MGM101H5 Chapter Notes - Chapter 11: Operations Management, University Of Toronto Mississauga, Customer Service
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MGM101H5 Full Course Notes
Verified Note
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Document Summary
When we visualize the interconnectivity of these three business system components, we should conclude the following: Strategy is what we want to accomplish. The business structure should provide the controls and the formal communication and responsibility framework that will guide the organization as it seeks to realize its strategy. Operations are understood to be the actual processes employed, which, when (cid:272)o(cid:373)(cid:271)i(cid:374)ed (cid:449)ith the utilizatio(cid:374) of the orga(cid:374)izatio(cid:374)"s (cid:272)apital assets, e(cid:374)able strategic outcomes to be actualized. These three components and the corresponding actions take place within the organizations area result in getting the right product or service to the right customer at the right place and right time for the right price. Successful businesses look to establish within their business systems competitive advantages that enable them to deliver their products and/or services to their targeted market segments in a manner superior to that of the competition.
