Question 1

Why is the offshoring debate an excellent example of conflicting priorities in the stakeholder model?

Accepted Answer

Offshoring may maximize a company's profits by reducing labor and materials costs,and this would benefit its shareholders.Offshoring may also open new markets for the company's products,thus benefiting customers in the region.It may also make the company more globally competitive,which may ultimately save jobs in the U.S.However,losing jobs to locations with cheaper labor may also eliminate jobs in the U.S.,and this would negatively affect the company's employees in the U.S.Offshoring operations may also make the company less responsive to its customers in the U.S.

Question 2

Which of the following is a major difference between a line view and a circular view?

Accepted Answer

A)  Multiple activities are considered in a series view, unlike a circular view. 
B)  A line view has multiple activities, unlike a circular view. 
C)  A circular view includes feedback, unlike a line view. 
D)  A circular view shows multiple activities, unlike a line view. 
E)  Multiple activities are considered in a circular view, unlike a serial view. 
A)  Multiple activities are considered in a series view, unlike a circular view. 
B)  A line view has multiple activities, unlike a circular view. 
C)  A circular view includes feedback, unlike a line view. 
D)  A circular view shows multiple activities, unlike a line view. 
E)  Multiple activities are considered in a circular view, unlike a serial view. C

Question 3

________ refers to contracting out certain business functions or operations to other companies.

Accepted Answer

A)  Outsourcing 
B)  Scaling 
C)  Rescaling 
D)  Customization 
E)  External valuation 
A)  Outsourcing 
B)  Scaling 
C)  Rescaling 
D)  Customization 
E)  External valuation A

Question 4

________ are estimates of future demand for a company's products.

Accepted Answer

A)  Operation plans 
B)  PERT reports 
C)  Resource plans 
D)  Critical paths 
E)  Production forecasts 
A)  Operation plans 
B)  PERT reports 
C)  Resource plans 
D)  Critical paths 
E)  Production forecasts

Question 5

ISO 9000 is a methodology used for customized production and avoids the use of standards.

Accepted Answer

A) True 
 B)False

Question 6

Explain the concept of value webs.

Accepted Answer

Instead of the linear value chain,some b

Question 7

________ is a comprehensive approach of companywide policies,practices,and procedures to ensure that every product meets quality standards.

Accepted Answer

A)  Statistical process control 
B)  Quality assurance 
C)  Quality control 
D)  Quality directive 
E)  Corrective management 
A)  Statistical process control 
B)  Quality assurance 
C)  Quality control 
D)  Quality directive 
E)  Corrective management

Question 8

________ refers to overseeing all the activities involved in producing goods and services.

Accepted Answer

A)  Facilities management 
B)  Capacity planning 
C)  Procurement 
D)  Logistics 
E)  Operations management 
A)  Facilities management 
B)  Capacity planning 
C)  Procurement 
D)  Logistics 
E)  Operations management

Question 9

Select a company of your choice and create a systems model for the company.Create the model by identifying various systems and by representing the company itself as a large system that receives inputs and provides outputs.Clearly mention the transformation processes in your model.

Accepted Answer

The students should create a model by cl

Question 10

Compare and contrast mass production,customized production,and mass customization.

Accepted Answer

Both goods and services can be created t

Question 11

Inventory control refers to determining how much of what to have on hand at any given time.

Accepted Answer

A) True 
 B)False

Question 12

Outsourcing and offshoring are synonymous terms.

Accepted Answer

A) True 
 B)False

Question 13

A company that hires an outside firm to do its accounting and payroll function is outsourcing that function.

Accepted Answer

A) True 
 B)False

Question 14

In batch-of-one production,the producer creates a unique good or service for each customer.

Accepted Answer

A) True 
 B)False

Question 15

Services that must be consumed at the same time they are produced are known as perishable services.

Accepted Answer

A) True 
 B)False

Question 16

A firm's suppliers are not part of its value chain.

Accepted Answer

A) True 
 B)False

Question 17

Gobex financial services is a multinational firm that has many branches across the globe.The U.S subsidiary of the firm assigns its accounting tasks to the Chinese subsidiary.Lower labor costs enable the Chinese firm to perform the tasks more efficiently.This is an example of ________.

Accepted Answer

A)  offshoring 
B)  outsourcing 
C)  leveraging 
D)  customization 
E)  external valuation 
A)  offshoring 
B)  outsourcing 
C)  leveraging 
D)  customization 
E)  external valuation

Question 18

Offshoring is moving processes to markets that are closer to home in order to minimize transportation and management costs.

Accepted Answer

A) True 
 B)False

Question 19

________ is a globally recognized family of standards for quality management systems.

Accepted Answer

A)  Statistical process control 
B)  Six Sigma 
C)  Kaizen 
D)  ISO 9000 
E)  Total quality management 
A)  Statistical process control 
B)  Six Sigma 
C)  Kaizen 
D)  ISO 9000 
E)  Total quality management

Question 20

Capacity planning refers to making decisions about the arrangement of production work centers and other elements.

Accepted Answer

A) True 
 B)False

Why is the offshoring debate an excellent example of conflicting priorities in the stakeholder model?

Which of the following is a major difference between a line view and a circular view?

________ refers to contracting out certain business functions or operations to other companies.

________ are estimates of future demand for a company's products.

ISO 9000 is a methodology used for customized production and avoids the use of standards.

Explain the concept of value webs.

________ is a comprehensive approach of companywide policies,practices,and procedures to ensure that every product meets quality standards.

________ refers to overseeing all the activities involved in producing goods and services.

Select a company of your choice and create a systems model for the company.Create the model by identifying various systems and by representing the company itself as a large system that receives inputs and provides outputs.Clearly mention the transformation processes in your model.

Compare and contrast mass production,customized production,and mass customization.

Inventory control refers to determining how much of what to have on hand at any given time.

Outsourcing and offshoring are synonymous terms.

A company that hires an outside firm to do its accounting and payroll function is outsourcing that function.

In batch-of-one production,the producer creates a unique good or service for each customer.

Services that must be consumed at the same time they are produced are known as perishable services.

A firm's suppliers are not part of its value chain.

Gobex financial services is a multinational firm that has many branches across the globe.The U.S subsidiary of the firm assigns its accounting tasks to the Chinese subsidiary.Lower labor costs enable the Chinese firm to perform the tasks more efficiently.This is an example of ________.

Offshoring is moving processes to markets that are closer to home in order to minimize transportation and management costs.

________ is a globally recognized family of standards for quality management systems.

Capacity planning refers to making decisions about the arrangement of production work centers and other elements.

Developing a Business Mindset

Understanding Basic Economics

The Global Marketplace

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Employee Motivation

Human Resources Management

Labor Relations

The Art and Science of Marketing

Product and Pricing Strategies

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters

Exam 9: Production Systems

Why is the offshoring debate an excellent example of conflicting priorities in the stakeholder model?

Which of the following is a major difference between a line view and a circular view?

________ refers to contracting out certain business functions or operations to other companies.

________ are estimates of future demand for a company's products.

ISO 9000 is a methodology used for customized production and avoids the use of standards.

Explain the concept of value webs.

________ is a comprehensive approach of companywide policies,practices,and procedures to ensure that every product meets quality standards.

________ refers to overseeing all the activities involved in producing goods and services.

Select a company of your choice and create a systems model for the company.Create the model by identifying various systems and by representing the company itself as a large system that receives inputs and provides outputs.Clearly mention the transformation processes in your model.

Compare and contrast mass production,customized production,and mass customization.

Inventory control refers to determining how much of what to have on hand at any given time.

Outsourcing and offshoring are synonymous terms.

A company that hires an outside firm to do its accounting and payroll function is outsourcing that function.

In batch-of-one production,the producer creates a unique good or service for each customer.

Services that must be consumed at the same time they are produced are known as perishable services.

A firm's suppliers are not part of its value chain.

Gobex financial services is a multinational firm that has many branches across the globe.The U.S subsidiary of the firm assigns its accounting tasks to the Chinese subsidiary.Lower labor costs enable the Chinese firm to perform the tasks more efficiently.This is an example of ________.

Offshoring is moving processes to markets that are closer to home in order to minimize transportation and management costs.

________ is a globally recognized family of standards for quality management systems.

Capacity planning refers to making decisions about the arrangement of production work centers and other elements.

Developing a Business Mindset

Understanding Basic Economics

The Global Marketplace

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Employee Motivation

Human Resources Management

Labor Relations

The Art and Science of Marketing

Product and Pricing Strategies

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters