Which of the Following Statements Is a Reason Why Operations

question 38

Multiple Choice

Which of the following statements is a reason why operations management is important?

• A)Efficient and productive operations drive the economic well-being of nations.
• B)Operations management is responsible for much of the value created by organizations.
• C)Operations management is a key source of competitive differentiation among firms.
• D)All of these are reasons why operations management is important.

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Definitions:

Future Value

The value of an investment at a specified date in the future, considering various factors like interest rates and compounding periods.

Conditional Sale Contract

A contract for the sale of goods where the payment of the price, or part of it, is deferred and the full ownership of the goods does not transfer until certain conditions, typically the full payment, are met.

Rate of Return

The gain or loss on an investment over a specified time period, expressed as a percentage of the investment's initial cost.

Compounded Semi-annually

A method of calculating interest where the interest is added to the principal twice a year, resulting in interest being earned on interest.