BU385 Lecture Notes - Lecture 2: Strategic Planning
Document Summary
Competitiveness the ability and performance of an organization in the market compared to other organizations that offer similar goods or services. Strategy long term plan that determines the direction on the organization. Strategic planning managerial process that determines a strategy for the organization. Key purchasing criteria major elements influencing a purchase: price, quality, variety, and timeliness. Quality characteristics of a good or service. Variety choices of models and options available to customers. Timeliness availability of goods and services when they are needed by the customer. Purchasing criteria such as price, on time delivery, delivery speed, quality. Order qualifiers those purchasing criteria that customers perceive as minimum standards of acceptability for purchase. Order winners purchasing criteria that cause the selling organization to be perceived as better than the competition. Competitive priorities the importance given to operations characteristics: cost, quality, flexibility, and delivery. Flexibility being able to produce a variety of goods and service, also customization.
