MGT 3501 Lecture 2: Ch 2 Notes

• School: Georgia Tech
• Department: Management
• Course: MGT 3501
• Professor: Chang Yih Long

Document Summary

Know what a sustainable business strategy is and how it relates to operations and supply chain mgmt. Explain how operations and supply chain strategies are implemented. Understand why strategies have implications relative to business risk. Evaluate productivity in operations and supply chain mgmt. Sustainable strategy: the firm"s strategy describes how it will create and sustain value for its current shareholders. Shareholders individuals or companies that legally own one or more shares of stock in the company. Social pertains to fair and beneficial business practices toward labor, community, and region in which firm conducts business. Economic firm"s obligation to compensate shareholders who provide capital via competitive returns on investment. Operations and supply chain strategy: setting broad policies and plans for using the resources of a firm must be integrated with corporate strategy. Coping w/ changes in demand changing volume. Flexibility and new-product introduction speed changing it: examples of competitiveness price, quality, time, flexibility, service (superior over another company), location, trade-offs.