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CBM-112_SIM-A-B-2022-1.pdf Flashcards
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CBM-112_SIM-A-B-2022-1.pdf Flashcards
CBM-112_SIM-A-B-2022-1.pdf Flashcards
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1
Question
What is Production?
Answer
Production is the creation of goods and services.
2
Question
What is Productivity?
Answer
The concept of productivity refers to the amount of outputs (goods and services) divided by inputs like labor and capital resources.
3
Question
What is Single-factor productivity?
Answer
Single-factor productivity indicates the ratio of one resource input to the output generated (products and services).
4
Question
What is Multifactor productivity?
Answer
Multifactor productivity indicates the ratio of many or all resources inputs to the products and services outputs produced.
5
Question
What is Hard Rock Café?
Answer
Hard Rock Café is a multinational company that is a world-class restaurant, later diversifying into gaming, hotels, and casinos.
6
Question
When was Hard Rock Café built?
Answer
Hard Rock Café was built in the year 1971.
7
Question
What is unique about Hard Rock Café's dining experience?
Answer
It provides a unique themed food service that gives customers a rock and roll ambiance.
8
Question
How many meals does Hard Rock Café prepare daily?
Answer
Hard Rock Café prepares and customizes over 3500 meals every day.
9
Question
What is the significance of Eric Clapton's visit to Hard Rock Café?
Answer
Eric Clapton gave his guitar as memorabilia to show satisfaction with the restaurant's dining experience.
10
Question
What is Operations Management?
Answer
Operations management is a sequence of activities that generate value by transforming inputs into outputs in the form of products and services.
11
Question
What are the three major functions vital in the creation of goods and services?
Answer
The three major functions are Marketing, Production/Operation, and Finance/Accounting.
12
Question
What does the Marketing function do?
Answer
The Marketing function primarily concerns the identification, advertising, and penetration of existing or target markets.
13
Question
What is the focus of the Production/Operation function?
Answer
The Production/Operation function mainly concerns the creation of the product.
14
Question
What does the Finance/Accounting function track?
Answer
The Finance/Accounting function tracks the inflow and outflow of the company's finances, including payment of bills and collection of money.
15
Question
Why study Operations Management?
Answer
Studying Operations Management is essential because it belongs to the three major functions of a business, helps understand the creation of goods and services, prepares managers for challenges requiring decision making, and holds a significant portion of the budget.
16
Question
What are the 5 distinct processes of management known as POSDICON?
Answer
The processes are Planning, Organizing, Staffing, Directing, and Controlling.
17
Question
What does the Planning function involve?
Answer
The Planning function involves setting objectives, long-term and short-term plans, company policy, and operations and procedures to attain the company's goals.
18
Question
What does the Organizing function refer to?
Answer
The Organizing function refers to grouping different organizational resources, particularly the 6M's: men, money, machineries, market, method, and moment.
19
Question
What is the focus of the Staffing function?
Answer
Staffing is a human resources function that targets putting the right person in the right job.
20
Question
What does the Directing function concern?
Answer
The Directing function concerns leadership, motivation, and communication.
21
Question
What is the function of the Controlling process?
Answer
The Controlling process is about assessing and evaluating the other four distinct processes to ensure conformity to the plans set.
22
Question
What are the 10 decision areas an operations manager must address?
Answer
1. Design of goods/services 2. Managing quality 3. Process capacity design 4. Location strategy 5. Layout strategy 6. Human resources job design 7. Supply chain management 8. Inventory/material requirements planning 9. Intermediate short-term scheduling 10. Maintenance.
23
Question
What are some characteristics of goods?
Answer
Goods are tangible, can be kept in inventory, and can have residual value.
24
Question
What are some characteristics of services?
Answer
Services are intangible, produced and consumed simultaneously, and often involve high customer interaction.
25
Question
What challenges in productivity may arise in creating goods and providing services?
Answer
Challenges include how to reduce input while keeping output the same, and how to maximize output without changing input.
26
Question
Why is understanding productivity vital?
Answer
It is vital in improving our quality of life.
27
Question
How is productivity defined?
Answer
The amount of outputs (goods and services) divided by inputs (like labor and capital resources).
28
Question
What does single-factor productivity indicate?
Answer
The ratio of one resource input to the output generated (products and services).
29
Question
What is the formula for single-factor productivity?
Answer
Productivity = Units Produced / Input Used.
30
Question
What does multifactor productivity indicate?
Answer
The ratio of many or all resource inputs to the products and services outputs produced.