Operations Managers Refer to the Development of a Plan for Converting

question 18

True/False

Operations managers refer to the development of a plan for converting a product idea into an actual product as design planning.

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Definitions:

Market-oriented

A business approach focused on understanding and meeting the needs and wants of customers in a specific market.

CEO

Chief Executive Officer; the highest-ranking executive in a company, responsible for making major corporate decisions and managing overall operations.

Mission Statement

A formal summary that defines the core purpose, objectives, and values of an organization, guiding its actions and decisions.

Strategic Fit

The alignment between an organization's resources and capabilities with its external environment and strategic objectives, essential for achieving success.