Operations Management & Value Chains Quiz

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.

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.

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)

<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

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