Operations Performance and Management
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Questions and Answers

What is the primary function of operations management?

  • To manage financial resources
  • To develop marketing strategies
  • To respond to customers' needs (correct)
  • To build difficult-to-imitate capabilities

    • How can operations management contribute to an organization's overall strategy?

  • By building difficult-to-imitate capabilities (correct)
  • By conducting market research
  • By increasing sales revenue
  • By managing human resources effectively

    • What is a key focus of operations management?

  • Negotiating with suppliers
  • Managing advertising campaigns
  • Conducting customer surveys
  • Improving production line efficiency (correct)

    • At what level can operations performance be assessed using the idea of the 'triple bottom line'?

    <p>Societal level</p> Signup and view all the answers

    What are the five operations 'performance objectives' used to assess operational level performance?

    <p>Quality, speed, cost, flexibility, dependability</p> Signup and view all the answers

    What is the strategic impact of 'difficult-to-imitate' capabilities built by operations management?

    <p>Significant strategic impact</p> Signup and view all the answers

    Which term is used to describe the idea that organizations should measure themselves not just on the traditional economic profit, but also on the impact their operations have on society and the ecological impact on the environment?

    <p>Corporate Social Responsibility</p> Signup and view all the answers

    What is a sustainable business?

    <p>A business that minimizes the damage to the environment and enhances the existence of people it has contact with</p> Signup and view all the answers

    What is the 'social bottom line' according to the text?

    <p>The impact of operations on the quality of people's lives</p> Signup and view all the answers

    Which of the following is an example of how operations can impact the social bottom line performance?

    <p>Non-exploitation of developing country suppliers</p> Signup and view all the answers

    What does 'environmental sustainability' refer to according to the text?

    <p>Ensuring development actions compensate for environmental loss or degradation</p> Signup and view all the answers

    What is the main focus of 'Triple Bottom Line' approach?

    <p>Balancing economic, social, and environmental impacts of operations</p> Signup and view all the answers

    What is a key responsibility of the operations function in any organization?

    <p>Setting objectives based on stakeholder interests and corporate social responsibility</p> Signup and view all the answers

    What does 'listening and responding to the needs of a company’s stakeholders' refer to according to the text?

    <p>'Corporate Social Responsibility'</p> Signup and view all the answers

    What is meant by 'The Triple Bottom Line – People Planet Profit' according to the text?

    <p>'Sustainability' initiative where companies measure themselves based on social and environmental impacts in addition to economic profit</p> Signup and view all the answers

    What kind of jobs and work patterns contribute to social bottom line performance according to the text?

    <p>Jobs and patterns which allow individuals to use their talents without undue stress.</p> Signup and view all the answers

    What is the primary characteristic of strategy according to the text?

    <p>Setting broad objectives for the overall goal</p> Signup and view all the answers

    How is 'operations strategy' defined in the text?

    <p>The long-term vision and objectives of an operation</p> Signup and view all the answers

    What does 'operations' refer to as mentioned in the text?

    <p>The resources creating products and services</p> Signup and view all the answers

    What is the main focus of 'Triple Bottom Line' approach according to the text?

    <p>Balancing economic, social, and environmental impacts</p> Signup and view all the answers

    What is meant by 'The Triple Bottom Line – People Planet Profit' according to the text?

    <p>Assessing impact on society and environment alongside economic profit</p> Signup and view all the answers

    What is a key responsibility of the operations function in any organization based on the text?

    <p>Contributing to overall strategy of the business</p> Signup and view all the answers

    What is the primary focus of Stage 1 operations according to the text?

    <p>Avoiding mistakes</p> Signup and view all the answers

    In which stage of operations does the function aim to become 'externally neutral' with operations in the industry?

    <p>Stage 2</p> Signup and view all the answers

    What characterizes Stage 3 operations according to the text?

    <p>Gaining a clear view of strategic goals</p> Signup and view all the answers

    What is the main goal of Stage 4 operations according to the text?

    <p>Providing the foundation for competitive success</p> Signup and view all the answers

    Which perspective of operations strategy aligns with what the whole group or business wants?

    <p>Top-down</p> Signup and view all the answers

    What is the key focus of corporate strategy according to the text?

    <p>Positioning the corporation in its global environment</p> Signup and view all the answers

    'Bottom-up' operations strategy should learn from what according to the text?

    <p>Day-to-day activities</p> Signup and view all the answers

    'Inside-out' operations strategy should develop what according to the text?

    <p>The business’s resources and processes</p> Signup and view all the answers

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