Exam 1: Introduction: Why Operations Management

A critical ramification of the intangible nature of services is:

Profitability differs from profit in that profitability measures productivity.

Match these items. -Integrative Management Framework

Match these items. -Inventory

The two critical roles played by processes in defining the value of a product or service are:

Craft production depends on unskilled laborers to produce products

Constraint management focuses on:

A strategy is

Match these items. -Strategy

According to the resource/profit model, the overriding objective of the business is:

In the not-too-distant future many traditional manufacturing firms and other consumer product manufacturers will not manufacture at all anymore.

Define the relationship among resources, processes, capabilities, and value.

Match these items. -Capacity

Match these items. -Craft Production

The following are typical resources managed by businesses: inventory, capacity, facilities and patents.

Match these items. -Lean systems

Which of the following are saleable outputs of a business?

Lean systems refers to

Explain the key differences between products and services.

You are in need of two computers: one for personal use and the other for work use. When making your decision, what value attributes would you consider most important when purchasing the computer for personal use? What value attributes do you consider most important when purchasing the computer for work use? Which components of value would be the most critical for each situation?