Operations Management Quiz

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App

Questions and Answers

Which of the following best defines operations management?

  • The management of financial resources within an organization
  • The assessment of consumer wants and needs
  • The analysis of investment proposals
  • The management of systems that create goods and provide services (correct)

What are goods?

  • Processes that provide services or create goods
  • Activities that provide time, location, form, or psychological value
  • Financial resources
  • Physical items such as raw materials and final products (correct)

Where do operations take place?

  • Consumer locations
  • Financial organizations
  • Restaurants, retail stores, supermarkets, factories, hospitals, and colleges/universities (correct)
  • Marketing departments

What is the responsibility of finance within an organization?

<p>Securing financial resources and allocating them throughout the organization (B)</p>
Signup and view all the answers

What is the responsibility of marketing within an organization?

<p>Assessing consumer wants and needs (D)</p>
Signup and view all the answers

Which one of the following best defines goods?

<p>Physical items produced by business organizations (C)</p>
Signup and view all the answers

Which one of the following best defines services?

<p>Activities that provide some combination of time, location, form, and psychological value (D)</p>
Signup and view all the answers

Which one of the following best defines operation management?

<p>The management of systems or processes that create goods and/or provide services (A)</p>
Signup and view all the answers

Which one of the following best defines supply chain?

<p>The sequence of organizations involved in producing and delivering a product or service (C)</p>
Signup and view all the answers

Which one of the following best describes the internal parts of a supply chain?

<p>They are part of the operations function itself, supplying operations with parts (B)</p>
Signup and view all the answers

Flashcards are hidden until you start studying

Study Notes

Operations Management

  • Operations management deals with the design, operation, and improvement of the systems that create and deliver an organization's products and services.

Goods

  • Goods are tangible products that can be seen, touched, and possessed, such as food, clothing, and electronics.

Operations

  • Operations take place in factories, warehouses, and offices where products are produced, stored, and distributed.

Functions of Departments

  • The finance function within an organization is responsible for managing money and making strategic financial decisions.
  • The marketing function within an organization is responsible for promoting and selling products and services.

Definitions

  • Goods are tangible products that can be seen, touched, and possessed.
  • Services are intangible products that cannot be seen, touched, or possessed, such as healthcare and education.
  • Operations management involves the design, operation, and improvement of systems that create and deliver products and services.
  • Supply chain refers to the network of organizations, people, activities, information, and resources involved in producing and delivering a product.
  • Internal supply chain refers to the departments and processes within an organization that work together to produce and deliver products and services.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Quiz Team

More Like This

Use Quizgecko on...
Open
Browser
Browser