Operations Management - Quiz 1

What is the difference between a multinational corporation​ (MNC) and an international​ business? A) For the multinational​ firm, the business done outside the country is extensive. B) The international business has sites in a larger number of countries. C) There is no difference. D) The international business has been in existence longer than the multinational firm.

A) For the multinational​ firm, the business done outside the country is extensive.

Which is NOT true regarding differences between goods and​ services? A) Goods tend to have higher customer interaction than services. B) Services tend to have a more inconsistent product definition than goods. C) Services are generally produced and consumed​ simultaneously; tangible goods are not. D) Reselling is unusual in​ services; goods often have some residual value. E) Services tend to be more​ knowledge-based than goods.

A) Goods tend to have higher customer interaction than services.

What is the goal for mass​ customization? A) The goal is to produce customized products, whenever and wherever needed B) The goal is to let operations managers work with their supply chain to viciously cut inventories at every level C) The goal is to enrich jobs and move more decision making to the individual contributor D) The goal is to seek creative​ designs, efficient​ production, and​ high-quality goods via international collaboration

A) The goal is to produce customized products, whenever and wherever needed

* Which of the following is NOT one of the three strategic approaches to competitive​ advantage? A) innovation B) cost leadership C) differentiation D) response

A) innovation

The person who introduced​ standardized, interchangeable parts was A) Frederick W. Taylor B) Eli Whitney C) W. Edwards Deming D) Henry Ford

B) Eli Whitney

The ability of an organization to produce goods or services that have some uniqueness in their characteristics​ is: A) time-based competition. B) competing on differentiation. C) mass production. D) competing on productivity. E) competing on quality.

B) competing on differentiation.

* Experience differentiation​: A) attempts to make the service experience different for every single customer B) in an extension of product differentiation in the service sector C) isolates the consumer from the delivery of a service D) keeps consumers from becoming active participants in the service E) uses only the consumer's sense of vision and sound

B) in an extension of product differentiation in the service sector

Operations management is​ applicable: A) mostly to the service sector. B) to all​ firms, whether manufacturing or service. C) to services exclusively. D) mostly to the manufacturing sector. E) to the manufacturing sector exclusively.

B) to all​ firms, whether manufacturing or service.

Which of the following has progressed the FURTHEST along its product life​ cycle? A) virtual reality B) video physical rentals C) Boeing 787 D) Xbox One E) autonomous vehicles

B) video physical rentals

Which of the following is NOT a reason why domestic business operations decide to change to some form of international​ operation? A) improve products B) improve the supply chain C) attract and retain local talent D) improve operations

C) attract and retain local talent

Productivity increases when A) outputs decrease while inputs remain the same. B) inputs and outputs increase proportionately. C) inputs decrease while outputs remain the same. D) inputs increase while outputs remain the same.

C) inputs decrease while outputs remain the same.

What theory implies that you should allow another firm to perform work activities for your company if that company can do it more productively than you​ can? A) theory of offshoring B) theory of outsourcing C) theory of comparative advantage D) theory of competitive advantage E) theory of core competencies

C) theory of comparative advantage

Which of the following is true of a transnational​ strategy? A) Uses licensing extensively outside of the​ "home" country B) Uses standardized products C) Uses domestic model globally D) Exploits the economies of scale and learning

D) Exploits the economies of scale and learning

Which of the following statements is most​ correct? A) KSFs are both necessary and sufficient for competitive advantage. B) KSFs are often​ sufficient, but not necessary for competitive advantage. C) KSFs are neither necessary nor sufficient for competitive advantage. D) KSFs are often​ necessary, but not sufficient for competitive advantage. E) None of these statements are correct.

D) KSFs are often​ necessary, but not sufficient for competitive advantage.

* Which of the following is NOT one of the factors that fosters specialization and worldwide supply​ chains? A) instant communication B) cheaper transportation C) specialized expert knowledge D) marketing

D) marketing

* Which of the following OM decisions determines how a good or service is produced and commits management to specific​ technology, quality, human​ resources, and capital​ investment? A) managing quality B) design of goods and services C) human resources and job design D) process and capacity design

D) process and capacity design

Reasons to study operations management​ include: A) studying how people organize themselves for productive enterprise. B) understanding what human resource managers do. C) knowing how goods and services are consumed. D) learning about a costly part of the enterprise. E) A and D

E) A and D

A​ business's stakeholders, whose conflicting perspectives cause ethical and social​ dilemmas, include: A) lenders B) suppliers C) employees D) owners E) all of the above

E) all of the above

Before establishing and implementing​ strategy, a resources view would ensure that which of the following resources are​ available? A) human B) technological C) financial D) physical E) all of the above

E) all of the above

The finance function is concerned​ with: A) procuring​ materials, supplies, and equipment. B) generating the demand for the​ organization's products or services. C) building and maintaining a positive image. D) producing goods or providing services. E) securing monetary resources.

E) securing monetary resources.