GMS 401 Chapter Notes - Chapter 2: Vertical Integration, Swot Analysis, Strategic Planning
5 Jul 2014
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Document Summary
Competitiveness depends on the capabilities and performance of the company in marketplace its marketplace: using teamwork and rewards, an organization can develop its capabilities (also called core competencies) an organizations performance in the marketplace depends on the expectation of its customers for purchase of goods or services, key purchasing criteria: price quality variety timeliness customer service/convenient location. From an organization"s point of view, these are called competitive priorities: competitive priorities: the importance given to operations characteristics: cost, quality, flexibility and delivery low cost: cost, quality, flexibility, delivery high performance, consistent quality variety, quantity flexibility rapid delivery, on time delivery. Strategic planning strategic planning is the process of determining a strategy, long term plans that will set a new direction for an organization, and implementing it through allocation of resources and action plans: some companies only perform strategic planning when they face a crisis: ex: significant drop in sales decision aid = swot, strengths, weaknesses, opportunities, threats.
