Operations Management Test Bank

INSTRUCTOR'S TEST BANK Chapter 1: Introduction 1 Why would a marketing major need a basic foundation in operations management? A) Marketing staff schedule work centers for most businesses B) Marketing staff must know how to design processes C) Marketing staff must be able to make decisions with the entire business in mind D) Marketing staff must understand the technical processes behind manufacturing capacity management C 2 The value of a product is defined by: A) The owner B) The potential customer C) The price initially paid for the product being soldD) The actual cost of ownership over the products life B 3 A critical difference between a product and a service is: A) A product is tangible, but a service is not. B) A product is expensive, but a service is not. C) A product is often poor quality, but a service is not. D) A product is made with cheap labor, but a service is not. A 4 One reason producers of products also provide customers with services is: A) They don't know any bette r. B) Services can be added at no cost. C) Services differentiate them from competitors. D) Services are easier to match to customer needs.C 5 One reason services are more difficult to manage than manufacturing is: A) Services can't be stored as inventory for later use. B) Service employees aren't as flexible as manufacturing employees. C) Service customers are more demanding. D) Services can't define processes precisely. A 6 A B2B customer would value a product differently than a B2C customer because: A) Businesses have more money to spend than consumers. B) Businesses must consider how much value the product will add to the products and services they sell.C) Consumers can't define quality very well. A) Services can't be stored as inventory for later use. B) Service employees aren't as flexible as manufacturing employees. C) Service customers are more demanding. D) Services can't define processes precisely. A 6 A B2B customer would value a product differently than a B2C customer be cause: A) Businesses have more money to spend than consumers. B) Businesses must consider how much value the product will add to the products and services they sell.C) Consumers can't define quality very well. D) Consumers are not as concerned about costs as businesses. B 7 Profitability results from: A) High sales prices B) Minimal workers with low salaries C) The value being greater than the cost to create it D) Unintelligent customers C 8 An important part of a strategy is: A) Writing down plans for processes B) Identifying suppliers of inputs to processes C) Establishing productivity measures for processes D) Identifying what target customers value D 9Timeliness is a critical component of value for a business because: A) Timeliness has a direct impact on a business's return on investment. B) Business owners are impatient. C) Businesses are typically late and need things right away. D) Most products spoil quickly. A 1 0 D In the resource/profit model the resources used to create value are: A) Time, materials, machines, and people B) Natural resources, animal products, crops C) Labor, materials, cash, buildings, and transportation equipment D) Inventory, workforce, capacity, facilities

Accountability of Equipment Essay

The reason I am writing this essay is because leaving ones equipment laying around degrades the efficiency of the work environment. It binds up all the components that naturally flow causing more problems to arise that are normally not present. Typical the machine is free of problems but, is now faced with correcting the issue at hand rather than carrying on with its work. If even a single component is out of place the unit doesn’t function properly and the whole suffers. An old saying comes to mind that describes this situation and the point I’m trying to make perfectly. For want of a nail the shoe was lost. For want of a shoe the horse was lost. For want of a horse the rider was lost. For want of a rider the message was lost. For want of a message the battle was lost. For want of a battle the kingdom was lost. And all for the want of a horseshoe nail. I believe this point conveys the meaning of this paper quiet well. It demonstrates the issues that lacking a single component can have on the group as a whole. The three main points I am going to hit on in this paper are decreased individual readiness, overall unit readiness, and the individuals who benefit from my inability to maintain my equipment. See more:  Social Satire in The Adventures of Huckleberry Finn Essay When I say individual readiness I am talking about my efficiency as one to be able to do my required task weather in training or in a combat situation in this particular instant I lost accountability for my mitch  without it I am unable to perform basic task that are required by me. All training I can conduct is halted. There are few options that are available for me I can either continue without the proper head gear and what I am capable of doing is greatly reduced and the rest of the team and squad are left to fill in and are greatly weakened. All because one person felt they could be unaccountable for one piece of equipment. Even if the individually was able to borrow the equipment from another person that person is now left with a shortage and there capabilities are diminished. I doesn’t seem like the short fallings of one person would affect any one other than the individual in question but, anyone who counts on that person are left to cove for them putting undue stress on them. This show the importance of a single individual or a single piece of equipment can have dire effects on the whole of the unit. If everyone is incapable of pulling their own weight then they have no place in the group and are just dead weight but even with their absences they are causing undue strain to the whole. This is why individual readiness is important not only to the individual but to the unit as a whole. Without everyone maintaining their gear and themselves everyone hurts.

Why was it is necessary to replace GATT 1947 what are the main Essay

Why was it is necessary to replace GATT 1947 what are the main differences between GATT 1947 and the WTO Do you think that the - Essay Example .................................................................... 5 Interim Commission for the International Trade Organisation (1947-1994).......5 Review Session (1950s)....................................................................................... 6 European Economic Community (EEC) (1957).................................................. 6 Multifibre Arrangements (MFA-I through MFA-IV).......................................... 6 The Uruguay Round (1993-1994)....................................................................... 8 Multilateral Investment Agreement (MIA) (1996)............................................... 9 U.S. Corporate Average Fuel Economy .............................................................. 9 Dispute Settlement Body (DSB)............................................................................10 WTO’s Articles III and IV.....................................................................................10 Converting GATT 1947 to WTO Introduction The GATT was formed by states with a decisive idea of the co-operation that was required to promote economic development and modernisation. Even though the idea required an International Trade Organisation (ITO), the GATT was also able to achieve the goals of the original participants.1 It was, to a certain extent, efficient trade-liberalising machinery. The removal of QRs by developed nations in the aftermath of World War II was confined under its control, and excise taxes were cut down considerably.2 Barriers to trade, as of the 1970s, in the form of quotas and tariffs had weakened radically in value3, and governments were beset by the trade-misleading features of other economic strategies. The first five decades of GATT’s existence has a close resemblance to a product’s lifecycle. In the beginning market growth is sluggish, as the public become used to it. This is pursued by a phase of drastic improvement of market productivity and share as the pro duct launches.4 In the developed or third phase, growth stabilises but profits remain elevated. In the last stage profits start to drop. Core marketing theory informs us that by the third phase a company had to create a new product in order to thrive and survive.5 In the case of GATT, the stages of take off and maturity took place in the 1950s and the 1960s.6 This was the time when the greatest development was accomplished in terms of trade liberalisation. The demand for the products of GATT had stabilised by the 1970s.7 An effort was made to branch out into new markets by moving to non-tariff barriers (NTB), but this move was not quite productive. Indecisive strategies were implemented to deal with trade-related national regulations, but development was sluggish.8 The GATT-1947, with the formation of the World Trade Organisation (WTO), was converted into an organisation, and its expanse was considerably enlarged.9 Hence, the important issues to be addressed here are: (1) why was it necessary to replace GATT 1947? (2) What are the main differences between GATT 1947 and the WTO? (3) Is WTO an improvement, if so, why? In addressing these issues it is helpful to analyse briefly several of the major developments that took place in the world economy in the twentieth century. From GATT 1947 to WTO GATT was not officially a global organisation, specifically, an official unit in its own right. GATT is an inter-governmental agreement. Hence, GATT had contracting participants rather than member states.10 This transformed with the formation of an international organisation that governs multilateral contracts concerning trade in goods, trade-related aspects of intellectual property rights (TRIPs), and trade in services (GATS): the WTO.11 The different treaties governed by the WTO are between customs territories

The use of ultrasonography in the diagnosis, staging and therapy of Essay

The use of ultrasonography in the diagnosis, staging and therapy of hepatocellular carcinoma - Essay Example Also, the incidence of HCC worldwide varies according to the prevalence of hepatitis B and C infections. In the US, the incidence is 4 cases per 100,000. In areas such as Asia and sub-Saharan Africa, the rates are as high as 120 cases per 100,000 (Stuart, 2006). It occurs more commonly in men than in women. The median age of diagnosis the United States and Europe  is 65 years. In the African and Asian countries where the incidence is high, the age of diagnosis can be even in the 4th and 5th decades. The median survival from the time of diagnosis is generally 6 months. Length of survival depends largely on the extent of cirrhosis in the liver. Cirrhotic patients have shorter survival times, and in cases of  portal vein occlusion, the prognosis is even worse (Stuart, 2006). Cure  through surgery  is possible in less than 5% of all patients. Due to the multifocality nature of the tumor and invasion of the tumor into portal vein, surgical resection can be performed only in 20% cases (Wu, 2005). Death in HCC occurs due to hepatic failure, cachexia, variceal bleeding or even due to tumor rupture and bleeding into the peritoneum. The patients generally present with symptoms related to cirrhosis like pruritus, jaundice, variceal bleeding, cachexia, pain in the hepatic region, increasing abdominal girth, splenomegaly and hepatic encephalopathy (Stuart, 2006). The etiology of cirrhosis could be alcohol induced, infections due to Hepatitis B or C, hemochromatosis, aflatoxin or even primary biliary cirrhosis, androgenic steroids, primary sclerosing cholangitis, 1-antitrypsin deficiency, Thorotrast radioactive contrast, oral contraceptives, and porphyria cutanea tarda (Stuart, 2006). In about 80% of cases, cirrhosis is the cause. However, 20% of cases are due to noncirrhotic, nonviral causes (Ulmer, 2000). Liver being the largest organ in the body varies considerably in size and configuration from

Compare the neighbors in Mending Wall and The Ax-Helve- Robert Frost Essay

Compare the neighbors in Mending Wall and The Ax-Helve- Robert Frost - Essay Example The structural background of the neighborhood in the two stories appeared to indicate like attributes. There is a rural sense in Frost’s two poems, with illustrations â€Å"in the woods† (â€Å"The Ax-Helve† pt. 3) to â€Å"beyond the hill† (â€Å"Mending Wall† pt. 12). Common pieces are the provincial atmosphere in which their physical conditions are anchored on. Neighboring values can also be observed, as protagonists enact suspicious stance towards the intentions of their neighbors. With â€Å"The Ax-Helve,† the protagonist deemed in necessary to â€Å"judge if what he (Baptiste) knew about an ax. That not everybody else knew was to count† (pt. 44). On the other side, doubts on other’s motive led the protagonist in â€Å"Mending Wall† to issue an order to â€Å"Stay where you are until our backs are turned† (pt. 19). Such emotions, as explained in naturalism concept, possess internal aspects of uncontrollable in fluence, manifesting itself in the wary way protagonists proceed.

Teaching Creativity in British Schools Essay Example | Topics and Well Written Essays - 1250 words

Teaching Creativity in British Schools - Essay Example Creative Partnerships brings creative professionals into schools to help educators teach creative skills that those professionals believe are valuable in the workplace (Creative Partnerships 2010). In this way, Creative Partnerships hopes to produce students with a passion for learning who are also likely to be hired by companies after graduation (Princewaterhouse Coopers LLP 2010). On the surface, Creative Partnerships seems like an excellent plan. Encouraging children to meet with artists and other creative practitioners from the workplace would encourage them to study harder and explore their skills to find out in which ways they could succeed too. However, as this report shows, such surface feelings cannot and should not always be taken at face value. Deeper research has dug up a surprising number of flaws and inconsistencies within the Creative Partnerships programme that warrant further investigation. Creative Partnerships was formed in 2002 as a result of the governmental repo rt â€Å"All our Futures†, which was published in 1999 by the National Advisory Committee on Creative and Cultural Educations (Creative Partnerships 2010). ... Instead, the authors argue for education that exposes students to creative thinking, which they believe would build a capacity for original thought and translate into life skills for the students. One point of this report which is the cornerstone of the resulting Creative Partnerships project is the idea that creativity is not innate, but can in fact be taught (National Advisory Committee on Creative and Cultural Education 1999). However, despite their desire to include creativity in the workplace outside of simply exposing students to visual or performance art, this area of the programme has been found to be decidedly lacking (House of Commons Education and Skills Committee 2007). Creative Partnerships is fond of repeating that their programme will bring about economic benefit. Primarily, they cite an â€Å"independent research paper† that found an economic benefit of ?15.30 for every ?1.00 invested in the programme (Creative Partnerships 2010; Princewaterhouse Coopers LLP 20 10). However, it is important to note that while Princewaterhouse Coopers is an independent business entity, the study was paid for by Creativity, Culture and Education, which is the governmental agency responsible for overseeing the Creative Partnerships programme. When statements such as â€Å"this flagship creative learning programme fosters long-term partnerships between schools and creative professionals to inspire, open minds and harness the potential of creative learning† are used to describe the supposedly separate organisation, heavy doubt is cast on the impartiality of the report (Princewaterhouse Coopers LLP 2010, p6). Creative Partnerships is not the only creativity or arts programme recently introduced to the English educational curriculum (Jones & Thomson 2008). However, these

Exam Habits Research Paper Example | Topics and Well Written Essays - 1000 words

Exam Habits - Research Paper Example deed, both the parents and the teachers have a desire for students to perform well, however, they provide little guidance on determining the most appropriate learning techniques that would work to enhance educational outcomes (Barrass, 2002). Based on this perspective, this paper examines Exam habits are determined by the learning techniques that students engage. There are various principles that comprise the states of learning. First, an individual must be in the right state of mind. Knowledge is impacted when a particular individual makes an effort towards learning. An example of such an aspect involves the learner to have positive expectations towards the learning process (C.E., 1988). Secondly, is that there must be a variety of ways of input. Some individuals learn better by using numerous input methods. This involves aspects such as asking of questions during the learning process. In the different states of learning, there are four main stages of competence. The first stage is that of unconscious incompetence in which an individual is mot in a position to understand something while at the same time does not recognize the lack of such understanding. In learning, it is essential that one understands the need for understanding for effective learning. The second stage is that of conscious incompetence. This stage involves one individual who does not understand concept although such individuals know of the lack. This state of learning involves making mistakes, which is an integral part in effective learning as long as one is able to realize the mistake and make adjustments (C.E., 1988). Conscious competence involves the state of an individual having critical understanding of an issue. An important aspect at this stage is the need for concentration. Concentration is important in learning as it enhances better understanding of concepts. The last stage is unconscious competence, which involves the state of an individual having practiced a skill and therefore,