DANCEST 805 Lecture 11:
Document Summary
Structural elements one of the two major decision categories addressed by a strategy. Includes tangible resources such as buildings, equipment, and computer systems. Infrastructural elements one of two major decision categories addressed by a strategy. Includes the policies, people, decision rules, and organisational structure choices made by a firm. Strategy a mechanism by which a business coordinates its decisions regarding structural and infrastructural elements. As figure 2. 1 suggests, most organisations have more than one level of strategy. From upper-level business strategies to more detailed functional-level strategies. Mission statement a statement that explains why an organisation exists. It describes what is important to the organisation, called its core values, and identifies the organisation"s domain. Business strategy the strategy that identifies a firm"s targeted customers and sets time frame and performance objectives for the business. Clearly identify the firm"s targeted customers and broadly indicate what the operations and supply chain functions need to do to provide value to these customers.
