Chapter 1 Introduction to Operations Management

If one organization is better able than most to respond to changes in demands or opportunities, we say that organization exhibits higher.

agility

The fact that a few improvements in a few key areas of operations will have more impact than many improvements in many other areas is consistent with the:

Pareto phenomenon

Budgeting, analysis of investment proposals, and provision of funds are activities associated with the _______ function.

finance

Which of the following would tend to increase the importance of supply chain management?

increased globalization

Which of the following is a system in which low-skilled workers use specialized equipment to produce high volumes of standardized goods?

mass production

Buying goods or services instead of producing or providing them in-house is called:

outsourcing

Dealing with the fact that certain aspects of any management situation are more important than others is called:

recognition of priorities

Production systems with customized outputs typically have relatively:

skilled workers

Which of the following most involves coordinating the activities among all the elements of the business including its suppliers and distrutors?

supply chain management

Which of the following refers to service and production processes that use resources in ways that do not harm ecological systems?

sustainability