Pre 3

Question 1

What is Operations strategy

Answer 1

Is the plan that defines how a company will alocate resources to support its business objectives

It is crucial for achieving efficiency, quality, customer satisfaction, and competitive positioning

Focuses on Cost, Quality, Speed, Flexibility, and Innovation.

Question 2

Component of Operations Strategy

Answer 2

• Process Strategy
• Capacity Strategy
• Supply Chain S
• Quality S
• Technology S

Question 3

is the ability to outperform competitors through superior operations.

Answer 3

Competitive advantage

Question 4

Three Main Operation Strategies

Answer 4

• Cost Leadership
• Differentiation
• FOcus

Question 5

Three Main Operation Strategies

Minimizing costs (e.g., Walmart’s supply chain efficiency).

Answer 5

Cost Leadership

Objective: Reduce prodcution & operational cost while maintaining quality
Methods: Process automation, bulk purchasing, lean management.

Question 6

Three Main Operation Strategies

Offering unique products/services (e.g., Apple’s product innovation).

Answer 6

Differentiation

Objective: Offer unique value that customers are willing to pay a premium for.
Methods: Innovation, superior customer service, brand reputation.

Question 7

Three Main Operation Strategies

Targeting a niche market (e.g., Rolex’s premium watch segment).

Answer 7

Focus Strategy

Objective: Serve a specific market segment with tailored offerings.

Methods: Specialized products, personalized services.

Question 8

Aligning Operations Strategy with Business
Goals

Answer 8

• Understand business objectives.
• Analyze market conditions.
• Develop operational capabilities accordingly.
• Continuously improve processes.

Question 9

Challenges in Operations Strategy

Answer 9

• Market Changes
• Technological Advancements
• Global Competition