KK1: Relationship between operations management and business objectives

Question 1

Operations management 

Answer 1

involves coordinating and
organising the activities
involved in producing
the goods or services
that a business sells to
customers

Question 2

Efficiency 

Answer 2

is how productively a business
uses its resources when
producing a good
or service.

Question 3

Effectiveness

Answer 3

 is the extent to which a business
achieves its stated
objectives.

Question 4

Productivity 

Answer 4

is the number of goods or
services that are produced
compared to the number
of resources used in the
production process.