Operations Management Chapter 2-Competitiveness, Strategies & Productivity – Flashcards
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How effectively a business meets the wants or needs of customers relative to other businesses
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Competitiveness
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Design products and services best meeting customer's identified wants or needs.
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What are three ways operations functions influence business competitiveness?
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Produce products or deliver services that meet desired price and quality levels.
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What are three ways operations functions influence business competitiveness?
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Manage operations and supply chain in a way that supports promo strategies.
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What are three ways operations functions influence business competitiveness?
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Organized strategies and functional strategies
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What are the two major types of business strategies?
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Support achievement of mission and goals of the entire business
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Organized strategies
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Developed by functional areas to implement organizational strategies
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Functional strategies
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long-term view
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Mission
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What to do to keep in line with mission
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Goals and objectives
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Ways to achieve goals and objectives in 3-5 years
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Strategies
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Ways to implement strategies in 1-3 years
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Tactics
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What to do today, tomorrow, to keep in line with tactics, strategies, goals and objectives, and ultimately mission.
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Action plans and operating procedures
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attributes or abilities that give a business a competitive edge
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Core competencies
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Characteristics that customers perceive as minimum standards of acceptability for a potential purchase.
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Order qualifiers
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Characteristics that will cause customers to perceive a product, service, or business as better than the competition
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Order winners
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systematic monitoring of events and trends that may present business opportunities or threats
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Environmental scanning
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SWOT
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How is environmental scanning used in strategy formulation?
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systematic analysis of strengths, weaknesses, opportunities, and threats of an organization or business
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SWOT
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Measure of how effectively an organization or business is currently using its resources
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Productivity
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focus on maintaining or improving quality
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Quality based strategies
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focus on reducing the time required to accomplish various activities
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Time based strategies
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methods, technology, quality, capital, management, employees
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Factors that affect the productivity of business
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1. Develop productivity measures 2. Look at processes and systems holistically 3. Develop productivity improvement methods 4. Establish reasonable goals for improvement 5. Secure management support 6. When there is improvement, publicize results
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Key steps to improving productivity
