Exam 21: Managing Small Business Operations

Christie and Kevin are starting a produce farm raising organic vegetables.Kevin plans to sell the produce wholesale to a local restaurant and Christie is going to start a cooking school spotlighting the produce.Complete the following table detailing the inputs and outputs between the product business versus the service business.What are the similarities? Product: Wholesale Restaurant Sales Operation Services: Organic Food Cooking School Input Processes Output

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Question 1

Correct Answer:

Verified

Product:
Wholesale Restaurant Sales
Operation
Services:
Organic Food Cooking School
Ground,Plants,Seeds,Labor,Machinery,Energy,Facilities
Input
Organic Produce,Kitchen Facilities,Labor,Energy,Preparing Lessons
Preparing Ground,Planting,Watering,Harvesting,Taking Product to Restaurant
Processes
Setting up Produce and Equipment,Teaching Class,Cleaning Up
Organic Produce,Satisfied Restaurant Owner
Output
Satisfied Cooking Class Attendee,Prepared Organic Dishes
Both businesses use organic produce but more importantly,both should have satisfied customers as outputs.

Firms who pay attention to operating details are stronger than those who empower their customers for quality improvement.

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(True/False)

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Question 2

Correct Answer:

Verified

False

Linda creates websites for her customers.Each one is designed to meet the specific needs of the customer.This type of manufacturing is called:

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(Multiple Choice)

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Question 3

Correct Answer:

Verified

A category "C" item in the ABC method of inventory management for a college bookstore would be

(Multiple Choice)

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Question 4

A small business owner decides that her firm has a good customer focus and adequate tools and techniques needed for a TQM program.To be assured of a strong quality program,she must also have the proper

(Multiple Choice)

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Question 5

Match the term with its definition.Some terms may not be used. a.Continuous manufacturing b.Flexible manufacturing systems c.Job shops d.Lean production e.Make-or-buy decisions f.Operations g.Outsourcing h.Poka-yoke i.Project manufacturing j.Repetitive manufacturing k.Supply Chain Operations Reference model l.Synchronous manufacturing -A choice that companies must make when they have the option of making or buying component parts for products they produce

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Question 6

Myra operates a punch press on a production line.Because she is slower than the operators both before and after her in the process,work stacks up at her press.Myra is a:

(Multiple Choice)

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Question 7

Event management companies use project manufacturing.

(True/False)

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Question 8

The traditional method of maintaining product quality has been the

(Multiple Choice)

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Question 9

Which operations factor is centered around satisfying customers over time?

(Multiple Choice)

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Question 10

A method that judges products as acceptable or unacceptable is known as

(Multiple Choice)

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Question 11

Powerful companies,whether they are large or small,gain power when satisfying customer needs and wants better than their competitors.

(True/False)

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Question 12

Raj's company can either make the components or buy them.He should decide to make the components rather than buy them from a supplier

(Multiple Choice)

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Question 13

Match the term with its definition.Some terms may not be used. a.ABC method b.Associative forecasting c.Cooperative purchasing organization d.Cycle counting e.Demand management strategies f.Economic order quantity g.Just-in-time inventory system h.Perpetual inventory system i.Physical inventory system j.Poka-yoke k.Statistical inventory control l.Two-bin inventory system -A method of inventory conrol based on the use of two containers for each item in inventory,one to meet current demand and the other to meet future demand

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Question 14

A genuine concern for customer needs and customer satisfaction can assist the TQM efforts of a small business.

(True/False)

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Question 15

Acceptance sampling makes it possible to determine tolerance limits that allow for inherent variation due to chance.

(True/False)

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Question 16

Manufacturers with seasonal demand schedules often hire temps during peak production and keep only skeleton crews the rest of the year.

(True/False)

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Question 17

Match the term with its definition.Some terms may not be used. a.Acceptance sampling b.Attributes c.Bottleneck d.Constraint e.Inspection f.ISO 9000 g.Operations h.Operations management i.Poka-Yoke j.Quality k.Total quality management l.Variables -The examination of a part or a product to determine whether it meets quality standards

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Question 18

Match the term with its definition.Some terms may not be used. a.Acceptance sampling b.Attributes c.Bottleneck d.Constraint e.Inspection f.ISO 9000 g.Operations h.Operations management i.Poka-Yoke j.Quality k.Total quality management l.Variables -Product or service parameters that can be counted as being present or absent

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Question 19

The just-in-time inventory system classifies inventory into three categories based on value.

(True/False)

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Question 20

Showing 1 - 20 of 135

Firms who pay attention to operating details are stronger than those who empower their customers for quality improvement.

Linda creates websites for her customers.Each one is designed to meet the specific needs of the customer.This type of manufacturing is called:

A category "C" item in the ABC method of inventory management for a college bookstore would be

A small business owner decides that her firm has a good customer focus and adequate tools and techniques needed for a TQM program.To be assured of a strong quality program,she must also have the proper

Myra operates a punch press on a production line.Because she is slower than the operators both before and after her in the process,work stacks up at her press.Myra is a:

Event management companies use project manufacturing.

The traditional method of maintaining product quality has been the

Which operations factor is centered around satisfying customers over time?

A method that judges products as acceptable or unacceptable is known as

Powerful companies,whether they are large or small,gain power when satisfying customer needs and wants better than their competitors.

Raj's company can either make the components or buy them.He should decide to make the components rather than buy them from a supplier

A genuine concern for customer needs and customer satisfaction can assist the TQM efforts of a small business.

Acceptance sampling makes it possible to determine tolerance limits that allow for inherent variation due to chance.

Manufacturers with seasonal demand schedules often hire temps during peak production and keep only skeleton crews the rest of the year.

The just-in-time inventory system classifies inventory into three categories based on value.

The Entrepreneurial Lifethe Entrepreneurial Life

Integrity, ethics, and Social Entrepreneurship

Starting a Small Business

Franchises and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, legal Structures, alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Building Customer Relationships

Product Development and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Business

Professional Management and the Small Business

Managing Human Resources

Managing the Firms Assets

Managing Risk

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