Strategy in Quality service management Flashcards
often used in tangible goods, rather in service related industries.
Strategic planning
the company is able to identify competitors while satisfying needs and wants of the guests.
Strategic planning
process of identifying a company’s internal and external characteristics which will contribute to the attainment of its goal pointing to a specific direction
strategic planning
to be successful and make a profit in the industry’s competitive market, every organization needs a clear strategy.
can help decision makers make the best choice for the company
Porter’s generic strategies
Three strategies in achieving competitive edge:
- cost leadership strategy
- differentiation strategy
- Focus strategy
increasing profits by reducing optimal costs and charging low prices.
needs to invest in new technologies and efficient logistics
cost leadership strategy
making a company’s service being attractive and unique in comparison to those competitors.
TRENDSETTER
differentiation strategy
developing services for niche markets; requires deep understanding of the customer’s need of a company.
focus strategy
aims to meet needs by providing something special and extra that the customer can’t get elsewhere.
Focus strategy
PESTEL means
Political
Economical
Social
Technological
Environmental
Legal
Strength and weakness
Internal
Opportunities and Threats
External
an organization assess everything; includes strengths.
flaunts the weakness of an organization to be addressed and resolves
Internal analysis
identifying how to the firm positions itself in the market with respect to its rivals.
it showcases opportunities and threats
External analysis
Ford, 2011
H & T organization must cope with the changes in the future which includes :
demographics
technology
social expectations
economic changes
competitions
stakeholders