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Chapter 2

Chapter 2.docx

3 Pages
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Department
Global Management Studies
Course Code
GMS 401
Professor
Carmen Schifellite

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Description
Chapter 2: Competitiveness, Strategic, Planning, and Productivity LO 1: Competitiveness Competitiveness - ability and performance of org in mkt compared to other org that offer similar good - use past experience & expertise as leverage - depends on capacities and performance of comp Key purchasing criteria - major elements influ purch: price, quality, variety, timeliness - Price - amt customer pay for good →choose lowest price - Quality - characteristic of good determined by design, material, performance, consistency - Variety - choices of models and options avail to customers - Timeliness - avail of good when need by customer - Order qualifiers - purchasing criteria customers perceive as min acceptability std for purch, can become order winner - quality, consistency, and on-time delivery Order winners - purch criteria cause org perceived as better than competition, can become order qualifier Competitive priorities - org compete by emphasizing key purchasing criteria in goods: - Cost - unit production of good to org → compete on cost = lower op cost - Quality - determining customers quality req for goods (consistently) - Flexibility - produce variety of good in same facility; customization; in/decrease quantity; multi- skilled workers - Delivery - consistently meet promised due dates by producing goods on time/quickly - as org get more competitive reach point where improving one priority achieved by reducing another priority = trade-off LO 2: Strategic Planning Strategic planning- managerial process determine strategy for org - L-T plans set new dir for org - should be done regularly - plan where want to be in few yrs → adj mission/goal → implement at dept level - decision aid: SWOT analysis (strength, weakness, opportunities, threats) Mission, Vision, and Values - during strategic planning - Mission - where org going now, products - Vision- where org want to be in future - Values - shared beliefs of org stakeholder (customers, suppliers) - important org have clear mission, vision, and values Goals and Objectives - mission/vision lead org goals - objective - specific goal with numerous values Strategies, Tactics, and Action Plans - Strategy - L-T plans determine dir org takes to become competitive (during strategic planning) - Functional strategies - L-T functional plans (financial, mkting, operations strategy) - Tactics - medium term plan used as part of strategy o specific than strategy, give guidance for policies - Action Plan - medium/S-T projects to accomplish specific objective assigned to indiv w/ deadline and resources needed - mission/vision → goals → org strategy → functional strategy → finance/mkting/operations → tactic → policies and action plan Operations Strategy - approach use dot guide operations function (policies, obj, actions plans) to get L-T adv over competition - at company level and functional level - cooperate w/ other functions - trade-off made b/ priorities (cost, quality, delivery, flexibility) 9 Strategic Decision Categories - Facility - specialize facility: by mkt, product ← depend on ecn production and distrib - Capacity - size of plants and equip, depend on future demand - Vertical Integration - ownership of supply chain (factors: cost, coordination, control) - Vendor Relations - competitive arms lengths vs. cooperation close relationship (strategic alliance) → how quality of goods assured - Product Types and Technology - process type: job shop, batch assembly line, contin flow o Product process matrix - relate product characteristics to process characteristics o trade-off req in process - Human Resources - staff rewarded to achieve comp goals - Quali
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