Business operation Part II

Question 1

operations is full of…

Answer 1

trade-offs

Question 2

corporate strategy provides … serving as framework to carry out functions. includes firms overall…with its…

Answer 2

-direction
-goals
-core competences

Question 3

corporate strategy determines the … will serve and the … the firm will make to changes in market conditions or the competitive environment

Answer 3

-markets
-response

Question 4

corporate strategy provides the resources to develop 1) and 2)

Answer 4

1) core competencies
2) core processes

Question 5

Corporate strategy leads to —>

Answer 5

Market analysis

Question 6

market analysis consists of 1) and 2)

Answer 6

1)market segmentation
2)needs assessment

Question 7

market segmentation

Answer 7

finding a group of customers with enough in common to design products and services

Question 8

needs assessment

Answer 8

identify customers needs and understand how well competitors are addressing those needs

Question 9

market analysis —>

Answer 9

competitive priorities

Question 10

competitive priorities

Answer 10

what you want to deliver
-cost (low cost: costco)
-quality (top: rolex) (consistent: mcdonald)
-time (delivery speed, on-time, development)
-flexibility (customization, variety, volume flexibility)

Question 11

competitive priorities lead to —>

Answer 11

competitive capabilities

Question 12

competitive capabilities

Answer 12

what you can deliver
there are
-current
-needed
-planned

Question 13

Another way to examine a a firm’s ability to be successful in the market place is to identify the … and …

Answer 13

-order winners
-order qualifiers

Question 14

order qualifiers are the … required from a set of criteria

Answer 14

minimum level

Question 15

order winners the criterion customers use to … a businesses products/services from other companies

Answer 15

-differentiate

Question 16

order winners can include

Answer 16

low price, quality, time, flexibility
also
-after sale support
-tech support
-reputation

Question 17

Companies design their operations around their competitive priorities

Answer 17

product then process

Question 18

trends in operation management

Answer 18

1) productivity improvement
2) global competition
3) ethical workforce diversity, and environmental issues

Question 19

productivity is =

Answer 19

output/input

Question 20

global competition (ILIRC)
1) improved transportation
2) loosened regulations on financial institutions
3) increased demand for imported goods and services
4) reduced import quotas and international trade barriers
5) comparative cost advantage

Answer 20

advantages:
-increased market penetration
-comparative cost advantages

disadvantages:
-political risks
-lower skilled workers
-vulnerability to supply chain disruptions

Question 21

ethical workforce diversity, and environmental issues

Answer 21

challenge is clear: issues of ethics, workforce diversity and environment

Question 22

five themes shape post covid :BARDR

Answer 22

1) building operations resilience
2) accelerating end-to-end digitalization
3) rapidly increasing capital and operating expense transparency
4) driving the future of work
5) reimagining a sustainable operations competitive advantage