Question

to operations managers, ______ means producing output or achieving a goal at the lowest cost.
○ a. value
○ b. quality
○ c. effectiveness
○ d. efficiency

Explanation:

• Option a: Value in operations management relates to the worth of a product/service to customers, not about lowest - cost production.
• Option b: Quality focuses on meeting or exceeding customer expectations regarding product/service features, not on cost - effective production.
• Option c: Effectiveness is about achieving the right goals (doing the right things), while the question is about doing things at the lowest cost.
• Option d: Efficiency in operations management is defined as achieving a goal (like producing output) while minimizing costs or using the least amount of resources, which matches the description in the question.

Answer:

d. efficiency