MGT 3900 McGraw-Hill Chapter 1

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Match the entity to what it offer/creates: Business >= Customers =>

>= Supply <= Demand

If one customer spends 5 minutes taking out $20 form an ATM and another spends 2 minutes taking out $20 from the same ATM then there is variability in customer _______________.

Behavior

To match supply with demand, operations management tools help firms determine ______________ demand will be fulfilled

Both

When choosing a shipping option when ordering online, customer trade off speed and _________________.

Cost

When organizations make a trade-off they focus on meeting one dimension of _________________ utility in favor of another.

Customer

When organizations make a trade-off they focus on meeting one dimension of ___________________ utility in favor of another.

Customer

True or False: It is common for an organization to be able to improve all three dimensions of customer utility.

False

True or False: McDonald's and Subway have the same capabilities

False

True or False: The price of an item impacts the consumption utility you associate with it

False

True or False: The size of a cellular phone is a performance attribute

False

True or False: The speed of an internet connection is a fit attribute

False

The cost of power supplies that a computer manufacturer purchases to package with the computer would be ________________.

Inputs

For a given level of revenue, the higher the costs the ______________ the profit

Lower

For a given level of revenue, the higher the costs the________________ the profit

Lower

Customers buy products that ___________ their utility.

Maximize

The further the location the _____________ the inconvenience component

More

The more you have to wait the ________________ the inconvenience component

More

There is __________ one market segment in the auto industry.

More than

If John's pizza can deliver better-tasting, less-expensive pizza in less time than Maria's Pizza then John's Pizza __________________ dominates Maria's Pizza.

Pareto

A firm on the efficient frontier cannot be _________________ dominated.

Pareto dominated

Organizations can improve their business by making trade-offs among the dimensions of ___________________.

Performance

Demand is driven by the consumption utility for a product, its _______________, and the inconvenience for customers.

Price (A driver of demand)

Inflexibility is the inability of an operation to _____________ and cheaply change in response to new information

Quickly

If the first customer to a restaurant wants salad and the second wants a sandwich then there is variability in customer __________________.

Requests

Goal of operations management is to match ___________ with ___________.

Supply = Demand

Price includes the ____________ cost of owning the product or receiving the service

Total

Price includes the ________________ cost of owning the product or receiving the service

Total (All costs are included in the price)

A strategic _______________ is when a firm must choose a set of inputs and resources that excels in one dimension of customer utility or another

Trade-off

True or False: A pizza delivery chain offering a 30-minutes or less guarantee on their pizza orders impacts the inconvenience component of utility

True

True or False: Matching supply with demand is complicated by inhibitors such as demand variability.

True

True or False: The higher the utility associated with an item the more likely you are to choose it

True

_______________ is the inhibitor that corresponds to changes in either demand or supply

Variability

The three sources of inefficiency are __________________, ________________, and, _______________.

Waste, Variability, and inflexibility

Waste ____________ add value to the customer.

does not


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