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

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Definitions:

Economic Activity

The actions that involve the production, distribution, and consumption of goods and services in an economy.

Unemployment and Inflation

Two key indicators in economics, where unemployment measures the percentage of the workforce that is jobless, and inflation indicates the rate at which the general level of prices for goods and services is rising.

Cost/Benefit Analysis

A systematic approach to estimating the strengths and weaknesses of alternatives, used to determine options that provide the best approach to achieve benefits while preserving savings.

Expected Benefits

The anticipated advantages or positive outcomes that are predicted to result from a particular action or policy.