GMS 401 Midterm: Chapter 2

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Fatemeh Firouzi

Document Summary

Compeiion is the driving force in many organizaions. Companies compete by emphasizing one or more compeiive prioriies, such as cost, quality, lexibility and delivery. From a customer"s perspecive, these compeiive prioriies are price, quality, variety and imeliness. To develop an efecive strategy for the organizaion, it is essenial to determine the key purchasing criteria for customers, and to idenify which are order qualiiers and which are order winners. Strategies are plans for direcing the organizaion to achieve its mission/vision/goals. Mission/vision is what the company wants to achieve, its products and services, and its markets (now and in the future, respecively). Organizaions generally have overall strategies that pertain to the enire organizaion and funcional strategies that pertain to each of the funcional areas. Funcional strategies are narrower in scope and should be linked to overall strategy. An operaions strategy is co-ordinated set of policies, objecives, and acion plans directly afecing the operaions funcion.