HRMA 2350 Study Guide - Final Guide: Vertical Integration, Strategic Business Unit

• School: University of Houston
• Department: Hotel and Restaurant Management
• Course: HRMA 2350
• Professor: Boger Carl

Document Summary

Defines the markets and the businesses in which an organization chooses to operate. Is a plan specifying how an organization will allocate resources in order to support infrastructure and production. An operations strategy is typically driven by the overall business strategy of the organization, and is designed to maximize the effectiveness of production and support elements while minimizing costs. Provides a framework for understanding diverse businesses and helps managers establish priorities for allocating resources. A relatively autonomous division of a large company that operates as an independent enterprise with responsibility for a particular range of products or activities. The combination in one company of two or more stages of production normally operated by separate companies.