MGMT 399 Exam 1
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MGMT 399 Exam 1
MGMT 399 Exam chapter S2
Why is the bar getting higher?
better quality, higher productivity, lower cost, and the ability to respond quickly to customer needs are more important than ever
How effectively an organization meets the wants and needs of customers relative to others that offer the similar goods and service
Organizations compete through some combination of their _______ and ________ functions.
marketing and operations
customer wants and needs, pricing, advertising and promotion
Why do some organizations fail?
Neglect operations strategy, failing to take advantage of strengths and opportunities, failing to recognize competitive threats....
mission, goals, organizational strategies, functional strategies, tactics
reason for an organization's existence
states the purpose of the organization and should answer the question of " What business are we in?"
________ statement serves as the basis for organizational goals
provide detail and the scope of the mission and serve as a basis for organizational strategies
a plan for achieving goals and serves as a roadmap for reaching the organizational destinations
overall strategies that relate to the entire organization and support the achievement of organizational goals and missions
strategies the relate to each of the functional areas and that support achievement of the organizational strategy
functional level strategy
the methods and actions taken to accomplish strategies the "how to" part of the process
the actual "doing" part of the process
the special attributes or abilities that give an organization a competitive edge
Effective strategy formulation requires taking into account
core competencies, environmental scanning (SWOT)
successful strategy formulation also requires taking into account
order qualifiers (meet the minimum standard) and order winners (is better than the competition)
Key external factors that affect strategy
economic conditions, political conditions, legal environment, technology, competition, markets
key internal factors that affect strategy
hr, facilities and equip, financial resources, customers, products and services, technology, suppliers
the approach, consistent with organization strategy, that is used to guide the operations functions
strategy that focuses on quality in all phases of an organization
quality based strategy
a measure of the effective of resources, usually expressed as the ratio of output to input
productivity measures are useful for
an operating unit's performance over time,
the performance of an entire industry.
factors affecting productivity
methods, quality, capital, management, technology