main components of a decision model include the decision alternatives, the constraints, and the objective criterion. True - ANSWERSThe most important step toward solving a decision problem is the construction of an adequate model. True - ANSWERSA typical decision problem must have at least two decision alternatives. False - ANSWERSThe number of alternatives in a decision problem is typically finite. False - ANSWERSA decision problem that has an infinite number of al...