Module 1 Flashcards
the management of systems or processes that create goods and/or
provide services
Operations Management
Operations Management affects:
Company’s ability to compete
Nation’s ability to compete internationally
tangible output; physical items produced by business
organizations
Production of goods
an act; activities that provide some combination of time, location form, and psychological value
Delivery of services
the management of _____ or processes that create goods and/or provide services
systems
an act; activities that provide some _______ of time, location form, and psychological value
combination
____________; physical items produced by business
organizations
Tangible output
______ is responsible for securing monetary resources at favorable prices and allocating
those resources throughout the organization, as well as budgeting, analyzing investment proposals, and providing funds for operations.
Finance
Finance is _________ for securing monetary resources at favorable prices and allocating
those resources throughout the organization, as well as budgeting, analyzing investment proposals, and providing funds for operations.
responsible
Finance is responsible for securing __________ _________ at favorable prices and allocating
those resources throughout the organization, as well as budgeting, analyzing investment proposals, and providing funds for operations.
Monetary resources
_______ is responsible for assessing consumer wants and needs and selling and
promoting organizations goods and services
Marketing
Marketing is responsible for assessing consumer wants and needs and selling and
__________ organizations goods and services
promoting
Operations is responsible for _______ _______ or
providing the services offered by the organization.
producing goods
_______ is responsible for producing the goods or providing the services offered by the organization.
Operations
Product packages make the difference between the cost of inputs and the value or price of outputs. T or F?
FALSE
VALUE-ADDED elements make the difference between the cost of inputs and the value or
price of outputs.
