Business operation Part II Flashcards
operations is full of…
trade-offs
corporate strategy provides … serving as framework to carry out functions. includes firms overall…with its…
-direction
-goals
-core competences
corporate strategy determines the … will serve and the … the firm will make to changes in market conditions or the competitive environment
-markets
-response
corporate strategy provides the resources to develop 1) and 2)
1) core competencies
2) core processes
Corporate strategy leads to —>
Market analysis
market analysis consists of 1) and 2)
1)market segmentation
2)needs assessment
market segmentation
finding a group of customers with enough in common to design products and services
needs assessment
identify customers needs and understand how well competitors are addressing those needs
market analysis —>
competitive priorities
competitive priorities
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)
competitive priorities lead to —>
competitive capabilities
competitive capabilities
what you can deliver
there are
-current
-needed
-planned
Another way to examine a a firm’s ability to be successful in the market place is to identify the … and …
-order winners
-order qualifiers
order qualifiers are the … required from a set of criteria
minimum level
order winners the criterion customers use to … a businesses products/services from other companies
-differentiate
order winners can include
low price, quality, time, flexibility
also
-after sale support
-tech support
-reputation
Companies design their operations around their competitive priorities
product then process
trends in operation management
1) productivity improvement
2) global competition
3) ethical workforce diversity, and environmental issues
productivity is =
output/input
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
advantages:
-increased market penetration
-comparative cost advantages
disadvantages:
-political risks
-lower skilled workers
-vulnerability to supply chain disruptions
ethical workforce diversity, and environmental issues
challenge is clear: issues of ethics, workforce diversity and environment
five themes shape post covid :BARDR
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
