GMS 401 Chapter Notes - Chapter 2: Flexible Response, Competitive Advantage, Knowledge Society

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Omid Jahidi

Document Summary

Achieving competitive advantage through operations: each of the three strategies provides an opportunity for operations managers to achieve competitive advantage, competitive advantage implies the creation of a system that has a unique advantage over competitors. This helps create customer value in an efficient and sustainable way. Competing on cost: low-cost leadership tries to achieve maximum value with a low cost. This doesn"t mean low quality or low value. Competing on response: response refers to a flexible, reliable, and quick response, response includes a set of values related to rapid, flexible, and reliable performance. Flexible response is the ability to match changes in a marketplace where design innovations and volumes fluctuate substantially. Quickness is when the manager can develop systems that respond quickly. Strategy: strategy is an organization"s action plan to achieve its mission, each functional area has a strategy for achieving its mission and for helping the organization reach the overall mission.