MGCR 472 Lecture Notes - Lecture 2: Total Factor Productivity, Swot Analysis, Leading Edge

• School: McGill University
• Department: Management Core
• Course: MGCR 472
• Professor: Beste Kucukyazici

Document Summary

Strategy: total pattern of decisions and actions that influence long-term direction and goals. Long term plans for the operations function (i. e for achieving operational goals) Relates to: products, processes, operation resources, costs, delivery times, scheduling. Should be aligned with the organizational goals and strategies (reverse is also true) Should be coordinated with other functional strategies (finance, marketing) Distinctive competencies: the special attributes or priorities that give an organization a. Environmental scanning : the consideration of events and trends that present threats or competitive edge opportunities for a company, internal or external. (swot analysis) Competitiveness: how effective you are in the marketplace, compared to other firms that offer similar products. Firms must be competitive to sell their products. To gain the leading edge in competition and the remain competitive, firms need to clearly define their mission , formulate their strategy to achieve the mission and decide on the tactics to implement their strategy.