PHYSICS 102 Lecture 2:
Document Summary
Operations strategy: set of competitive priorities couples with sc structural and infrastructural design choices intended to create capabilities that support a set of value propositions targeted to address the needs of critical=key customers. Strategic plans made at all levels need to take into account the business environment, including economic conditions, competitor actions, market opportunities, regulatory changes, the firm"s culture, and so on. Firms" culture influences the objectives it sets and the decisions it makes regarding strategic planning: corporate strategic planning. Corporate strategy: determines the overall values, direction, goals and mission of the firm and the types of businesses that the firm wants to be in. (e. g. what businesses to acquire and what businesses to divest) It is broadest in scope (long-term horizon) and the least constrained. It addresses the portfolio of businesses owned by a firm. Long time horizon, setting overall values, goals of firm as a whole.
