'Operations Management' Refers to the Design, Operation and Control of the Transformation

question 36

True/False

'Operations management' refers to the design, operation and control of the transformation process that utilises labour and machines to produce outputs.

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Definitions:

Company's Strategy

An organization's plan for achieving its long-term goals and objectives, including its approach to growth and competition.

Tariffs

Taxes imposed by a government on imported goods to protect domestic industries, raise revenue, or both.

Global Transportation

The movement of goods and services across the globe, utilizing various modes of transportation to connect markets and supply chains.

Managerial Accounting

The process of identifying, measuring, analyzing, interpreting, and communicating financial information for the pursuit of an organization's goals.