Cindy

Define the term "operations" as used in business.

• The process of marketing goods
• The production of goods and services using inputs (land, labour, capital, enterprise) to produce outputs
• The process of financial management
• The design of advertising campaigns

Define "operations management."

• The management of external sales teams
• The designing and controlling of systems that produce goods or services to meet customer requirements
• The process of determining pricing strategies
• The management of human resource policies

Define the "transformational process" in operations.

• The process of converting raw materials into finished goods or services
• The process of distributing finished products to consumers
• The process of financial planning for production
• The process of designing advertising material

Define "added value" in operations management.

• The difference between sales revenue and costs
• The increase in product value as inputs are transformed into outputs at successive stages
• The total profit margin of a business
• The cost savings from bulk production

Define "efficiency" in the context of operations management.

• The ability to produce high-quality products regardless of cost
• Using resources productively to generate output at a lower cost
• Increasing production speed regardless of waste
• Maximizing advertising spend to boost sales

Define "effectiveness" in operations management.

• The measure of how well inputs are utilized
• How well the final output meets customer needs and performs its intended function
• The speed at which production processes occur
• The level of automation used in production

Define "productivity" in operations management.

• The total output produced divided by the number of workers
• Output per worker per time period
• The ratio of profit to production cost
• The increase in production capacity over time

Define "sustainability" in operations.

• The ability to generate short-term profits
• The ability to use resources in a way that does not compromise future production needs
• The process of recycling waste only
• A focus solely on environmental protection

Define "labour-intensive production."

• Production that uses minimal human labor
• Production that relies heavily on human labor relative to capital
• Production that is fully automated
• Production that relies solely on technology

Define "capital-intensive production."

• Production that relies heavily on machinery and equipment rather than labour
• Production that uses mostly human effort
• Production with no need for machinery
• Production that focuses only on custom products