Week 2 - 2

Question 1

Strategy

Answer 1

Is the total pattern of decisions and actions that influence the longterm direction of the business

Question 2

Strategy plan

Answer 2

Set broad plans
Plans the general path to achievement
Stresses long term rather than short
Deals with the total picture
Is detached of the day-to-day activities

Question 3

Operations Strategy

Answer 3

is the pattern of decisions and actions that shape the long term vision, objectives and capabilities of the operations ends its contribution to the overall strategy of the business.

Question 4

Operational

Answer 4

Day to day life, detailed and often localized

Question 5

Operations

Answer 5

Resources that create products and services

Question 6

Operations contribution

4 steps

Answer 6

Step 1. correct the worst problem
Step 2. Adopt best practice
Step 3. Link strategy with operations
Step 4. Give an operations advantage

Question 7

Top-down

Answer 7

Reflects what the whole group or business wants to do

Corporate Business Strategy (lose weight)
Business Strategy Decisions (How much)
Functional Strategy Decisions (How do we achieve)

Question 8

Outside-in

Answer 8

Translate intended market position so as to provide the required objectives for operations decisions

Order Winners (what it needs to have to want to buy it)
Order Qualifiers( the minimum it needs to have to want to buy it)
Less important factors

Question 9

Bottom-up

Answer 9

Learn from day-to-day activities so as to cumulatively build strategic capabilities

Question 10

Inside-out

Answer 10

Develop resources and processes so that their capabilities can be exploited in their chosen market

Strategic Resources & Sustainable Competitive advantages (Resource-based view, Source, Not mobile, Difficult to imitate)
Existing capabilities & constraints (Tangible and intangible resources, Experience, Staff, Integration)

Question 11

The line of fit

Answer 11

Achieve Alignment
Achieve Sustainable Alignment
Improve Overall performance