BUSI 2003 WEEK 1 QUIZ QUESTION AND ANSWERS . DOWNLOAD TO SCORE A

Question 1 Which of the following statement(s) accurately explain supply chains? 2 out of 2 points Selected Answer: Correct Answer: Answer Feedback: all of the above all of the above e is the correct answer. All the above statements accurately explain the concept of supply chain (pp. 5) Four major decision responsibilities of the operations management function include all of the following except: Selected Answer: Correct Answer: Answer Feedback: capability capability d is the correct answer. The other four are the major decision responsibilities of the operations management function (See Table 1.1, pp. 10) Question 3 2 out of 2 points Common inputs to the operations transformation process include all of the following except: Selected Answer: Correct Answer: Answer Feedback: management coefficients management coefficients e is the correct answer. All others are inputs (See Figure 1.1., pp. 13). Question 4 The four major operations objectives include all of the following except: 2 out of 2 points Selected Answer: Correct Answer: Answer Feedback: production technology production technology pp. 29, the four common objectives of operations are cost, quality, delivery and flexibility) Question 5 2 out of 2 points It is better to inspect quality of a product rather than to build it into the product. Selected Answer: Correct Answer: Answer Feedback: False False (See Table 1.1, pp. 10 - quality related decisions must ensure that quality is designed and built into all stages of producing and delivering goods and services to customers) Question 6 2 out of 2 points Which of the following statements concerning distinctive competence is incorrect? Selected Answer: Correct Answer: Answer Feedback: The business strategy of a firm always emanates from the market and cannot be built over the firm's distinctive competence. The business strategy of a firm always emanates from the market and cannot be built over the firm's distinctive competence. (pp. 31 - The business strategy does not always emanate from the market; it may be built instead on matching operations' distinctive competencies with a current or potential new market). Question 7 The three primary business functions include: 2 out of 2 points Selected Answer: Correct Answer: Answer Feedback: Finance, Marketing, and Operations Finance, Marketing, and Operations the operations function is one of the three primary functions, along with marketing and finance (pp. 5, 11) Question 8 Value is defined as Price/Benefits. 2 out of 2 points Selected Answer: Correct Answer: Answer Feedback: False False it is the opposite. Value is the tangible and intangible benefits that a customer can derive from consuming a good or a service at a price they are willing t