Operations Managers Are Responsible for Managing Activities and Resources That

question 27

True/False

Operations managers are responsible for managing activities and resources that produce goods and/or provide services.

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Definitions:

Labor and Capital

The primary factors of production, where labor refers to human work effort and capital to tools, equipment, and buildings used in production.

Government Subsidized Property Insurance

Insurance programs supported by the government to make coverage available and affordable, often in high-risk areas.

Insurance Costs

represent the expenses related to purchasing insurance coverage, which provides financial protection against potential future losses or damages.

Business Risk

The exposure a company or investor faces from the uncertainties that could affect the financial, operational, and reputational standing of a business.