Question 1

Companies go global to&#10;A)take advantage of favorable costs&#10;B)gain access to international markets&#10;C)build reliable sources of supply&#10;D)all of the above

Accepted Answer

Companies go global to take advantage of favorable costs such as lower labor costs or cheaper raw materials, gain access to international markets where there is potential for growth and increased revenue, and build reliable sources of supply by diversifying their supplier base across different geographic regions. All of these reasons contribute to a company's decision to expand globally.

Question 2

________ converts strategy into measurable objectives down through the organization.&#10;A)Strategic positioning&#10;B)Policy deployment&#10;C)Production planning&#10;D)Vertical integration

Accepted Answer

Policy deployment, also known as hoshin kanri or policy management, is a process that ensures that strategies are translated into measurable objectives and deployed throughout an organization. It involves setting goals, identifying actions necessary to achieve those goals, and assigning responsibility for implementing those actions. The objective of policy deployment is to align all levels of an organization towards achieving the same strategic goals.

Question 3

Which of the following countries has the highest hourly wage rate?&#10;A)Norway&#10;B)U.S.&#10;C)Germany&#10;D)South Korea

Accepted Answer

According to the data from the Organisation for Economic Co-operation and Development (OECD), Norway has the highest hourly wage rate among the mentioned countries. As of 2021, the average hourly wage rate in Norway was around $50, which is significantly higher than the hourly wage rate in the other countries on this list.

Question 4

The operations function interacts with&#10;A)Marketing&#10;B)Suppliers&#10;C)Human resources&#10;D)Finance&#10;E)All of the above

Accepted Answer

The answer of The operations function interacts with&#10;A)Marketing&#10;B)Suppliers&#10;C)Human resources&#10;D)Finance&#10;E)All of...

Question 5

The balanced scorecard keeps strategy on track by measuring&#10;A)Finance,marketing,operations,and human resources&#10;B)Finance,customers,processes,and learning and growing&#10;C)Shareholder value,customer satisfaction,production efficiency,and worker satisfaction&#10;D)Inputs and outputs to each critical process

Accepted Answer

The balanced scorecard measures financial performance, customer satisfaction, internal business processes, and learning and growth. These categories help keep the overall strategy on track by providing a comprehensive overview of both financial and non-financial elements of the company's performance. Option A is missing the category of customers and learning and growth. Option C is similar to B but replaces "learning and growth" with "worker satisfaction," which is a narrower focus. Option D is a potential use of the scorecard but does not accurately describe its primary purpose of measuring and tracking overall strategic performance.

Question 6

Which of the following countries has the highest trade in goods as a percent of GDP?&#10;A)U.S.&#10;B)Germany&#10;C)Japan&#10;D)China

Accepted Answer

Germany typically has a higher trade-to-GDP ratio compared to the U.S., Japan, and China, reflecting its strong export-oriented economy.

Question 7

Supply chain management emerged as&#10;A)companies started to outsource production&#10;B)the number of suppliers for each company grew&#10;C)globalization expanded the reach of suppliers and customers&#10;D)all of the above

Accepted Answer

All three options contributed to the emergence of supply chain management. Outsourcing production led to a need to effectively manage the flow of goods and information between different companies. As the number of suppliers for each company grew, it became more important to coordinate and optimize the entire supply chain. Finally, globalization led to a much broader network of suppliers and customers, making efficient supply chain management even more crucial.

Question 8

The last factor considered in a purchasing decision is the&#10;A)order qualifier&#10;B)order winner&#10;C)quality factor&#10;D)core competency

Accepted Answer

The last factor considered in a purchasing decision is the order winner, which is the factor that ultimately leads a customer to choose one supplier over another. The order qualifier and quality factor are important, but they do not necessarily play the deciding role in the purchase. Core competency is not directly related to a specific purchasing decision.

Question 9

A company's ____________ is what they do better than anyone else.&#10;A)primary task&#10;B)core competence&#10;C)order qualifier&#10;D)positioning strategy

Accepted Answer

Core competence refers to a company's unique strength or advantage in the market, which sets it apart from its competitors. It is a key factor in determining the company's potential and success in its industry. The other options are not related to this concept.

Question 10

Globalization has grown rapidly due to&#10;A)World trade agreements&#10;B)The Internet&#10;C)Outsourcing&#10;D)All of the above

Accepted Answer

Globalization has grown rapidly due to a combination of factors such as world trade agreements, which have allowed for the removal of trade barriers and the free flow of goods and services, the Internet, which has vastly increased communications and made it easier for businesses to operate globally, and outsourcing, which has allowed companies to take advantage of cheaper labor costs in other countries.

Question 11

The quality revolution was brought to us by&#10;A)Germany&#10;B)Japan&#10;C)China&#10;D)Mexico

Accepted Answer

The answer of The quality revolution was brought to us...

Question 12

Operations is often described as&#10;A)the creative core of an organization&#10;B)a transformation process&#10;C)the source of firm profitability&#10;D)all of the above

Accepted Answer

The answer of Operations is often described as&#10;A)the creative core...

Question 13

Productivity is defined as&#10;A)output over input&#10;B)input over output&#10;C)process yield&#10;D)exports minus imports

Accepted Answer

The answer of Productivity is defined as&#10;A)output over input&#10;B)input over...

Question 14

_____ helped to enable the Industrial Revolution.&#10;A)Linear programming&#10;B)Quality circles&#10;C)Interchangeable parts&#10;D)The Internet

Accepted Answer

The answer of _____ helped to enable the Industrial Revolution.&#10;A)Linear...

Question 15

The Principles of Scientific Management were proposed by&#10;A)Adam Smith&#10;B)Henry Ford&#10;C)Frederick Taylor&#10;D)Elton Mayo

Accepted Answer

The answer of The Principles of Scientific Management were proposed...

Question 16

The most common measure of productivity is&#10;A)Labor productivity&#10;B)Multifactor productivity&#10;C)Material productivity&#10;D)Technological productivity

Accepted Answer

The answer of The most common measure of productivity is&#10;A)Labor...

Deck 1: Introduction to Operations and Supply Chain Management