GMS 401 Chapter Notes - Chapter 2: Strategic Planning, Operations Management, Job Shop

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Kirk Bailey

Document Summary

Chapter 2 competitiveness, strategic planning, and productivity. Competitiveness: ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or services. Strategy: the long-term plans that determine the direction an organization takes to become (or remain) competitive. Strategic planning: is the managerial process that determine a strategy for the organization; and productivity is a measure of how efficiently the resources are being used. Competitiveness depends on the capabilities and performance of the company in its marketplace. An organization"s performance in the marketplace depends on the expectation of its customers for purchase of goods or services, mainly price, quality, variety, and timeliness. Key purchasing criteria: the major elements influencing a purchase: price, quality, variety, timeliness: price: the amount a customer must pay for the good or services. The more variety the wider the range of potential customers: timeliness: refers to the availability of goods or services when they are needed by the customer.