Which of the Following Is a Function of Operations Management

question 101

Multiple Choice

Which of the following is a function of operations management?

• A)building and maintaining customer relationships and supporting all the processes that underlie them
• B)improvement of the systems and processes which the organization uses to deliver its goods and services
• C)formulating a strategy for business diversification
• D)introducing a new product

Understand the retail life cycle and the wheel of retailing and how retail outlets evolve over time.

Describe the different stages of the retail life cycle and characteristics associated with each stage.

Identify various strategies retailers employ in their mix to attract and retain customers.

Comprehend the impact of location and layout in the context of retail strategy.

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Definitions:

Business Activities

The various actions and tasks companies undertake, such as sales, marketing, manufacturing, and management, to operate and achieve their objectives.

Long-Term Strategies

Approaches or plans of action intended to achieve goals and objectives over an extended period, focusing on future outcomes and sustainability.

Communication Methods

Communication methods include various ways to convey messages between people or machines, such as verbal, non-verbal, written, and digital forms.

In-Person

Refers to interactions or events that take place face-to-face rather than through digital or remote means, emphasizing the importance of physical presence.