Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

If profitability is the answer to the ___ question of a business's existence, then value answers the ____ question.

Accepted Answer

The answer of If profitability is the answer to the...

Question 3

Integrative management frameworks:

Accepted Answer

A)  Eliminate the need for managerial accounting 
B)  Replace profitability measures for measuring performance 
C)  Help managers make day-to-day decisions that are consistent with goals 
D)  Eliminate guesswork in decision-making 
E)  Rarely become part of good management practice 
A)  Eliminate the need for managerial accounting 
B)  Replace profitability measures for measuring performance 
C)  Help managers make day-to-day decisions that are consistent with goals 
D)  Eliminate guesswork in decision-making 
E)  Rarely become part of good management practice

Question 4

Match these items.
-Capability

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 5

Why might value be defined differently by consumer customers than business customers?

Accepted Answer

Answers will vary somewhat, but should d

Question 6

Match these items.
-Profitability

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 7

Match these items.
-Timeliness

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 8

A technology that displaces an existing technology is often referred to as:

Accepted Answer

A)  A progressive technology 
B)  A life cycle 
C)  A disruptive technology 
D)  A competitive advantage 
A)  A progressive technology 
B)  A life cycle 
C)  A disruptive technology 
D)  A competitive advantage

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

If profitability is the answer to the _ question of a business's existence, then value answers the __ question.

Integrative management frameworks:

Match these items. -Capability

Why might value be defined differently by consumer customers than business customers?

Match these items. -Profitability

Match these items. -Timeliness

A technology that displaces an existing technology is often referred to as:

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

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

If profitability is the answer to the ___ question of a business's existence, then value answers the ____ question.

Integrative management frameworks:

Match these items. -Capability

Why might value be defined differently by consumer customers than business customers?

Match these items. -Profitability

Match these items. -Timeliness

A technology that displaces an existing technology is often referred to as:

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

If profitability is the answer to the _ question of a business's existence, then value answers the __ question.