MGMT300 Exam 2 CSULB
Study online at https://quizlet.com/_i1g1vx
1. Triple Bottom Line: A business strategy that includes social, economic, and environmental criteria.
2. Value Chain: the series of internal departments that carry out value-creating activities to design, produce,
market, deliver, and support a firm's products
3. Operations Management: - The science and art of ensuring that goods and services are created and
delivered successfully to customers.
It includes:
1) The design of goods, services, and the processes that create them.
2) The day-to-day management of those processes.
3) Continual improvement of these goods, services, and processes.
4. Three Issues of OM (Operations Management): Operations Management:
1) Efficiency: how well resources are used in creating output.
2) Cost: the cost of operations.
3) Quality: the quality of goods and services that create customer satisfaction.
- All three contribute to profitability and ultimately the long-run success of a company.
5. Key Activities of OM (Operations Management): Operations Management:
1) Forecasting
2) Supply chain management
3) Facility layout and design
4) Technology section
5) Quality management
6) Purchasing
7) Resource and capacity management
8) Process design
9) Job design
10) Service encounter design
11) Scheduling
12) Sustainability
6. Seven Eras of OM (Operations Management): Operations Management:
- 1950's: Focus on cost and efficiency.
- 1960's: Focus on quality.
- 1970's: Focus on customization and design.
- 1980's: Focus on time.
, MGMT300 Exam 2 CSULB
Study online at https://quizlet.com/_i1g1vx
- 1990's: Focus on service and value.
- 2000's: Focus on sustainability.
- 2010's: Focus on data and analytics.
7. Current Challenges of OM (Operations Management): Operations Mangement:
1) Technology
2) Globalization
3) Customer expectations
4) Engaging the workforce
5) Quality
6) Innovation and agility
8. Good: - A physical product that a person can see, touch, or consume.
9. Durable Good (Good): Good:
- A product that does not quickly wear out and typically lasts at least three years. Examples are:
1) Vehicles
2) Dishwashers
3) Furniture
10. Non-durable Good (Good): Good:
- A product that is no longer useful once it's used, perishable, and lasts for less than three years. Examples are:
1) Toothpaste
2) Clothing
3) Food
11. Goods-Producing Firms: - These type of firms are found in industries such as:
1) Manufacturing
2) Farming
3) Forestry
4) Mining
5) Construction
6) Fishing
12. Service: - Any primary or complementary activity that does not directly produce a physical product.
- Represents the non-goods part of a transaction between a buyer (customer) and the seller (supplier).
13. Service-Producing Firms: - These type of firms are found in industries such as:
1) Banking
Study online at https://quizlet.com/_i1g1vx
1. Triple Bottom Line: A business strategy that includes social, economic, and environmental criteria.
2. Value Chain: the series of internal departments that carry out value-creating activities to design, produce,
market, deliver, and support a firm's products
3. Operations Management: - The science and art of ensuring that goods and services are created and
delivered successfully to customers.
It includes:
1) The design of goods, services, and the processes that create them.
2) The day-to-day management of those processes.
3) Continual improvement of these goods, services, and processes.
4. Three Issues of OM (Operations Management): Operations Management:
1) Efficiency: how well resources are used in creating output.
2) Cost: the cost of operations.
3) Quality: the quality of goods and services that create customer satisfaction.
- All three contribute to profitability and ultimately the long-run success of a company.
5. Key Activities of OM (Operations Management): Operations Management:
1) Forecasting
2) Supply chain management
3) Facility layout and design
4) Technology section
5) Quality management
6) Purchasing
7) Resource and capacity management
8) Process design
9) Job design
10) Service encounter design
11) Scheduling
12) Sustainability
6. Seven Eras of OM (Operations Management): Operations Management:
- 1950's: Focus on cost and efficiency.
- 1960's: Focus on quality.
- 1970's: Focus on customization and design.
- 1980's: Focus on time.
, MGMT300 Exam 2 CSULB
Study online at https://quizlet.com/_i1g1vx
- 1990's: Focus on service and value.
- 2000's: Focus on sustainability.
- 2010's: Focus on data and analytics.
7. Current Challenges of OM (Operations Management): Operations Mangement:
1) Technology
2) Globalization
3) Customer expectations
4) Engaging the workforce
5) Quality
6) Innovation and agility
8. Good: - A physical product that a person can see, touch, or consume.
9. Durable Good (Good): Good:
- A product that does not quickly wear out and typically lasts at least three years. Examples are:
1) Vehicles
2) Dishwashers
3) Furniture
10. Non-durable Good (Good): Good:
- A product that is no longer useful once it's used, perishable, and lasts for less than three years. Examples are:
1) Toothpaste
2) Clothing
3) Food
11. Goods-Producing Firms: - These type of firms are found in industries such as:
1) Manufacturing
2) Farming
3) Forestry
4) Mining
5) Construction
6) Fishing
12. Service: - Any primary or complementary activity that does not directly produce a physical product.
- Represents the non-goods part of a transaction between a buyer (customer) and the seller (supplier).
13. Service-Producing Firms: - These type of firms are found in industries such as:
1) Banking
