Operations Management

What does it indicate if a company has high revenue but low profit margins?

• The company is efficiently managing its expenses.

• The company is experiencing high operational costs.

• The company is reducing its product prices.

• The company is expanding its market share.

What is the primary goal of Operations Management in business practices?

• To reduce the number of employees

• To maximize operational efficiency

• To limit the scope of business activities

• To decrease product quality

Which of the following is NOT a focus area of Operations Management?

• Supply chain management

• Quality management

• Capacity management

• Customer personal data management

Operations Management provides business leaders with tools and vision to:

• Increase investment in technology only

• Design or redesign business processes

• Focus solely on marketing strategies

• Reduce the overall business size

What does Operations Management involve converting into goods/services?

• Ideas and concepts

• Materials and labor

• Financial investments

• Business partnerships

What resources are utilized in operations management?

• Staff, Materials, Equipment, Technology

• Finance, Marketing, Human Resources, Customer Service

• Planning, Organizing, Leading, Controlling

• Budgeting, Forecasting, Scheduling, Procurement

What are the primary responsibilities of operations managers?

• Acquire, Develop, Deliver goods

• Marketing, Sales, Customer Service

• Hiring, Training, Performance Evaluations

• Budgeting, Accounting, Financial Reporting

What is one of the strategic issues handled by operations management?

• Employee recruitment

• Determining size of manufacturing plants

• Marketing strategies

• Financial accounting

Which of the following is NOT an operational issue managed by operations management?

• Quality control

• Materials handling

• Consumer analysis

• Management of inventory levels

What does operations management involve in terms of materials?

• Investment strategies

• Hiring processes

• Raw materials acquisition

• Product pricing