The Foundation of Operations Management Is

question 63

Multiple Choice

The foundation of operations management is

• A) acquiring inputs.
• B) delivering the output.
• C) planning.
• D) determining the customer.

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Definitions:

Qualitative Characteristics

The attributes that make financial information useful to users, including relevance and faithful representation.

Quantitative Characteristics

Measurable attributes that can be quantified and analyzed numerically, often used in statistical and financial analysis.

Decision-making Process

The systematic approach of identifying and evaluating choices to come to a conclusion or course of action.

Tactical Decision

Short-term decisions that are more specific and detailed than strategic decisions, focusing on the management of daily operations rather than long-term goals.