Operations Management Exam 1- Chapter 2
How effectively an organization meets the wants and needs of customers relative to others that offer similar goods or services
The special attributes or abilities that give an organization a competitive edge
The monitoring of events and trends that present threats or opportunities for a company
Provide detail and scope for a mission
The reason for the existence of an organization
States the purpose of an organization
The approach, consistent with the organization strategy, that is used to guide the operations function.
Characteristics thats customers perceive as minimum standards of acceptability to be considered a potential for purchase
Characteristics of an organization’s goods or services that cause it to be perceived as better than the competition
A measure of the effective use of resources, usually expressed as the ratio of output to input
Strategy that focuses on quality in all phases of an organization
Plans for achieving organizational goals
Analysis of strengths, weaknesses, opportunities, and threats
The methods and actions taken to accomplish strategies
Strategy that focuses on reduction of time needed to accomplish tasks
_____ _____ often means that business organizations most frequently assess their competitors’ strategies and weaknesses, as well as their own.
_____ _____ is critical because strategies provide direction for the organization, so they can play a role in the success or failure of a business organization.
Functional; Supply Chain
_____ strategies and _____ _____ strategies need to be aligned with the goals and strategies of the overall organization.
Low Cost; responsiveness, differentiation
The three primary business strategies are _____ _____, _____, _____.
_____ is a key factor in the cost of goods and services. Increases in _____ can become a competitive advantage.
High productivity is particularly important important for organizations that have a strategy of _____ _____.