Podcast
Questions and Answers
What is the main purpose of measuring a company's Net Promoter Score (NPS)?
What is the main purpose of measuring a company's Net Promoter Score (NPS)?
- To determine the company's annual revenue and costs
- To assess customer satisfaction and the likelihood of customer referrals (correct)
- To analyze the company's impact on the environment and society
- To evaluate the company's operations management strategies
How does efficient operations management impact a company's level of investment?
How does efficient operations management impact a company's level of investment?
- It increases the required level of investment due to higher output demands
- It has no impact on the required level of investment
- It decreases the required level of investment by reducing the need for capital employed (correct)
- It increases the required level of investment to improve resilience and recovery from disruptions
Which of the following is NOT one of the five operations 'performance objectives' used to judge operations performance at an operational level?
Which of the following is NOT one of the five operations 'performance objectives' used to judge operations performance at an operational level?
- Quality
- Dependability
- Sustainability (correct)
- Speed
Which of the following is an example of how quality is important in operations management?
Which of the following is an example of how quality is important in operations management?
How can operations managers gain valuable experience to enable future innovation?
How can operations managers gain valuable experience to enable future innovation?
What is the impact of a 5% increase in revenue and a 5% reduction in costs for a business with $1,000,000 in annual revenue and $900,000 in annual costs?
What is the impact of a 5% increase in revenue and a 5% reduction in costs for a business with $1,000,000 in annual revenue and $900,000 in annual costs?
What aspect of operations performance contributes to the 'economic' aspect of the triple bottom line?
What aspect of operations performance contributes to the 'economic' aspect of the triple bottom line?
Which factor determines the cost of products and services in operations management?
Which factor determines the cost of products and services in operations management?
What can significantly impact an organization's strategic 'economic' position according to the text?
What can significantly impact an organization's strategic 'economic' position according to the text?
Which factor directly influences revenue in operations management?
Which factor directly influences revenue in operations management?
Why is efficiency a crucial aspect of performance judgment for many operations managers?
Why is efficiency a crucial aspect of performance judgment for many operations managers?
What are some benefits of even small improvements in cost and revenue in operations management?
What are some benefits of even small improvements in cost and revenue in operations management?
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