PB&F Obj. 4.01 - 4.03 Business Operations Management

Which is a example of a short-term objective?

• becoming president of a large corporation

• paying off a twenty-five-year mortgage

• finishing a six-week computer software course

• becoming fluent in a foreign language

Which question should be answered by the purchasing function?

• How can we inform customers of available merchandise?

• How much merchandise should we buy?

• How will merchandise be shipped to us?

• How can we protect merchandise from pilferage?

By purchasing just the quantity of supplies that is needed, purchasing can:

• plan the company's cash flow.

• provide an uninterrupted flow of supplies.

• buy supplies at the lowest possible price.

• minimize inventory investment

Which processes turn economic resources into goods and services?

• distribution

• marketing

• promotion

• production

Some businesses use an automatic reorder system to maintain an adequate:

• budget for expenses

• work environment

• inventory of supplies

• maintenance system

The primary reason that governments develop workplace health and safety regulations is to:

• protect employees from injury and illness.

• reduce the risk of employment discrimination.

• ensure that employees have access to insurance.

• prevent the breach of business information systems.

The first step in maintaining an inventory of supplies for the business is to:

• conduct research to find vendors that sell the supplies.

• develop a list of supplies that the business needs

• compare prices among vendors.

• organize a space to store the supplies.

What production activity evaluates products to make sure that the products the business produces meet certain quality standards?

• form utility

• automation

• follow-up

• standardization

One way a business can reduce the risk of accidents in the workplace is by providing its employees with:

• safety training

• electronic data interchange (EDI)

• supply manuals

• weight-loss programs

Maintaining an inventory of supplies helps a business to:

• establish sales goals

• operate efficiently

• locate vendors

• evaluate processes