Operations & Risk Management Flashcards
6 cards from real CBA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Operations & Risk Management flashcards as text
Why is workflow optimization important in operations management?
Answer: To improve operational efficiency
Optimizing workflows increases efficiency, reduces bottlenecks, and improves overall productivity in business operations.
What is the main purpose of risk assessment in business planning?
Answer: To identify and mitigate potential threats
Risk assessment identifies potential threats to a business, allowing for proactive planning and mitigation strategies.
Which strategy helps ensure continuity during operational disruptions?
Answer: Business continuity planning
A business continuity plan outlines steps to maintain operations during emergencies or disruptions.
What is a key benefit of supply chain risk management?
Answer: Reduces delays and maintains supply flow
Effective supply chain risk management minimizes delays, ensures product availability, and protects business reputation.
Which tool is commonly used to monitor and control business operations?
Answer: Dashboards
Dashboards provide real-time data visualization, allowing managers to track key performance indicators and make informed decisions.
What is a key consideration when creating an employee safety protocol?
Answer: Ensure compliance and reduce accidents
Clear safety protocols reduce the risk of injury, ensure compliance with regulations, and foster a safe work environment.