Research suggests that the first good idea entrepreneurs come up with is always the
best.
The following sentence has two independent clauses. The author is best known for her
novels, she is known for her poems too.
“How much inventory of this item should we have?” is within the critical decision area
of managing quality.
Customers generally view a new company negatively if it imitates established
companies and practices in the industry.
One-line paragraphs are an especially appropriate means of emphasizing major points
in business messages.
A see-saw sentence is one that goes back and forth between two points.
One reason to study operations management is to learn how people organize themselves
for productive enterprise.
The product/service component of the feasibility study typically includes which of the
following aspects?
A. Stage of development
B. Competition
C. Market penetration
D. Cost forecast
Emily likes travelling, but every time she checks for tickets and a decent hotel, she gets
overwhelmed with the amount of information she gets. She wants people to have a
hassle-free travel experience. As a result, she starts a small business that filters
information based on peoples requirements and provides them with just the right
amount of information they need about the place they are travelling to, the best
available hotel, and the cheapest air fares. Which of the following is most likely to be
the source of Emilys business idea?
A. A chance happening
B. A personal interest
C. A similar business
D. An expertise
Which of the following statements is true?
A) The person most responsible for initiating the use of interchangeable parts in
manufacturing was Eli Whitney.
B) The origins of management by exception are generally credited to Frederick W.
Taylor.
C) The person most responsible for initiating the use of interchangeable parts in
manufacturing was Walter Shewhart.
D) The origins of the scientific management movement are generally credited to Henry
Ford.
E) The person most responsible for initiating the use of interchangeable parts in
manufacturing was Henry Ford.
In an attempt to become more innovative, a major pitfall that business owners are most
likely to become victim to is:
A. judging ideas slowly.
B. asking for support after failing the first time.
C. obeying all the rules to get investors.
D. using the first good idea as a business opportunity.
The first good idea is rarely the best. Stopping with the first good idea is one of the five
major pitfalls that business owners become victim to when trying to become more
innovative.
_____ refers to searching and capturing new ideas that lead to business opportunities.
A. Opportunity charging
B. Entrepreneurial alertness
C. Opportunity recognition
D. Opportunity encryption
If a business owner assumes that he or she needs to do all the work, make all the sales
calls, and solve everybodys problems, which major pitfall is the business owner
becoming a victim to while trying to become more innovative?
A. Obeying rules that do not exist
B. Judging ideas too quickly
C. Identifying the wrong problem
D. Failing to ask for support
Obeying rules that do not exist is a major pitfall that a business owner can be victim to
if he or she tries to do everything while trying to become more innovative.
According to the Panel Study of Entrepreneurial Dynamics (PSED), a majority of
entrepreneurs indicated that:
A. the decision to start a business came first.
B. the business idea came first.
C. the idea and decision were simultaneous.
D. starting a business is a loss-making proposition.
Which of the following is true of creative business owners?
A. They implement an imitative strategy to their business.
B. They do not ask many questions.
C. They question and challenge the way things appear.
D. They give more importance to the problems they face rather than identifying
opportunities.
Which of the following sentences avoids the use of faulty parallelisms?
A. The children wanted to visit the museum and to eat ice creams.
B. The children liked visiting the museum and to eat ice creams.
C. The children liked to visit the museum and eating ice creams.
D. The children liked visiting the museum, eating ice creams and to ride on the horses.
E. The children liked to visit the museum, eating ice creams and to ride on the horses.
Which of the following sentences best illustrates a roundabout construction?
A. The president is of the opinion that a recession is near.
B. The president believes a recession is near.
C. The president thinks a recession is near.
D. A recession is near, believes the president.
E. The president thinks a recession is coming.
The Dulac Box plant works two 8-hour shifts each day. In the past, 500 cypress packing
boxes were produced by the end of each day. The use of new technology has enabled
them to increase productivity by 30%. Productivity is now approximately
A) 32.5 boxes/hr
B) 40.6 boxes/hr
C) 62.5 boxes/hr
D) 81.25 boxes/hr
E) 300 boxes/hr
A cleaning company uses 10 lbs each of chemicals A, B and C for each house it cleans.
After some quality complaints, the company has decided to increase its use of chemical
A by an additional 10 lbs for each house. By what % has productivity (houses per
pound of chemical) fallen?
A) 0%
B) 10%
C) 15%
D) 25%
E) 33%
Reasons to study Operations Management include learning about
A) how people organize themselves for productive enterprise
B) how goods and services are produced
C) what operations managers do
D) a costly part of the enterprise
E) all of the above
_____ is a payment to a licensor based on the number or value of licensed items sold.
A. Milestone payment
B. Lump sum payment
C. Royalty
D. Pay-off
When a bookstore starts to sell videos, music, and coffee as well, it uses which of the
following elements of the SCAMPER tool?
A. Rearrange
B. Eliminate
C. Combine
D. Substitute
Which of the following will most likely enhance the readability of your message?
A. Using complex sentence structures
B. Using see-saw sentences
C. Using cluttering phrases
D. Using roundabout constructions
E. Using short sentences
RecycleAll Inc. is a company in Memphis, Tennessee, which recycles all the
biodegradable waste in the city. Being a staunch environmentalist, Francine, a resident
of Memphis, started up a small business that had tie-ups with all the schools and
colleges in the city to spread awareness on the importance of recycling. Which of the
following factors most likely led Francine to her business idea?
A. A similar business
B. A hobby
C. An education
D. A chance happening
The Dulac Box plant produces wooden packing boxes to be used in the local seafood
industry. Current operations allow the company to make 500 boxes per day, in two
8-hour shifts (250 boxes per shift). The company has introduced some small changes in
equipment, and conducted appropriate job training, so that production levels have risen
to 300 boxes per shift. These changes did not require any change in the amount of
capital spending or energy use. What is the firms new labor productivity?
What is a pilot test?
De
How much did the BCF spend on salaries and benefits as a percentage of expenses in
2010 and 2009? What was the percent change between the two years?
Why are organizations changing from batch (large) shipments to just-in-time (JIT)
shipments?
The Dulac Box plant produces wooden packing boxes to be used in the local seafood
industry. Current operations allow the company to make 500 boxes per day, in two
8-hour shifts (250 boxes per shift). The company has introduced some moderate
changes in equipment, and conducted appropriate job training, so that production levels
have risen to 300 boxes per shift. Labor costs average $10 per hour for each of the 5
full-time workers on each shift. Capital costs were previously $3,000 per day, and rose
to $3,200 per day with the equipment modifications. Energy costs were unchanged by
the modifications, at $400 per day. What is the firms multifactor productivity before
and after the changes?
Productivity is the ratio of __________ to __________. Using this relationship,
productivity can be improved by __________ or __________.
Why are operations managers faced with ethical and social challenges?
What are the BCFs two largest sources of total income in 2010? Use common-size
ratios to show their importance to the BCF revenue portfolio. Provide year-over-year
percentage increases for each.
Brandon Production is a small firm focused on the assembly and sale of custom
computers. The firm is facing stiff competition from low-priced alternatives, and is
looking at various solutions to remain competitive and profitable. Current financials for
the firm are shown in the table below. In the first option, marketing will increase sales
by 50%. The next option is Vendor (Supplier) changes, which would result in a decrease
of 10% in the cost of inputs. Finally there is an OM option, which would reduce
production costs 25%. Which of the options would you recommend to the firm if it can
only pursue one option? In addition, comment on the feasibility of each option.
Business Function Current Value
Cost of Inputs $50,000
Production Costs $25,000
Revenue $80,000