Textbook Notes (369,204)
Canada (162,462)
GMS 401 (203)
Chapter 2

Chapter 2: Competitveness, Strategic Planning and Productivity

4 Pages
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Department
Global Management Studies
Course Code
GMS 401
Professor
Sam Lampropoulos

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Description
Chapter 2 competitiveness Strategicplanning and productivity A What is competitivenessCompetitiveness ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or servicesStrategythe long term plans that determine the direction an organization takes to becomeor remain competitive Strategic planning the managerial process that determines a strategy for the organizationB How business organizations compete with one anotherAn organizations performance in the marketplace depends on the expectation of its customers for purchasing of goods or servicesmainly pricequalityvariety and timeliness Price is the amount a customer must pay for the good or servicesQuality refers to characteristics of a good or services determined by its design material workmanship performance and consistency Variety refers to the choices of models and options available to customersTimeliness refers to the availability of goods or services when they are needed by the customer Value Quality timelinessetc priceTwo categories of purchasing criteriao Order qualifier purchasing criteria that customers perceive as minimum standards of acceptability to be considered for purchases o Order winners purchasing criteria that cause the organization to be perceived as better the competitiono Competitive priorities the importance given to operations characteristics costqualityflexibility and deliveryCost is the unit production of good or performance of a service to the organization Quality from an organizations perspective means determing customers quality requirementFlexibility refers to be being able to produce a variety of goods or services in the same facilityDelivery a refers to being able to consistently meet promised due dates by producing goods or performing services on time or quicklyC What is Mission Vision StrategyMissionis where the organization is going now its products and its markets
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