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Study Resources (Business Management)

  322.What are the ISO 9000 and ISO 14000 standards? Why are they important?        Multiple Choice Questions  Mini-Case"These are exciting times for our company. We've made a lot of changes over the past two years that have really improved our operations and lowered our costs. Now we are ready to expand into new.
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    91.When considering the issue of facility location, it is important to find an isolated location so that work can get done without interruption from customers.          92.Operations management planning is concerned with finding the ideal location for a business and also with materials requirement planning. It leaves decisions about purchasing and inventory.
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    161.Mypartz, Inc. is a major supplier of components used by Idle Time Gaming Systems. Idle Time Gaming wants to implement a just-in-time inventory system. Mypartz should benefit from this approach, since JIT systems greatly simplify the task of suppliers.    In just-in-time systems, suppliers deliver only the amount needed to meet production.
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    121.The purchasing function of operations management seldom uses the Internet to make purchasing decisions.          122.The primary characteristic of a just-in-time inventory system is that suppliers deliver parts and materials right at the time that the buyer is going to use them in the production process.          123.The concept: "Just-In-Time" (JIT) works well if.
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    11.Companies like Procter & Gamble and PepsiCo have issued their own mandatory sustainability scorecards. If suppliers do not fall in line with these companies' requests, they risk being "fired" from some of their biggest clients.          12.Companies such as IBM prefer to stay the course and continue to compete by selling products.
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    111.Materials requirement planning (MRP) enables a firm to make sure that the right amount of each material or component is available at the right time to satisfy its production needs.          112.Materials requirement planning relies on the firm's balance sheet to make sure that the right quantities of finished goods are produced.          113.One.
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    341.Excite Enterprises, a corporation of amusement parks uses an accounting firm to handle the payroll and tax functions for the company. Using the services of another firm in this manner is an example of:    A.outsourcing.   B.functional reassignment.   C.core competencies.   D.benchmarking. Outsourcing is assigning various functions, such as accounting and legal work, to outside organizations that.
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  87. Which of the following is uncharacteristic of a socialist economy? a. All capital and capital goods are privately owned. b. The government owns and controls key industries. c. Land and raw materials may be the property of the state. d. What to produce and how to produce it are based on national.
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    171.PERT is a popular technique for analyzing the tasks involved to complete a given project, estimating the time required to complete each task, and identifying the minimum time needed to complete the project.          172.An advantage of PERT diagrams is that they are usually so simple to draw that a computer is.
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  77. Households provide all of the following resources to businesses except a. labor. b. land. c. dividends. d. buildings. e. capital. 78. When consumers spend their money to purchase Apple iPhones or computers with an Intel processor, or when they discontinue buying such items as compact discs, they are telling resource owners a. how.
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    321.Which term describes a company being so open to other companies working with it that electronic information is shared as if the companies were one?    A.Web-based corporations   B.Webworking   C.Transparency   D.E-connected         322.Which of the following describes a temporary networked organization made up of replaceable firms that join and leave as needed?    A.Web-based corporation   B.Benchmark outsourcing system   C.Network system   D.Virtual corporation         323.The.
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    51.A bureaucratic style of organization is slow when responding to change.          52.Empowerment works only when employees are given the proper training and resources to respond.          53.The basic idea behind the organization design of Fayol and Weber was that management wanted to control workers.          54.An organization chart shows who is accountable for the completion.
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    331.Empowering employees to better serve customers requires __________ front-line employees.    A.fewer   B.less training for   C.more support for   D.uniforms for         332._________ is the term used to describe those functions that a firm can do as well or better than others. It agrees to perform these functions in-house, rather than outsourcing.    A.Benchmarks   B.Standard responsibilities   C.Operational requirements   D.Core competencies         333.In today's competitive environment,.
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    81.Although lean manufacturing attempts to reduce the amount of labor used in the manufacturing process, it typically does so by increasing the amount of most of the other resources used in the production process.    Lean manufacturing is the production of goods using less of everything compared to mass production: less human.
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    131.A key element of the statistical quality control (SQC) process is the reliance on quality control experts to inspect at the end of the production line to make sure that no defective products are shipped to final customers.          132.Statistical quality control (SQC) is the process some managers use to continually monitor.
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    351.The __________ is the system of relationships that develop spontaneously as employees meet and form power centers.    A.informal organization   B.bureaucratic structure   C.secondary organization   D.formal organization         352.In open organizations the informal organization can be:    A.a hindrance to effective management.   B.an asset that promotes harmony among workers.   C.a roadblock to the corporate culture.   D.part of the formal organization.         353.The ___________ is the.
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    21.Firms that specialize in accounting, finance, and management consulting are all part of the service sector.          22.Operations management involves inventory management, quality control, and production scheduling.          23.Manufacturing firms focus exclusively on the production of goods and allow other firms to provide services.          24.In recent years, operations management has become more focused on providing.
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  319.How are MRP and ERP similar? How do they differ?        320.How has the emphasis of quality control changed in recent years? Describe some of the modern quality control techniques that illustrate this change in emphasis.          321.PERT is a popular control method used by organizations. Explain the purpose of PERT analysis, and describe.
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    31.Weber was critical of bureaucrats because he felt they undermined the efficiency of the organization.          32.Weber had a great deal of faith in managers. He was confident that a firm would do well if employees simply did as they were told.          33.Weber promoted the idea of the pyramid-shaped organization structure for large.
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    281.Within its production department, Sooner Manufacturing has shift leaders, supervisors, assistant plant managers, plant managers, product group managers, assistant division managers, division managers, an assistant vice president for production, and a vice president in charge of production. Given its multiple layer management structure, Sooner Manufacturing is an example of a(n).
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    301.In a _____________ organization, specialists from different parts of the organization are brought together on a temporary basis to work on specific projects.    A.matrix   B.line   C.line-and-staff   D.centralized         302.Line-and-staff organizations work well in organizations with:    A.operations in high-growth industries.   B.stiff competition.   C.short product life cycles.   D.a relatively unchanging environment.         303.Matrix organizational structures were first developed in:    A.Japan.   B.the aerospace industry.   C.the dot com Internet.
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    21.Fayol's principle of the division of labor says that functions should be divided into areas of specialization such as production, marketing, and finance.          22.One of Fayol's principles suggests that managers should have the right to give orders and expect others to follow.          23.Fayol's principle of esprit de corps says that employees should.
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    11.Correctly structuring a business organization allows managers to avoid delegating responsibility and authority to employees.          12.Division of labor is difficult to achieve in small businesses.    Division of labor is a basic organizational principle in all organizations. All businesses (both large and small) should contemplate the division of labor in their organizations.       13.Departments are.
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    361.One of Javier's coworkers was recently promoted to a middle management position at their company. He seems to have quickly distanced himself from Javier and their other coworker, Carlos. In fact, yesterday Carlos described the situation by saying, "He's gone to the dark side." Javier understands what Carlos means because.
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    281.Which of the following is an important part of operations management?    A.Determining the best means of financing the firm's operations   B.Developing the best advertising strategy to promote a firm's products   C.Deciding whether to pay a dividend to the firm's stockholders   D.Choosing the best location for a firm's facilities Operations management includes such responsibilities as facilities.
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    301.Superior Supplies' largest customer recently implemented a just-in-time inventory system. As a supplier of materials to this customer, Superior Supplies' will:    A.realize significant freedom in scheduling deliveries.   B.likely increase its effort and likely experience higher transportation costs.   C.place less emphasis on quality and greater emphasis on quantity.   D.need to deliver large quantities at regularly.
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    41.An organizational hierarchy establishes one person at the top of an organization.          42.A chain of command is a line of authority that moves from the lowest level of the hierarchy to the top.          43.A hierarchy requires many top managers, but only a few middle managers.          44.According to Weber, a bureaucrat is a middle.
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    311.The main difference between a matrix-style organization model and a cross-functional team is:    A.the matrix model has a limit on the number of functional units who send an expert to join the team, whereas the cross-functional team does not.   B.the matrix model is a temporary arrangement, whereas the cross-functional team is a.
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    291.In a just-in-time inventory system, suppliers:    A.deliver materials and parts in large quantities only a few times a year.   B.enjoy much lower delivery costs.   C.have a great deal of flexibility in determining when to make deliveries.   D.become more like a department in the producing firm rather than a separate business. In a just-in-time system the.
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  67. Diane is passionate about soccer and decides to open her own soccer sporting goods store. She invests her money, time, and effort into making the store a success. Diane can be best described as a(n) a. capitalist. b. laborer. c. corporate owner. d. entrepreneur. e. competitor. 68. Which of the following scenarios would.
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  47. In the mid-1970s, American auto manufacturers produced big gas-guzzling cars and tried to sell them to consumers who needed fuel-efficient transportation. This happened because manufacturers a. lost sight of consumers' needs. b. attempted to satisfy consumers' needs. c. followed consumers' wants too closely. d. knew the economy would rise again. e. did.
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    291.JayLo Corporation has experienced rapid growth during its five years of existence. While still relatively small, JayLo is now big enough that Jennifer, the firm's CEO, has decided to organize the firm into functional departments. Jennifer can likely expect which of the following to occur?    A.Quick company response to a change.
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    31.One important issue with respect to managing the operation of a business is to make certain that customers leave feeling as though they had a good experience with your service and with your company in general.    Operations management transforms resources of all kinds into finished products and services. Due to the.
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    101.For many firms, operations management has become an interfirm process.          102.Facility layout is the function of operations management that considers the physical arrangement of resources (including people) in the production process.          103.For service intensive businesses, facility layout is usually designed to centralize the decision-making process.          104.Telecommuting has diminished in popularity as a strategy.
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  57. The study of an individual's economic decisions would be an example of a. macroeconomics. b. microeconomics. c. fiscal policy. d. monetary policy. e. national economic policy. 58. When economists study the national economy or global economy, they are using a(n)     approach. a. macroeconomics b. microeconomics c. fiscal d. monetary e. intuitive 59. According to economists, natural.
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    51.Mass production techniques allowed firms to respond quickly to the individual needs of consumers.          52.One of the reasons mass production techniques lost favor is that, despite their ability to keep costs relatively low, mass production lacks flexibility.          53.The ability to integrate computers into the design and manufacture of products has had the.
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    141.ISO 9000 refers to a set of international standards for quality management and assurance.          142.ISO 14000 is a new set of product quality standards that has replaced the old ISO 9000 standards.          143.The European Union demands that all firms that want to do business with its member nations must satisfy ISO 9000.
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    61.A disadvantage of flexible manufacturing systems is that they usually require a great deal of labor because machines are rarely capable of handling a wide variety of tasks.          62.One way to compete with cheap labor is to use robots.          63.Lean manufacturing is a strategy of producing standardized products that have no frills.
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    71.The degree to which an organization allows lower level managers to make decisions determines the degree of decentralization.          72.An advantage of decentralized authority is that those individuals closest to the customers and more familiar with local conditions make decisions.          73.Centralized authority provides for the delegation of authority to employees who are then.
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  97. All of the following except     are effects felt by individuals in regard to the health of a nation’s economy. a. the amount of interest paid for a home b. acquiring a job c. obtaining financing for your education d. increases in productivity e. the interest paid on credit card purchases 98. Which of.
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    True / False Questions  1.Currently, manufacturing accounts for only around 70% of U.S. GDP.          2.The recent recession greatly affected the state of manufacturing in the U.S., resulting in a slow down in production and the loss of jobs.          3.The Green Movement has had a large affect on the service industry, but only a.
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    71.Speeding up the process of responding to consumer wants and needs is a key to global competitiveness.          72.Companies that employ lean manufacturing and flexible manufacturing produce better quality products, but have costlier production lines.    The purpose in lean manufacturing and flexible manufacturing is to produce products and services more efficiently and for.
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    151.A major advantage of a just-in-time inventory system is that it reduces costs and the effort for both the producer and its suppliers.    A just-in-time inventory system requires more effort from suppliers to coordinate with producers and deliver goods on a frequent basis. This extra effort may increase the cost to.
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  365.Describe two major issues that are important in organizational design.        366.Explain the difference between a firm's formal organization and its informal organization. Why are both types of organization important to managers?            .
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    61.Bryce is a manager at a car seat manufacturing company. He believes that it is very important and less confusing if each worker has only one boss. Bryce's view is consistent with Fayol's unity of command principle.    The unity of command principle says that each worker should report to one, and.
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    311.Becca works as a new product development engineer for a company that makes solar panels for residential and commercial purposes. Her company uses PERT network software for all development projects. As she nears the final month of her timeline for completing a new panel, Becca will focus on those activities.
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  Multiple Choice Questions   Mini-CaseAngelica Canizales is the CEO of Mucho Dinero Enterprises. Sales have declined for four consecutive years and the firm's accountants have reported net losses in each of the last two years. Employees appear demoralized and frustrated. Recently, Angelica met with managers from marketing, production, and finance to.
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    41.The three basic requirements of production are: (1) creating a finished good (2) making sure you created it at the lowest cost possible, and (3) selling it.          42.The value added by the creation of finished goods and services from inputs is called ownership utility.          43.Process manufacturing refers to combining components and raw.
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