Quiz 1 Solutions

Quiz 1 Solutions - a Finance/accounting b Advertising c...

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Page 1 of 2 Name________________________________________________ Quiz 1 BUSQOM 1070, Spring 2011 Circle the letter of the response that best answers the question. 1. Which is not true regarding differences between goods and services? a. Services are generally produced and consumed simultaneously; tangible goods are not. b. Services tend to be more knowledge-based than products. c. Services tend to have a more inconsistent product definition than goods. d. Goods tend to have higher customer interaction than services. e. None of the above is true. 2. A foundry produces circular utility access hatches (manhole covers). Currently, 120 covers are produced in a 10-hour shift. If labor productivity can be increased by 20%, it would then be a. 14.4 covers/hr b. 24 covers/hr c. 240 valves/hr d. 1200 covers/hr e. none of the above 3. The Ten Critical Decisions of Operations Management include
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Unformatted text preview: a. Finance/accounting b. Advertising c. Process and capacity design d. Pricing e. all of the above Page 2 of 2 4. Which of the following statements about organizational missions is false ? a. They reflect a company's purpose. b. They indicate what a company intends to contribute to society. c. They are formulated after strategies are known. d. They define a company's reason for existence. e. They provide guidance for functional area missions. 5. Which of the following is true about business strategies? a. An organization should stick with its strategy for the life of the business. b. All firms within an industry will adopt the same strategy. c. Well defined missions make strategy development much easier. d. Strategies are formulated independently of SWOT analysis. e. Organizational strategies depend on operations strategies....
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Quiz 1 Solutions - a Finance/accounting b Advertising c...

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