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Strategic Evaluation of Operations Performance Quiz

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Strategic Evaluation of Operations Performance Quiz

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Questions and Answers

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?

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?

Quality

Dependability

Sustainability (correct)

Speed

Which of the following is an example of how quality is important in operations management?

Quality reduces costs by reducing errors and time needed to correct them Signup and view all the answers

How can operations managers gain valuable experience to enable future innovation?

By learning from their processes and building skills, knowledge, and experience Signup and view all the answers

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?

The profitability of the business would increase by 95% Signup and view all the answers

What aspect of operations performance contributes to the 'economic' aspect of the triple bottom line?

Quality, speed, dependability, and flexibility Signup and view all the answers

Which factor determines the cost of products and services in operations management?

Efficiency of purchasing and converting transformed resources Signup and view all the answers

What can significantly impact an organization's strategic 'economic' position according to the text?

Decisions and activities carried out by operations managers Signup and view all the answers

Which factor directly influences revenue in operations management?

Quality, speed of delivery, dependability, and flexibility Signup and view all the answers

Why is efficiency a crucial aspect of performance judgment for many operations managers?

It determines the cost of products and services Signup and view all the answers

What are some benefits of even small improvements in cost and revenue in operations management?

Proportionally greater effect on profitability Signup and view all the answers