MGMT Chapter 1 Notes
Total Quality Management (TQM) became popular during what time frame?
1980s
Which of the following is an example of a service business?
A call center
Goods/Servies Combination example:
Airlines, Automobiles
Which is an example of a goods producing business
An automobile manufacturer
A process in which one company studies the processes of another company for best practices is known as:
Benchmarking
The analysis of data to provide better solutions to business problems is known as:
Business Analytics
Doing the things that will create the most value for the customer is known as:
Effectiveness
True or False: Mass customization refers to the ability to produce generic products that appeal to a broad range of customers
False
Pure Goods example:
Food Products, Chemicals
What is an example of benchmarking?
Hiring a consultant to study customer satisfaction metrics with those of key competitors
Operations and supply chain management includes:
Improvement of systems that create the firm's primary products, design of delivery systems, operation of systems that create the firm's primary products
A process that cannot be weighed or measured is known as:
Intangible
Just-in-Time (JIT) production was pioneered by:
Japan
The technique which aims to reduce the setup costs, eliminate the waste, and work with minimum inventory is known as:
Just-In-Time
The ability to produce a unique product exactly to a particular customer's requirements is known as:
Mass Customization
Building service activities into a firm's product offering is know as:
Product-Service Bundling
An operations and supply chain manager's job consists of:
Selling products to customers
The ability to meet current resource needs without compromising the ability of future generations to meet their needs is known as:
Sustainability
The introduction of electronic commerce was facilitated by:
The growth of the internet in the 1990s
What is true of services
They are intangible, they are perishable
True or False: A process is made up of one or more activities that transform inputs into outputs
True
True or False: An operations and supply chain manager helps firms determine the best way to deliver it's goods and services
True
True or False: Electronic Commerce is defined as the use of the internet as an essential element of business activity
True
True or False: Most product offerings are a combination of goods and services
True
True or False: Product-Service budding occurs when a firm adds a service activity to a product
True
Pure Services
University, Medical
In the context of efficiency and effectiveness, ______ is abstractly defined as quality divided by price
Value
Operations and supply chain processes are activities that:
transform inputs into outputs
