Contemporary Operations Management Planning Is an Interfirm Process

question 242

Multiple Choice

Contemporary operations management planning is an interfirm process. This means:

• A) the process must integrate all of the functional units of a firm's operation, including production, marketing, finance, and logistics.
• B) the process is a confidential plan that is not shared with suppliers or customers. It stays within the firm.
• C) it is a process where several firms work closely together to produce goods and services, and anticipate a changing environment.
• D) it is a process that seeks stability by adhering to top-down management.

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Definitions:

Natural Endowment

Resources found in nature that have economic value or utility, such as minerals, forests, and water.

Merchandise Trade Deficit

A situation where a country's imports of goods exceed its exports of goods, leading to a negative balance of trade.

Record

A document or electronic file that systematically captures and preserves information or data for future reference or analysis.

Japan

An island country located in East Asia, known for its rich culture, technological advancements, and historical significance.