3 types of Operation Management Decisions - ANS > Strategic, tactical, operational
Strategic Decisions - ANS > • Long term • Often involving acquisition of new resources • Electric utility - power station construction
Tactical - ANS > Medium term. Utilization of existi...
P370 Midterm Exam Questions Answered Correctly
2024/25
3 types of Operation Management Decisions - ANS > Strategic, tactical, operational
Strategic Decisions - ANS > • Long term • Often involving acquisition of new resources • Electric utility -
power station construction
Tactical - ANS > Medium term. Utilization of existing resources. Assembly plant workforce
commitments
Operations Management - ANS > Operations management oversees all activities that are directly
related to making a product or providing a service. Operations management is responsible for the
conversion of inputs of materials, money, energy, people, and information into useful goods and
services. Operations management is the design, operation, and improvement of the production system
that creates the firm's primary products and services.
Operational - ANS > short term. Execution of scheduled or controlled activities. EX: hospital shift
scheduling
All companies compete on... - ANS > Price, innovation, convenience, quality
Project - ANS > series of related jobs usually directed toward some major output and requiring a
significant period of time to perform. Examples include constructing the new business building,
launching a new product, or moving a head office from one city to another.
Any delay in the critical path - ANS > will result in a delay of the project overall
Early Start Date (ES) - ANS > the ES for an activity is the maximum of the EFs for all predecessor
activities.
Early Finish Date (EF) - ANS > EF for an activity is the ES for that activity plus the required time.
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