operations management

• What does R&D stand for?

  Research and Development
• Why is R&D essential for businesses today?

  It helps them compete in a dynamic marketplace
• What can businesses achieve by investing in R&D?

  Development of new products for competitive edge
• How do patents benefit businesses that invest in R&D?

  They prevent competition for a period of time
• How does R&D impact a business's image?

  It creates a positive perception among consumers
• How can new machinery from R&D improve working environments?

  By cutting costs and raising productivity
• What can motivate employees in relation to R&D?

  Higher order needs satisfaction
• What is the role of research in R&D?

  Inquiry into and discovery of new ideas
• What is pure research?

  Research to find out how or why
• What is laboratory research?

  Testing new pharmaceutical compounds on animals
• What is the purpose of evaluating existing products?

  To identify and resolve problems
• What is brainstorming in the context of research?

  Discussion groups generating novel ideas
• What is product innovation?

  Bringing a new idea to the marketplace
• What is process innovation?

  Bringing a new idea to the workplace
• Why do governments encourage innovation?

  It helps grow the economy and create jobs
• What is development in the context of R&D?

  Turning ideas into commercially viable products
• Why is reducing development time important?

  Shorter product life cycles are now the norm
• What is production control?

  Ensuring standards and processes are used
• What does monitoring costs involve?

  Using budgeting and variance analysis
• How can operations be controlled?

  Using critical path analysis
• What is the role of feedback methods in production control?

  Monitoring customer satisfaction and issues
• Why is the production function important?

  It ensures consistent quality and cleanliness
• What is vital for producing the correct amount of products?

  Meeting customer demand at the right time
• What is one argument against the production department being the most important?

  Other departments also play crucial roles
• What role does marketing play in a business?

  Promotion and raising awareness of products
• How does human resources contribute to a business?

  By training and recruiting skilled employees
• What is the role of distribution in a business?

  Ensuring products reach the right place and time
• How does finance and accounting support a business?

  By managing money efficiently and liquidity
• What is the role of R&D in product development?

  Ensuring the product portfolio meets customer needs
• What is TQM?

  A culture of quality affecting all employees
• What is the purpose of quality chains?

  To view every department as a customer
• What is a company-wide quality policy?

  Starts at the top and spreads throughout
• What do quality audits help with?

  Tracing sources of problems for improvements
• What does empowerment in TQM involve?

  Giving employees control over their tasks
• How can monitoring processes improve quality?

  By reducing variability in performance areas
• What is the goal of zero defects?

  Ensuring products are free from defects
• How does training contribute to quality control?

  Improves quality of employee performance
• What is Kaizen in the context of quality management?

  Continuous improvement of business performance
• What is quality control?

  A system for maintaining manufacturing standards
• How is quality assessed in quality control?

  By testing a sample against expected standards