GMS 401 - final exam questions well
answered already passed
the process by which objectives are achieved through the use of the resources - correct answer
✔✔Management
those activities within an organization that are directly related to providing goods or services by
transforming inputs into outputs - correct answer ✔✔operations
-planning
-organizing
-staffing
-leading
-controlling - correct answer ✔✔What operations managers do
1. operations
2. finance
3. marketing - correct answer ✔✔Three basic functions
80% of the consequences come from 20% of the causes - correct answer ✔✔Pareto
Phenomenon
-linear programming
-queuing techniques
-project techniques
-statistical techniques
,-inventory techniques - correct answer ✔✔Quantitive approaches
how effectively an organization meets the wants and needs of customers relative to others that
offer similar goods and services - correct answer ✔✔Competitiveness
outputs (goods & services) / inputs (labour, capital, or management) - correct answer
✔✔Producitivity
-it is linked to high standards of living
-relative to the competitions leads to competitive advantage in the marketplace - correct
answer ✔✔Why productivity matters
despite massive investment in computers the rate of the productivity growth is now lower than
it was before computers were introduced - correct answer ✔✔Productivity paradox
1. capital
2. quality
3. technology
4. management - correct answer ✔✔Factors affecting productivity
the more you do the better you get, don't think about the process just execute - correct answer
✔✔standardization
repairing a product doesn't make you money - correct answer ✔✔quality
- *Flexibility* is matching market changes in design innovation and volumes
- *Reliability* is meeting schedules
, - *Timeliness* is quickness in design, production, and delivery - correct answer ✔✔Competing
on Response
implies the creation of a system that has a unique advantage over competitors - correct answer
✔✔competitive advantage
-we define organizations mission as its purpose- what it will contribute to society
-they provide boundaries and focus on organizations and the concept around which the firm can
rally - correct answer ✔✔Mission
is an organizations action plan to achieve the mission - correct answer ✔✔Strategy
1. quality - focuses on satisfying the customer by integrating quality into all phases of the
organization
2. time - gain competitive advantage by performing certain activities more quickly than
competitors
3. vertical integration + outsourcing - make vs. buy and strategic alliances
4. supply chain management - suppliers, manufacturers, distribution channels, retailers, and
customers all viewed as one integrated system - correct answer ✔✔key strategies for
operations
people work at 70% productivity, a good process and set up keep the workers going - correct
answer ✔✔what speed to people usually work at
cut costs and sell more!
cut costs by optimization - having a good process and set up, a good set-up contributes to
productivity - correct answer ✔✔how to make money
answered already passed
the process by which objectives are achieved through the use of the resources - correct answer
✔✔Management
those activities within an organization that are directly related to providing goods or services by
transforming inputs into outputs - correct answer ✔✔operations
-planning
-organizing
-staffing
-leading
-controlling - correct answer ✔✔What operations managers do
1. operations
2. finance
3. marketing - correct answer ✔✔Three basic functions
80% of the consequences come from 20% of the causes - correct answer ✔✔Pareto
Phenomenon
-linear programming
-queuing techniques
-project techniques
-statistical techniques
,-inventory techniques - correct answer ✔✔Quantitive approaches
how effectively an organization meets the wants and needs of customers relative to others that
offer similar goods and services - correct answer ✔✔Competitiveness
outputs (goods & services) / inputs (labour, capital, or management) - correct answer
✔✔Producitivity
-it is linked to high standards of living
-relative to the competitions leads to competitive advantage in the marketplace - correct
answer ✔✔Why productivity matters
despite massive investment in computers the rate of the productivity growth is now lower than
it was before computers were introduced - correct answer ✔✔Productivity paradox
1. capital
2. quality
3. technology
4. management - correct answer ✔✔Factors affecting productivity
the more you do the better you get, don't think about the process just execute - correct answer
✔✔standardization
repairing a product doesn't make you money - correct answer ✔✔quality
- *Flexibility* is matching market changes in design innovation and volumes
- *Reliability* is meeting schedules
, - *Timeliness* is quickness in design, production, and delivery - correct answer ✔✔Competing
on Response
implies the creation of a system that has a unique advantage over competitors - correct answer
✔✔competitive advantage
-we define organizations mission as its purpose- what it will contribute to society
-they provide boundaries and focus on organizations and the concept around which the firm can
rally - correct answer ✔✔Mission
is an organizations action plan to achieve the mission - correct answer ✔✔Strategy
1. quality - focuses on satisfying the customer by integrating quality into all phases of the
organization
2. time - gain competitive advantage by performing certain activities more quickly than
competitors
3. vertical integration + outsourcing - make vs. buy and strategic alliances
4. supply chain management - suppliers, manufacturers, distribution channels, retailers, and
customers all viewed as one integrated system - correct answer ✔✔key strategies for
operations
people work at 70% productivity, a good process and set up keep the workers going - correct
answer ✔✔what speed to people usually work at
cut costs and sell more!
cut costs by optimization - having a good process and set up, a good set-up contributes to
productivity - correct answer ✔✔how to make money
