GMS 401 Lecture Notes - Lecture 2: Factors Of Production, Total Factor Productivity, Strategic Planning

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Payman Ahi

Document Summary

Lecture 2: productivity and operations strategy in a global. The creation of a system that has a unique advantage over competitors. Managers achieving competitive advantages via differentiation, low cost and response. Distinguishing the offerings of an organization in a way that the customer identifies them as adding value. Innovative design: broad product line, reliable after-sales service, customer"s experience. Low-cost leadership while lowering the cost, providing the maximum value as defined by customer. Examining each of the 10 om strategic decisions in a persistent effort to lower costs while meeting customer expectations of value (from first lecture) A low-cost strategy does not imply low value or low quality. Competing on response flexible, reliable and quick response. Flexible performance matching market changes in design innovation and volumes. Timely product development and delivery timeliness in design, production and delivery. Reliable scheduling reliability in meeting schedules. An approach, long-term plan that will set a (new) direction for an organization.