While There Is Overlap Between Operations Management and Supply Chain

question 32

Multiple Choice

While there is overlap between operations management and supply chain management, the two are different in that:

• A)Operations management focuses on production, supply chain management focuses on supply and logistics.
• B)Operations management focuses on tangible goods, supply chain management focuses on services.
• C)Operations management focuses on processes, supply chain management focuses on relationships and flows.
• D)All of these. The key distinction is that supply chain management focuses on relationships and flows, whereas operations management focuses on processes.

Appreciate the importance of income statements in evaluating business performance.

Differentiate between cost-led pricing and value-based pricing strategies.

Understand market-driven pricing strategies and their importance in competitive markets.

Understand the concept of race as a social construct rather than a fixed biological reality.

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Definitions:

Conditioned Stimulus

A previously neutral signal that, through association with an unconditioned stimulus, comes to elicit a conditioned response as part of classical conditioning.

Cue Deflation Effect

When the extinction of a response to one cue leads to an increased reaction to the other conditioned stimulus

Salient Conditioned Stimulus

A stimulus that stands out and is easily noticeable making it more likely to be associated with an unconditioned stimulus in the process of learning.