Exam 12: Establishing Operations

Critical path analysis is a _________ document that should be modified during the process of actually accomplishing tasks.

In the Flow Right Brewery & Bar case study, Chris sought out his personal and family friends to help him build relationships with his key suppliers.

A new businessperson should be guided by _________ to develop a critical path chart.

In the Friend's Home Health case study, during the initial start-up period, expenses were _________ than expected.

There have been many production management systems developed. A new business owner does not need to invent one, but can probably utilize one already developed.

Why is it important for a new small business to go to the trouble of establishing legitimacy? List at least five methods a new business owner can establish legitimacy.

Choosing when to start a business is an important operational element. The book strongly suggests that starting business operations as quickly as possible is an effective strategy.

_________ provide(s) a detailed understanding of a firm's production process.

Time management is not an important aspect in the successful management of a business. Small business owners can set their own time schedules.

What kind of chart provides a detailed understanding of a firm's production process?

A strip shopping center is typically located along a major road.

Which type of business has a production process?

No matter where a business is located, its owner needs to establish legitimacy in the eyes of the customers and suppliers.

Indigo IT won an award for what?

A production chart is unlike a critical path chart because some activities can occur simultaneously.

The owners in the Friend's Home Health case study realized their plans for the operation were:

A critical line chart demonstrates how the activities necessary to start a firm fit together and build on each other.

In the early stages of a business, the development of a production management system is an important step to consider especially when the business owner has limited resources as well as strong time pressures.

In the Friend's Home Health case study, the founders sought out a _________ location.

Procrastination can use up the resources and time of a new business.