Slides
What is Operations Management concerned with?
A) Designing financial strategies
B) Overseeing marketing campaigns
C) Managing production and delivery of products and services
D) Conducting external business negotiations
C) Managing production and delivery of products and services
What is the primary purpose of a quality management system (QMS)?
A) To increase employee satisfaction
B) To reduce operational costs
C) To ensure consistent product or service quality
D) To maximize shareholder profits
C) To ensure consistent product or service quality
The Value Chain was created by a man named Michael Porter. He is a professor at what university?
Harvard Business School
What is the primary goal of digital transformation?
A) To maintain traditional business practices
B) To avoid technological advancements
C) To enhance business operations and customer experiences through digital technologies
D) To increase paperwork and manual processes
C) To enhance business operations and customer experiences through digital technologies
Which of the following is not one of then four aspects of Big Data?
a) data storage
b) cloud computing
c) analytics and AI
d) Data processing
e) Business
b) cloud computing
Which of the following is a key element of Digital Strategy?
A) Decreasing the use of digital tools
B) Focusing on traditional marketing only
C) Integrating digital technologies into all areas of business
D) Avoiding online customer interactions
C) Integrating digital technologies into all areas of business
Which of the following is NOT a key element of a quality management system?
A) Quality policy
B) Continuous improvement
C) Cost reduction initiatives
D) Customer focus
C) Cost reduction initiatives
What is the primary focus of value chain analysis?
A) Analyzing customer satisfaction
B) Evaluating a firm's competitive advantage
C) Assessing financial performance
D) Identifying market trends
B) Evaluating a firm's competitive advantage
What does digital transformation involve?
A) Staying stagnant and resisting change
B) Embracing new technologies to streamline processes and improve efficiency
C) Ignoring customer feedback and preferences
D) Relying solely on outdated methods and systems
B) Embracing new technologies to streamline processes and improve efficiency
Digital Business Strategy can be separated into two components. Identify the two.
Optimization and Transformation
Which of the following is NOT one of Porter's supporting activities?
a) Firm Infrastructure
b) Services
c) Human Resource Management
d) Technology Development
b) Services
What is the role of top management in implementing a quality management system?
A) Providing resources and leadership
B) Delegating responsibility to lower-level employees
C) Ignoring customer feedback
D) Ensuring employee training
A) Providing resources and leadership
Which of the following activities is NOT typically included in a value chain analysis?
A) Research and development
B) Sales and marketing
C) Financial accounting
D) Customer service
C) Financial accounting
How does digital transformation impact customer interactions?
A) It has no effect on customer experiences
B) It enhances communication and engagement through digital channels
C) It decreases customer satisfaction levels
D) It limits accessibility and responsiveness to customer needs
B) It enhances communication and engagement through digital channels
What are the 5 primary activities of Porter's Value Chain?
Inbound logistics, Operations, Outbound logistics, Marketing and Sales, Service
What was Lean management derived from?
Toyota Production System
How does a quality management system contribute to organizational success?
A) By increasing employee turnover
B) By reducing customer satisfaction
C) By improving operational efficiency and effectiveness
D) By ignoring market trends
C) By improving operational efficiency and effectiveness
How does value chain analysis contribute to a company's competitive strategy?
A) By identifying potential partnership opportunities
B) By optimizing internal processes and activities
C) By increasing employee morale
D) By increasing regulatory compliance
B) By optimizing internal processes and activities
What role does data play in digital transformation?
A) Data is irrelevant in the digital transformation process
B) Data helps organizations make informed decisions and personalize experiences
C) Data complicates business operations and should be avoided
D) Data is only useful for traditional, non-digital businesses
B) Data helps organizations make informed decisions and personalize experiences
What are the 5 components of SERVQUAL?
(hint: RATER)
Identify the two upstream and three downstream activities involved in the quality management system?
upstream: supplier and manufacturer
downstream: consumer, retailer, distributor
What is the purpose of conducting regular internal audits within a quality management system?
A) To increase production downtime
B) To identify opportunities for cost reduction
C) To ensure compliance with quality standards and procedures
D) To minimize customer engagement
C) To ensure compliance with quality standards and procedures
Porter's Value Chain Analysis can be split into two main categories. Identify and define each category.
Primary activities: go directly into the creation of the product includes;
How does digital transformation affect organizational culture?
A) It has no impact on culture
B) It fosters a culture of innovation, agility, and collaboration
C) It promotes resistance to change and siloed behavior
D) It encourages rigid hierarchical structures and limited communication
B) It fosters a culture of innovation, agility, and collaboration
Define Six Sigma
Six Sigma is a statistical- and data-driven process that works by reviewing mistakes or defects. It emphasizes cycle-time improvements while reducing manufacturing defects to no more than 3.4 occurrences per million units or events (6 SD from the mean).
Originally developed as a management method to work
faster with fewer mistakes, it is now an industry standard with certifications offered to practitioners.