1 Operations management is the set of activities that create

1. Operations management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs.

True                False

2. To attract and retain global talent, and to expand a product\'s life cycle, are both reasons to globalize.

True                 False

3. Every network has at least one critical path.

True                 False

4. Patterns in the data that occur every several years are called circuits.

True                 False

Solution

1. Operations management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs - TRUE

Explanation -- Since Operational Management is used in producing goods or services. It creates value for firm. Operational Management is a set of activities that converts input into outpur. Operations Management is responsible for creating value in the form of goods and services. It is concerned with value-added, which is the difference between the cost of inputs and the price of outputs. Hence Operations management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs.

2. To attract and retain global talent, and to expand a product\'s life cycle, are both reasons to globalize - TRUE

3. Every network has at least one critical path - TRUE

Explaination -- Every network has at least one critical path but there may be several critical path also. Accoring to Project management techniques: PERT and CPM Analysis.

4. Patterns in the data that occur every several years are called circuits - TRUE