DSOM326 CHAPTER 1 EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
Goods
Physical items produced by business organizations
Services
Activities that provide some combination of time, location, form and psychological value.
Operation
is that part of a business organization that is responsible for producing goods and/or
services
Business organizations have ________ basic functional areas. They
are____________
Every business has 3 basic functional areas.
- Finance
-Marketing
-Operations
Operations Management
Is the management of systems or processes that create goods and/or provide services.
Supply Chain
Is the sequence of organizations - their facilities, functions ans activities - that are
involved in producing and delivering a product or services. (the sequence begins with
raw materials and extends to the final customer)
, Operations Function
Involves the conversion of Inputs into Outputs.
Inputs (examples)
Land, labor, raw materials, equipment, facilities, energy.
Transformation (examples)
Cutting, transporting, teaching, mixing, packing, analyzing, developing, searching,
researching., repairing.
Outputs (examples)
houses, automobiles, computers, machines, textbooks, healthcare, entertainment, legal,
banking.
Value-added
The difference between the cost of inputs and the value or price of outputs
Process
Consists of one or more actions that transform inputs into outputs.
Upper-management processes
Govern the operation of the entire organization
Operational processes
There are the core processes that make up the value stream (ex. purchasing,
production, marketing, sales)
Supporting processes
These support the core processes. (ex. accounting, human resources, IT)
Process Variation
It occurs in all business processes. it can be due to variety or variability.
WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
Goods
Physical items produced by business organizations
Services
Activities that provide some combination of time, location, form and psychological value.
Operation
is that part of a business organization that is responsible for producing goods and/or
services
Business organizations have ________ basic functional areas. They
are____________
Every business has 3 basic functional areas.
- Finance
-Marketing
-Operations
Operations Management
Is the management of systems or processes that create goods and/or provide services.
Supply Chain
Is the sequence of organizations - their facilities, functions ans activities - that are
involved in producing and delivering a product or services. (the sequence begins with
raw materials and extends to the final customer)
, Operations Function
Involves the conversion of Inputs into Outputs.
Inputs (examples)
Land, labor, raw materials, equipment, facilities, energy.
Transformation (examples)
Cutting, transporting, teaching, mixing, packing, analyzing, developing, searching,
researching., repairing.
Outputs (examples)
houses, automobiles, computers, machines, textbooks, healthcare, entertainment, legal,
banking.
Value-added
The difference between the cost of inputs and the value or price of outputs
Process
Consists of one or more actions that transform inputs into outputs.
Upper-management processes
Govern the operation of the entire organization
Operational processes
There are the core processes that make up the value stream (ex. purchasing,
production, marketing, sales)
Supporting processes
These support the core processes. (ex. accounting, human resources, IT)
Process Variation
It occurs in all business processes. it can be due to variety or variability.
