OM 300 EXAM 1 QUESTIONS AND ANSWERS
What is NOT considered to be one of the three primary functions that all organizations
perform? - Answers - Research and Development
Competition in the 21st century is no longer between companies; it is between -
Answers - Supply Chains
The economic activities that typically produce an intangible product are referred to as -
Answers - Services
Productivity increases when - Answers - inputs decrease while outputs remain the
same.
Which of the following is NOT one of the three strategic approaches to competitive
advantage? - Answers - Innovation
SWOT analysis refers to - Answers - strengths, weaknesses, opportunities, and threats.
A set of skills, talents, and capabilities in which a firm is particularly strong is referred to
as - Answers - core competencies.
Which of the following is NOT considered to be a stakeholder? - Answers - Competitors
A strategy is - Answers - an action plan to achieve a mission.
How does Walmart gain a competitive advantage? - Answers - Competing on cost
Which of the following is NOT an OM strategy/issue during the growth stage of the
product life cycle? - Answers - reduce capacity
The primary advantage of outsourcing is - Answers - to allow a company to focus on its
core competencies.
The three phases involved in the management of large projects are - Answers -
planning, scheduling, and controlling.
Which of the following is a direct responsibility of the project manager? - Answers -
making sure that the people assigned to the project receive the motivation, direction,
and information needed to do their jobs
Gantt charts are - Answers - planning charts used to schedule resources and allocate
time.
The critical path of a network is the - Answers - longest time path through the network.
What is NOT considered to be one of the three primary functions that all organizations
perform? - Answers - Research and Development
Competition in the 21st century is no longer between companies; it is between -
Answers - Supply Chains
The economic activities that typically produce an intangible product are referred to as -
Answers - Services
Productivity increases when - Answers - inputs decrease while outputs remain the
same.
Which of the following is NOT one of the three strategic approaches to competitive
advantage? - Answers - Innovation
SWOT analysis refers to - Answers - strengths, weaknesses, opportunities, and threats.
A set of skills, talents, and capabilities in which a firm is particularly strong is referred to
as - Answers - core competencies.
Which of the following is NOT considered to be a stakeholder? - Answers - Competitors
A strategy is - Answers - an action plan to achieve a mission.
How does Walmart gain a competitive advantage? - Answers - Competing on cost
Which of the following is NOT an OM strategy/issue during the growth stage of the
product life cycle? - Answers - reduce capacity
The primary advantage of outsourcing is - Answers - to allow a company to focus on its
core competencies.
The three phases involved in the management of large projects are - Answers -
planning, scheduling, and controlling.
Which of the following is a direct responsibility of the project manager? - Answers -
making sure that the people assigned to the project receive the motivation, direction,
and information needed to do their jobs
Gantt charts are - Answers - planning charts used to schedule resources and allocate
time.
The critical path of a network is the - Answers - longest time path through the network.
