Topic 5.1 Quiz

Operations management only applies to the secondary (manufacturing) sector.

• TRUE

• FALSE

• NO IDEA

Value-added is the term used to describe the difference between the cost of factor inputs and the value or price of outputs from the production process.

• TRUE

• FALSE

• NO IDEA

Operations management is an integral part of an organisation’s strategic decision-making process.

• TRUE

• FALSE

• NO IDEA

Goods or services are produced based on an input-output model as part of a production process.

• TRUE

• FALSE

• NO IDEA

Productivity is a measure of an organisation’s efficiency in terms of how well operations are done within the organisation.

• TRUE

• FALSE

• NO IDEA

Operations management is the business function that deals with planning, organising, and controlling the different elements and stages of the production process.

• TRUE

• FALSE

• NO IDEA

Every organisation has an operations management function, including those in the tertiary and quaternary sectors.

• TRUE

• FALSE

• NO IDEA

Taking human factors into consideration when making strategic business decisions which may affect workers and the local community is known as social sustainability.

• TRUE

• FALSE

• NO IDEA

Economic sustainability means minimising waste in the production process, creating cost savings through greater efficiency and cutting unnecessary costs.

• TRUE

• FALSE

• NO IDEA

Operations management does not directly affect a firm's marketing.

• TRUE

• FALSE

• NO IDEA