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GMS 401 (203)
Chapter 2

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Department
Global Management Studies
Course
GMS 401
Professor
Neil Wolff
Semester
Fall

Description
GMS 401 chapter 2 - Competitiveness - Ability and performance of a company, compared to the company’s competitors. - Order qualifiers X Order winners - Order qualifiers : minimum standards of acceptability; allow product to be considered; However, these may not be sufficient to get a customer to purchase from the organization. - Order winners : purchasing criteria that cause perception of being better than competition; allow product to be purchased. - Businesses compete using operations (cost, quality, flexibility, timeliness) - Cost/ Price - All other factors being equal, a customer will choose the lowest price - Firms that compete on price alone may settle for lower profit margins - Most firms focus on lowering their costs of delivering goods and/or services to their customers. - Quality - Materials, workmanship, design. - Buyer: how well will the product or service serve its purpose? - Company? How consistently they can produce the costumers quality expectations - Flexibility -The ability to respond to changes. -The better the response, the greater the competitive advantage. -This may be changes in demand or design. - Timeliness - How quickly is a product or service delivered to the customer - How quickly new products are developed. - Rate at which changes to product or process are made. -What does the customer want ? - Value = Performance / cost - Value = (quality + speed + flexibility) / cost - Value = (w1*quality + w2*speed + w3*flexibility)/ cost w = weigh - Mission / Vision / Values - Mission - Where the organization is going now - Vision - Where the organization desires to be in the future - Values - Shared beliefs of the organization’s stakeholders - Goals and Objectives - Provide detail and scope of mission - Strategies - Plans that determine direction for achieving organizational goals - Tactics and Action Plans - The methods and actions taken to accomplish strategies - OperationsStrategy - 9 Strategic Decisions - Facility. - specialize or focus by market, product group, or production process type? - Capacity. - size of plants and major equipment. how to change to meet future demand.
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