U3 Business AOS3 - Operation management

Match the following

• Effectiveness

• How well a business uses resources in achieving its objectives

• Business competitiveness

• The degree to which a business has accomplished its stated objectives

• Operation management

• All the activities in which managers engage to produce goods or services

• Efficiency

• The resources used in the production process

• Inputs

• The ability of a business to sell products in a market

​ (a)   refers to the degree to which a business has accomplished its stated ​ (b)   , while ​ (c)   refers to how well a business uses ​ (d)   in achieving these objectives. If a business’s objective is to make profit, then improving profit from one year to the next means that the business is considered to be ​ (e)   .

• Effectiveness
• efficiency
• resources
• effective
• objectives

What is the main objective of operations management in a business?

• To increase market share

• To improve customer satisfaction

• To achieve growth

• To maximise efficiency and productivity

What is the main objective of operations management in a business regarding inputs?

• To minimise the costs associated with inputs

• To improve quality of inputs

• To use more inputs

• To lower the quality of inputs 

Match the following

• Inputs

• Capital equipment and materials

• Transformation process

• The result of a business’s efforts — the final good or service that is delivered or provided to the consumer

• Service inputs

• The conversion of inputs (resources) into outputs (goods or services)

• Outputs

• Buildings, technology and human input

• Manufacturing inputs

• The resources used in the process of production. Some resources are owned by the business, while others are from suppliers

Inputs, outputs and processes are all key elements of operations management.

• True

• False

The main concept of operations management is the ​ (a)   that the ​ (b)   (resources) undergo to become the ​ (c)   (goods or services). This is often referred to as the ​ (d)   process. 

• process
• output
• transformation
• inputs

Select the main inputs of a business in operations management.

• Raw materials, labour and technology

• Market research, branding and advertising

• Financial resources and market analysis

• Production, logistics and distribution networks

Which of the following are considered to be the natural resources and materials in operations management?

• Market research, branding, and advertising which supports operations management

• Raw materials, components and parts consumed or converted by the transformation process

• People involved in the operations function

• The plant, machinery, equipment and property necessary to conduct operations

Match the following

• Intangible

• A company that offers an intangible item that is typically provided by a person or employees of an organisation

• Manufacturing business

• Physical products that can be handled and stored before they are sold to the consumer

• Service business

• They cannot be touched or stored and the customer may not be present

• Tangible

• A business that uses components, parts or raw materials to make a finished good