Deck 27: Understanding Big Data and Its Impact on Business

Question 1

Value-added is the term used to describe the difference between the cost of inputs and the value of price of outputs.

Answer 1

True

Question 2

CMMI stands for the Capability Matrix Modeling Integrity framework.

Answer 2

False

Question 3

What is often referred to as the technical core and is the actual conversion of inputs to outputs?

A) Operations Management
B) Productions Management
C) Transformation process
D) Production

Answer 3

C

Question 4

Six sigma qualities goal is to detect potential problems to prevent their occurrence and achieve no more than 3.4 defects per million opportunities.

Question 5

A transformation process is often referred to as the technical core, especially in manufacturing organization, and is the actual conversion of inputs to outputs.

Question 6

Production is the creation of goods and services using the factors of production: land, labor, capital, entrepreneurship, and knowledge.

Question 7

The scope of OM ranges across the organization and includes many interrelated activities, such as forecasting, capacity planning, scheduling, managing inventories, assuring quality, motivating employees, deciding where to locate facilities, and more.

Question 8

Which of the following refers to value-added?

A) Describes the difference between the cost of outputs and the value of price of inputs
B) Describe the similarities between the cost of inputs and the value of price of outputs
C) Describes the difference between the cost of inputs and the value of price of outputs
D) Any of these depending on the situation

Question 9

What describes all of the activities managers do to help companies create goods?

A) Operations Management
B) Productions Management
C) Transformation process
D) Production

Question 10

Distribution management systems coordinate the process of transporting materials from a manufacturer to distribution centers to the final customers.

Question 11

Tactical planning focuses on long range planning such as plant size, location, and type of process to be used.

Question 12

Which of the following is not a factor of production when creating goods and services?

A) Entrepreneurship
B) Capital
C) Knowledge
D) Manufacturing

Question 13

Which of the following activities is not within the scope of OM?

A) Locating facilities
B) Training employees
C) Transportation planning
D) Capacity planning

Question 14

When does OM primarily increase value-added?

A) During the input process
B) During the transformation process
C) During the output process
D) None of these

Question 15

Which of the following activities is within the scope of OM?

A) Forecasting
B) Motivating employees
C) Scheduling
D) All of these

Question 16

Which of the following is an example of a good or a service?

A) Dental/Medical Records
B) DVDs
C) Downloadable MP3s
D) All of these

Question 17

Which of the following interacts with each phase in the conversion of inputs to outputs?

A) Services
B) Goods
C) Control
D) Information

Question 18

Which of the following statements is true?

A) Companies produce goods only without services
B) Companies produce services only without goods
C) Companies typically sell product packages, with a combination of goods and services
D) None of these

Question 19

What is the management of systems or processes that convert or transform resources into goods and services?

A) Operations Management
B) Productions Management
C) Transformation process
D) Production

Question 20

What is the creation of goods and services using the factors of production including land, labor, capital, entrepreneurship, and knowledge?

A) Operations Management
B) Productions Management
C) Transformation process
D) Production

Question 21

What deals with the day-to-day procedures for performing work, including scheduling, inventory, and process management?

A) Strategic planning
B) Tactical planning
C) Operational planning and control
D) None of these

Question 22

Which type of operational planning uses distribution management systems?

A) Strategic planning
B) Tactical planning
C) Operational planning and control
D) All of these depending on the industry

Question 23

Which of the following is one of the five key competitive priorities?

A) Cost
B) Capacity
C) Inventory
D) All of these

Question 24

Which of the following describes the outcome of OM decisions?

A) Many possible alternatives
B) Have varying impacts on revenue
C) Have varying impacts on expenses
D) All of these

Question 25

What uses sales forecasts to make sure that needed parts and materials are available at the right time and place in a specific company?

A) Transportation planning system
B) Distribution management system
C) Inventory management and control system
D) Materials requirement planning system

Question 26

Which of the following is not one of the modern quality control standards?

A) Six sigma quality
B) Malcolm Baldrige National Quality Awards
C) ISO 100
D) ISO 14000

Question 27

Which of the following is not a type of operational planning?

A) Strategic planning
B) Transformation planning
C) Tactical planning
D) Operational planning and control

Question 28

Which company uses package flow information systems at each location to cut truck delivery travel by more than 100 million miles each year?

A) UPS
B) Trek Bike Manufacturer
C) Frontier Airlines
D) None of these

Question 29

Which type of operational planning uses inventory management and control systems?

A) Strategic planning
B) Tactical planning
C) Operational planning and control
D) All of these depending on the industry

Question 30

What tracks and analyzes the movement of materials and products to ensure the delivery of materials and finished goods at the right time, the right place, and the lowest cost?

A) Transportation planning system
B) Distribution management system
C) Inventory management and control system
D) Materials requirement planning system

Question 31

What focuses on long range planning such as plant size, location, and type of process to be used?

A) Strategic planning
B) Tactical planning
C) Operational planning and control
D) None of these

Question 32

Which of the following represents the five key competitive priorities?

A) Cost, capacity, delivery, flexibility, inventory
B) Cost, quality, delivery, flexibility, service
C) Cost, quality, transportation, inventory, capacity
D) Cost, delivery, flexibility, inventory, capacity

Question 33

What consists of several stand-alone businesses?

A) Strategic planning units
B) Strategic business units
C) Tactical business units
D) Operational business units

Question 34

Which type of operational planning uses materials requirement planning systems?

A) Strategic planning
B) Tactical planning
C) Operational planning and control
D) All of these depending on the industry

Question 35

Which type of operational planning uses global inventory management systems?

A) Strategic planning
B) Tactical planning
C) Operational planning and control
D) All of these depending on the industry

Question 36

Which modern quality control standard has the goal of detecting potential problems to prevent their occurrence and achieve no more than 3.4 defects per million opportunities?

A) Six sigma quality
B) Malcolm Baldrige National Quality Awards
C) CMMI
D) ISO 14000

Question 37

Which modern quality control standard is a framework of best practices in managing, measuring, and monitoring software development processes?

A) Six sigma quality
B) Malcolm Baldrige National Quality Awards
C) CMMI
D) ISO 14000

Question 38

Define the term operations management.

Question 39

What focuses on producing goods and services as efficiently as possible within the strategic plan?

A) Strategic planning
B) Tactical planning
C) Operational planning and control
D) None of these

Question 40

OM information systems can answer all of the following questions, except:

A) What resources will be needed
B) Where the funding will come to support the effort
C) When each resource will be needed
D) Who will perform the work

Question 41

Explain operations management role in business.

Question 42

Describe the correlation between operations management and information technology.

Question 43

Describe the five characteristics of competitive priorities.