Current Challenges in Operations Management Include All of the Following

question 8

Multiple Choice

Current challenges in operations management include all of the following EXCEPT:

• A) lean operations.
• B) rapid product development.
• C) mass customization.
• D) sustainability.
• E) increased communication cost.

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Definitions:

Foreign Countries

Nations other than one's own, especially when considered as the context for international trade, diplomacy, or cultural exchange.

Purchasing-power Parity

A theory that states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.

Nominal Exchange Rate

The rate at which one country's currency can be exchanged for another country's currency without adjusting for inflation rates.

Real Exchange Rate

The rate at which goods and services of one country can be exchanged for those of another, adjusting for price level differences.