Operations Management Quiz

Companies compete in the marketplace through which combination of factors?

• Price, location, and technology

• Price, delivery time, and product or service differentiation

• Quality, advertising, and innovation

• Cost, flexibility, and supply chain management

Which marketing factor is considered a basic input in an organization's decision-making process?

• Advertising and promotion

• Price and quality trade-offs

• Identifying consumer wants and/or needs

• Market segmentation

What is productivity primarily defined as?

• The total output of a company

• The ratio of profit to investment

• An index measuring output relative to input used to produce it

• The efficiency of workers only

Which of the following is NOT mentioned as a key factor through which operations influences competitiveness?

• Product and service design

• Cost of organization's output

• Employee satisfaction surveys

• Quick response capabilities

Location can be strategically important for which of the following reasons?

• Lower input costs when near suppliers

• Lower transportation costs when near markets

• Convenience for customers in retail

• All of the above

What does SWOT analysis stand for?

• Systems, Workflows, Operations, Technology

• Strengths, Weaknesses, Opportunities, Threats

• Strategy, Work, Organization, Tactics

• Standards, Workforce, Objectives, Targets

Which of the following is a reason why some organizations fail?

• Neglecting operations strategy

• Failing to establish good internal communications

• Putting too much emphasis on short-term financial performance

• All of the above

An organization's mission statement should primarily answer which question?

• How much profit do we want to make?

• What business are we in?

• Who are our competitors?

• What products should we develop?

Environmental scanning involves monitoring:

• Only internal company factors

• Events and trends that present threats or opportunities

• Employee performance metrics

• Financial statements only

Which factor has an EXTERNAL focus in SWOT analysis?

• Strengths and weaknesses

• Opportunities and threats

• Strengths and opportunities

• Weaknesses and threats