Business Operations Quiz

What is the benefit of cost management in business operations?

• Increasing product prices

• Optimizing resource use and reducing waste

• Expanding the product line

• Increasing the workforce

What does logistics and distribution involve?

• Recruiting and hiring employees

• Planning, implementing, and controlling the efficient movement and storage of goods from the point of origin to the point of consumption

• Financial planning and accounting

• Developing advertising strategies

Which of the following activities is part of customer service?

• Managing returns and exchanges

• Budgeting and financial reporting

• Conducting market research

• Manufacturing products

Which activity is associated with production in business operations?

• Supplier selection

• Market research

• Manufacturing and assembly

• Customer support

What does scalability in business operations refer to?

• The ability to reduce production in response to decreased demand

• The ability to scale up production and distribution in response to increased demand without compromising quality or efficiency

• Increasing the number of suppliers

• Expanding the marketing team

Which of the following is NOT a key component of business operations?

• Procurement

• Production

• Legal Affairs

• Logistics and Distribution

Which activities are part of finance and accounting in business operations?

• Managing customer inquiries and support

• Developing new products

• Budgeting, financial planning, accounting, and managing investments

• Warehousing and transportation

What is the focus of research and development (R&D) in business operations?

• Selling products to customers

• Sourcing raw materials

• Innovating and improving products or services

• Managing employee relations

Why is efficiency and productivity important in business operations?

• To increase marketing budget

• To maximize output while minimizing input

• To reduce employee workload

• To increase the number of suppliers

How does proper operations management help in risk management?

• By identifying and mitigating risks related to supply chain disruptions, production issues, and market changes

• By increasing production costs

• By hiring more employees

• By reducing the marketing budget