The Ultimate OM440 Midterm Study Guide.pdf

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Boston University
Operations & Technology Management
SMG OM 440

The Ultimate OM440 Midterm Study GuideIntroduction to Operations Strategy Chapter 2 Operations Strategya set of goals policies and selfimposed restrictionsBusiness Strategy you choose your customers your business and competitors Service Strategy How you will provide the service and compete Corporate Strategy Decisions regarding industries and marketsHow it is structured to attack and acquire markets allocate key resourcesStrategic Business UnitUsually subsidiarySlope of business and its relation with the corporationHow it positions itself within its industry to achieve and maintain competitive advantageMust meet customer needsAccount for competitors strengths and weaknessSustainable given capabilitiesFunctional strategiesA MarketingSales B Operations C FinancialControl D ResearchDevelopmentContingency Theory of Operation StrategyDifference business units have different strengthsweaknessesso they may choose to compete in different waysDifferent ways of operatingmanaging results in different operating characteristics making it easierharder for a company to achieve a given form of differentiationRather than seek one best waytask is to seek congruence fit between its business units chosen approach to competitionEveryone is going to be doing things differently because if there was one way to do it everyone would be doing it that wayOperations Strategy Implementation Structural the tangibleCapacityamount type timingSourcing and vertical integrationdirection extent balanceFacilitiessize location specialization Information and process technologydegree of automation interconnectedness lead vs followInfrastructural the intangiblePolicies systems procedures Human resourcesselection skills comp employResources allocation and capital budgetingWork planningcontrol systempurchasing aggregate planningcontrol systemQuality systemsdefect protection monitoringMeasurement and award systemsmeasures bonusesProduct and process development systemsleader or follower project team organization 1
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