U3 Business AOS3 - Operation management

Match the following

• Operation management

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

• Inputs

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

• Effectiveness

• The resources used in the production process

• Efficiency

• How well a business uses resources in achieving its objectives

• Business competitiveness

• 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

• Manufacturing inputs

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

• Service inputs

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

• Inputs

• Capital equipment and materials

• Outputs

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

• Transformation process

• Buildings, technology and human input

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

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

• Tangible

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

• Service business

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

• Manufacturing business

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