An operations manager is most likely to be responsible for ________
A) developing relationships with potential customers
B) using social media to interact with customers
C) helping to promote products to retailers
D) creating branding and advertising strategies
E) arranging to buy the necessary materials for manufacturing
Answer: E
Explanation: In addition to supervising the actual production activity, operations managers are responsible for a wide range of other strategies and decisions, including purchasing (arranging to buy the necessary materials for manufacturing).
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a. Expert power b. Referent power c. Coercive power d. Reward power
Select the incorrect statement regarding the contribution margin income statement.
A. Assuming no change in fixed costs, a $1 increase in contribution margin will result in a $1 increase in profit. B. Contribution margin represents the amount available to cover product costs and thereafter to provide profit. C. The contribution margin approach for the income statement is unacceptable for external reporting. D. The contribution margin approach requires that all costs be classified as fixed or variable.
Free cash flows (FCF) used in DCF valuations discussed in the chapter are defined as follows:
Which of the boxes within Weisbord’s model includes formal goal clarity and informal goal agreement?
a. Purposes b. Structure c. Rewards d. Relationships