mod 2 Flashcards
Why is it important for functional strategies to integrate?
Integrating functional strategies ensures that all departments within an organization are aligned and working towards common goals
What is the focus of the Operations and Supply Chain strategy?
use core competencies effectively for competitive advantage
what’s the triple bottom line
people, profit, planet
SWOT meaning
stands for Strengths, Weaknesses, Opportunities, and Threats
whats the prupose of SWOT
The purpose of a SWOT analysis is to evaluate an organization’s internal strengths and weaknesses, as well as external opportunities and threats.
Explain the core competency of price. Of flexibility.
price- offering products or services
flexability- This core competency allows a company to quickly adapt to changes in the market or customer demands
Briefly explain the purpose of a balanced scorecard.
A balanced scorecard is a strategic management tool used to monitor and manage an organization’s performance across four perspectives: financial, customer, internal business processes, and learning and growth
What is the difference between outsource and offshore?
Outsource: Contracting out business processes or services to a third party, which can be located domestically or internationally8.
Offshore: Relocating business processes or services to another country, typically to leverage cost advantages
How can a supply chain be improved by globalizing?
Globalizing a supply chain can improve it by expanding sourcing opportunities, accessing new markets, reducing costs through economies of scale, and enhancing the diversity of suppliers and products
Why is delivery a risk at a global level?
Delivery at a global level is risky due to factors such as geopolitical instability, transportation disruptions, regulatory differences, and natural disasters
Why is productivity important to measure?
Measuring productivity is crucial because it helps organizations understand how efficiently they are using their resources. It provides insights into performance, identifies areas for improvement,
Where can productivity be measured?
Productivity can be measured in various areas, including individual employee performance, departmental efficiency, overall organizational output, and specific processes or projects. It can be assessed using metrics such as output per hour worked, cost per unit produced, and revenue per employee.
