Operations Exam #1 Flashcards

1
Q

A set of activities that creates value in the form of goods and services by transforming inputs into outputs.

A

Operations Management

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

credited for early popularization of interchangeable parts, achieved through standardization and quality control

A

Eli Whitney (1800)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

father of scientific management, contributed to personnel selection, planning and scheduling, motion study, and ergonomics.

A

Frederick W. Taylor (1881)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

combined what they knew about standardized parts with quasi- assembly lines of meatpacking and mail-order industries and added the revolutionary concept of assembly lines where workers stood still and materials moved.

A

Henry Ford/Charles Sorensen

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

The ratio of outputs (goods/services) divided by one or more inputs (such as labor, capital, or management).

A

productivity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The ratio of goods and services produced (outputs) to one resource (input). Example: Units produced / labor hours used.

A

single-factor productivity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

The ratio of goods and services produced (outputs) to many or all resources (inputs). Example: Output / (labor + material + energy + capital).

A

multifactor productivity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

A metric that helps measure how efficiently inputs (like labor, time, or materials) are converted into outputs.

A

percentage change in productivity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

The purpose or rationale for an organization’s existence; what the organization contributes to society.

A

Mission

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

An action plan detailing how an organization expects to achieve its mission and goals.

A

Strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Strategy that involves creating a new market space that is uncontested, making competition irrelevant through innovation.

A

Blue Ocean Strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Strategy that involves competing within an existing market space, outperforming rivals to capture a greater market share.

A

Red Ocean Strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

A unique advantage over competitors.

A

Competitve Advantage

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What competitive advantage strategy involves making products unique to add value.

A

Differentiation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What competitive advantage strategy achieving maximum value without implying low quality.

A

Low Cost

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What competitive advantage strategy involves focusing on rapid, flexible, and reliable performance.

17
Q

Measurable values demonstrating how effectively an organization is achieving business objectives.

A

Key Performance Indicators (KPIs)

18
Q

Goals that are Specific, Measurable, Achievable, Relevant, and Time-bound.

A

SMART goals

19
Q

Metrics that evaluate efficiency and effectiveness of processes, e.g., time taken to complete a task.

A

Process Metrics

20
Q

Metrics that assess the results of processes, e.g., sales growth or customer satisfaction.

A

Outcome Metrics

21
Q
  1. Empathize – Understand user needs.
  2. Define – Clearly articulate the problem.
  3. Ideate – Generate potential solutions.
  4. Prototype – Build tangible representations.
  5. Test – Gather user feedback and refine solutions.
A

Five stages of Design Thinking

22
Q

A collaborative approach involving stakeholders in the design process.

23
Q
  1. Encourage wild ideas.
  2. Defer judgment.
  3. Build on the ideas of others.
A

key ideation guidelines

24
Q
  1. Introduction – Awareness and promotion.
  2. Growth – Rapid sales increase.
  3. Maturity – Market saturation and competition.
  4. Decline – Decreasing sales and market saturation.
A

Four stages of a product lifecycle

25
Q

Diagram that is used to visualize and schedule tasks in a project.

A

AON diagram

26
Q

A project management technique using a single time estimate per activity.

A

Critical Path Method (CPM)

27
Q

A project management technique that uses three-time estimates for each activity (optimistic, pessimistic, and most likely).

A

PERT methodology

28
Q
  1. List all activities and estimate durations.
  2. Create a network diagram (CPM or PERT).
  3. Calculate expected project duration and variance.
  4. Use statistical methods to compute probability.
A

determinining the probability of completing a project on time

29
Q

A linear, step-by-step approach used for projects with known constraints (e.g., construction, aerospace).

A

Waterfall project management

30
Q

A flexible, iterative approach requiring constant collaboration, commonly used in software development.

A

Agile project management