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POM > Module 1 > Flashcards

Module 1 Flashcards

1
Q

This is a group of people working together to achieve common objectives.

A

Organization

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2
Q

What are the four conditions that must exist to have an organization?

A

Community
Common Purpose
Cooperation
Coordination

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3
Q

This condition refers to a group of people, two or more persons, who are interconnected, interrelated and interdependent; people who communicate and are concerned with one another.

A

Community

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4
Q

This condition refers to persons having common objectives; i.e., they all agree on at least one objective that is worth pursuing and
achieving together

A

Common purpose

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5
Q

This condition refers to each member of the group works to the best that he or she can to contribute towards the achievement of their shared objectives;

A

Cooperation

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6
Q

This condition refers to the group members working together. All their efforts are interrelated and coordinated, all aimed at the achievement of their common objectives; it implies both harmony and unity of direction.

A

Coordination

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7
Q

What is the primary purpose of organizations?

A

Organizations exist primarily to serve and satisfy needs – of others and their own. The basic purpose of organizations is to satisfy the needs, wants, and demands of individuals and other organizations.

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8
Q

From the point of view of an organization, the individuals and other organizations whose needs it intends to satisfy are its ___________.

A

Customers

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9
Q

But organizations cannot just come up with products from nothing. They need ________ or resources to produce outputs of goods and services.

A

Inputs

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10
Q

This is an essential thing that allows the value of the output to exceed the value of the inputs.

A

Value-added

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11
Q

What are the 7 main resources?

A

Manpower
Money
Materials
Machines
Methods
Moment
Information

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12
Q

This is the process of working with resources by performing the functions of planning, organizing, staffing, leading, and controlling to create a positive environment where people can harmoniously work together to effectively and efficiently achieve organizational objectives in an ever-changing environment.

A

Management

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13
Q

Management is a __________ – it consists of a series of actions, changes, and functions designed to bring about desired results.

A

process

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14
Q

Management involves working with _________ – the 6Ms: manpower, money, materials, machines, methods, moment (time), and information.

A

resources

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15
Q

The management process involves performing the managerial functions of?

A

Planning
Organizing
Staffing
Leading
Controlling

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16
Q

What is the two-fold purpose of management?

A

1.) promote harmonious working together
2.) The achievement of organizational objectives

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17
Q

It is not enough that the organization achieves objectives; managers must see to it that these objectives are achieved __________ and ____________.

A

effectively and efficiently

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18
Q

These are the people in the organization who are responsible for the management process.

A

Managers

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19
Q

This involves choosing or setting objectives and then determining the course of action needed to achieve them.

A

Planning

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20
Q

This involves determining the activities and resources required to implement the strategies, combining them into a formal structure, assigning responsibilities, and delegating authority.

A

Organizing

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21
Q

This involves filling, and keeping filled, with the right people the various positions in the organizational structure.

A

Staffing

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22
Q

This involves influencing people so that they will do their best, in harmony with the other members, to contribute to the achievement of the organization’s objectives.

A

Leading

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23
Q

This involves devising ways and means to ensure that the planned performance is actually achieved.

A

Controlling

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24
Q

This means doing the right thing.

A

Effectiveness

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25
Q

This is what the organization sees itself becoming into.

A

Vision

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26
Q

This is why the organization exists or the organization’s basic purpose for existence.

A

Mission

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27
Q

This means doing things right. It is achieving its objectives with minimum resources.

A

Efficiency

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28
Q

An organization may be considered as a _________ – a whole unit composed of interacting, interconnected, and interdependent elements or parts.

A

system

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29
Q

This refers to planning, organizing, staffing, leading, and controlling; while

A

Management functions

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30
Q

What are the 3 major functional areas of management?

A

Marketing
Finance
Production/Operations

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31
Q

This is the functional area responsible for making the decisions related to the 5 Ps – people (customers), product (goods/services), promotion, place (distribution) and pricing.

A

Marketing

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32
Q

What are the 5 Ps?

A

People
Product
Promotion
Place
Pricing

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33
Q

This is also referred to as the target market?

A

People

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34
Q

This P refers to your goods and services.

A

Product

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35
Q

This P refers to how to make your customers aware of your products’ existence?

A

Promotion

36
Q

This P refers to how your customers can avail your products.

A

Place

37
Q

This P refers to how much you charge your customers in exchange for your products.

A

Pricing

38
Q

This is the functional area responsible for making the financing, investment and dividend
decisions.

A

Finance

39
Q

These are those concerned with the acquisition of financial resources.

A

Financing decisions

40
Q

These are those concerned with the allocation of financial resources.

A

Investment decisions

41
Q

This is the functional area directly responsible for making the decisions related to the creation of goods or provision of services.

A

Production/Operations

42
Q

This is making sure that products meet the requirements of the customers.

A

Quality management

43
Q

This is planning how many units of products your customers may avail.

A

Demand forecasting

44
Q

This is planning the products attributes.

A

Product/Service Design

45
Q

This answers the question: what’s the most effective and efficient way to create our products or provide our services?

A

Process Selection and Design

46
Q

This answers the question: how large should our facility be; i.e., how many units of the product should it be able to produce or how many customers should it be able to accommodate at any given time?

A

Capacity Planning

47
Q

This answers the question: where do we locate our facility, near supplies or near customers?

A

Facility Location

48
Q

This answers the question: how do we arrange the various equipment, departments, and workstations in our facility.

A

Facility Layout

49
Q

This answers the question: how do we make a good fit between our workers, their work, and the work environment to maintain their motivation and productivity?

A

Design of Work Systems

50
Q

This answers the question: which of the inventory items should we prioritize and closely monitor? How much of each should we stock?

A

Inventory Management

51
Q

This answers the question: which worker, equipment, or workstation will perform which task, and when or in what sequence?

A

Scheduling

52
Q

This answers the question: how do we maintain our equipment and facilities in good working condition?

A

Maintenance

53
Q

This answers the question: how do we finish the project on time, at minimum cost, and according to the requirements of the client who commissioned it?

A

Project Management

54
Q

This management is responsible for the manpower resources of the organization?

A

Personnel or human resource management

55
Q

This area of management is responsible for providing the organization’s machine and material resources.

A

Purchasing

56
Q

This area of management is responsible for keeping the organizations equipment and facilities in proper working condition.

A

Maintenance

57
Q

This is responsible for the work methods that enable the organization to effectively and efficiently create the goods or provide the service.

A

Industrial Engineering

58
Q

This area of management is responsible for recording the business transactions of the organization as well as preparing its financial statements – balance sheet, income statement, and cash flow statement.

A

Accounting

59
Q

This area of management is responsible for gathering, processing, organizing, and disseminating information so as to provide various levels of management within the organization with accurate and timely information needed for supervising activities, tracking progress, making decisions, and isolating and solving problems.

A

Management information systems

60
Q

This area of management is responsible for transporting the organization’s goods to warehouses, wholesalers or retailers, or final customers.

A

Distribution

61
Q

This area of management is responsible for establishing and promoting favorable relationship with the public.

A

Public relations

62
Q

This is the ability of an organization to effectively meet or exceed customer expectations relative to other organizations that offer similar goods or services.

A

Competitiveness

63
Q

This refers to the customer perception of how well the product serves its purpose.

A

Quality

64
Q

What are the key dimensions of product quality? (7)

A

Aesthetics
Features
Performance
Conformance
Reliability
Durability
Serviceability

65
Q

What are the key dimensions of service quality?

A

Reliability
Assurance
Tangibles
Empathy
Responsiveness

66
Q

This refers to how a product looks, feels, sounds, tastes, or smells.

A

Aesthetics

67
Q

This refers to a product’s prominent or distinctive aspect or characteristic.

A

Features

68
Q

This is a product’s primary operating characteristics.

A

Performance

69
Q

This is the degree to which physical and performance characteristics of a product match pre-established standards.

A

Conformance

70
Q

This is the probability of a product’s operating over a specified period of time under stated conditions of use.

A

Reliability

71
Q

This is the amount of use one gets from a product before it physically deteriorates or until replacement is preferable.

A

Durability

72
Q

This is the speed, courtesy, and competence of repair work.

A

Serviceability

73
Q

This is the ability to provide what was promised, dependably and accurately.

A

Reliability

74
Q

This is the knowledge and courtesy of employees, and their ability to convey trust and confidence.

A

Assurance

75
Q

This is the physical facilities and equipment, and the appearance of personnel.

A

Tangibles

76
Q

This is the degree of caring and individual attention provided to customers.

A

Empathy

77
Q

This is the willingness to help customers and provide prompt service.

A

responsiveness

78
Q

This refers to the amount a customer must pay for a good or a service.

A

Price

79
Q

This refers to the ability of the organization to respond to changes in the volume or variety of products demanded by customers.

A

Flexibility

80
Q

This refers to faster or on-time product development, product introduction, and product delivery.

A

Speed

81
Q

This is any attribute or inability of the organization that might hinder it from accomplishing its Mission and from fulfilling its Vision.

A

Weakness

82
Q

This is any issue, event or trend that might help the organization in accomplishing its Mission and in fulfilling its Vision.

A

Opportunity

83
Q

This is any attribute or ability of the organization that might help it in accomplishing its Mission and in fulfilling its Vision.

A

Strength

84
Q

This refers to an organization’s ability to effectively use its resources, it is the ability of the organization to be both effective and efficient; i.e., its ability to maximize customer satisfaction at the minimum cost possible.

A

Productivity

85
Q

What is the formula for productivity?

A

Output/Input

POM (2 decks)

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