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Operations Management > OM - GB335 - Chapter 2 > Flashcards

OM - GB335 - Chapter 2 Flashcards

1
Q

Reasons to globalize

A
  1. reduce costs
  2. improve supply chain
  3. provide better goods and services
  4. understand markets
  5. Learn to improve operations
  6. attract and retain global talent
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2
Q

Cultural and Ethical Issues

A

cultures and attitudes can be quite different

  • punctuality
  • lunch breaks
  • environment
  • intellectual property
  • thievery
  • bribery
  • child labor
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3
Q

Mission Statements

A

tell an organization where it is going

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4
Q

Strategy

A

tells the organization how to get there

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5
Q

Factors Affecting Mission

A
  • philosophy and values
  • profitability and growth
  • public image
  • benefit to society
  • customers
  • environment
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6
Q

Strategies for Competitive Advantage

A

Differentiation
Cost leadership
Response

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7
Q

Issues in Operations Strategy

A
  1. resources view
  2. value chain analysis
  3. Porter’s Five Forces model
  4. Operating in a system with many external factors
  5. constant change
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8
Q

Product Life Cycle Stages

A
  1. Introduction
  2. Growth
  3. Maturity
  4. Decline
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9
Q

Company Strategies/Issues: Introduction stage

A

Best period to increase market share

R&D engineering is critical

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10
Q

Company Strategies/Issues: Growth Stage

A

Practical change price or quality image

Strengthen niche

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11
Q

Company Strategies/Issues: Maturity stage

A

Poor time to change image, price, or quality
competitive costs become critical
Defend market position

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12
Q

Company Strategies/Issues: Decline stage

A

Cost control is critical

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13
Q

OM Strategies/Issues: Introduction stage

A 
Product design and development critical
frequent product and process design changes
short production runs
High production costs
Limited models
Attention to quality
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14
Q

OM Strategies/Issues: Growth Stage

A 
forecasting critical 
Producing and process reliability
Competitive product improvements and options
increase capacity
shift toward product focus
enhance distribution
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15
Q

OM Strategies/Issues: Maturity Stage

A 
Standardization
Fewer product changes, more minor changes
Optimum Capacity
Increasing stability of process
Long Production runs
Product improvement and cost cutting
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16
Q

OM Strategies/Issues: Decline Stage

A 
little product differentiation
Cost minimization
Overcapacity in the industry
prune line to eliminate items not returning good margin
Reduce capacity
17
Q

Strategy Development Process

A
  1. Analyze the Environment (SWOT)
  2. Determine the Corporate Mission
    3 Form a Strategy
18
Q

Strategy Development and Implementation

A
  • Identify key success factors
  • Build and staff the organization
  • Integrate OM with other activities

Operations Management (5 decks)

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