Deck 1: Operations Strategy and Global Competitiveness

Question 1

A purposeful collection of people,objects,and procedures for operating within an environment is known as a(n):

A)Operation
B)Sub -system
C)System
D)Sub-operation

Answer 1

C

Question 2

Which business strategy waits for the product to become fairly standardized and is demanded in large volumes?

A)First-to-market
B)Cost minimization or late-to-market
C)Second-to-market
D)Market Segmentation

Answer 2

B

Question 3

Value can be added to an entity in all the following ways,EXCEPT:

A)Altering
B)Facilitating
C)Storing
D)Transporting

Answer 3

B

Question 4

Which of the following is NOT an advantage of rapid response?

A)First-mover advantage
B)Elimination of overhead
C)Improved morale and communication
D)Sharper focus on the customer

Question 5

A renovation activity is any physical entity accompanying a transformation that adds value.

Question 6

Sub-optimization occurs when one part of the system is improved to the detriment of other parts of the system.

Question 7

Which of the following is among the six major elements of a production system?

A)Inputs
B)Output
C)Monitoring and legislative compliance
D)Only A and B

Question 8

Customization occurs when

A)Products or services are world-class,suitable for most markets
B)Products or services are offered on a made-to-order basis
C)Products or services are developed with several options
D)None of the above

Question 9

Learning how to plan and control project activities to meet specifications for performance,schedule,and cost are among the subjects of:

A)Project management
B)Lean management
C)Supply chain management
D)Inventory management

Question 10

Generally speaking,products are characterized by immediate consumption.

Question 11

A system is defined as a purposeful collection of people,objects,and procedures for operating within an environment.

Question 12

Bartmess and Cerny (1996)identify three elements of a core capability that hinders imitation; which of the following is NOT one of these elements?

A)It is complex and requires organizational learning over a period of time
B)It is based on multiple functional areas,both internal and external to the organization
C)It is a result of how the functions interact
D)It is based on the skills/knowledge within the functions themselves

Question 13

A distinction between normal goods and information/knowledge is that

A)Normal goods wear out,but information/knowledge does not
B)Information/knowledge can be given or sold to many others
C)Information/knowledge is subject to diminishing returns,but physical outputs are subject to increasing returns
D)Both A and B

Question 14

Operations only include those activities associated specifically with the production system.

Question 15

Which of the following uses techniques from Toyota Production System and JIT to eliminate waste and non-value-added activities?

A)Enterprise and material requirements planning
B)Lean Management
C)Quality Control
D)Capacity Management

Question 16

Which of the following is NOT a mass customization strategy?

A)Adaptive customizers
B)Transparent customizers
C)Cosmetic customizers
D)Flexible customizers

Question 17

What are the two trends in the range of accommodation to customers' needs?

A)Extraction and delivery
B)Standardization and flexibility
C)Customization and standardization
D)Experience and flexibility

Question 18

Which of the following is NOT considered a characteristic of a service?

A)Intangible
B)Labor-intense production
C)Quality difficult to measure
D)Delayed consumption

Question 19

Inputs in a bank's production system may include:

A)Loan default rates and the environment
B)Interest rates and wage rates
C)Checks and deposits
D)Federal Reserve decisions and the economy

Question 20

A type of output that commonly results from a production system is:

A)A product
B)A service
C)Neither A nor B
D)Both A and B

Question 21

Quality typically implies reliability.

Question 22

As an alternative to research,industries where bringing a product to market is extremely expensive (for example,high technology or pharmaceuticals)tend to adapt the imitation strategy.

Question 23

________ for a nation is the degree to which it can,under free and fair market conditions,produce goods and services that meet the test of international markets while simultaneously maintaining and expanding the real incomes of its citizens.

Question 24

The mortality curve is also referred to as the fallout rate.

Question 25

The resource-based view considers the set of resources available to the organization as a secondary driver of the business strategy.

Question 26

Vision statements express the organization's purpose or reason for existence.

Question 27

A type of output that is substantially different from products and other types of services is that of knowledge or _______; the more they are used,the more valuable they become.