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

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

Document Summary

Lecture 2: chapter 1 productivity and operations strategy in a global environment. Competitive advantage implies the creation of a system that has a unique advantage over competitors. Managers achieve competive advantages through: differentiation, low cost, response. Competing on differentiation: distinguishing the offerings of an organization in a way that the customer identifies them as adding value, differentiation is concerned with providing uniqueness by: Strategy is an approach, long term plean that will set a (new) direction for an organization. Missions states the rationale for the organizations existence. A mission statement tells an organization, where it is going. The strategy tells the organization how to get there. Each functional area of an organization: has a mission and a strategy for achieving its mission, helps the organization reach the overall mission these strategies, highlight opportunities, use strengths, neutralize threats, avoid weaknesses. Mission goals strategy tactics action plans.