ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Operations management can be defined as the management of resources or ____, organizing and designing the transformation process to produce products.
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input
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output
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secure
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cluster
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Explanation:
Detailed explanation-1: -Operations management (OM) is the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.
Detailed explanation-2: -Operations management transforms inputs (labor, capital, equipment, land, buildings, materials, and information) into outputs ( goods and services ) that provide added value to customers. All organizations must strive to maximize the quality of their transformation processes to meet customer needs.
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