Managerial Traits Include

question 5

Multiple Choice

Managerial traits include

• A)creativity
• B)skills in several functional areas
• C)innovativeness
• D)risk taking

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Definitions:

Chase Strategy

A demand-driven production strategy where production rates are adjusted to match demand to minimize inventory costs.

Flexibility Strategy

An approach to operations and decision-making that emphasizes the ability to adapt to changes, respond to unpredicted demands, or capitalize on new opportunities.

Level Strategy

A business approach that maintains a steady production rate and workforce level, even during fluctuating demand periods.

Aggregate Planning

A methodology in operations management aimed at determining optimal production, workforce levels, and inventory levels, to meet forecasting demand over a medium-range period.