MGCR 472 Chapter Notes - Chapter 2: Operations Management, Balanced Scorecard

• School: McGill University
• Department: Management Core
• Course: MGCR 472
• Professor: Derek Wang

Document Summary

Competition is the driving force in many organizations. Competition may involve: price, quality, special features, services, time, other factors. To develop effective strategies for business, it is essential for organizations to determine: combinations of factors which are important to customers, factors which are order qualifiers, factors which are order winners. It is essential that goals and strategies (cid:271)e alig(cid:374)ed (cid:449)ith the orga(cid:374)izatio(cid:374)"s (cid:373)issio(cid:374). Strategies must take into account: present and future customer wants, strengths and weaknesses, threats and opportunities. These can vary from what competitors are doing, or are likely to do, to technology, supply chain management, and e-business. Organizations generally have overall strategies that pertain to the entire organization and strategies that pertain to each of the functional areas. Functional strategies are narrower in scope and should be linked to overall strategies. Time-based strategies and quality-based strategies are among the most widely used strategies business organizations employ to serve their customers and to become more productive.