Question

The ongoing execution of activities that involves producing the same output repeatedly or providing a repetitive service, and operations have the goal of earning a profit. What is this concept called?

A) Project Management
B) Operations Management
C) Strategic Management
D) Financial Management

Answer 1

The concept described in the question is Operations Management, which is focused on producing consistent output or service repetitively to earn profit and is inherently cyclical.

Step-by-step explanation:

The concept that involves the ongoing execution of activities, where these activities consist of producing the same output repeatedly or providing a repetitive service with the goal of earning a profit, is called Operations Management. This management area focuses on the careful control of the production of goods or the provision of services. It contrasts with a process in which the system follows a different path every cycle, which might be more akin to Project Management. Operations Management is repetitive or cyclical by nature, much like the engineering design process that may involve completing tasks or phases in repetitive cycles until the desired result is achieved. In this context, the correct answer is B) Operations Management.