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OCSM303 > CH 2:Operations Strategy in a Global Environment > Flashcards

CH 2:Operations Strategy in a Global Environment Flashcards

1
Q

reasons to globalize

A

Improve the supply chain

Reduce costs/exchange rate risks

Improve operations
Understand markets
Improve products
Attract and retain global talent

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1
Q

Improve the supply chain

A

Locating facilities in countries closer to where unique resources are available

Resources may be low cost labor, raw material, etc

Ex: perfume manufacturing in france

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2
Q

Reduce costs/exchange rate risks

A

Reduce risks associated w exchange rates

Lower direct and indirect costs

Trade agreements can lower tariffs (EU, WTO)

Operational hedging:

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3
Q

Operational hedging:

A

building extra capacity in different countries and then shifting production from country to country

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4
Q

Improve operations

A

Operations learn better understand management in diff countries

Ex: germans use robots

International operations can improve response time and customer service

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5
Q

Understand markers

A

Interacting w foreign customers, suppliers, competition can lead to new opportunities

Can extend product life cycle (smth bad here may be smth still good somewhere else)

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6
Q

Improve products

A

Open to free flow ideas can help improve products

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7
Q

Attract and retain global talent

A

Offer better employment opportunities

Can relocate unneeded ppl to other locations where they are needed

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8
Q

Cultural and ethical issues in globalization

A

Social and cultural behavior differs

International laws, agreements, codes of conduct for ethical behaviors

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9
Q

Companies want to consider

A

Work ethic
Availability of raw materials
Rate of innovation
#of skilled workers
Interest rates
Language variation

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10
Q

what is mission and strategy

A

Mission statements tell an org where it is going and the strategy tells the org how to get there

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11
Q

Mission

A

Where the org is going
The purpose
Answers what they contribute to society
Provides boundaries and focus

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12
Q

Factors affecting mission

A

Philosophy and values
Profitability and growth
Public image
Benefit to society
Customers
Environment

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13
Q

Strategy

A

How an org will achieve its mission and develop a plan

Exploit opportunities and strengths, neutralize threats, and avoid weaknesses

3 conceptual ways

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14
Q

Differentiation

A

Provides uniqueness
Experience differentiation for services
Ex: disney

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15
Q

Cost leadership

A

Cheaper
Ex: walmart

16
Q

Response

A

More responsive
Pizza hut

17
Q

competitive advantage

A

unique advantage over competitors

18
Q

Issues in operations strategy

A

Resource view
Value chain analysis
Porter’s 5 forces
Operating in a system w many external factors
Constant change

19
Q

Product lifecycle

A

Introduction→ growth→maturity→decline

20
Q

Strategy development process

A

Analyze environment
Determine corporate mission
Form a strategy

21
Q

Analyze environment

A

Identify strengths, weakness, opportunities, and threats

Understand env, customers, industry, and competitors

22
Q

Determine corporate mission

A

State reasons for firms existence and identify the value it wishes to create

23
Q

Form a strategy

A

Build competitive advantage weather its low price, quality, quick delivery, etc

24
Q

Strategy development and implementation

A

Identify key success factors
Integrate OM with other activities
Build and staff the organization
Operations managers job to implement OM

25
Q

Key success factors

A

Success factors within each functional area of marketing, fnan/acct, and operations

Marketing- service, promotion price

fnan/acct- payables, receivable, credit

Operations- location, investory, layout

26
Q

Outsourcing

A

transferring activities that have traditionally been internal to external suppliers

27
Q

outsourching accelerayion due to

A

Increased tech experience

More reliable and cheaper transportation

Rapid development and deployment of advancements in telecommunications and computers

28
Q

Outsourced activities

A

Legal services
It servies
Travel services
Payroll
Production
surgery

29
Q

pros of outsourcing

A

Cost savings
Gaining outside expertise
Improving operations

30
Q

Cons of outsourcing

A

Loss of control
Potential future competition
Increased inventory costs

31
Q

Global strategy

A

Standardized product

32
Q

Transitional strategy

A

move material, ppl, or ideas across national boundaries

33
Q

International strategy

A

important/export or license existing product

34
Q

Multidomestic strategy

A

Use existing domestic model globally

OCSM303 (6 decks)

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