chapter 1 POM Flashcards
Use of system like point of scale, radio frequency identification tags, bar code scanners, and automatic recognition has made it more difficult to understand what all the information is saying
False
One of the package features that make up a service is called
Facilitating goods
an order qualifier is a screening criterion that permits a firm products to even be considered as possible candidates for purchase
T/ F
True
In a partial measure of productivity the denominator of the ratio would include all resources used or all inputs
T/F
False
Activity system maps depict the geographic reach of a company business strategies
T/F
False
One of the competitive dimensions that form the competitive position of a company when planning their strategies is cost
T/F
True
Larry’s Auto Body Repair Shop had revenues that averaged $60,000 per week in April and $50,000 per week in May. During both months, the shop employed six full-time (40 hours/week) workers. In April the firm also had four part-time workers working 25 hours per week but in May there were only two part-time workers and they only worked 10 hours per week. What is the percentage change in labor productivity from April to May for Larry’s Auto Body Repair?
8.95%
Labor productivity is output (revenue) divided by hours of labor input. For April, revenue was $60,000 and labor hours were 4 x [(40 x 6) + (25 x 4)]. This is 60,000/1,360 or 44.12 dollars per hour of labor. For May, revenue was $50,000 and labor hours were 4x[(40 x 6)+(10 x 2)] This is 50,000/1,040 or 48.07 dollars per hour of labor a difference of $3.95 per hour. The percentage change in productivity between April and May, then, is 3.95/44.12 = 0.0895 x 100 = 8.95%. (Note: this analysis assumes four weeks in each month and equal productivity for each hour worked.)
an order winner is a set of screening criteria that permits a firms products to be considered as possible candidates for purchase
False
an order qualifier is a screening criterion that permits a firms products to even be considered as possible candidates for purchase
The process when a company seeks to match the benefits of a successful position while maintain its existing position by adding new features, services, and technologies into its current portfolio is called flexibility
T/F
false
straddling occurs when a company seeks to match the benefits of a successful position while maintaining its existing position
“operations” refers to manufacturing and service processes used to transform resources employed by a firms into products desired by customers
true
“product-service bundling” refers to a company building service activities into its product offerings for its customers
T/F
True
Automobile and appliances are classifies as “pure goods”
False
they are “core goods”
The triple bottom line considers evaluating the firm against social, economic, and environmental criteria
True
All other things remaining the same, if the revenue or sales decreases, asset turnover ratio will
Multiple choise
D. increase
Asset turnover= Revenue (or sales)/ total assets
sales or revenue is in the numerator and hence the value will go down as the numerator decreases. Logically, if sales decreases, while total assets remain the same, then asset turn over will go down
effectiveness means doing the right things to create the most value for the customer
true
