Question 1

Which of the following is not an integrative management framework in the resource/profit model?

Accepted Answer

A)  Lean systems 
B)  Constraint management 
C)  Customer relationship management 
D)  Supply chain management 
A)  Lean systems 
B)  Constraint management 
C)  Customer relationship management 
D)  Supply chain management

Question 2

Timeliness refers to whether a product or service

Accepted Answer

A)  Is not obsolete 
B)  Is produced without taking too much labor 
C)  Uses exactly the correct amount of capacity 
D)  Created, delivered, and available when it is supposed to be 
E)  None of the above 
A)  Is not obsolete 
B)  Is produced without taking too much labor 
C)  Uses exactly the correct amount of capacity 
D)  Created, delivered, and available when it is supposed to be 
E)  None of the above

Question 3

In a knowledge-based economy, _______ substitute _______ for other capital.

Accepted Answer

innovation

Question 4

List all the activities involved in registering for courses at your university or obtaining a mortgage for your home. Which of these activities do you think add value? Which do not? If you could improve the process by eliminating non-value activities, how would you go about doing it? How would the value (from your perspective) resulting from the process be improved if the non-value adding activities were eliminated?

Accepted Answer

Students should list at least 5-7 activi

Question 5

Which of the following is often more important for business customers than consumer customers?

Accepted Answer

A)  Cost 
B)  Timeliness 
C)  Product quality 
D)  Value 
E)  Service quality 
A)  Cost 
B)  Timeliness 
C)  Product quality 
D)  Value 
E)  Service quality

Question 6

Scientific Management embraces the idea that there is a "best way" to perform a task.

Accepted Answer

A) True 
 B)False

Question 7

Manufacturers are outsourcing less of their needs and at the same time becoming more directly linked to the customer through service.

Accepted Answer

A) True 
 B)False

Question 8

The most influential environmental force that product- and service- oriented firms must deal with is:

Accepted Answer

A)  Globalization 
B)  The Internet 
C)  Regulatory forces 
D)  The natural environment 
E)  None of the above 
A)  Globalization 
B)  The Internet 
C)  Regulatory forces 
D)  The natural environment 
E)  None of the above

Question 9

Processes are made up of

Accepted Answer

A)  Activities 
B)  Capabilities 
C)  Value 
D)  Value components 
E)  None of the above 
A)  Activities 
B)  Capabilities 
C)  Value 
D)  Value components 
E)  None of the above

Question 10

Inventory is a (n) _______ on the balance sheet, but has characteristics of a (n) _______ as well.

Accepted Answer

The answer of Inventory is a (n) _______ on the...

Question 11

Explain why operations management is an important subject for all business students.

Accepted Answer

Answers will vary somewhat, but should d

Question 12

Match these items.
-Constraint Management

Accepted Answer

A)  A business' abilities that result from its processes 
B)  Materials used in the production of products and services 
C)  A measure of the productivity of money invested in a business 
D)  A plan for creating profitability in the future 
E)  Production of goods by skilled artisans
F) A philosophy to guide day-to-day decisions
G) Managing system productivity by managing the limiting resources of the system
H) The level of output in a specified period of time
I) A system with little waste
J) The speed at which a business completes tasks 
A)  A business' abilities that result from its processes 
B)  Materials used in the production of products and services 
C)  A measure of the productivity of money invested in a business 
D)  A plan for creating profitability in the future 
E)  Production of goods by skilled artisans
F) A philosophy to guide day-to-day decisions
G) Managing system productivity by managing the limiting resources of the system
H) The level of output in a specified period of time
I) A system with little waste
J) The speed at which a business completes tasks

Question 13

Like cost, quality, and timeliness; processes and capabilities are also viewed by customers as a component of value.

Accepted Answer

A) True 
 B)False

Question 14

_______ ________ ________ provide a set of principles that eliminate the need to evaluate day-to-day decisions on the basis of profitability.

Accepted Answer

Integrated

Question 15

A close match between the _____ rate and the _____ rate is critical for services because services can't be stored for future use.

Accepted Answer

The answer of A close match between the _____ rate...

Question 16

B2C refers to:

Accepted Answer

A)  A business selling to a business 
B)  A business shifting its capacity 
C)  A cost reduction effort 
D)  A business selling to a consumer 
A)  A business selling to a business 
B)  A business shifting its capacity 
C)  A cost reduction effort 
D)  A business selling to a consumer

Question 17

The difference between something's market value and the cost of creating it creates a potential for:

Accepted Answer

A)  Net worth 
B)  Profitability 
C)  Reduced costs 
D)  Sales 
E)  None of the above 
A)  Net worth 
B)  Profitability 
C)  Reduced costs 
D)  Sales 
E)  None of the above

Question 18

The present and future manager must have functional expertise and does not need an enterprise perspective.

Accepted Answer

A) True 
 B)False

Question 19

The components of value included in the resource profit model are:

Accepted Answer

A)  Benefits, timeliness, and processes 
B)  Strategy, capabilities, and processes 
C)  Strategy, Profitability, and market share 
D)  Cost, quality, timeliness 
E)  None of the above 
A)  Benefits, timeliness, and processes 
B)  Strategy, capabilities, and processes 
C)  Strategy, Profitability, and market share 
D)  Cost, quality, timeliness 
E)  None of the above

Question 20

Mass customization:

Accepted Answer

A)  Will probably never exist 
B)  Is an objective of many U.S. manufacturers 
C)  Occurred as a result of the just-in-time revolution of the 1980's 
D)  Has already been achieved in the service sector. 
A)  Will probably never exist 
B)  Is an objective of many U.S. manufacturers 
C)  Occurred as a result of the just-in-time revolution of the 1980's 
D)  Has already been achieved in the service sector.

Which of the following is not an integrative management framework in the resource/profit model?

Timeliness refers to whether a product or service

In a knowledge-based economy, _ substitute _ for other capital.

Which of the following is often more important for business customers than consumer customers?

Scientific Management embraces the idea that there is a "best way" to perform a task.

Manufacturers are outsourcing less of their needs and at the same time becoming more directly linked to the customer through service.

The most influential environmental force that product- and service- oriented firms must deal with is:

Processes are made up of

Inventory is a (n) _ on the balance sheet, but has characteristics of a (n) _ as well.

Explain why operations management is an important subject for all business students.

Match these items. -Constraint Management

Like cost, quality, and timeliness; processes and capabilities are also viewed by customers as a component of value.

_ __ provide a set of principles that eliminate the need to evaluate day-to-day decisions on the basis of profitability.

A close match between the _ rate and the _ rate is critical for services because services can't be stored for future use.

B2C refers to:

The difference between something's market value and the cost of creating it creates a potential for:

The present and future manager must have functional expertise and does not need an enterprise perspective.

The components of value included in the resource profit model are:

Mass customization:

Profitability: Business Success From Operations Success

Strategy and Value: Competing Through Operations

Processes: Turning Resources Into Capabilities

Cost: The Price of Value Creation

Quality: Meeting Customer Expectations

Quality Tools: From Process Performance to Process Perfection

Timeliness: Scheduling and Project Management

Supply Chain Management: Managing Business to Business Interactions

Demand Forecasting: Building the Foundation for Resource Planning

Inventory: Managing to Meet Demand

Logistics: Positioning Goods in the Supply Chain

Lean Systems: Eliminating Waste Through the Supply Chain

Capacity: Matching Productive Resources to Demand

Constraint Management: Simplifying Complex Systems

Facilities: Making Location and Layout Decisions

Workforce: Optimizing Human Capital Printed

Filters

Exam 1: Introduction: Why Operations Management

Which of the following is not an integrative management framework in the resource/profit model?

Timeliness refers to whether a product or service

In a knowledge-based economy, _______ substitute _______ for other capital.

Which of the following is often more important for business customers than consumer customers?

Scientific Management embraces the idea that there is a "best way" to perform a task.

Manufacturers are outsourcing less of their needs and at the same time becoming more directly linked to the customer through service.

The most influential environmental force that product- and service- oriented firms must deal with is:

Processes are made up of

Inventory is a (n) _______ on the balance sheet, but has characteristics of a (n) _______ as well.

Explain why operations management is an important subject for all business students.

Match these items. -Constraint Management

Like cost, quality, and timeliness; processes and capabilities are also viewed by customers as a component of value.

_______ ________ ________ provide a set of principles that eliminate the need to evaluate day-to-day decisions on the basis of profitability.

A close match between the _____ rate and the _____ rate is critical for services because services can't be stored for future use.

B2C refers to:

The difference between something's market value and the cost of creating it creates a potential for:

The present and future manager must have functional expertise and does not need an enterprise perspective.

The components of value included in the resource profit model are:

Mass customization:

Profitability: Business Success From Operations Success

Strategy and Value: Competing Through Operations

Processes: Turning Resources Into Capabilities

Cost: The Price of Value Creation

Quality: Meeting Customer Expectations

Quality Tools: From Process Performance to Process Perfection

Timeliness: Scheduling and Project Management

Supply Chain Management: Managing Business to Business Interactions

Demand Forecasting: Building the Foundation for Resource Planning

Inventory: Managing to Meet Demand

Logistics: Positioning Goods in the Supply Chain

Lean Systems: Eliminating Waste Through the Supply Chain

Capacity: Matching Productive Resources to Demand

Constraint Management: Simplifying Complex Systems

Facilities: Making Location and Layout Decisions

Workforce: Optimizing Human Capital Printed

Filters

In a knowledge-based economy, _ substitute _ for other capital.

Inventory is a (n) _ on the balance sheet, but has characteristics of a (n) _ as well.

_ __ provide a set of principles that eliminate the need to evaluate day-to-day decisions on the basis of profitability.

A close match between the _ rate and the _ rate is critical for services because services can't be stored for future use.