Quiz on Unit 5

Which of the following considers the impact of an organization on the natural environment is known as?

• Ecological sustainability

• Triple Bottom Line

• Economic sustainability

• Social sustainability

The ability of an organization or an economy to continue its business activities indefinitely, without jeopardising opportunities for future generations.

• Triple Bottom Line

• Operation Management

• Sustainability

• Empowerment

Also known as 'operations management', this refers to the process of organizing resources in order to produce goods and/or provide services.

• Marketing

• Financial

• Human Resources

• Production

Elkington’s model of three pillars (aspects) of sustainability that businesses need to consider: social, ecological and economic sustainability (or people, planet and profits).

• Ecological

• Triple Bottom Line

• Social

• Economic

Which of the following is a correct statement about operations management?

• It is an integral part of an organization's decision making process

• It is self-funded and does not need monitoring due to automation

• It does not directly affect human resources, marketing and finance.

• It is only implemented by using capital (machines and equipment)

Which production method enables firms to benefit from lower production costs due to economies of scale?

• Batch production

• Cellular production

• Flow production

• Job production

Which term describes the factors within a firm's own control that enable it  to reduce the average costs of production due to an increase in the level of output?

• Diversification

• Margin of Safety

• Internal economies of scale

• Nil

Which production method allows workers to operate in teams with a degree of autonomy?

• Job production

• Batch production

• Cellular production

• Mass production

Which statement applies to capital-intensive production?

• Inexpensive method of production

• Highly suited to job production

• Requires high level of human resources in the production process

• It can enable firms to gain from economies of scale

Which of the following products would be most suited to job production?

• IB textbook publisher

• Smartphone manufacturer

• Wedding photographer

• Fruit farmer