MGT 455 Exam 1 Lecture Material

docx

School

Arizona State University *

*We aren’t endorsed by this school

Course

455

Subject

Management

Date

Apr 3, 2024

Type

docx

Pages

Uploaded by LieutenantLoris705

Lecture: Fundamentals of Production and Operations Management Study Guide Topic 1: Core Functions of Organizations - Organizational Pillars : What are the three primary functions that every organization must focus on? - Exactly, the core functions are marketing, production/operations, and finance/accounting . Topic 2: Why Study Operations Management? - Importance of Operations Management : Why should we study this subject? - We study it to understand what operations managers do , how goods and services are produced , and how people organize for productive enterprise , among other reasons. c 4: Linear-Regression Analysis *Coefficient of Determination**: In linear-regression analysis, what measures the percent of variation in the dependent variable? - Topic 3: Improving Productivity - Productivity Enhancement: How can we improve productivity ? - By decreasing inputs while holding outputs steady.

Topic 4: Measuring Productivity - Multifactor Productivity: How do we calculate the total of all outputs produced by the transformation process divided by the total of the inputs? - It's known as multifactor or total factor productivity . Topic 5: PERT Analysis - PERT Distribution: What distribution is used in PERT analysis for calculating expected activity times and variances? - The Beta distribution is used, or a continuous probability distribution defined by two positive parameters that models random variables . typically use a long-range time horizon in - That's right, for new product planning, capital expenditures, facility location or expansion, and R&D. Topic 6: Phases of Project Management - Project Management Phases : What is NOT considered a phase in project management? - Budgeting is not a phase in traditional project management. Topic 7: Data Variations

- Random Variation : What do we call events in the data caused by chance or unusual situations? - These are considered random variations. Topic 8 : Productivity Variables - Key Productivity Variables: What are the three commonly used productivity variables? - Exactly, they are labor , capital , and management . Topic 9: Strategic Decisions in Operations Management - Non-Strategic Decisions: Which of the following is NOT a strategic operations management decision? - Price is not a strategic operations management decision. Topic 10: PERT vs. CPM - Distinguishing PERT and CPM: What's the main difference between PERT and CPM? - Yes, PERT employs three time estimates for each activity . Topic 11: Operations in Airline Company - Airline Operations: Which task within an airline company is related to operations?

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

- Crew scheduling is an operations-related task . Topic 12: Historical Figures - Father of Scientific Management : Who is known as the "Father of Scientific Management"? - Frederick W. Taylor. --- Topic 13: Operations Manager's Role - Operations Manager Responsibilities: What is an operations manager NOT likely to be involved in? - They are generally not involved in identifying customers' wants and needs. Topic 14: Gantt Charts - Gantt Chart Features: What is true about Gantt charts? - Gantt charts are visual devices that show the duration of activities in a project. Topic 15: Stakeholders

- Who are Stakeholders?: What term is given to individuals with a vested interest in an organization? - They are called stakeholders. Topic 16: Project Organization Conditions - Best Conditions for Project Organization: Under what conditions does a project organization work best? - It works best when work tasks can be defined with a specific goal and deadline, the work contains interrelated tasks requiring specialized skills, and the project cuts across organizational lines. Topic 17: Specialization and Supply Chains - Global Supply Chains: What fosters specialization and worldwide supply chains? - Instant communication plays a significant role. (. Topic 18: Significant Events in Operations Management - **Historical Contributions**: What is TRUE about significant events in operations management? - Charles Sorensen was instrumental in the development of the moving assembly line.

Topic 19: Project Manager's Direct Responsibility - **Project Manager's Role**: What is a direct responsibility of the project manager? - Ensuring that people assigned to the project receive the motivation, direction, and information needed to do their jobs . Topic 20: Strategic Operations Management Decisions - Non-Strategic Decisions: Which of the following is NOT one of the 10 strategic operations management decisions? - Mass customization is not one of them. Topic 21: Marketing Function - Role of Marketing: What is the marketing function concerned with? - It is concerned with generating the demand for the organization's products or services.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Topic 22: Ethical Code Violations - Ethical Dilemmas: What situations could lead to an ethical code violation? - Rewarding a contractor after receiving a large gift, altering status reports, and cutting corners could all lead to ethical code violations. Feel free to stop me at any point if you have questions or need further clarification on any of these topics. e with the rest of the topics?

Related Documents

smart goal temp.docx

Quick Chips Inc. Case Study.docx

HR test practice.docx

Tucker QSO 640 Milestone 1.docx

Journal Two QSO-640.docx

interview2.pdf

Week 1 Discussion.docx

Case Study 4.docx

Assignment 12 FEB.docx

CLC- staffing and compensation plan.docx

Essay Lesson 4 mgt.docx

Mini case.docx

Recommended textbooks for you

Management, Loose-Leaf Version

Management

ISBN:9781305969308

Author:Richard L. Daft

Publisher:South-Western College Pub

Foundations of Business (MindTap Course List)

Marketing

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:Cengage Learning

Foundations of Business - Standalone book (MindTa...

Marketing

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning