Which of the Following Statements Are Reasons Why Operations Management

question 19

Multiple Choice

Which of the following statements are reasons why operations management is important?

• A)Efficient and productive operations drive the economic well-being of nations.
• B)Operations management is responsible for much of the value created by organizations.
• C)Operations management is a key source of competitive differentiation among firms.
• D)All of these are reasons why operations management is important.

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Definitions:

Service Companies

Businesses primarily engaged in providing services rather than goods to customers.

Location Decision

The process of determining the most appropriate geographical location for a company's operations, services, or manufacturing facilities.

Decision Areas

The key aspects or fields within an organization or endeavor that require choices to be made, shaping strategy and operations.

Firm's Mission

A statement that defines the core purpose, ethos, and direction of a company, often guiding its strategies, decisions, and operations.