Washington Business Daily - Production Operation Management Knowledge Base

Production Operation Management Knowledge Base

What's the difference between Production Management and Operation Management ?

what is production operation management? what is production operation management? what are the types of production?

Objectives and elements of Production and Operation Management.? Before times of recorded history, people living on the land, a part of which is now called India, believed in three operations - creation, sustenance and dispensation. That thought process was similar to what we now call production and operation systems. Basic principles of Production Management are more of logic than of Engineering and therefore applicable to every activity people engage in.

what are the recent developments in production & operation management?

what is the better firld in mba management in production(operation),material or marketting? i am confused to choose the stream in mba second year. so tell me which is the good one. i am plastic engineer with 3.5years experiance in production

POM (Production and operation management ) - What is Facility Location and layout location of any company ? can anyone help me in telling what to write in ''layout of any company'' or if anyone can give me answer ..i Need to write 500 words about this.

what is inventory management and its importance for production operation management? economic order,quantity model order internal model,single period model etc.

authour of production and operations management in bangalore university for bbm students? i wanted production and operation management book .I forgot the authours name.Its something like sanotti or sennoti.i am not sure of the authurs name .can anyone guess and tell me.bangalore university students pleaaase help.

how can i download production and operation management book (6th edition) by Steven Nahmias?

Differentiate between Operation Management & Production Management.?

give out comparison study of western & japanese organisations as related to production & operation management?

Help please.Any ideas/suggestions on what project to write about for my Production Operation Management course? Hi, I need to choose an information system for an individual project. During the course the project will be developing an Information Systems Plan for an existing or hypothetical system. Each week I will have to develop parts of that plan. Weekly assignments include a system description, needs analysis, feasibility analysis, data analysis, process analysis, and financial analysis. When choosing a topic I will need to consider the following: 1. The system name. 2. The type of system. 3. The key system benefits. 4. Any interrelations and interdependencies with other systems. So ANY help would be GREATLY appreciated.

relate production and operation management into auditing?

Can anybody provide me Production and Operations Management Assignments.? Can anybody provide me Production and Operations Management Assignments.

diffrence between production and operation management?

differance between production and operation management?

What is the difference between operations management and production managemnet? I am looking for resources that would help me learn to run a web design/production shop. I understand project management, but I am not familiar with resource forecasting. Some questions I need to answer at work: -Can we take on project x if it takes 100 coding hours, 60 design hours, and 14 editorial considering the work we currently have on our plates -How much free time do the designers have next week -(from an editorial lead perspective) what is my team working on and how are individuals spending their time? Any templates would be very much appreciated. side question: Is this similar to how ad agencies are managed?

production and operation management? pom

dirrences between production and operation management? profession jounal

management for a textile mill.operation strategy. process management. supply chailn management.capacity planni i want to make assignmenent on production operation management for a textile mill. releted to following topics 1. Operation Management 2. Process Management 3. Supply Chain Management 4. Capacity Planning 5. Human Resource Management

job opportunity for MBA operations /productions management? Hai , I am an engineering graduate completed MBA in IGNOU in the area of specilisation of Production and operations management (operation research included). Can any one tell what are the job oppurtunuty for me?

“Production Operations Management (MGT613)”Describe the importance of each department to the other.? HiStars a manufacturing company deals in manufacturing computers. Marketing, Finance and Operations are three important departments of the Company. The functions of these departments are interrelated and can’t carry without each other in maintaining their production process. Describe the importance of each department to the other. Describe why it in necessary for an Operations Manager to have the knowledge of Marketing and Finance.

give me the definition of operations management and production management?

difference b/w operation mgt &production mgt? difference between operation management and production management

difference between production management and operations management?

what is production management? what is production management which is under operation management?

SAP course , training for electrical engineering graduate with MBA in Production and operations management? I am an electrical engineering graduate , completed MBA in productions and operations management. I need help for my career. First treat me i am zero in sap. i am intrested to study sap or / and six sigma.Which is most suitable for career? sap or six sigma. Presently i am in the area of opeartiona nad maintenenace, project feild. More over the cost of sap training is varying from 15000 to 1.25 lakhs per module. Why this much variations.? which is good. this is also for six sigma . what are all the key points to be noted down to select the institute for sap .in case of sap which module i have to select ? pl help me seeking good directions .

What activities are involves in the operations function? (Production Management)? How does operations interact with other functional areas?

Which subject is good as a specialization for MBA course? Which subject is good as a specialization for MBA course? Can u tell me If I choose as a major specialization HR and minor specialization operation then can I get good salaried job in the market ? If not so please tell me which subject I will take as major or minor specialization- Human Resource, Marketing, International Business, operation, Production & Operations Management, Insurance.

giving examples of each, outline four basic types of production processes? production operations management

how globalization competition can influence production activity? in production and operation management prespective?

I need help to start off my operations management project with the 5ps? This project requires me to study its production and operation management using the 5 p's concept, ( product, plant, process, program & people). As we have to choose one service organization to work on, I have chosen hotel. The 5ps concept is making me confusing

MBA-Operation management? Hi, I am M.Sc Electronics graduate with 5+ years exp. in production. I am located in Bangalore-India. I am interested in MBA in Operations management - Distance mode. Can anyone tell me the colleges offer this course in distance mode and the value for this? Will this boost my carrier? Please reply. Thanks in advance. And also please tell me is it worth doing MBA with IGNOU?

I want a help in the following problem? I hope you all will be all right and enjoying life as well. I have a tension and i want to its solution my final of 5 semester are going to be starting from 15 of April and I have to give three paper on consuctive days and I am not getting any idea that how to prepare my courses Please any suggestions my courses are the following Financial Management Production and Operation Management Marketing Strategy thanks a lot

Outline the challenges of implementing production and capacity planning in a business organisation? production and capacity planning under Operations management

Which one is best fit for what I want to do? I'm interested in minoring in business. If my major doesn't work out for me, which is film, I want to run a business. Possibly a cafe, restaurant, or club. Something social and with lots of people. I'm not sure yet, but in order to do that, I need to choose the right major. These are my options from this college: Accounting Economics Finance Information Systems Management Marketing Productions/Operations Management Business Administration Which one is best fit for what I want to do?

Help me Choose A Management Job? Hello Everyone, I am about to graduate with my degree in management and I am considering several options. First my acadimic situations: I am a honor student with currently a 3.79 average, vice president of students in free enterprises, president of the operations management club, founder of campus military veterans association. I served an enlistment in the US Navy. I don't have the best work experience I was in leadership roles in the navy as a E-5 but after going to school I focused on studies and have been in and out of employment (GI Bill helps with living expenses). I have been very involved in organizations and leadership. Now the type of job I want. Basically I want to manage a large group of people. I have had some experience since getting out of the Navy and I know that I do not want to work in a cubicle situation. Everyone thinks I am crazy but I have been thinking about trying for an assistant manager position with a large retailer like Wal-Mart or Target. I think I may be well suited for a supply/logistics or production operation as well but I don't know if I could find meaningful work in the current economy. Any help would really be apperciated.

operation management 5? 1. In the make-or-buy decision, one of the reasons for buying is a. to assure adequate supply d. inadequate capacity b. to obtain desired quality e. to maintain organizational talents c. to remove supplier collusion ABCDE 2. Outsourcing a. transfers traditional internal activities to outside vendors d. may include facilities, people, and equipment b. utilizes the efficiency which comes with specialization e. All of the above are true of outsourcing. c. lets the outsourcing firm focus on its critical success factors ABCDE 3. In supply chain management, ethical issues a. are particularly important because of the enormous opportunities for abuse d. may be guided by the principles and standards of the Institute for Supply Management b. may be guided by company rules and codes of conduct e. All of the above are true. c. become more complex the more global is the supply chain ABCDE 4. Which one of the following is not a supply-chain strategy? a. negotiation with many suppliers d. short-term relationships with few suppliers b. vertical integration e. virtual companies c. keiretsu ABCDE 5. Which of the following supply-chain strategies creates value by allowing suppliers to have economies of scale? a. suppliers becoming part of a company coalition. d. negotiating with many suppliers. b. vertical integration. e. developing virtual companies. c. long-term partnering with a few suppliers. ABCDE 6. Japanese manufacturers often take a middle ground between purchasing from a few suppliers and vertical integration. This approach is a. kanban. d. poka-yoke. b. keiretsu. e. kaizen. c. samurai. ABCDE 7. The “bullwhip” effect a. occurs as orders are relayed from retailers to wholesalers d. occurs because of distortions in information in the supply-chain b. results in increasing fluctuations at each step of the sequence e. all of the above. c. increases the costs associated with inventory in the supply-chain ABCDE 8. The three classic types of negotiation strategies are a. vendor evaluation, vendor development, and vendor selection d. cost-based price model, market-based price model, and competitive bidding b. Theory X, Theory Y, and Theory Z e. None of the above is correct. c. many suppliers, few suppliers, and keiretsu ABCDE 9. Which of the following is a function of inventory? a. to decouple or separate parts of the production process d. to hedge against inflation b. to decouple the firm from fluctuations in demand and provide a stock of goods that will provide a selection for customers e. All of the above are functions of inventory. c. to take advantage of quantity discounts ABCDE 10. ABC analysis is based upon the principle that a. all items in inventory must be monitored very closely d. the safety stock (in terms of volume) should be higher for A items than for C items b. there are usually a few critical items, and many items which are less critical e. an item is critical if its unit price is high c. an item is critical if its usage is high ABCDE 11. The two most basic inventory questions answered by the typical inventory model are a. timing and cost of orders d. order quantity and service level b. quantity and cost of orders e. ordering cost and carrying cost c. timing and quantity of orders ABCDE 12. The primary purpose of the basic economic order quantity model shown below is a. to calculate the reorder point, so that replenishments take place at the proper time d. to minimize the sum of setup cost and holding cost b. to minimize the sum of carrying cost and holding cost e. to calculate the optimum safety stock c. to maximize the customer service level ABCDE 13. A certain type of computer costs $1,000, and the annual holding cost is 25%. Annual demand is 10,000 units, and the order cost is $150 per order. What is the approximate economic order quantity? a. 16 d. 183 b. 70 e. 600 c. 110 ABCDE 14. For a certain item, the cost-minimizing order quantity obtained with the basic EOQ model was 200 units and the total annual inventory cost was $600. The inventory carrying cost per unit per year for this item is a. $1.50 d. $150.00 b. $2.00 e. not enough data to determine c. $3.00 ABCDE 15. An inventory decision rule states "when the inventory level goes down to 14 gearboxes, 100 gearboxes will be ordered." Which of the following statements is true? a. One hundred is the reorder point, and 14 is the order quantity. d. Fourteen is the safety stock, and 100 is the reorder point. b. Fourteen is the reorder point, and 100 is the order quantity. e. None of the above is true. c. The number 100 is a function of demand during lead time. ABCDE 16. A learning myself

any websites for research study examples of organic fertilizers? im a junior college student and we need to present a paper in production and operation management. i need help, pls...

research topic help in my mba dissertation? well i have done my mechanical engineering as bachelor's degree and now i am doing mba in innovative management but at this stage i am very much confused in selecting a better topic for my dissertation so plz can any one help i my self would like to do my project in production management or production and operation management but iam not abel to select a topic # my list on my dream projects are 1>production management 2>production and operation management 3>implementing BRP in manufacturing industry plz can any one help

Management graduates: which majors should I choose? I graduate in '11. I can choose two majors. I'm thinking about what will be best on the American, Canadian, or European job market. A. Economics... B. Strategic Management... C. Finance... D. Marketing... E. Production and Operations... F. Management Control... G. Human Resources and Organizational Behavior... H. Information Systems... I. International Business... J. Innovation and Technology Management...

Is Operations Management a good MBA specialization? Operations includes Supply Chain, Logistics, and Production. I have taken Business Calculus and Statistics for my BBA and don't want to have to retake more difficult undergraduate math classes. I know that Finance would require this of me.

I need help with this problem in Operation Management? My company produces a coil compression spring used in valves. The process characteristic of interest in testing this spring is the compression distance when a 50-lb. load compresses the spring. The average compression distance of all the springs produced has been specified at 6 cm. The output is normally distributed and the population standard deviation is 0.16 cm. For process control purposes, samples of 16 packs are taken and the sample’s average compression distance is checked against a control chart. (a) What are the 3-sigma upper and lower control limits one should use for the control chart? (b) Suppose the average compression distance has shifted to 6.1 cm, even though the overall standard deviation is still 0.16 cm. What percentage of the sample means of the springs would fall outside the 3-sigma control limits determined in part (a)? (c) Dan Keller, production manager, sets up a taskforce which determines that the design limits for the compression . Thank you .

Write a note on how information system plays an increasingly vital role in every function and department of mo? Write a note on how information system plays an increasingly vital role in every function and department of modern business like 1. Finance 2. Marketing 3. Production & Operation 4. Human Resource Management Department?

i would like to ask for ideas of profitable and marketable product that could be made by a student like me.? Our Productions and Operations Management class requires us to present products that are both profitable and marketable.I haven't made anything like this before. I would therefore like to ask for ideas regarding what type of products i would be able to make with little resources used.

What is a Dedicated Production Line in relation to manufacturing? I am taking an Operations Management course in college and I my book mentions it a lot but does not explain what it is.

does any one know what is kauzen or continous improvement? It comes under the topic production and operations management. (this a business subject)

Can Someone correct this please I really need your help? The purpose of this plant tour is to expose the students particularly the BSBA-Management Accounting III taking up Production & Operations Management with wider experiences, knowledge and skills with different techniques involved in manufacturing through actual plant visits located in Manila; to familiarize the students relative to the different activities involved in industrial operations; to enable the students understand the means by which modern industry moves its product concept toward production realities; and to promote camaraderie among BSBA-Management Accounting III students. This travelogue started when our Production & Operations Management adviser, Mrs. Fe Fernandine, told us that we would be having a plant tour in Manila, a pack of excitement embedded in our minds. Mixed emotions have crafted. She gave details about our tour and explained to why we should execute this activity. From the parents’ consultancy, all I can say, this was a good idea to have meeting between parents and faculty members. In the said meeting they had discussed the itinerary of the tour, the breakdown of expenditures, the lodging, and the bus for transportation. In our departure to Manila, the agreed time wasn’t followed. The only thing on my mind on that time was wear and tear of time and effort on the part of the faculty members and us students. When the buses had arrived, we were relieved from aches. It’s hard to wait for something that has no assurance to come. And it was 9.30 p.m., blah blah blah, the buses were not moving. I’m sick with it. At passed 10:00 p.m., we moved out. The bus we were into ran roughly because of rollercoaster rail-liked road. It’s breath taking. I don’t like the music played in our bus. It’s kind of freaking noise. So loud, some of us couldn’t sleep peacefully because of it. First stop over, second, third, so on and so forth. As I looked out to my time, it was passed 6:00 in the morning when we had arrived at Manila. Ambassadors Hotel, good name of a building, but its amenities are not as nice as its name. The rules and regulations are imposed by the hotel management, so we don’t have no reasons to blame our advisers for that matters. These are the excerpt of the hotel’s guidelines: No bringing of electrical appliances; the curfew hours (from 8pm to 4am); wearing shorts and pajamas while roaming around within the hotel is not allowed, but some of our classmates violated this rule and yet the room service crews didn’t make any action concerning it; and about the room amenities are really alarming, it’s costly, especially the unit costs of the beds, beddings, TV, closet and etc. The food was great but the attendants were not. They didn’t show some courteousness and they kept on cringing with each other while serving our food. It’s blameworthy. During our last night at the ambassadors hotel, it’s sad to say, some students showed disgracefulness towards the men room service crews. As patrons, we should also show some respect even though we were their customers and do what was only acted upon us and don’t go beyond it. February 4 at 11:00 am, we departed from the hotel. The first plant we visited was at the Lamoiyan Corporation. Honestly this was my first plant I ever visited in my entire life. It’s nice, clean and quite small. They showcased their firm through viewing some videos about the Lamoiyan Co. and their success through out the country. Our speaker told something about the corporation and it all started when the previous company of Mr. Cecilio K. Pedro, Aluminum Container Inc., manufacturer of aluminum tubes closed down. By 1985, toothpaste giants began using plastic laminated tubes. Although this caused Mr. Pedro to close his factory, he realized his old equipment could still be put to good use by forging into the Philippines toothpaste market on his own. Two years later, he reopened his factory as Lamoiyan Corporation, now known as the manufacturer of toothpaste brands’ Hapee and Kutitap. The discussion was so informative for us students, the consumers. And it was our first time to know that some household care and personal care products such as Dazz (dishwashing paste and liquid), Fresher and Gumtect are under the ownership Lamoiyan and no doubt how this corporation created a tight bound between their consumers, we Filipinos. After the visit, we’ve been to Mall of Asia for our leisure. February 5. Next, the SGS (Societe Generale de Surveillance) Philippines at Makati City, Metro Manila. Despite the fact that we were not being able to visit there, because it was randomly selected, some concern students relayed their experiences at the SGS Phils. SGS is the world’s leading inspection, verification, testing, and certification company. It’s recognized as the global benchmark for quality and integrity. It provides inspection, verification, testing and certification through some services like agricultural, mineral and etc. They said it was the highlight of the tour but we were not

I am a graduate looking for employment but i cant seem to get myself to an interview, please help? Ive studied production management at the Durban Institute of Technology, now i am doing my bachelors degree in operations management and i just want to get myself started in an industry to gain experience, i need help!

which major is better? -industrial & systems engineering -production/operation management (business) -marketing (business) like which will have most opportunites? which is more in demand? which has better pay?

Q. Can anybody help me to get free online study material of MBA Finance? My subjects are: 1. Management process & Organization 2. Marketing in action 3. Quantitative Techniques 4. Managerial Economics 5. Financial Accounting 6. Management Information Systems 7. Management Accounting 8. Organizational Structure & Behaviour 9. Business Law 10. Production & Operation Management 11. E-Business 12.Business Communication 13.Computer Aided Management 14. Managing People 15. Financial Management 16. Business Ethics 17. Total Quality Management 18. Operation Research 19. Economic Environment in India 20.Managing Human Resource in Global Environment 21.Marketing Research 22. Strategic Management 23. Indian Financial Service 24.Cost Management 25.Corporate Finance 26.Project Appraisal & Financing 27. International Financial Management 28. Risk Management 29.Business Valuation & Corporate Restructuring 30. Working Capital Management 31.Security Analysis & Portfolio Management N.B. You can mail me SAMANTA_PROSENJIT81@YAHOO.CO.IN

Which branch should i take in MBA ? From: Marketing , Finace , Production & Operations Management My qualification is B.E in Electronics & Instumentation Engineering.

Can anyone tell me the website address of a book? Book title is: Production Operations Management 6th edition by William J Stevenson I want to get the link of companion website

i have some confusion in choosing the specialisation for mba?could you please help me and do favour? whether OPERATION MANAGEMENT(PRODUCTION) have good scope in northern part? or which combination s good? "operation&marketting hr &marketting systems&marketting finance &marketting"

write a short note on quality certificates?under the heading of production and operation management.?

production and operation management? content and definition

Management/MBA Courses : i have work ex of 4 yrs in production & Projects. i want to do MBA in Marketing or op Management/MBA Courses : i have work ex of 4 yrs in production & Projects. i want to do MBA in Marketing or operations from Australia. kindly suggest me good insitutes, eligibility creteria

What one man business could you start with a 1/2 ton pickup truck and an enclosed trailer? I am looking to start my own business. I own a nice Dodge Ram Hemi 4X4 truck and an enclosed 10' trailer I could tow... I am 53, and am do not want a "JOB" I live in Wisconsin and am looking for ideas on what I could do as a one man operation. I have been in sales, production management, owned and RV business, and am pretty hands on kind of guy....!

About to Graduate,no internship,help me write a cover letter and CV,details below and what job to apply for? ? TERTIARY EDUCATION (2002) TECHNIKON SOUTH AFRICA Communications Skills I; Mathematics I; Mechanical Manufacturing Engineering I TERTIARY EDUCATION (2006) College of Production Technology, Eastern Cape, South Africa National Diploma in Operations Management/Production Technology 2006 YEAR I Managing Human Resources; Production Logistics I; Quality Techniques I; Work Engineering I; Production Technology I; Production Management Techniques I 2007 YEAR II Production Management Techniques II; Production Management Techniques III; Production Technology II; Production Technology III; Work Engineering II; Work Engineering III; 2008 YEAR III Advanced Production Techniques; Strategic Management; Production Technology IV Pursuing Aspect of Financial Management, Marketing Issues in Production, People Management Systems. OTHER TRAINING AMIC CERTIFICATE : Level 4 (2002) FORD CORE KNOWLEDGE MODULES ON: Problem Solving Tools; SPC Graphs and Charting; Variability Reduction Teams; Process Mapping; Manufacturing Concepts; Quality and Q1; Productivity; Process Orientation; Managing Relationships; Communication; Teamwork Computer Skills: Microsoft Windows, Word, Excel, Access, PowerPoint. Internet and Outlook Other Skills: Safety Training (Safety Rep); Computerized measuring and inspection;Waste Reduction Techniques WORK EXPERIENCE Name of Company:Samcor Engine Plant; Struandale/Struanway, Port Elizabeth 6000 Position held:Machine operator Duration:1/1996-12/1998 Name of Company:Ford Motor Company of Southern Africa Struandale/Struanway, Port Elizabeth 6000 Position held:Machine operator Duration:1/2002 – present

Just Graduated,employers demand experience,How do I get it in South Africa? EDUCATION (1989) Khwezi Lomso Comprehensive School, Port Elizabeth, Eastern Cape , South Africa Grade 12 (Matric) Xhosa: First Language HG=C; English: Second Language HG=C; Afrikaans: Second Language HG=E Mathematics HG=E; Physical Science HG=D; Biology HG=E TERTIARY EDUCATION (2002) TECHNIKON SOUTH AFRICA Communications Skills I; Mathematics I; Mechanical Manufacturing Engineering I TERTIARY EDUCATION (2006) College of Production Technology, Eastern Cape, South Africa National Diploma in Operations Management/Production Technology 2006 YEAR I Managing Human Resources; Production Logistics I; Quality Techniques I; Work Engineering I; Production Technology I; Production Management Techniques I 2007 YEAR II Production Management Techniques II; Production Management Techniques III; Production Technology II; Production Technology III; Work Engineering II; Work Engineering III; 2008 YEAR III Advanced Production Techniques; Strategic Management; Production Technology IV Aspect of Financial Management, Marketing Issues in Production, People Management Systems. OTHER TRAINING AMIC CERTIFICATE : Level 4 (2002) FORD CORE KNOWLEDGE MODULES ON: Problem Solving Tools; SPC Graphs and Charting; Variability Reduction Teams; Process Mapping; Manufacturing Concepts; Quality and Q1; Productivity; Process Orientation; Managing Relationships; Communication; Teamwork Computer Skills: Microsoft Windows, Word, Excel, Access, PowerPoint. Internet and Outlook Other Skills: Safety Training (Safety Rep); Computerized measuring and inspection;Waste Reduction Techniques

What is some advice for someone going into the air force as a woman? I am a 21 year old female considering going into the air force. Based on my ASVAB scores and interests I have narrowed the jobs I want to try to persue to: Airfield Management Operations Intelligence Imagery Analysis Communication Signals Intelligence Production Public Affairs Information Management Personnel I want to know what to expect when I go to the recruiter, from basic training, and just everyday military life. This will be a huge change in my life and I want to be well informed before doing anything.

If you are production manager, do you use "Quantitive Analysis programme" in solving the occured problems? I am a student of Economics and management. This academic semester I have a lection of Operations Research where we study to solve different kinds of problems using this programme. So I want to know is it popular tool in real life among production managers.

STRATEGIC MANAGEMENT? 1. During which stage of strategic management, the firm’s specific internal strengths and weaknesses are determined? a. Formulation b. Implementation c. Evaluation d. Feedback 2. The XYZ Organization has a statement that describes the needs for which the organization was created to fill and answers the basic question of why the organization exists. XYZ is most likely to have which one of the following? a. Strategy b. Vision statement c. Mission statement d. Functional tactics 3. Intuition is based on all of the following EXCEPT: a. Past experiences b. Judgments c. Uncertainties d. Feelings 4. Reasons due to which some firms do “No Strategic Planning” incorporate all of the following EXCEPT: a. Wastage of time b. Fire-fighting c. Content with success d. Privileged reward structures 5. Strategist is an individual who is involved in the strategic management process, thus may be known as: a. Member board of director b. President c. Division manager d. All of the given options 6. Internal strengths and weaknesses that can significantly benefit or harm an organization may include all of the following EXCEPT: a. Production/ operations b. Research & development c. Competitors d. Management information system 7. All of these are pitfalls an organization should avoid in strategic planning EXCEPT: a. Using plans as a standard for measuring performance b. Using strategic planning to gain control over decisions and resources c. Failing to involve key employees in all phases of planning d. Being so formal in planning that flexibility and creativity are stifled 8. Which group would be classified as a stakeholder? a. Communities b. Banks c. Suppliers d. All of these 9. What are the guidelines to decision making? a. Laws b. Rules c. Policies d. Goals 10. The analysis of industry’s major competitors’ strengths may give an insight of which one of these? a. Key threats for the firm b. Key opportunities for the firm c. Both opportunities and strengths for the firm d. None of the given options 11. For the past four years, the ABC Corporation has been planning to expand its operations in order to reach out to the world market. Essentially, the ABC Corporation desires to do what? a. Become an online business b. Become a brick-n-mortar business c. Embrace globalization d. Become a click-n-mortar business 12. Which of the following is best identified as a statement that presents “a firm's big picture statement, describing a desired end-state, general in scope, and not restrictive”? a. Corporate philosophy statement b. Company creed c. Vision statement d. Mission statement 13. Corporate social policy should be designed and articulated during which phase of strategic management? a. Implementation b. Formulation c. Evaluation d. Management 14. Ethnic balance is affected due to which of the following? a. Change in ethnic values b. Awareness of ethnic norms c. Migration of the people towards different areas d. Introduction of new laws relating to ethnicity 15. The Factors that concern the nature and direction of the economy in which a firm operates are known as: a. Technological b. Ecological c. Social d. Economic 16. HTML stands for which of the following? a. Hybrid text markup language b. Hyper text markup Language c. Hyper text manufacture language d. Highly technical markup language 17. The social factors that affect a firm involve all of the following EXCEPT: a. Per capita income b. Lifestyles of people c. Attitudes of people in the external environment d. Values and beliefs of persons outside the firm 18. When an industry relies heavily on government contracts, which of the following is important for the firm to foresee as a part of its external audit? a. Economic forces b. Political forces c. Technological forces d. Competitive forces 19. In which phase of the strategic management process, annual objectives are especially important? a. Formulation b. Evaluation c. Implementation d. Management 20. Choose the economic variable from the list. a. Attitudes toward business b. Attitudes toward product quality c. Population changes by race d. Stock market trends