Reference no: EM132215178
1. According to the text, operation management is a set of activities that creates value in form of goods and services by transforming inputs into outputs.
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2. 3 factors of productivity variables are capital, labor, management, technology and tools..
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3. OM is important because it is one of the three major functions of any organization including marketing and finance/accounting.
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4. Operations management is demanding, challenging, and exciting. It affects our lives every day. Ultimately, operation managers determine how well we live
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5. Hard Rock café in Orlando, Florida, prepares 5000 meals each day. Operation managers serve hot food hotter and cold food, colder as its differentiation
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6. A SWOT analysis is a formal review of External strength and weakness and External Opportunities and threats.
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7. In the text, the mission statements for the following three organizations: Phizer, Coca Cola and North Well hospitals are explained
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8. According to a quiz post, the starting salary for an OM can be anywhere from 100 to 200K depending on position.
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9. Operations managers are responsible for assessing consumer wants and needs and selling and promoting the organization's goods and services.
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10. Productivity is calculated by dividing units produced(output) by Input used.
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11. Multifactor productivity is calculated by dividing input by several resource input such as labor, material, capital, etc..
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12. Maintenance, quantity/quality, and layout and lean design are all part of the strategic OM decisions.
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13. The ten strategic operations management decisions start with design of goods and services and end with Forecasting.
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14. Process and capacity strategy is one of the ten strategic operation management decision which determines how a good or service is produced
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15. About 40% of all jobs are in OM
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16. Assignment 2 has three excel projects, computing labor and manufacturing productivity, factor rating analysis, and Microsoft project.
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17. About 70% of Hard Rock guest are tourist and more than 40% of the revenue comes from the retail rather than food.
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18. Hard Rock café brings the concepts of the “experience economy” to its café operations.
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19. Productivity increase when inputs decrease while outputs remain the same.
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20. Globalization means customer, talent and suppliers are wordwide and company profile is everywhere.
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21. The three strategic approaches to competitive advantage are differentiation, cost leadership, and response.
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22. Human effort, technology, raw materials, information and time are all examples of the necessary inputs to operations.
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23. Supply Chain can be improved by locating facilities domestically where unique resources are available.
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24. Location and layout space design are the same thing in the ten decision strategies.
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25. In the U.S., the service sector provides almost 80% of all jobs.
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26. an international strategy is a strategy that penetrates global markets by using exports and licenses.
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27. The three basic functions of business organizations are: finance, operations, and marketing.
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28. We study OM because it’s an inexpensive part of an organization and it’s about how the service is produced.
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29. Two bricklayers work together to build a 320 brick wall in an 8 hour work day. if they are paid $10 per hour, their productivity is $3.99.
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30. Is Competitive Advantage the relative performance of an organization compared to its competition; must have unique capabilities that produce greater financial results than competition.
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31. Value chain analysis can be defined as a way to analyze the five forces in the competitive environment.
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32. Competitive advantage is the creation of a unique disadvantage over competitors.
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33. Sum of the product function in excel used in assignment 2 factor rating as well as text book.
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34. Stakeholders are those with a vested interest in an organization, including customers, distributors, employees and community members.
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35. Single factor productivity indicates the ratio of one resource (input) to the goods and services produced.
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36. An employee can potentially earn 20% more with a PMP certification?
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37. Manufacturers produce intangible products while service production are often tangible.
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38. Many products are a combination of a goods and services, which simplifies the definition of service by U.S. government.
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39. Response is a set of values related to rapid, flexible and reliable performance.
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40. The years 2005-2020 are known as globalization Era.
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41. Gantt charts, PERT/CPM where designed in globalization Era
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42. Cost focus, quality focus, customization focus, and globalization focus are significant events in operation management
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43. Teller scheduling is responsibility of marketing management instead of operation management
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44. Efficient production of goods and services does not require effective applications of concepts tools and techniques
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45. Plant manager, operation manager, quality manager, suply-chain manager are jobs related to OM
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46. You only need to discuss four days in each of the discussions.
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47. According to Dr. Ebrahimi, everyone has two jobs. One is to do what suppose to do and the other is to improve it.
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48. Product design usually determines the lower limits of costs and the upper limits of quality as important factors
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49. Scheduling determine and implement intermediate, short term and how to intergrade the supply chain
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50. An organization can have competitive advantage through some combination of product differentiation, low cost, and response.
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