Operations Management Ch1 (MBA) Exam Study Guide with Complete Solutions
5 views 0 purchase
Course
MBA
Institution
MBA
Operations Management Ch1 (MBA) Exam
Study Guide with Complete Solutions
Operations Management - Answer️️ -Activities that relate to the creation
of goods and services through the transformation of inputs --> outputs
Explain the distinction between goods and services. - Answer️️ -A g...
**Indicates the ratio of MANY or all resources (inputs) to the goods and
services produced (outputs).
Identify the critical variables in enhancing productivity. - Answer✔️✔️-1.
Labor - contributes about 10% of the annual increase
2. Capital - contributes about 38% of the annual increase
3. The art & science of Management - contributes about 52% of the annual
increase
Productivity increases when: - Answer✔️✔️-Inputs decrease while outputs
remain the same
Services often: - Answer✔️✔️-Are knowledge based
Productivity: - Answer✔️✔️-Is dependent upon labor, management, and
capital
Single-factor productivity: - Answer✔️✔️-Usually uses labor as a factor
Multifactor productivity: - Answer✔️✔️-Usually uses substitutes as common
variables for the factors of production
Productivity increases each year in the U.S. are a result of three factors: -
Answer✔️✔️-Labor, capital, and management
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SophiaBennett. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
