PRELIM EXAMINATION II (OPERATIONS MANAGEMENT)

____________________ is a process where a firm identifies its primary and support activities that add value to its final product and then analyze these activities to reduce costs or increase differentiation.

The value that's created and captured by a company is the _____________

The business function responsible for planning, coordinating, and controlling the resources needed to produce a company’s goods and services.

_____________ is the function of an organization that generates sales for goods and services

______________ is carried out for scaling and diversifying businesses with aggressive growth plans in terms of marketing activities, product portfolio expansion and consideration of competitor activities and external economic environment.

Understanding how your company creates value, and looking for ways to add more value, are critical elements in developing a _______________

• marketing strategy

• operations strategy

• competitive strategy

• finance strategy

_____________ introduced the generic value chain model in 1985. Value chain represents all the internal activities a firm engages in to produce goods and services.

• MARY FOLLET

• MICHAEL PORTER

• PETER DRUCKER

• HENRY KOOTZ

Primary activities add value directly to the production process, they are necessarily more important than support activities.

• TRUE

• FALSE

• MAYBE

• SOMEHOW

In the LONG TERM FORECASTING, the seasonal pattern of demand and the effect of tactical decisions on the customer demand are taken into consideration.

• CORRECT

• INCORRECT

• SOMEHOW CORRECT

• EITHER CORRECT OR INCORRECT

______________ is carried out for evaluating the strategic objectives of a business like product portfolio expansion, entering new customer segments, technological disruptions, a paradigm shift in consumer behavior and risk mitigation strategies.

• INTERNEL FORECASTING

• ENVIRONMENTAL FORECASTING

• EXTERNAL FORECASTING

• ECONOMICAL FORECASTING