OM 300 - Test 1 - University of Alabama
Exam Updated Actual Questions and
CORRECT Answers
The set of activities that create value in the form of goods and services by transforming inputs
into outputs. It is business functions responsible for planning, coordinating, and controlling
the resources needed to produce a company's products and services. It is applicable to all
firms, whether manufacturing or service - correct answer what is operations
management?
Marketing
Production or operations
Finance or accounting - correct answer om 3 essential functions
Planning
Organizing
Staffing
Leading
Controlling - correct answer om 5 basic management functions
1 - design of goods and services
2 - managing quality, process and capacity design
3 - location strategy
4 - layout strategy
5 - human resources and job design
6 - supply-chain management
7 - inventory management
8 - scheduling
9 - maintenance - correct answer 10 strategic om decisions
, Unites produced/input used - correct answer productivity
Labor
Capital
Management - correct answer 3 factors critical to achieve improves productivity
Contributes to about 10% of the annual increase - correct answer labor
Contributes about 38% of the annual increase - correct answer capital
Contributes about 52% of the annual increase - correct answer management
1) reduce costs (labor, taxes, tariffs, etc.)
2) improve supply chain
3) provide better goods and services
4) understand markets
5) learn to improve operations
6) attract and retain global talent - correct answer reasons to globalize
Tell an organization where it is going - correct answer what is a mission statement
Tells the organization how to get there - well detailed missions make strategy development
much easier - correct answer what is a strategy
Customers, environment, philosophy and values, profitability and growth, and public image -
more than just profit maximization - correct answer factors affecting mission
Differentiation
Exam Updated Actual Questions and
CORRECT Answers
The set of activities that create value in the form of goods and services by transforming inputs
into outputs. It is business functions responsible for planning, coordinating, and controlling
the resources needed to produce a company's products and services. It is applicable to all
firms, whether manufacturing or service - correct answer what is operations
management?
Marketing
Production or operations
Finance or accounting - correct answer om 3 essential functions
Planning
Organizing
Staffing
Leading
Controlling - correct answer om 5 basic management functions
1 - design of goods and services
2 - managing quality, process and capacity design
3 - location strategy
4 - layout strategy
5 - human resources and job design
6 - supply-chain management
7 - inventory management
8 - scheduling
9 - maintenance - correct answer 10 strategic om decisions
, Unites produced/input used - correct answer productivity
Labor
Capital
Management - correct answer 3 factors critical to achieve improves productivity
Contributes to about 10% of the annual increase - correct answer labor
Contributes about 38% of the annual increase - correct answer capital
Contributes about 52% of the annual increase - correct answer management
1) reduce costs (labor, taxes, tariffs, etc.)
2) improve supply chain
3) provide better goods and services
4) understand markets
5) learn to improve operations
6) attract and retain global talent - correct answer reasons to globalize
Tell an organization where it is going - correct answer what is a mission statement
Tells the organization how to get there - well detailed missions make strategy development
much easier - correct answer what is a strategy
Customers, environment, philosophy and values, profitability and growth, and public image -
more than just profit maximization - correct answer factors affecting mission
Differentiation
