Exam 1: Using Operations to Create Value

Firm A wants to enter a foreign market and has a skill that is difficult to duplicate.Firm B desires this skill,so Firm A works with Firm B in an arrangement known as a joint venture.

At the level of the firm,service providers do no just offer services and manufacturers do not just offer products.

A company's ability to quickly introduce a new service or product would be best described as:

One distinction between core processes and support processes is that core process can cut across the organization while support processes do not.

The details of weekly output and input for a fabrication process are as follows: output is 400 units,with a standard selling price of $100 per unit.For the week,total labor costs are: 10 workers at 40 hours for the week,are paid $15 per hour.Total material costs for the 400 units are $5,000.Weekly overhead is charged at the rate of 1.5 times the labor costs.What is the multifactor productivity for the week?

Flexibility is a possible competitive priority.

How has global competition affected productivity? Cite specific examples and reference the productivity equation to support your thesis.

A company's ability to support varying rates of production is BEST described as:

Competitive priorities are the means by which operations implements the firm's corporate strategies.

What are the three key functions of a firm and what is each responsible for?

The increased global presence of many firms has lessened the burden to behave ethically.

With regards to globalized operations and cost advantages,what China is to manufacturing,India is to:

________ is the elapsed time between receiving a customer's order and filling it.

Table 1.1 You are the Production Manager for the toy manufacturing process at the ABC Company. -Use the information provided in Table 1.1.An example of an external customer is:

Operations management is part of a production system that can be described in the following manner: Organization: inputs→processes→outputs. Which one of the following correctly describes a production system?

Companies that do not have operations in China find it difficult to compete based on the basis of low prices with companies that do.Instead those companies tend to compete based on:

A business focusing on increasing the efficiency of its operations is more directly addressing:

A set of activities that delivers value to external customers is a:

Competitive priorities:

The process that facilitates the placement of orders and identifies,attracts,and builds relationships with external customers is called the: