Entrepreneurship 101: Management and Production
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Questions and Answers

What is the initial step in achieving effective operations management?

  • Procurement of machines and equipment
  • Conducting market research
  • Selection of the method of production
  • Hiring the right people (correct)
  • What is a key consideration when selecting a method of production?

  • Mode of production (correct)
  • Availability of raw materials
  • Market demand for the product
  • Number of employees required
  • What is the primary function of operations proper?

  • Recruiting new employees
  • Implementing and running the factory or service shop (correct)
  • Conducting financial analysis
  • Implementing marketing strategies
  • What is the consequence of using wrong methods in operations?

    <p>Inability to attain desired results</p> Signup and view all the answers

    What is the significance of machines in business operations?

    <p>They are necessary for efficient operations</p> Signup and view all the answers

    What is a key criterion for hiring workforce according to Aduana (2017)?

    <p>Educational qualifications and experience</p> Signup and view all the answers

    What is one of the primary goals of the 4Ms of Operations?

    <p>To achieve a specific business opportunity</p> Signup and view all the answers

    What is the term for the series of actions or steps taken to achieve a particular end?

    <p>Method</p> Signup and view all the answers

    What is the primary function of manpower in the production process?

    <p>To provide the skills and expertise needed to produce goods or services</p> Signup and view all the answers

    What is one of the primary benefits of effective production management to the firm's reputation?

    <p>Improved goodwill and image</p> Signup and view all the answers

    How does production management support other functional areas in the organization?

    <p>By allowing human resources to manage the workforce more effectively</p> Signup and view all the answers

    What is an example of a machine in the production process?

    <p>A gas stove</p> Signup and view all the answers

    What is one of the key benefits of production management in terms of resource utilization?

    <p>Optimum utilization of resources such as manpower, machines, methods, and materials</p> Signup and view all the answers

    What is the term for the raw materials needed in the production process?

    <p>Materials</p> Signup and view all the answers

    What is a consequence of effective production management on the firm's cost objectives?

    <p>Achieving cost efficiency objectives</p> Signup and view all the answers

    What is the result of the production process?

    <p>A finished product</p> Signup and view all the answers

    How does production management impact the firm's growth prospects?

    <p>It enables the firm to expand and grow</p> Signup and view all the answers

    What is a broader impact of production management on the economy?

    <p>It generates employment opportunities</p> Signup and view all the answers

    What is management in the context of entrepreneurship?

    <p>The art of getting things done with and through other people</p> Signup and view all the answers

    What is the primary purpose of Operations Management?

    <p>To produce goods and services that provide the reason for the organization's existence</p> Signup and view all the answers

    What are the four components of the 4M's of operations?

    <p>Manpower, Method, Machine, and Materials</p> Signup and view all the answers

    What is the role of manpower in the manufacturing process?

    <p>To operate and maintain machines</p> Signup and view all the answers

    What is the output of the production process?

    <p>Final Product</p> Signup and view all the answers

    Why are good people required to operate and maintain machines?

    <p>Because factories require good people to operate and maintain the machine</p> Signup and view all the answers

    What is the primary concern of a Human Resource Manager when starting a business?

    <p>Getting the right people</p> Signup and view all the answers

    During the Covid-19 pandemic, what is a key consideration for a Human Resource Manager of SM City Naga?

    <p>Staff protection</p> Signup and view all the answers

    What is the purpose of creating an infographic in Activity 3?

    <p>To communicate important information visually</p> Signup and view all the answers

    What is an essential element of a well-designed infographic, according to the rubric?

    <p>All of the above</p> Signup and view all the answers

    What is the minimum distance from which labels on an infographic should be readable?

    <p>3 feet</p> Signup and view all the answers

    What is the purpose of including a source citation for borrowed graphics in an infographic?

    <p>To avoid plagiarism</p> Signup and view all the answers

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