MGT613 Final Term Quizzes Mega File

MGT613 POMA · Composed By Faheem Saqib · A Mega File for Final Term Exams and Quizzes

Q1. Within the operations function, which one of the following is a long-term management decision? (1 marks)

1. Control decision
2. Non-operational decision
3. Strategic decision
4. Tactical decision

Correct answer: Strategic decision

Q2. Which one of the following forms of productivity has units of output per dollar input? (1 marks)

1. Capital
2. Energy
3. Labor
4. Machine

Correct answer: Capital

Q3. Which one of the following is a measure of productivity that involves measuring inputs and outputs using a common unit of measurement? (1 marks)

1. Multifactor
2. Partial
3. Single
4. Total

Correct answer: Multifactor

Q4. The major business function consisting of research and development, product design, manufacturing, marketing, distribution, and customer service is refers to: (1 marks)

1. Value chain
2. The transformation process
3. Quality control
4. Life cycle

Correct answer: Life cycle

Q5. A business process is a logical set of tasks or activities that: (1 marks)

1. Are specific to the operations function
2. Are specific to the marketing function
3. Are interdependent with other processes
4. Have exactly the same performance measures for any process

Correct answer: Are interdependent with other processes

Reference

Q6. Which one of the following formulae can be used to compute value? (1 marks)

1. (Quality + Speed - Flexibility) / Cost
2. (Quality + Speed+ Flexibility) / Cost
3. (Quality + Speed - Cost) / Flexibility
4. (Quality + Speed+ Cost) / Flexibility

Correct answer: (Quality + Speed+ Flexibility) / Cost

Q7. Which one the following formula or function can be used to measure the performance? (1 marks)

1. Flexibility + profit+ operations
2. Work + profit + value
3. Quality + speed + flexibility
4. Profit + Incentives + standards

Correct answer: Quality + speed + flexibility

Q8. Which of the following statements corresponds to an order-winning characteristic? (1 marks)

1. A factor which may be significant in other parts of the organization
2. A factor which gives an organization a competitive edge
3. A factor which serves as a minimum standard for purchase
4. A factor which increases the profitability of the organization

Correct answer: A factor which gives an organization a competitive edge

Q9. As a manager, you have defined the purpose of the forecasts. What should be the next step in forecasting process? (1 marks)

1. Choose a forecasting technique.
2. Determine the purpose of the forecast.
3. Set up a time horizon or a time limit.
4. Collect and analyze the appropriate data.

Correct answer: Set up a time horizon or a time limit.

Q10. Which one of the following forecasting technique is based on historical data? (1 marks)

1. Judgmental
2. Associative
3. Time series
4. Qualitative

Correct answer: Time series

Ref: · T ime series - uses historical data assuming the future will be like the past and depend on developing relationships between variables that can be expressed to predict future values.

Q11. Which one of the following forecasting techniques use subjective inputs su from consumer surveys, sales staff, managers and experts? (1 marks)

1. Time series
2. Quantitative
3. Judgmental
4. Associative

Correct answer: Judgmental

Ref: · Judgmental - uses subjective inputs meaning that a judgmental forecast rely on analysis of subjective inputs obtained from various sources, such as consumer surveys, the sales staff, managers and executives, and panels of experts. These insights are not available publicly.

Q12. Which of the following approaches favors adopting a “go for it” strategy? (1 marks)

1. Maximin
2. Maximax
3. Minimax regret
4. Laplace

Correct answer: Maximax

Q13. Possible future (1 marks)

demand

Low (Rs.) High (Rs.)

10,000 8,000 12,000 20,000 18,000 15,000 Given the table:

Alternatives

Small facility Medium facility Large facility Which one of the following is the correct payoff under MAXIMAX approach?

1. Rs. 10,000
2. Rs. 18,000
3. Rs. 20,000
4. Rs. 32,000

Q14. Which one of the following is NOT a step of decision making process? (1 marks)

1. Develop alternatives
2. Monitor results