ib Business Management Unit 5.1

Takes place during the production process when the value of output to consumers is greater than the costs of production to the firm.

• Economic sustainability

• Value added

• Social sustainability

• Operations Management

The ability of the society to develop in such a way that it meets the social well-being needs of the current and future generations.

• Social sustainability

• Economic sustainability

• Ecological sustainability

• Social entrepreneurship

The sector that provides intellectual, knowledge-based activities to generate and share information, eg R&D, consultancy services and scientific research.

• Primary

• Secondary

• Quaternary

• Quinternary

The role of operations management impacts on all functional areas of a business

• Ture

• False

The role of operations management is to turn factors of production into the output of goods and services in a cost-effective way.

• True

• False

The tertiary sector provides services, so is not considered to be part of operations management

• True

• False

Labour intensive production means firms hire more people than any other factor of production.

• True

• False

Green technologies and recycling have an important role in ensuring sustainable production to meet the needs of people today and those of future generations.

• True

• False

Which stage of production does operations management apply to?

• Primary

• Secondary

• Tertiary

• All of them

Operations management strategies and practices do not include

• Ecological sustainability

• Economic social sustainability

• Sustainability

• Technological sustainability