COB 300 Operations Final Exam Study Guide | 2026 Business Operations Prep
Mission - (answer)Reason for an organization's existence
Mission Statement - (answer)States the purpose of the organization
Goals - (answer)Provide detail and the scope of the mission
Strategy - (answer)- A plan for achieving organizational goals
- If goals = destinations, Strategies = roadmaps
Order Qualifiers - (answer)Characteristics that customers perceive as minimum standards of
acceptability for a product or service to be considered as a potential for purchase
Order Winners: - (answer)Characteristics of an organization's goods or services that cause it to be
perceived as better than the competition
Core Competency - (answer)The one thing a company can do better than its competitors
Environmental Scanning - (answer)Identifies internal strengths and weaknesses
Identifies external opportunities and threats
Three basic business strategies: - (answer)1) Supply Chain Strategy
2) Sustainability Strategy
3) Global Strategy
Four perspectives of a balanced scorecard - (answer)1) Customers
2) Internal Business Processes
3) Learning
4) Growth
,COB 300 Operations Final Exam Study Guide | 2026 Business Operations Prep
What is the purpose of a balanced scorecard? - (answer)- Using this approach, managers develop
objectives, metrics, and targets for each objective and initiatives to achieve objectives, and they identify
links among the various perspectives.
- Results are monitored and used to improve strategic performance results.
Operations Management - (answer)The management of systems or processes that create goods and/or
provide services
Productivity = - (answer)Productivity = Outputs/Inputs
Partial Measures: - (answer)Output/Single Input; Output/Labor; Output/Capital
Multifactorial Measures: - (answer)Output/ Multiple Inputs/ Output/Labor+Machine; Output/ (Labor +
Capital + Energy)
Productivity Growth - (answer)(Current Productivity - Previous Productivity)/Previous Productivity X
100%
Ex. (23-25)/25 X 100% = -8%
Core competency - (answer)The one thing that a firm can do better than its competitors. The goal is to
have a core competency that yields a long-term competitive advantage to the company.
Contract manufacturer - (answer)An organization that performs manufacturing and/or purchasing
needed to produce a product or device not for itself, but asa service to another firm.
Concurrent Engineering - (answer)Emphasizes cross-functional integration and concurrent development
of a product and its associated processes.
Quality function deployment (QFD) - (answer)A process that helps a company determine the product
characteristics important to the consumer and to evaluate its own product in relation to others.
, COB 300 Operations Final Exam Study Guide | 2026 Business Operations Prep
House of quality - (answer)A matrix that helps a product design team translate customer requirements
into operating and engineering goals.
Value analysis/value engineering (VA/VE) - (answer)Analysis with the purpose of simplifying products
and processes by achieving equivalent or better performance at a lower cost.
Ecodesign - (answer)The incorporation of environmental considerations into the design and
developmentof products or services.These concerns relateto the entire life cycle,including
materials,manufacturing, distribution,and the eventual disposalof waste.
Time-to-market - (answer)A measure of product development success. There are two measures here:
the frequency of new product introductions and the time from initial concept to market introduction.
Productivity - (answer)A measure of how well resources are used. According to Goldratt'sdefinition, all
the actions that bring a company closer to its goals.
Conformance quality - (answer)The degree to which the product or service design specifications are
met.
Design quality - (answer)he inherent value of the product in the marketplace.
Six Phases of the Generic Development Process - (answer)- Phase 0: Planning
Precedes project approval
- Phase 1: Concept development
Needs of the target market are identified
- Phase 2: System-level design
Definition of product architecture
- Phase 3: Design detail
Complete specification of the geometry, materials, and tolerances for all parts
- Phase 4: Testing and refinement
Mission - (answer)Reason for an organization's existence
Mission Statement - (answer)States the purpose of the organization
Goals - (answer)Provide detail and the scope of the mission
Strategy - (answer)- A plan for achieving organizational goals
- If goals = destinations, Strategies = roadmaps
Order Qualifiers - (answer)Characteristics that customers perceive as minimum standards of
acceptability for a product or service to be considered as a potential for purchase
Order Winners: - (answer)Characteristics of an organization's goods or services that cause it to be
perceived as better than the competition
Core Competency - (answer)The one thing a company can do better than its competitors
Environmental Scanning - (answer)Identifies internal strengths and weaknesses
Identifies external opportunities and threats
Three basic business strategies: - (answer)1) Supply Chain Strategy
2) Sustainability Strategy
3) Global Strategy
Four perspectives of a balanced scorecard - (answer)1) Customers
2) Internal Business Processes
3) Learning
4) Growth
,COB 300 Operations Final Exam Study Guide | 2026 Business Operations Prep
What is the purpose of a balanced scorecard? - (answer)- Using this approach, managers develop
objectives, metrics, and targets for each objective and initiatives to achieve objectives, and they identify
links among the various perspectives.
- Results are monitored and used to improve strategic performance results.
Operations Management - (answer)The management of systems or processes that create goods and/or
provide services
Productivity = - (answer)Productivity = Outputs/Inputs
Partial Measures: - (answer)Output/Single Input; Output/Labor; Output/Capital
Multifactorial Measures: - (answer)Output/ Multiple Inputs/ Output/Labor+Machine; Output/ (Labor +
Capital + Energy)
Productivity Growth - (answer)(Current Productivity - Previous Productivity)/Previous Productivity X
100%
Ex. (23-25)/25 X 100% = -8%
Core competency - (answer)The one thing that a firm can do better than its competitors. The goal is to
have a core competency that yields a long-term competitive advantage to the company.
Contract manufacturer - (answer)An organization that performs manufacturing and/or purchasing
needed to produce a product or device not for itself, but asa service to another firm.
Concurrent Engineering - (answer)Emphasizes cross-functional integration and concurrent development
of a product and its associated processes.
Quality function deployment (QFD) - (answer)A process that helps a company determine the product
characteristics important to the consumer and to evaluate its own product in relation to others.
, COB 300 Operations Final Exam Study Guide | 2026 Business Operations Prep
House of quality - (answer)A matrix that helps a product design team translate customer requirements
into operating and engineering goals.
Value analysis/value engineering (VA/VE) - (answer)Analysis with the purpose of simplifying products
and processes by achieving equivalent or better performance at a lower cost.
Ecodesign - (answer)The incorporation of environmental considerations into the design and
developmentof products or services.These concerns relateto the entire life cycle,including
materials,manufacturing, distribution,and the eventual disposalof waste.
Time-to-market - (answer)A measure of product development success. There are two measures here:
the frequency of new product introductions and the time from initial concept to market introduction.
Productivity - (answer)A measure of how well resources are used. According to Goldratt'sdefinition, all
the actions that bring a company closer to its goals.
Conformance quality - (answer)The degree to which the product or service design specifications are
met.
Design quality - (answer)he inherent value of the product in the marketplace.
Six Phases of the Generic Development Process - (answer)- Phase 0: Planning
Precedes project approval
- Phase 1: Concept development
Needs of the target market are identified
- Phase 2: System-level design
Definition of product architecture
- Phase 3: Design detail
Complete specification of the geometry, materials, and tolerances for all parts
- Phase 4: Testing and refinement
