Op Mgt Exam1

Question 1

production

Accepted Answer

creations of goods and services

Question 2

Opp Mgt

Accepted Answer

activities that relate to the creation of goods and services through the transformation of inputs and outputs

Question 3

supply chain

Accepted Answer

global network of organizations and actitivies that supplies a firm with goods and services

Question 4

services

Accepted Answer

economic stragties that typically produce intangible product

Question 5

service sector

Accepted Answer

segment of the economy that includes trades, financial, lodging, edu, legal, medical, and other professional occupations

Question 6

productivity

Accepted Answer

ratio of output divided by one or more inputs

Question 7

single factornproductivity

Accepted Answer

indicates the ratio of goods and services produced to one resource

Question 8

mulifactor productivity

Accepted Answer

indiciates the ratio of goods and services produced to many or all resources

Question 9

productivity variables

Accepted Answer

three factors critical to productivity improvment- labor capital, and the art and science of mgt

Question 10

knowledge society

Accepted Answer

society in which much of the labor force has migrated frommanual work to work based on knowledge

Question 11

supply chain mgt

Accepted Answer

coordination of all supply chain activities involved in echancing studomer value

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