TOPIC 2 - Competitiveness, Strategy and Productivity

SIX SEVEN

1

Operation Management is only for factories 

Six - True ; Seven - False

SEVEN - FALSE

2

Capacity matches demand 

Six - True ; Seven - False

SIX - TRUE

3

Services can be stored

Six - True ; Seven - False

SEVEN - FALSE

4

Inventory helps in efficiency

Six - True ; Seven - False

SIX - TRUE

OPMAN

1

What is the main goal of Operations Management?

a. To hire as many people as possible

b. To use resources (like materials and labor) efficiently

c. To design a new company logo

1. B - To use resources (like materials and labor) efficiently

2

True or False: Competitiveness means a company is better at satisfying customers than its rivals.

a. True

b. False

A - True

3

What does a 'Strong Strategy' help a company focus on in its daily operations?

a. Changing the company mission every week

b. Priorities like cost, quality, and responsiveness

c. Increasing waste to finish work faster

B. Priorities like cost, quality, and responsiveness

4

What is the very first step in Strategy Formulation?

a. Choose a strategy

b. Set objectives

c. Analyze the environment (market and competitors)

C. Analyze the environment (market and competitors)

GAMEBOY

1

It refers to the ability of a company to satisfy customers better than its competitors.

Competitiveness

2

These are specific targets set by an organization to achieve its mission and vision.

Goals

3

It is a plan of action that guides an organization in achieving its goals.

Strategy

4

It measures how efficiently inputs such as labor, materials, and machines are converted into outputs.

Productivity