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Unit1 - 4 Mark Quiz Questions
1. Simple exponential smoothing is being used to forecast demanThe previous forecast of 66 turned out to be six units less than actual demanThe next forecast is 66.9, implying a smoothing constant, alpha, equal to: a. .01 b. .10 c. .15 d. .20 2. The temperature on Tuesday was 80 degrees, on Wednesday it was 82 degrees, on Thursday it was 78 degrees. A naive forecast for the temperature on Friday would be:
a. 78 b. 80 c. 84 d. 82 3. Which one of these is not an element of a good forecast? a. meaningful units b. timely c. in writing d. low cost
Unit2 - 4 Mark Quiz Questions
1. Companies that succeed in competing in stagnant or declining industries a. usually are forced to steer a middle course between low-cost and differentiation and pursue a best-cost provider strategy. b. typically pursue short-term cash flow maximization rather than long-term profit maximization. c. sometimes rely on a focus strategy that involves identifying, creating, and exploiting growth segments within the overall industry; sometimes elect to pursue differentiation strategies keyed to quality improvement and product innovation; and sometimes work diligently and persistently to drive costs down. d. depend heavily on defensive strategies rather than offensive strategies and are patient and willing to wait the hard times out until the market turns around (as it usually does) and business conditions improve. 2. The big managerial challenge in competing in a fast-changing, high-velocity market environment where there are many new technological frontiers and many new products being introduced is a. whether to pursue broad differentiation or focused differentiation based on superior product quality or superior customer service. b. whether to pursue revenue growth by increasing sales to existing customers or by going after altogether new customers. c. managing change. d. whether to concentrate on the domestic market or to compete more broadly in international markets. 3. Which of the following are not characteristics of a maturing industry? a. Companies begin to respond by pruning their product lines, focusing on cost reduction, expanding internationally, pursuing value chain innovation, and purchasing/acquiring weak or struggling competitors b. Profit margins start to get squeezed, industry profitability begins to erode, and the industry begins to consolidate c. Entry barriers fall, the industry becomes more profitable because market demand is dependable and stable, and most competitors are driven to pursue a low-cost provider strategy d. There is more head-to-head competition for market share and product innovations and new-end-use applications are harder to come by,
Unit3 - 4 Mark Quiz Questions
1. An operations strategy is developed using many sources of input - which is the least likely to have input? a. Suppliers b. Quality c. Planning d. Top Management 2. Many factors impact productivity, one factor not generally stated as having a negative impact on productivity is: a. Increased emphasis on services b. Emphasis on short-term performance c. Liability claims d. Government regulations 3. Which is the correct hierarchy of operations management decisions (highest first)?
a. Strategic, tactical, operating b. Operating, strategic, tactical c. Goals, missions, productivity d. Operating, tactical, strategic
Unit4 - 4 Mark Quiz Questions
1. The incorporation of human factors in job design is known as: a. job enrichment b. allowance factors c. egonomics d. motion study
2. Which one of the following statements about stopwatch time studies is not true? a. It is well suited for repetitive jobs. b. There is no record of the method used by the worker. c. Several repetitions are usually timed. d. A performance rating is usually necessary. 3. Which one of the following statements concerning work sampling is not true? a. It can be used to estimate the percentage of delay. b. A detailed description of activities is obtained. c. Observations are made at random intervals. d. Multiple observations are necessary.
Unit5 - 4 Mark Quiz Questions
1. Constraints in linear programming refer to: a. the maximum free memory space available in the computer b. minimum or maximum resource availability or requirements c. managements willingness to allow the use of LP d. the cost of the LP software 2. The logical approach, from beginning to end, for assembling a linear programming model begins with: a. identifying the constraint coefficients b. identifying the decision variables c. identifying the objective function d. specifying the objective function parameters
Unit6 - 4 Mark Quiz Questions
1. A transportation model has 6 rows and 5 columns. What is the minimum required number of occupied cells?
a. 10. b. 12. c. 9. d. 11. 2. In a transportation model, an alternate optimal solution exists if:
a. The value of at least one unoccupied cell is zero. b. The values of some cells are positive and the rest are negative. c. The values of all of the unoccupied cells are negative. d. The values of all of the unoccupied cells are positive.
3. In transportation model analysis the intuitive method is used to obtain: a. an improvement to the initial solution b. an improvement to the previous solution c. an initial optimal solution d. an initial feasible solution
Unit7 - 4 Mark Quiz Questions
1. Vertical integration a. forward into wholesale distribution and retail operations is one of the best strategic options to lowering the costs of accessing end-users and becoming the overall low-cost provider. b. is the most dependable and frequently used way to achieve a cost advantage over rivals because it increases a firms flexibility in using its resources most advantageously. c. can be a good strategy if it enhances a firms competitiveness; otherwise, it is illadvised, in part because it locks a firm into relying on its own in-house activities and sources of supply and/or distribution outlets (which later may prove more costly than having these value chain activities performed by outsiders). d. backward into the production of parts and components is a dependable and trustworthy way to reduce the costs of items purchased from suppliers (because internal manufacture is typically cheaper than outsourcing). 2. Which of the following is not one of the basic types of strategic offensives? a. Initiatives to match or exceed on competitors strengths and simultaneous initiatives on many fronts b. Guerrilla offensives and end-run offensives c. Initiatives to capitalize on competitors weaknesses d. Initiatives to change the rules of competition and alter the industrys key success factors 3. Which of the following statements is inaccurate? a. A strategic offensive that involves guerilla warfare-style tactics nearly always should involve cutting price below those charged by the rivals being targeted if it is to succeed. b. In considering offensive initiatives, a would-be challenger needs to analyze carefully which rivals to challenge as well as what kind of offensive to mount and how to mount it and also weigh the relative merits of targeting market leaders or runner-up firms or struggling enterprises or small local or regional firms with limited expertise and resources. c. A strategic offensive aimed at going head-to-head against key competitors to match or beat their strengths may be an attractive way of winning market share away from weaker rivals whose strengths and resources can be outmatched; going
head-to-head against a rivals strengths may be unavoidable if the competitive advantage of a stronger rival is to be narrowed or whittled away entirely. d. Offensives aimed at attacking a strong rival stand the best chance of succeeding if they are predicated on a cost advantage that permits offering an equally good product at a lower price; otherwise the offensive is probably destined to hurt profitability and sap financial resources.
Unit8 - 4 Mark Quiz Questions
1. Calgary shareholders remove chief STANLEY PIGNAL. (Financial Times. London (UK): Apr 15, 2008) Shane OLeary, chief operating officer of the UK-Canadian group, will take over the reins from Mr [Richard Anderson]. High hopes over the gas explorer's intentions to develop a field in Algeria caused its share price to peak in 2005 but its failure to exploit the prospect has since caused its share price to slump. In spite of Mr [Khelil]s views, FCP yesterday announced that Mr [Michael Kroupeev]s proposed slate of directors would now be recommended by management, making their election virtually guaranteed, although two of his nominees would step down and make way for compromise board members. Mr Kroupeev, who controls nearly 10 per cent of FCP through an investment vehicle, also sounded a conciliatory tone. The minister has no grounds to be concerned. There has been no change in control of the board. We are fully committed to developing this project. Which of the following process is applicable to this context?
a. initiating process b. closing process c. executing process d. controlling process 2. Project ARBRE: Lessons for bio-energy developers and policy-makers(Athena Piterou, Simon Shackley, Paul Upham. Energy Policy. Kidlington: Jun 2008. Vol. 36, Iss. 6; ) Project Arable Biomass Renewable Energy (ARBRE) was a flagship project in the UK to demonstrate electricity generation from dedicated energy crops, employing the high efficiency of gasification combined cycle technology while also contributing to the waste management problem of sewage disposal. The plant never reached commercial operation and this paper provides the first detailed public account of the reasons, drawing on interviews with the main actors. Project ARBRE failed due to three unfortunate developments: the withdrawal for reasons of commercial strategy of the main company that initiated and financed the project; bankruptcy of the turnkey contractor appointed to oversee the project; and technical problems with the gasification technology, which could not be resolved within the financial and time constraints. All these factors acted in reinforcing manner and they were individually preventable: documenting the process of failure is a learning experience that can prevent their recurrence. Failures listed above
may fall under one or more of the following categories. recurrence. Failures listed above may fall under one or more of the following categories. 1. Factors contributing to project success not emphasized 2. Overview of Information and Communication Technologies (ICT) projects: 3. Common problems encountered during projects 4. Incidence of projec 3. failure Identify the appropriate categories? a. 1,2 and 4 b. 1,2 and 3 c. 1,3, and 4 d. 2,3 and 4 4. TITLE : small projects, big results(Karen M Kroll. PM Network. Drexel Hill: Jul 2007. Vol. 21, Iss. 7; pg. 28) Small projects may not be as glamorous or prestigious as their larger counterparts, but theyre still important and still require project management. The most common mistake people make when executing small projects is thinking that because of the small amount of effort required, the project doesnt need planning at all, says Roberta Toledo, PMP, managing partner at Alpha Consultoria, a project management consultancy in Mexico City, Mexico. Project managers who opt to cut back on project management principles run several risks, says Margo OFarrell, a teacher of project management at TAFE Tasmania, a training organization in Tasmania, Australia. First, if the project manager becomes ill or otherwise unavailable, the project will probably come screaming to a halt. Failing to apply project management principles can also result in a lack of executive commitment, OFarrell says. A project managers reputation may be at stake, too. Even when a project is relatively small, the objective can be substantive. The amount of planning and process should be proportional to the projects scope. Finally, once the project is underway, project managers must find ways to keep team members focused on the goal-which can be particularly tricky on small projects. In the above description, which main principles of project management are being focused upon? a. quality and schedule b. cost and quality c. features and cost d. schedule and staff
Unit9 - 4 Mark Quiz Questions
1. In the analysis and evaluation phase, the following two are i) Feasibilty Study - To analyze whether the project is technically, economically and practically feasible to be undertaken. ii) Trade-off analysis: To understand and examine the various alternatives which could be considered Which of the following is correct? a. Both are false b. true and false respectively c. false and true respectively d. Both are true 2. In the analysis and evaluation phase, the following two are i) Project Evaluation : Evaluate expected profit, cost and risks involved. ii) Estimation : Estimate the project cost, effort required and functionality. Which of the following is correct? a. true and false respectively b. Both are true c. false and true respectively. d. Both are false 3. In the analysis and evaluation phase, the following two are i) Trade Off Analysis - To analyze whether the project is technically, economically and practically feasible to be undertaken. ii) Feasibility study: To understand and examine the various alternatives which could be considered Which of the following is correct? a. true and false respectively b. Both are false c. Both are true d. false and true respectively.
Unit10 - 4 Mark Quiz Questions
1.Match the following: (p) define (x)design of experiments, modeling (q) improve control charts, time series, procedural adherence, performance mgmt. (r) standardize (z) benchmark, customer requirement, process flow map, quality function. Which of the following is correct?
a. p-z, q-x, r-y b. p-y, q-x, r-z c. p-x, q-y, r-z d. p-z, q-y, r-y 2. Match the following: (p) analyse (x)design of experiments, modeling (q) improve cause and effect, failure modes, reliablity, decsion and risk (r)standardize (z)control charts, time series, procedural adherence, performance mgmt. Which of the following is correct?
a. p-z, q-y, r-y b. p-z, q-x, r-y c. p-x, q-y, r-z d. p-y, q-x, r-z 3. Match the following: (p) analyse (x)data collection, detect metrics, sampling (q) improve cause and effect, failure modes, reliablity, decsion and risk (r) measure (z)design of experiments, modeling Which of the following is correct?
a. p-y, q-x, r-z b. p-z, q-y, r-y c. p-y, q-z, r-x d. p-z, q-x, r-y
Unit11 - 4 Mark Quiz Questions
1. Match the following p) fiscal discipline & control x) scientifically designed system of inforomation n/w q) integrated n/w of information y) conservation of funds r) idling of assets z) balance b/w justified and undjustified inventory which of the following is correct ? a. p-x, q-y, r-z b. p-y, q-x, r-z c. p-z, q-y, r-x d. p-z, q-x, r-y
2.Match the following with respect to supply chain: p)Upstream x) involved in delivering the products to the final customers. q)Internal y) processes the inputs from the suppliers into the outputs. r)Downstream z) activities of a manufacturing company with its suppliers Which of the following is correct?
a. p-z, q-y, r-x b. p-y, q-x, r-z c. p-z, q-x, r-y d. p-x, q-y, r-z
3.The following statements are the views on supply chain p) SCM is a static system of interconnected and interdependent individuals, groups, companies, organization, and relationships aimed at satisfying the customers. q) SCM optimizes information and product flows from the purchase of raw materials to the delivery of finished goods with a vision of achieving significant strategic objectives involving productivity, quality, innovative service and collaborations. Which of the following is correct : a. both
are true b. p is false and q is true c. p is true and q is false d. both are false
Unit12 - 4 Mark Quiz Questions
1. Which inventory model does not provide an order quantity? a. EOQ. b. Single-perioFixed-interval c. Quantity discount d. ROP 2. Which one of the following is not a requirement for effective inventory management? a. A system to keep track of inventory on hand b. A classification system for inventory items c. Reasonable estimates of holding and shortage costs d. Using an EOQ model for determining reorder point
3. Which one of the following would be considered a potential cost of inventory? a. Shortage b. Carrying c. Order d. Overtime
Unit13 - 4 Mark Quiz Questions
1. Breakdown programs include all of the following except: a. inventories of spare parts. b. periodic inspections. c. backup equipment. d. operators who can perform minor repairs. 2. Cost of equipment breakdown can include: a. loss of output b. cost of idle workers c. damage to other equipment d. all of the above 3. Preventive maintenance is not usually scheduled:
a. irregularly, as breakdowns occur. b. by operating time. c. by calendar time. d. by planned inspections.
4. The degree of preventive maintenance that is desirable is influenced by all of the following except: a. breakdown cost. b. salvage value of equipment. c. the age and condition of facilities. d. the degree of technology involved.
Unit14 - 4 Mark Quiz Questions
1. An important assumption in PERT calculations is: a. activity times are normally distributeactivity times are independent. b. alternate activities are available for every element c. a computer will be available to do the calculations. d. early start times must equal early complete times 2. Concerning PERT and CPM: a. CPM tends to focus more on the critical path while PERT computes the minimum slack times. b. These are two different names for essentially the same technique. c. Because of its recent discovery, much less is known about CPM than PERT. d. PERT gives a clearer indication of activity slack, while CPM gives a better picture of path slack. 3. Which one of the following would not be a probable reason for choosing simulation as a decision-making tool? a. Users are able to understand the model. b. Good results have been obtained in the past using simulation. c. The problem can be solved by mathematical formulas. d. The manager wishes to conduct experiments.
Unit15 - 4 Mark Quiz Questions
1. Companies that are focused on growing their revenues and earnings at a rapid or above-average pace year-after-year a. typically form an array of strategic alliances with foreign firms to accelerate access to the markets of foreign countries and diversify their product lines so as to offer buyers a wide selection. b. usually have to pursue global strategies and enter as many new foreign markets each year as their resources will permit. c. have a portfolio of strategic initiatives that range from strengthening its existing businesses to entering businesses with promising growth opportunities to planting the seeds for entirely new ventures. d. have to be aggressive first-movers and strive to build a dominant market share via merger and acquisition.
2. In a fragmented industry a. participants generally have the strategic freedom to pursue broad or narrow market targets and low-cost or differentiation-based competitive advantages; some of the attractive strategy options are to construct and operate formula facilities in many different locations, specialize by product type or by customer type, or focus on a limited geographic area. b. one of the most suitable competitive strategy options is to expand internationally in order to gain first-mover advantages in the markets of attractive foreign countries; another of the suitable competitive strategy options is to form strategic alliances with sellers in each of the many local markets to gain broad access to many different local markets. c. the market is usually local (which is why it takes thousands of sellers to cover all the different local markets). d. the standout competitive feature is the attempts of industry members to rapidly merge with and/or and acquire rival companies so as to overcome the shortcomings of market fragmentation.
3.To sustain their market positions, industry leaders usually need to consider which of the following strategic options? a. A broad differentiation strategy, a multiple profit sanctuary strategy, a preemptive strike strategy, an acquisition strategy, a joint venture strategy, or a rapid diversification strategy b. A stay-on-the-offensive strategy, a fortify-and-defend strategy, or a muscleflexing strategy c. A global expansion strategy, a fortify-and-defend strategy, a market consolidation strategy, or a strategic alliance strategy d. A follow-the-leader strategy, a strategic alliance strategy, a market dominance strategy, an end-game strategy, or a rapid growth strategy