Operations Management & Value Chains Quiz
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Questions and Answers

What is one of the learning objectives of studying operations management in this chapter?

  • Explain the concept and importance of operations management. (correct)
  • Define the concept of value and explain how the value of goods and services can be enhanced.
  • Describe what operations managers do.
  • Explain the differences between goods and services.

    • What is the difference between goods and services, as mentioned in the text?

  • Goods and services are both intangible actions or performances.
  • Goods are intangible actions or performances, while services are tangible products.
  • Goods are tangible products, while services are intangible actions or performances. (correct)
  • Goods and services are the same thing.

    • What is a customer benefit package, as described in the text?

  • A package of benefits that customers receive after purchasing a product or service.
  • A package of benefits that only some customers receive when purchasing a product or service.
  • A package that customers receive for free when purchasing a product or service.
  • A package of benefits that customers receive when purchasing a product or service. (correct)

    • What is the difference between value chains and supply chains, as mentioned in the text?

    <p>Value chains focus on creating value for customers, while supply chains focus on the flow of goods and services.</p> Signup and view all the answers

    What are the three general types of processes in a business, as identified in the text?

    <p>Input, transformation, and output processes.</p> Signup and view all the answers

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