Our Shop

Solution Manual for Principles of Operations Management 10th Edition by Heizer

£25.00

By: Heizer

Edition: 10th Edition

Format: Downloadable ZIP Fille

Resource Type: Solution Manual

Duration: Unlimited downloads

Delivery: Instant Download

Solution Manual for Principles of Operations Management 10th Edition by Heizer

C H A P T E R 1
Operations and Productivity
DISCUSSION QUESTIONS
1. The text suggests four reasons to study OM. We want to understand (1) how people organize themselves for productive enterprise,
(2) how goods and services are produced, (3) what operations
managers do, and (4) this costly part of our economy and most
enterprises.
2. Possible responses include: Adam Smith (work specialization/division of labor), Charles Babbage (work specialization/division
of labor), Frederick W. Taylor (scientific management), Walter Shewart (statistical sampling and quality control), Henry Ford (moving
assembly line), Charles Sorensen (moving assembly line), Frank and
Lillian Gilbreth (motion study), Eli Whitney (standardization).
3. See references in the answer to question 2.
4. The actual charts will differ, depending on the specific organization the student chooses to describe. The important thing is
for students to recognize that all organizations require, to a greater or lesser extent, (a) the three primary functions of operations,
finance/accounting, and marketing; and (b) that the emphasis or
detailed breakdown of these functions is dependent on the specific competitive strategy employed by the firm.
5. The answer to this question may be similar to that for question 4.
Here, however, the student should be encouraged to utilize a more
detailed knowledge of a past employer and indicate on the chart
additional information such as the number of persons employed to
perform the various functions and, perhaps, the position of the
functional areas within the overall organization hierarchy.
6. The basic functions of a firm are marketing, accounting/
finance, and operations. An interesting class discussion: “Do all
firms/organizations (private, government, not-for-profit) perform
these three functions?” The authors’ hypothesis is yes, they do.
7. The 10 decisions of operations management are product design, quality, process, location, layout, human resources, supplychain management, inventory, scheduling (aggregate and short
term), maintenance. We find this structure an excellent way to
help students organize and learn the material.
8. Four areas that are important to improving labor productivity
are: (1) basic education (basic reading and math skills), (2) diet of
the labor force, (3) social overhead that makes labor available
(water, sanitation, transportation, etc.), and (4) maintaining and
expanding the skills necessary for changing technology and
knowledge, as well as for teamwork and motivation.
9. Productivity is harder to measure when the task becomes
more intellectual. A knowledge society implies that work is more
intellectual and therefore harder to measure. Because the U.S. (and
many other countries) are increasingly “knowledge” societies,
productivity is harder to measure. Using labor hours as a measure of productivity for a postindustrial society vs. an industrial or
agriculture society is very different. For example, decades spent
developing a marvelous new drug or winning a very difficult legal
case on intellectual property rights may be significant for postindustrial societies, but not show much in the way of productivity
improvement measured in labor hours.
10. Productivity is difficult to measure because precise units of
measure may be lacking, quality may not be consistent, and
exogenous variables may change.
11. Mass customization is the flexibility to produce in order to
meet specific customer demands, without sacrificing the low
cost of a product oriented process. Rapid product development is
a source of competitive advantage. Both rely on agility within
the organization.
12. Labor productivity in the service sector is hard to improve
because (1) many services are labor intensive and (2) they are
individually (personally) processed (the customer is paying for
that service—the hair cut), (3) it may be an intellectual task performed by professionals, (4) it is often difficult to mechanize and
automate, and (5) often difficult to evaluate for quality.
13. Taco Bell designed meals that were easy to prepare; with
actual cooking and food preparation done elsewhere; automation
to save preparation time; reduced floor space; manager training to
increase span of control.

ETHICAL DILEMMA

With most of the ethical dilemmas in the text, the instructor
should generate plenty of discussion with this dilemma. The
authors are hesitant to endorse a particular correct answer. And
students may well be on both side of this dilemma.
Many students will be inclined to accept the child labor laws
of their home country. For instance, Americans accept teenagers
working. But Germans (and others) are more likely to expect
teenagers to be home studying or in an apprentice program; they
frown upon teenagers working. Students raised in more affluent
environments may not understand children working. However,
those who had to scrape by in their youth or had parents that did
may be more sympathetic to 10-year-olds working.
From an economic and self-preservation perspective many
10-year-olds do work and need to work. There are still a lot of
poor people in the world. Such a decision may endorse the moral
philosophy perspective defined as a Utilitarianism decision.
A utilitarianism decision defines acceptable actions as those that
maximize total utility, i.e., the greatest good for the greatest
number of people.

2 CHAPTER 1 OP E R A T I O N S A N D P R O D U C T I V I T Y

6.6 (c) Increase in productivity = = 33.0% 20
From a U.S. corporate management perspective, companies
cannot tolerate the publicity that goes with hiring 10-year-olds.
These companies need to have standards that prohibit such
actions by their subcontractors. The moral philosophy perspective might call this the virtue ethics position—the decision
that a mature person with a good moral character would deem
correct.

END-OF-CHAPTER PROBLEMS

120 boxes (a) = 3.0 boxes/hour 40 hours
1.1
125 boxes (b) = 3.125 boxes/hour 40 hours
(c) Change in productivity = 0.125 boxes/hour
(d) 0.125 boxes Percentage change = = 4.166%
3.0
1.2 (a) Labor productivity is 160 valves/80 hours = 2 valves
per hour.
(b) New labor productivity = 180 valves / 80 hours = 2.25
valves per hour
(c) Percentage change in productivity = .25 valves / 2
valves = 12.5%
1.3
So 57,600 L = = 200
(160)(12)(0.15) laborers employed
1.4 Bureau of Labor Statistics (stats.bls.gov) is probably as
good a place to start as any. Results will vary for each year, but
overall data for the economy will range from .9% to 4.8% and
mfg. could be as high as 5% and services between 1% and 2%.
The data will vary even more for months or quarters. The data are
frequently revised, often substantially.
Units produced 100 pkgs (a) = = 20 pkgs/hour Input 5
1.5
133 pkgs (b) = 26.6 pkgs per hour 5
[(1,000/4,850) (1,000/4,510)]
(1,000/4,850)
− =
0.206–0.222 –0.016 = = 0.078 fewer resources 0.206 0.206
⇒ 7.8% improvement*
* with rounding to 3 decimal places.
Output Productivity = Input

Quick Comparison

SettingsSolution Manual for Principles of Operations Management 10th Edition by Heizer removeSolution Manual for Managing Operations Across the Supply Chain 4th Edition by Swink removeSolution Manual for Principles of Supply Chain Management 5th Edition by Wisner removeSolution Manual for Concepts of Database Management 9th Edition by Starks removeSolution Manual for Operations Management 2nd Edition by Cachon removeTest Bank for Fundamentals of Financial Management 15th Edition by Brigham remove
Image
SKU
Rating
Price

£25.00

£21.00

£17.00

£25.00

£21.00

£17.00

Stock
Availability
Add to cart

DescriptionBy: Heizer Edition: 10th Edition Format: Downloadable ZIP Fille Resource Type: Solution Manual Duration: Unlimited downloads Delivery: Instant DownloadBy: Swink Edition: 4th Edition Format: Downloadable ZIP Fille Resource Type: solution manual Duration: Unlimited downloads Delivery: Instant DownloadBy: Wisner Edition: 5th Edition Format: Downloadable ZIP Fille Resource Type: Solution manual Duration: Unlimited downloads Delivery: Instant DownloadBy: Starks Edition: 9th Edition Format: Downloadable ZIP Fille Resource Type: Solution Manual Duration: Unlimited downloads Delivery: Instant DownloadBy: Cachon Edition: 2nd Edition Format: Downloadable ZIP Fille Resource Type: Solution Manual Duration: Unlimited downloads Delivery: Instant DownloadBy: Brigham Edition: 15th Edition Format: Downloadable ZIP Fille Resource Type: Test bank Duration: Unlimited downloads Delivery: Instant Download
Content

Solution Manual for Principles of Operations Management 10th Edition by Heizer

C H A P T E R 1 Operations and Productivity DISCUSSION QUESTIONS 1. The text suggests four reasons to study OM. We want to understand (1) how people organize themselves for productive enterprise, (2) how goods and services are produced, (3) what operations managers do, and (4) this costly part of our economy and most enterprises. 2. Possible responses include: Adam Smith (work specialization/division of labor), Charles Babbage (work specialization/division of labor), Frederick W. Taylor (scientific management), Walter Shewart (statistical sampling and quality control), Henry Ford (moving assembly line), Charles Sorensen (moving assembly line), Frank and Lillian Gilbreth (motion study), Eli Whitney (standardization). 3. See references in the answer to question 2. 4. The actual charts will differ, depending on the specific organization the student chooses to describe. The important thing is for students to recognize that all organizations require, to a greater or lesser extent, (a) the three primary functions of operations, finance/accounting, and marketing; and (b) that the emphasis or detailed breakdown of these functions is dependent on the specific competitive strategy employed by the firm. 5. The answer to this question may be similar to that for question 4. Here, however, the student should be encouraged to utilize a more detailed knowledge of a past employer and indicate on the chart additional information such as the number of persons employed to perform the various functions and, perhaps, the position of the functional areas within the overall organization hierarchy. 6. The basic functions of a firm are marketing, accounting/ finance, and operations. An interesting class discussion: “Do all firms/organizations (private, government, not-for-profit) perform these three functions?” The authors’ hypothesis is yes, they do. 7. The 10 decisions of operations management are product design, quality, process, location, layout, human resources, supplychain management, inventory, scheduling (aggregate and short term), maintenance. We find this structure an excellent way to help students organize and learn the material. 8. Four areas that are important to improving labor productivity are: (1) basic education (basic reading and math skills), (2) diet of the labor force, (3) social overhead that makes labor available (water, sanitation, transportation, etc.), and (4) maintaining and expanding the skills necessary for changing technology and knowledge, as well as for teamwork and motivation. 9. Productivity is harder to measure when the task becomes more intellectual. A knowledge society implies that work is more intellectual and therefore harder to measure. Because the U.S. (and many other countries) are increasingly “knowledge” societies, productivity is harder to measure. Using labor hours as a measure of productivity for a postindustrial society vs. an industrial or agriculture society is very different. For example, decades spent developing a marvelous new drug or winning a very difficult legal case on intellectual property rights may be significant for postindustrial societies, but not show much in the way of productivity improvement measured in labor hours. 10. Productivity is difficult to measure because precise units of measure may be lacking, quality may not be consistent, and exogenous variables may change. 11. Mass customization is the flexibility to produce in order to meet specific customer demands, without sacrificing the low cost of a product oriented process. Rapid product development is a source of competitive advantage. Both rely on agility within the organization. 12. Labor productivity in the service sector is hard to improve because (1) many services are labor intensive and (2) they are individually (personally) processed (the customer is paying for that service—the hair cut), (3) it may be an intellectual task performed by professionals, (4) it is often difficult to mechanize and automate, and (5) often difficult to evaluate for quality. 13. Taco Bell designed meals that were easy to prepare; with actual cooking and food preparation done elsewhere; automation to save preparation time; reduced floor space; manager training to increase span of control.
ETHICAL DILEMMA
With most of the ethical dilemmas in the text, the instructor should generate plenty of discussion with this dilemma. The authors are hesitant to endorse a particular correct answer. And students may well be on both side of this dilemma. Many students will be inclined to accept the child labor laws of their home country. For instance, Americans accept teenagers working. But Germans (and others) are more likely to expect teenagers to be home studying or in an apprentice program; they frown upon teenagers working. Students raised in more affluent environments may not understand children working. However, those who had to scrape by in their youth or had parents that did may be more sympathetic to 10-year-olds working. From an economic and self-preservation perspective many 10-year-olds do work and need to work. There are still a lot of poor people in the world. Such a decision may endorse the moral philosophy perspective defined as a Utilitarianism decision. A utilitarianism decision defines acceptable actions as those that maximize total utility, i.e., the greatest good for the greatest number of people.

2 CHAPTER 1 OP E R A T I O N S A N D P R O D U C T I V I T Y

6.6 (c) Increase in productivity = = 33.0% 20 From a U.S. corporate management perspective, companies cannot tolerate the publicity that goes with hiring 10-year-olds. These companies need to have standards that prohibit such actions by their subcontractors. The moral philosophy perspective might call this the virtue ethics position—the decision that a mature person with a good moral character would deem correct. END-OF-CHAPTER PROBLEMS 120 boxes (a) = 3.0 boxes/hour 40 hours 1.1 125 boxes (b) = 3.125 boxes/hour 40 hours (c) Change in productivity = 0.125 boxes/hour (d) 0.125 boxes Percentage change = = 4.166% 3.0 1.2 (a) Labor productivity is 160 valves/80 hours = 2 valves per hour. (b) New labor productivity = 180 valves / 80 hours = 2.25 valves per hour (c) Percentage change in productivity = .25 valves / 2 valves = 12.5% 1.3 So 57,600 L = = 200 (160)(12)(0.15) laborers employed 1.4 Bureau of Labor Statistics (stats.bls.gov) is probably as good a place to start as any. Results will vary for each year, but overall data for the economy will range from .9% to 4.8% and mfg. could be as high as 5% and services between 1% and 2%. The data will vary even more for months or quarters. The data are frequently revised, often substantially. Units produced 100 pkgs (a) = = 20 pkgs/hour Input 5 1.5 133 pkgs (b) = 26.6 pkgs per hour 5 [(1,000/4,850) (1,000/4,510)] (1,000/4,850) − = 0.206–0.222 –0.016 = = 0.078 fewer resources 0.206 0.206 ⇒ 7.8% improvement* * with rounding to 3 decimal places. Output Productivity = Input

Solution Manual for Managing Operations Across the Supply Chain 4th Edition by Swink

Chapter 1 Introduction to Managing Operations Across the Supply Chain  Suggested Answers to Discussion Questions
  1. Review Fortune magazine’s “Most Admired” American companies for 1959, 1979, 1999, and the most current year. (The issue normally appears in August each year.) Which companies have remained on the top throughout this period? Which ones have disappeared? What do you think led to the survival or demise of these companies?
The companies that have stayed on top throughout this period are Southwest, Berkshire Hathaway, and Proctor and Gamble. UPS, Coca Cola, and GE were some of the companies that disappeared. The companies that were able to stay at the top of the list were the ones able to deal with major changes in the industry easily. In order to stay afloat in harder times, they were managed by people who understood operations management; they had a winning value proposition that was continually revitalized by the introduction of new products and services.  The companies that did not stay at the top unable to make the necessary changes so easily; perhaps their operations management was not at the caliber of the other companies able to stay at the top of the list.
  1. Select two products that you have recently purchased; one should be a service and the other a manufactured good. Think about the process that you used to make the decision to purchase each item. What product characteristics were most important to you? What operational activities determine these characteristics?
  Student answers to this question will vary. The following is an example from one student: “Two products I have recently purchased were a sweater and a haircut. The process I used to make the decision to purchase the sweater was trying on the sweater in different colors, contemplating the purchase at home, waiting for sweater to go on sale, and then purchasing it. The process I used to make the decision about where to get my haircut included researching pictures of how I wanted my hair to look, asking advice about where to go from friends, researching online for reviews about stylists, and getting my haircut by that stylist. I wanted to make sure both products were going to satisfy me enough so that I wouldn’t regret either purchase. I had to be comfortable with both my sweater and my new hair style, luckily I was! I also wanted both my sweater and my hair style to last for a while to make them worth the cost. The operational activities that determine these characteristics are the manufacturing, shipping and selling the sweater in stores. If the sweater was poorly made and didn’t fit correctly, I would not have purchased it. If it was not available (on the shelf) I could not have purchased it.  The operational activities that determine the characteristics of my hairstyle are the stylist arriving to work on time for my appointment, washing, cutting and blow drying my hair in a way that I was expecting (having sufficient capacity so that I did not have to wait too long). Since my hair was cut and styled the way I requested, I will be returning to that hair stylist.
  1. What are the primary operations management decisions in each of the following corporations?

Solution Manual for Principles of Supply Chain Management 5th Edition by Wisner

PRINCIPLES OF SUPPLY CHAIN MANAGEMENT: A BALANCED APPROACH, 5thEd. Answers to Questions/Problems Chapter One

Discussion Questions

  1. Define the term supply chain management in your own words, and list its most important activities.
Ans.: The Supply-Chain Council’s definition of supply chain management is“[m]anaging supply and demand, sourcing raw materials and parts, manufacturing and assembly, warehousing and inventory tracking, order entry and order management, distribution across all channels, and delivery to the customer. These are also the most important activities, however integration of key supply chain processes might also be included in there.
  1. Can a small business like a local sandwich or bicycle shop benefit from practicing supply chain management?What would they most likely concentrate on?
Ans.: Yes, any organization can implement at least some of the important concepts. A good place to start is the rationalization or reduction of the supply base. Small businesses might also want to concentrate on customers as a starting point.
  1. Describe and draw a supply chain for a bicycle repair shop and list the important supply chain members.
Ans.: This will vary from student to student, but should include for instance parts suppliers, bicycle suppliers and other suppliers (ie, helmet suppliers) and services (ie, repair services) as 1st-tier suppliers and bicycle owners as 1st-tier customers.
  1. Can a bicycle repair shop have more than one supply chain? Explain.
Ans.: Yes. Every repair item the firm stocks has potentially a different supply chain associated with it.
  1. What roles do “collaboration” and “trust” play in the practice of supply chain management?
Ans.: This is essential for process integration. Sharing information and determining joint strategies is part of the integration/collaboration process, and to do this, trust must be present between the customer/focal firm/supplier.
  1. Why don’t firms just become more vertically integrated (eg. buy out suppliers and customers), instead of trying to manage their supply chains?
Ans.: This could cause a loss of focus and keep managers/employees from doing their core competencies, resulting in loss of performance.
  1. What types of organizations would benefit the most from practicing supply chain management? What sorts of improvements could be expected?
 Ans.: Firms with many suppliers, many complex products, large inventories and many customers (in other words, firms with many supply chains). Gains would be lower purchasing costs, lower carrying costs, better product quality, and better customer service.
  1. What are the benefits of supply chain management?
Ans.: Reduction of the bullwhip effect, better buyer/supplier relationships, better quality, lower costs, better customer service, higher demand, more profits.
  1. Can nonprofit, educational, or government organizations benefit from supply chain management? How?
Ans.: Yes. All services and organizations can benefit in terms of at least better customer service, better inventory management, and cheaper purchase prices.

Solution Manual for Concepts of Database Management 9th Edition by Starks

Chapter One: Introduction to Database Management

A Guide to this Instructor’s Manual:

We have designed this Instructor’s Manual to supplement and enhance your teaching experience through classroom activities and a cohesive chapter summary. This document is organized chronologically, using the same heading in red that you see in the textbook. Under each heading, you will find (in order): Lecture Notes that summarize the section, Figures and Boxes found in the section, if any, Teacher Tips, Classroom Activities, and Lab Activities. Pay special attention to TeacherTips and activities geared towards quizzing your students, enhancing their critical thinking skills, and encouraging experimentation within the software. In addition to this Instructor’s Manual, our Instructor’s Resources also include PowerPoint Presentations, Test Banks, Solutions to Exercises, and other supplements to aid in your teaching experience. You can access Instructor Resources via the Web at login.cengage.com. Table of Contents
Chapter Objectives 1
1: BITS Company Background 1
4: Database Solution 2
10: Database Management Systems 3
13: Advantages of Database Processing 4
15: Disadvantages of Database Processing 5
15: BigData 5
16: Introduction to the colonial Adventure ToursDatabase Case 6
21: Introduction to the Sports Physical Therapy Database Case 6
End of Chapter Material 7
Glossary of Key Terms 7

Chapter Objectives

The learning objectives for chapter OneCare:  
  • Introduce Burk IT Solutions (BITS), the company that is used as the basis for many of the examples throughout the text
  • Introduce basic database terminology
  • Describe database management systems (DBMSs)
  • Explain the advantages and disadvantages of database processing
  • Introduce Colonial Adventure Tours, the company that is used in a case that appears at the end of each chapter
  • Introduce Sports Physical Therapy, the company that is used in another case that appears at the end of each chapter
1: BITS Company Background LECTURE NOTES
  • Describe the BITS company
  • Use Figure 1-1 to illustrate the problems associated with using spreadsheets to maintain this data
    • Redundancy
    • Difficulty accessing related data
    • Limited security features
    • Multiple updates
    • Size limitations
  • Define redundancy
    • Duplication of data or the storing of the same data in more than one place
  • Use the embedded Q & A on page 2 to discuss the problems redundancy causes
    • Wastes space
    • Makes changes more cumbersome
    • Can lead to inconsistencies
  • Use Figure 1-2 to introduce the type of data that BITS must be able to store and retrieve
    • Point out that the amounts in the Total column in Figure 1-2 are not stored in the database but are calculated
FIGURES: 1-1, 1-2 TEACHER TIPS Students will work with BITS in every chapter. They should become familiar with this fictitious company and the type of data it needs to maintain. The same type of data needs to be stored by other consulting companies or service providers. If you want to personalize the database, you have students add their name as a customer or you can have them rename the database using their own name rather than BITS. CLASSROOM ACTIVITIES
  1. Group Activities: Place students in groups and distribute order forms from local companies and/or retail stores. Ask the groups to determine the data the company must store and the data that is calculated.
  2. Class Discussion: Ask students what other types of data a service providers such as BITSwould need to maintain.
  3. Critical Thinking: BITS needs to maintain data on the consultants and what each one specializes in. Should BITS store this data in a spreadsheet? Why or why not?
4: Database Solution LECTURE NOTES
  • Define entity
    • Person, place, object, event, or idea for which you want to store and process data
  • Define attribute
    • Characteristic or property of an entity
    • Also called a field or column in many database systems
  • Use Figure 1-3 to point out the Consultant and Client entity and the attributes for each entity
  • Define relationship
    • An association between entities
  • Define one-to-many relationship
    • Each rep is associated with many customers, but each customer is associated with only one rep
  • Use Figure 1-4 to explain the one-to-many relationship between consultants and clients
  • Define data file
    • A file used to store data, such as a spreadsheet or word-processed document
  • Define database
    • A structure that can store information about multiple types of entities, the attributes of those entities, and the relationships among the entities
  • Point out the differences between a data file and a database
  • Use Figure 1-5 to review the tables (entities) that make up the BITS database
    • Consultant, Client, Tasks, OrderLine, Work Orders
  • Use Figure 1-6 to illustrate the problems with storing orders in the alternative table structure
  • Review the embedded Q & As on pages 8 through 9
  • Define entity-relationship (E-R)diagram
    • A visual way to represent a database
  • Use Figure 1-7 to illustrate an E-R diagram and review the entities, attributes, and relationships in the BITS database
FIGURES: 1-3, 1-4, 1-5, 1-6, 1-7 TEACHER TIPS Database concepts such as entity, attribute, and relationship are often difficult for students to grasp. Use examples that students can relate to, for example, a school database or a database maintained by the state department of public safety (driver’s licenses). A good analogy to use is an employment application form. The items that we complete on the form are attributes, and the completed application (entity example) describes the person who completed it. Figure 1-5 lists the five tables that make up the BITS database. Each table represents an entity. The data in the tables are related through common fields. It is these relationships that allow the user to access data from more than one table and produce reports, queries, and forms. Encourage students to use the embedded Q & As to test their understanding of the concepts as well as the design of the BITS database.  

Solution Manual for Operations Management 2nd Edition by Cachon

Chapter 1 – Teaching Plan Introduction to operations management Specific Learning objectives LO1-1: Identify the drivers of customer utility LO1-2: Explaininefficiencies and determine if a firm is on the efficient frontier LO1-3: Explain the three system inhibitors LO1-4: Explain what work in operations management looks like LO1-5: Articulate the key operational decisions a firm needs to make to match supply with demand   What Students Learn in this Chapter This chapter is the beginning of the book, and most likely the corresponding session is the first session in the student’s first exposure to operations management. The goal of the session is for students to gain some appreciation of the type of operational decisions that a business has to make and to provide them some idea of what it will take to make these decisions well. To achieve this goal, we like to start with a perspective the student is familiar with. In most undergraduate settings, students will have little or no work experience. So, rather than starting with the perspective of the business, we find it more engaging to start with the perspective of the consumer. Faculty and students alike, all of us have been in the role of the customer in consumer-facing industries, such as restaurants, travel, healthcare, entertainment, or education. We suggest using the example of restaurants. Even if students have work experience, a common experience/example is helpful for discussion and all of us have been in some form of a restaurant. The book chapter takes the example of “where do you want to go for lunch today?” to establish the different dimensions driving customer utility. Once we understand what consumers value, we can start talking about the dimensions of operational performance. Students will see that there are multiple dimensions of operational performance. Some operations focus on responsiveness, some on quality, some on efficiency, etc. Unlike the case of finance, where we all agree that more profits are better than fewer profits, students will appreciate that there exist trade-offs among the operational dimensions of performance. Subway is operationally not better or worse than a five-star restaurant. It simply has a different strategy. The presence of trade-off then sets up the efficient frontier framework. Some firms are better at multiple things, others are worse. Typically, students have services that they like a lot (e.g. Starbucks or Chipotle) and oftentimes, those are services that are also financially successful. This allows for a discussion of what makes these services successful, which allows the faculty to introduce concepts such as waste, variability, and inflexibility.   Relationship to other Chapters This chapter is related to: Since this is the first chapter, it obviously does not build on other chapters. This chapter is the foundation for: The idea of the efficient frontier and the three system inhibitors is coming up throughout the book/the course. Introducing them on the first day of class is helpful, though not required.   Proposed Time Line Any time line will depend on the context of teaching, including the class size, the choice of exercise or case, the level of prior knowledge of the students, and the teaching style of the faculty. We have used the following time line for various audiences. This includes academic settings (business students), but also professional development settings with participants that learnt this material not to prepare for a test but to advance their careers. 0:00        Opening exercise (Mortgage exercise) 0:20        Dimensions of performance 0:30        The efficient frontier/Pareto dominance 0:40        The three system inhibitors 1:00        Course overview and course logistics   Preparation before class Set up exercise if you plan to use one. If mortgage exercise is used, send out an email to students ahead of time, announcing that (a) on time arrival is critical for the exercise (b) they should not touch any paper on the tables. If you plan to discuss the restaurant example, it might be helpful to do a quick Google news search on the big restaurant chains to have some current updates/examples.

Test Bank for Fundamentals of Financial Management 15th Edition by Brigham

Note that there is an overlap between the T/F and multiple-choice questions, as some of the T/F statements are used in multiple-choice questions.   Multiple Choice: True/False  
 
1. In most corporations, the CFO ranks under the CEO.
a. True
b. False
 
ANSWER:   True
POINTS:   1
DIFFICULTY:   EASY
REFERENCES:   1-1 What Is Finance?
QUESTION TYPE:   True / False
HAS VARIABLES:   False
PREFACE NAME:   T/F
LEARNING OBJECTIVES:   FOFM.BRIG.17.01.01 - What Is Finance?
NATIONAL STANDARDS:   United States - BUSPROG.FOFM.BRIG.17.06 - Reflective thinking
STATE STANDARDS:   United States - OH - DISC.FOFM.BRIG.17.06 - Finance function
LOCAL STANDARDS:   United States - OH - Default City - Students will understand and be - Students will understand and be able to articulate the goals of the firm, the role of the finance function in the enterprise's organization, and as an analyst using public information.
TOPICS:   Role of finance
KEYWORDS:   Bloom's Knowledge
DATE CREATED:   9/21/2017 3:15 PM
DATE MODIFIED:   9/21/2017 3:15 PM
 
2. The Chairman of the Board must also be the CEO.
a. True
b. False
 
ANSWER:   False
POINTS:   1
DIFFICULTY:   EASY
REFERENCES:   1-1 What Is Finance?
QUESTION TYPE:   True / False
HAS VARIABLES:   False
LEARNING OBJECTIVES:   FOFM.BRIG.17.01.01 - What Is Finance?
NATIONAL STANDARDS:   United States - BUSPROG.FOFM.BRIG.17.06 - Reflective thinking
STATE STANDARDS:   United States - OH - DISC.FOFM.BRIG.17.06 - Finance function
LOCAL STANDARDS:   United States - OH - Default City - Students will understand and be - Students will understand and be able to articulate the goals of the firm, the role of the finance function in the enterprise's organization, and as an analyst using public information.
TOPICS:   Role of finance
KEYWORDS:   Bloom's: Knowledge
DATE CREATED:   9/21/2017 3:15 PM
DATE MODIFIED:   9/21/2017 3:15 PM
 
Weight
DimensionsN/AN/AN/AN/AN/AN/A
Additional information
Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Additional information
  • Attributes
  • Custom attributes
  • Custom fields
Click outside to hide the comparison bar
Compare