Question 1

Which of the following statements is true of a value chain

Accepted Answer

A)   The pre- and postservice framework of a value chain emphasizes that service is a critical component of traditional manufacturing processes.
B)   The input-output framework of a value chain suggests that the value chain begins with inputs from customers.
C)   A value chain solely focuses on the operations function of an organization.
D)   A value chain is narrower in scope than a supply chain. A

Question 2

Jason and his friend went to a coffee shop. They ordered two cappuccinos and received a complimentary chocolate waffle and cookie along with their order. In the context of a customer benefit package (CBP), the chocolate waffle and the cookie are _____.

Accepted Answer

A)   intangible products
B)   core offerings
C)   peripheral goods
D)   primary goods C

Question 3

Which of the following statements is true of operations management (OM)

Accepted Answer

A)   The application of the concepts and methods of OM is limited to the technology industry.
B)   OM is the only function by which managers can directly affect the value provided to all stakeholders.
C)   The activities involved in OM focus on creating value solely for external customers.
D)   OM and its principles are exclusively applicable to firms that produce tangible products. B

Question 4

Identify a difference between goods and services.

Accepted Answer

A)   Goods can be stored as physical inventory, whereas services cannot be stored as physical inventory.
B)   Goods-producing firms rely solely on soft technology, whereas service-providing firms rely solely on hard technology.
C)   The demand for goods cannot be predicted, whereas the demand for services can be easily predicted.
D)   Customers directly participate in goods-producing activities, whereas customers do not participate in service-providing activities.

Question 5

North Zone Bank gives all its customers a complimentary credit card along with a custom-made wallet when they open an account with the bank. The credit card and the wallet are examples of _____ offered by the bank.

Accepted Answer

A)   peripheral goods
B)   core offerings
C)   intangible products
D)   primary goods

Question 6

Which of the following is an example of a general management process in a business

Accepted Answer

A)   Research and development
B)   Inventory management
C)   Technology acquisition
D)   Human resource management

Question 7

Which of the following statements is true of service employees

Accepted Answer

A)   They require good human interaction skills and strong cross-selling skills.
B)   They perform mechanized and rigid processes.
C)   They have little or no interaction with customers.
D)   They rely more on hard technology than soft technology to perform work.

Question 8

__________refers to raw materials, work-in-process, or finished goods that are maintained to support production or satisfy customer demand.

Accepted Answer

A)   Throughput
B)   A variant
C)   A subsidy
D)   Inventory

Question 9

If the value ratio for a good or service is high, the good or service is perceived favorably by customers.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following statements is true of service facilities

Accepted Answer

A)   They need to be in close proximity to customers.
B)   They store their services as physical inventory.
C)   They require employees with stronger technical skills than behavioral skills.
D)   They rely more on hard technology than soft technology to perform work.

Question 11

_____ is defined as the perception of the benefits associated with a good, service, or bundle of goods and services in relation to what buyers are willing to pay for them.

Accepted Answer

A)   Value
B)   Equity
C)   Turnover
D)   Revenue

Question 12

A _____ is a sequence of activities that is intended to create a certain result, such as a physical good, a service, or information.

Accepted Answer

A)   process
B)   matrix
C)   variant
D)   task

Question 13

In the context of the pre- and postproduction services perspective of a value chain, which of the following statements is true of preproduction services

Accepted Answer

A)   They focus on gaining a customer.
B)   They include on-site installation and application services.
C)   They focus solely on keeping an existing customer.
D)   They include recycling and remanufacturing initiatives.

Question 14

The higher the customer participation in service processes, the more certainty a firm has with respect to service time and capacity.

Accepted Answer

A) True 
 B)False

Question 15

Predictive analytics is used by organizations to:

Accepted Answer

A)   analyze business policies through visual representations.
B)   identify the best decisions for a particular situation.
C)   understand past and current performance.
D)   envisage the future by detecting patterns and relationships in data.

Question 16

__________is a key activity performed by operations managers that involves deciding the best way to assign people to work tasks and responsibilities.

Accepted Answer

A)   Forecasting
B)   Process design
C)   Job design
D)   Reengineering

Question 17

A process invariably resides within a department or traditional management function.

Accepted Answer

A) True 
 B)False

Question 18

_____ is defined as the science and art of ensuring that goods and services are created and delivered successfully to customers.

Accepted Answer

A)   Operations management
B)   Communications management
C)   Network management
D)   Security management

Question 19

Jane is planning to go on a camping trip. She purchases a bottle of mineral water, a pack of biscuits, a small tube of toothpaste, and a toothbrush from the supermarket near her house. The items that Jane has purchased from the supermarket are _____.

Accepted Answer

A)   hard goods
B)   durable goods
C)   nondurable goods
D)   intangible goods

Question 20

Ensuring consumer safety in using goods and services is an example of _____.

Accepted Answer

A)   social sustainability
B)   economic sustainability
C)   political sustainability
D)   environmental sustainability

Exam 1: Operations Management and Value Chains

Which of the following statements is true of a value chain

Jason and his friend went to a coffee shop. They ordered two cappuccinos and received a complimentary chocolate waffle and cookie along with their order. In the context of a customer benefit package (CBP) , the chocolate waffle and the cookie are _____.

Which of the following statements is true of operations management (OM)

Identify a difference between goods and services.

North Zone Bank gives all its customers a complimentary credit card along with a custom-made wallet when they open an account with the bank. The credit card and the wallet are examples of _____ offered by the bank.

Which of the following is an example of a general management process in a business

Which of the following statements is true of service employees

__________refers to raw materials, work-in-process, or finished goods that are maintained to support production or satisfy customer demand.

If the value ratio for a good or service is high, the good or service is perceived favorably by customers.

Which of the following statements is true of service facilities

_____ is defined as the perception of the benefits associated with a good, service, or bundle of goods and services in relation to what buyers are willing to pay for them.

A _____ is a sequence of activities that is intended to create a certain result, such as a physical good, a service, or information.

In the context of the pre- and postproduction services perspective of a value chain, which of the following statements is true of preproduction services

The higher the customer participation in service processes, the more certainty a firm has with respect to service time and capacity.

Predictive analytics is used by organizations to:

__________is a key activity performed by operations managers that involves deciding the best way to assign people to work tasks and responsibilities.

A process invariably resides within a department or traditional management function.

_____ is defined as the science and art of ensuring that goods and services are created and delivered successfully to customers.

Jane is planning to go on a camping trip. She purchases a bottle of mineral water, a pack of biscuits, a small tube of toothpaste, and a toothbrush from the supermarket near her house. The items that Jane has purchased from the supermarket are _____.

Ensuring consumer safety in using goods and services is an example of _____.