OM 2

What is Operations Management?

• A) The process of hiring people within an organization
  

• B) The activity of managing the resources of the organization that deliver goods and services
  

• C) The system used for financial accounting and reporting in a company
  

• D) The strategy for marketing and selling products

What is the main difference between operations and projects?

• A) Operations are unique and temporary, while projects are ongoing and permanent.
  

• B) Operations and projects both refer to tasks that have a definitive beginning and ending.
  

• C) Projects are unique and temporary with a definitive beginning and ending, while operations are ongoing and permanent.
  

• D) Projects are continuous without a specific end date, whereas operations are non-repetitive and occur only once.

What best describes the nature of operations in business?

• A) Temporary activities that focus on completing a project
  

• B) One-time events that occur irregularly within the organization
  

• C) Ongoing, continuous activities that produce the same products or services over time
  

• D) Sporadic and unique tasks that differ day by day

Which of the following statements correctly describes a key difference between operations and projects?

• A) Operations and projects both have a specific start and end date.
  

• B) Operations aim to achieve one-time goals, while projects focus on repetitive and routine outcomes.
  

• C) Operations are ongoing without a defined end date, focusing on consistent output, while projects are temporary, aiming to achieve particular goals and embracing change.
  

• D) Projects focus on achieving efficiency and stability in processes, whereas operations are unique tasks that change regularly.

What is Supply Chain Management?

• A) The process of controlling internal production within a single facility.
  

• B) The management of financial transactions between a company and its customers.
  

• C) The handling of the entire production flow of a good or service, from raw components to delivery to consumers.
  

• D) The marketing strategy used to advertise products to potential buyers.

What is Product Design?

• A) The financial analysis of a product's profitability.
  

• B) The logistics of distributing a product to retailers.
  

• C) The process of ideating, developing, and refining products to meet market needs and solve user problems.
  

• D) The manufacturing of a product using pre-established designs.

What is Forecasting in the context of operations management?

• A) The process of estimating the amount of raw materials needed for production.
  

• B) The process of projecting past sales demand into the future.
  

• C) The process of predicting when a product will become obsolete.
  

• D) The process of scheduling employees for future work based on expected sales.