SCStrategy_handout Flashcards
3 approaches to develop business strategy
- emphasizing exploitation of market power (competitive forces approach)
- emphasizing efficiency (resource-based perspective)
- dynamic capabilities
Dimensions of competitiveness
measured by: market, customer-oriented. 4P’s.
Which 4 P is not considered in operations strategy lecture
Promotion
Costs involving Price
Costs involved ordering, receiving, using and disposing of the product
Costs involving Product
Performance, features, reliability, durability, aesthetics
Costs involving Place
Delivery of the product, place & time of delivery, cancellation, order adjustment.
Inward look - Quality
defects during/after process
Inward look - Time
LT related factors (including length & variability of LTs)
Inward look - Cost
Developing, producing, delivering, servicing & depositing of the product.
Resource-based approach
Superior systems and structure as superior because they have lower costs
Remark
Resource endowment are “sticky” in ST because 1. organizational capacity cannot be adjust rapidly.
Some assets not readily tradable (know-how, reputation)
charactristics of winners in global marketplace
Demosntrated timely responsiveness, rapid & flexible product innovation, effectively coordinate & redeploy internal & external competence
Dynamic capabilities
Dynamic: capacity to renew competences. Capabilities: adapting, integrating, reconfiguring internal & external org. skills, resources, functional competences to match requirements of a changing environment.
