Mgt 301 - Study guides, Class notes & Summaries

BMGT 301 EXAM 1 UMD Questions And Answers 2024

MGT 301 Exam 2 UNLV – McAllister Complete Questions And Answers Graded A+ MGT 301 Exam 2 UNLV – McAllister Complete Questions And Answers Graded A+

BMGT 301 EXAM 1 UMD SOLVED 100% CORRECT!!

The manager's roles and skills correct answers · •Management Skills · • Technical Skills - the ability to apply specialized knowledge or expertise. All jobs require some specialized expertise, and many people develop their technical skills on the job. •Human Skills - the ability to work with, understand, and motivate other people, both individually and in groups. · •Conceptual Skills - the mental ability to analyze and diagnose complex situations. · Why few absolutes appl...

Define forecasting and the goals of forecasting. correct answers Forecasting provides an estimate of future demand Goal: minimize forecast error and match supply and demand - Identify factors that influence demand - Companies must accurately forecast demand to produce & deliver the right quantities List the benefits of improved forecasts. correct answers Improved forecasts benefits all trading partners with: -lower inventories -reduced stock-outs -smoother production plans -reduced c...

An operations task performed at Hard Rock Café is - ️️preparing employee schedules ABC analysis is based upon the principle that - ️️there are usually a few critical items, and many items which are less critical The five elements in the management process are - ️️plan, organize, staff, lead, and control Which of the following is NOT a typical operations management function? - ️️Produce an advertising campaign for a cell phone BMW's plant in Spartansburg, SC developed ...

Putnam Investments of Boston offers a wide range of mutual funds through independent brokers. To gain a competitive advantage over other mutual fund companies, Putnam now provides brochures and prospectuses of their mutual funds to brokers within 24 hours of request. This is an example of a.Low-cost strategy b.Differentiation strategy c. Responsiveness strategy d. Service strategy correct answers C An operations task performed at Hard Rock Café is wing funds to build a new restaur...

Putnam Investments of Boston offers a wide range of mutual funds through independent brokers. To gain a competitive advantage over other mutual fund companies, Putnam now provides brochures and prospectuses of their mutual funds to brokers within 24 hours of request. This is an example of - Responsiveness strategy An operations task performed at Hard Rock Café is - preparing employee schedules The five elements in the management process are - plan, organize, staff, lead, and control Which...

Why is it so important to carefully manage inventory? Where is inventory in the SC? correct answers Inventory control is important in maintaining the right balance of stock in your warehouses. Inventory is included in operations. Reasons to avoid inventory correct answers 1. requires additional spaces -machines 2. opportunity cost of capital- expanding operations (locations, labor, etc.) 3. spoilage + shrinkage- food, medicine, etc. 4. obsolescence: old technology- pagers, landline, etc. ...