Busi411 - Study guides, Class notes & Summaries

quality the ability for a product or service to meet or exceed customer expectations father of scientific management Frederick W Taylor - gave new ideas to quality by introducing product inspection zero defect concept gained speed in 1960s, focused on employee motivation and awareness walter shewhart father of statistical quality control, developed control charts to see what action was necessary W Edwards Deming 14 points needed to achieve quality in an organization, stressed rem...

Goods physical items that include raw materials, parts, subassemblies (motherboards that go into computers) and final products (cell phones, automobiles) Services Activities that provide some combination of time, location, form, or psychological value The ideal situation for a business organization is to achieve economic match of supply and demand; - having excess supply or capacity is wasteful and costly - having too little means lost opportunity and possible customer dissatisfactio...

Bottleneck operationsAn operation in a sequence of operations whose capacity is lower than that of the other operations break-even pointthe volume of output at which total cost and total revenue are equal capacitythe upper limit or ceiling on the load that an operating unit can handle capacity cushionextra capacity used to offset demand uncertainty cash flowthe difference between cash received from sales and other sources, and cash outflow for labor, material, overhead, and taxes

BUSI 411 EXAM 3 – QUESTION AND ANSWERS (BUSI411)

quality the ability for a product or service to meet or exceed customer expectations father of scientific management Frederick W Taylor - gave new ideas to quality by introducing product inspection zero defect concept gained speed in 1960s, focused on employee motivation and awareness walter shewhart father of statistical quality control, developed control charts to see what action was necessary W Edwards Deming 14 points needed to achieve quality in an organization, stressed rem...

Goods physical items that include raw materials, parts, subassemblies (motherboards that go into computers) and final products (cell phones, automobiles) Services Activities that provide some combination of time, location, form, or psychological value The ideal situation for a business organization is to achieve economic match of supply and demand; - having excess supply or capacity is wasteful and costly - having too little means lost opportunity and possible customer dissatisfactio...

Bottleneck operationsAn operation in a sequence of operations whose capacity is lower than that of the other operations break-even pointthe volume of output at which total cost and total revenue are equal capacitythe upper limit or ceiling on the load that an operating unit can handle capacity cushionextra capacity used to offset demand uncertainty cash flowthe difference between cash received from sales and other sources, and cash outflow for labor, material, overhead, and taxes constr...

Homework part 3 (1-1.5 pages answer) Case 13.3 Building a High-Involvement Organization at Air Products and Chemicals, Inc. Request: • Critique how this organization implemented the necessary systems to become a high-involvement organization. • Detail the action steps in this process as compared to those recommended by the author of the text. • Do you believe this will be motivating for the employees? Support why you believe this. Article on P.397, please check pdf for ref...

BUSI 411 Exam 4 – Question and Answers Everything else being equal, a firm considering outsourcing would find all of the following desirable except: The maximum possible output given a product mix, scheduling difficulties, personal time, and so on is: Which of the following is not a reason why capacity decisions are so important? Which of the following would tend to reduce effective capacity? Students at a major university must go through several registration steps. Officials have ob...

BUSI 411 Exam 3 – Question and answers Which of the following principles emphasizes that actions should make the community as a whole better off? Which of the following is not an ongoing trend in manufacturing? A “product package” consists of: In addition to operations, which of the following is considered a “line” function? Business organizations consist of three major functional areas which, ideally: An organization’s mission statement serves as the basis for: Which of the...