Operations Management - Qp2

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| By Jackson Matthews
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Jackson Matthews
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Quizzes Created: 588 | Total Attempts: 709,671
| Attempts: 233
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  • 1/12 Questions

    When a new product or service is recommended as a result of R&D, a great deal of groundwork will have been done already.

    • True
    • False
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About This Quiz

Operations Management - QP2 is a quiz designed to assess understanding in product development and market strategies. It evaluates knowledge on R&D groundwork, product strategies, project management, decision-making processes, and environmental considerations in business operations.

Operations Management Quizzes & Trivia

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  • 2. 

    Good conceptual environmental thinking makes a by-product of one process into a key component of another, perhaps entirely different, product.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Good conceptual environmental thinking involves finding ways to utilize waste or by-products from one process as a valuable resource in another process. This can help minimize waste and promote a more sustainable approach to production. By repurposing these by-products, they can be transformed into key components for different products, reducing the need for additional raw materials and minimizing environmental impact. This approach aligns with the principles of a circular economy and promotes resource efficiency. Therefore, the statement is true.

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  • 3. 

    Forecasts provided for operations managers will range from basic data of a qualitative nature to a range of techniques which grow increasingly sophisticated in quantitative terms.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The statement suggests that forecasts provided for operations managers can vary in terms of their nature and sophistication. They can range from basic qualitative data to more advanced quantitative techniques. This implies that operations managers may receive forecasts that utilize different methods and levels of complexity, depending on the specific needs and requirements of the situation. Therefore, the statement is true.

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  • 4. 

    Many organisations use checklists to enable managers to make informed and consistent decisions during the initial screening process and the ongoing development of a project.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Many organizations use checklists to enable managers to make informed and consistent decisions during the initial screening process and the ongoing development of a project. Checklists provide a structured approach and ensure that all necessary factors are considered. They help managers to avoid overlooking important details and make the decision-making process more efficient. By following a checklist, managers can ensure that they are consistent in their decision-making and that all relevant factors are taken into account. Therefore, the statement "Many organizations use checklists to enable managers to make informed and consistent decisions during the initial screening process and the ongoing development of a project" is true.

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  • 5. 

    The stages of ______ then portray a well-established product or service with its market share, but facing a growing number of competitors.

    • Growth

    • Maturity and saturation

    • Decline

    Correct Answer
    A. Maturity and saturation
    Explanation
    The stages of maturity and saturation depict a well-established product or service with its market share but encountering an increasing number of competitors. In the maturity stage, the product or service has reached its peak and is experiencing stable sales and profits. However, saturation occurs when the market becomes saturated with similar offerings, leading to intense competition and potential decline in sales and profits.

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  • 6. 

    A product strategy contains three elements which includes:

    • Identification of the potential market segment and price range

    • Deciding whether few or many types of products or services are offered or carried

    • Deciding on the extent of product availability or service immediacy

    • Decide the methodology of value analysis

    Correct Answer(s)
    A. Identification of the potential market segment and price range
    A. Deciding whether few or many types of products or services are offered or carried
    A. Deciding on the extent of product availability or service immediacy
    Explanation
    The correct answer is a comprehensive list of the elements that a product strategy contains. It includes the identification of the potential market segment and price range, deciding whether to offer few or many types of products or services, deciding on the extent of product availability or service immediacy, and deciding the methodology of value analysis. These elements are crucial in determining the target market, product offerings, and overall strategy for a product or service.

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  • 7. 

    The presence of operations managers greatly facilitates realistic determination of the likely product marketing.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The presence of operations managers does not directly facilitate the determination of product marketing. Operations managers are typically responsible for overseeing the production and delivery of goods or services, while product marketing involves activities such as market research, advertising, and promotion. While operations managers may provide input or collaborate with marketing teams, their primary focus is on operational efficiency rather than product marketing. Therefore, the statement is false.

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  • 8. 

    The final stages of product development may require the use of project network techniques.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement is false because the final stages of product development may not necessarily require the use of project network techniques. While project network techniques can be helpful in managing and coordinating tasks in complex projects, they are not always a requirement in every product development process. Other project management methods or tools can also be employed depending on the nature and complexity of the project.

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  • 9. 

    Failure of an R&D programme can be because of one or more of the following reasons: (Select four)

    • Lack of continuing financial support

    • R&D staff are unable to handle the programme

    • Junior management require significant outcomes too quickly

    • Actual research facilities are inadequate

    • Friction between R&D and other functional areas

    • Adequate quality management skills shown by the head of R&D

    Correct Answer(s)
    A. Lack of continuing financial support
    A. R&D staff are unable to handle the programme
    A. Actual research facilities are inadequate
    A. Friction between R&D and other functional areas
    Explanation
    The failure of an R&D program can be attributed to a lack of continuing financial support, as without sufficient funding, the program may not have the resources necessary to carry out the research effectively. Additionally, if the R&D staff is unable to handle the program, it can lead to inefficiencies and a lack of progress. Actual research facilities being inadequate can hinder the program's ability to conduct experiments and gather data. Lastly, friction between R&D and other functional areas can create conflicts and hinder collaboration, which can negatively impact the program's success.

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  • 10. 

    Value analysis follows a basic five phase approach which links in with the product life cycle.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement is false because value analysis does not follow a basic five phase approach that links in with the product life cycle. Value analysis is a systematic process that aims to identify and eliminate unnecessary costs in a product or service without sacrificing quality. It involves various steps such as defining the problem, gathering data, generating ideas, evaluating alternatives, and implementing solutions. The product life cycle, on the other hand, refers to the stages a product goes through from introduction to decline. While value analysis can be applied at any stage of the product life cycle, it is not inherently linked to it.

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  • 11. 

    General marketing intelligence items which will be required are:  (Select five)

    • State of the economy

    • Levels of business activity

    • Restrictive practices and trade quotas

    • Time size of the market `window of opportunity'

    • Future changes in business practices

    • Possible changes in price levels

    Correct Answer(s)
    A. State of the economy
    A. Levels of business activity
    A. Restrictive practices and trade quotas
    A. Time size of the market `window of opportunity'
    A. Possible changes in price levels
    Explanation
    The correct answer includes the state of the economy, levels of business activity, restrictive practices and trade quotas, time size of the market 'window of opportunity', and possible changes in price levels. These items are necessary for general marketing intelligence as they provide information about the overall economic conditions, the level of business activity in the market, any restrictions or trade quotas that may affect marketing strategies, the time and size of the market's 'window of opportunity' for a particular product or service, and possible changes in price levels that may impact pricing strategies.

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  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • May 18, 2014
    Quiz Created by
    Jackson Matthews
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