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Operations Strategy in a Global Environment

21 important questions on Operations Strategy in a Global Environment

What is the purpose of developing missions and strategies in global operations?

The purpose of developing missions and strategies in global operations is to define the overall direction and goals of the organization. It helps in setting a roadmap for achieving competitive advantage and directing the operational activities towards long-term success.

What is cost leadership approach to competitive advantage?

Cost leadership approach to competitive advantage focuses on achieving the lowest cost of production and operation in the industry. This can be done through economies of scale, efficient processes, and effective cost control measures. The goal is to offer products or services at a lower price compared to competitors while maintaining profitability.

What is differentiation approach to competitive advantage?

Differentiation approach to competitive advantage involves creating unique and distinct products or services that are perceived as superior by customers. This can be achieved through innovation, superior quality, customer service, or unique features. The goal is to differentiate the offerings in a way that customers are willing to pay a premium price for the added value.

What is response approach to competitive advantage?

The response approach to competitive advantage is a strategy where a company focuses on responding effectively to the actions of its competitors. This approach involves analyzing and understanding the actions and strategies of competitors and then formulating responses accordingly. By constantly monitoring and adapting to market changes and competitor moves, a company can gain a competitive edge and maintain its market position.

How can an organization achieve competitive advantage through operations?

An organization can achieve competitive advantage through operations by effectively managing its operational activities to create value for customers. This can be done by improving efficiency, quality, flexibility, and responsiveness in operations. By continuously improving these aspects, an organization can gain a competitive edge over rivals and provide superior value to customers.

What are key success factors and core competencies?

Key success factors are the factors that a company must achieve to be successful in its industry. Core competencies are the unique strengths that give a company a competitive advantage over its rivals.

What are some issues in operations strategy?

Some common issues in operations strategy include resource allocation, capacity planning, supply chain management, quality control, and technological advancements.

What is strategy development and implementation?

Strategy development is the process of formulating a plan to achieve a specific goal. Implementation is the execution of the strategy to achieve the desired outcomes.

What happens during the introduction stage of the product life cycle?

During the introduction stage, the product is launched in the market. Sales are typically low, and the company incurs high costs for product development and promotion.

What happens during the growth stage of the product life cycle?

During the growth stage, sales and profits start to increase rapidly. The product gains market acceptance, and competitors may begin to enter the market.

What happens during the maturity stage of the product life cycle?

During the maturity stage, sales reach their peak and eventually stabilize. Competition becomes intense, and price competition may arise.

What happens during the decline stage of the product life cycle?

During the decline stage, sales and profits start to decline. The product may become outdated, or new alternatives may emerge in the market.

What are strengths in SWOT analysis?

Strengths are the internal factors that give an organization an advantage over its competitors. Examples include a strong brand, loyal customer base, or efficient production processes.

What are weaknesses in SWOT analysis?

Weaknesses are the internal factors that place an organization at a disadvantage compared to its competitors. Examples include poor financial resources, limited product range, or lack of marketing expertise.

What are opportunities in SWOT analysis?

Opportunities are the external factors that can be advantageous to an organization. Examples include emerging markets, technological advancements, or changes in consumer preferences.

What are threats in SWOT analysis?

Threats are the external factors that could potentially harm an organization's performance. Examples include intense competition, economic downturns, or changing government regulations.

What is Porter's Five Forces model?

Porter's Five Forces model is a framework developed by Michael Porter that helps analyze the competitive forces in an industry and assess the attractiveness of entering or operating in that industry.

What is the threat of new entrants in Porter's Five Forces model?

The threat of new entrants refers to the possibility of new competitors entering the industry. Barriers to entry such as high capital requirements or strong brand loyalty can affect this force.

What is the bargaining power of buyers in Porter's Five Forces model?

The bargaining power of buyers refers to the influence that customers have on a company's pricing and terms. Factors such as buyer concentration or the availability of substitute products impact this force.

What is the bargaining power of suppliers in Porter's Five Forces model?

The bargaining power of suppliers refers to the influence that suppliers have on the prices and availability of inputs. Factors such as supplier concentration or the uniqueness of their inputs influence this force.

What is the threat of substitute products or services in Porter's Five Forces model?

The threat of substitute products or services refers to the availability of alternative products that can fulfill the same consumer needs. Factors such as price-performance trade-offs or ease of switching influence this force.

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CID2001 Operations Management

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Operations Strategy in a Global Environment

21 important questions on Operations Strategy in a Global Environment

What is the purpose of developing missions and strategies in global operations?

What is cost leadership approach to competitive advantage?

What is differentiation approach to competitive advantage?

What is response approach to competitive advantage?

How can an organization achieve competitive advantage through operations?

What are key success factors and core competencies?

What are some issues in operations strategy?

What is strategy development and implementation?

What happens during the introduction stage of the product life cycle?

What happens during the growth stage of the product life cycle?

What happens during the maturity stage of the product life cycle?

What happens during the decline stage of the product life cycle?

What are strengths in SWOT analysis?

What are weaknesses in SWOT analysis?

What are opportunities in SWOT analysis?

What are threats in SWOT analysis?

What is Porter's Five Forces model?

What is the threat of new entrants in Porter's Five Forces model?

What is the bargaining power of buyers in Porter's Five Forces model?

What is the bargaining power of suppliers in Porter's Five Forces model?

What is the threat of substitute products or services in Porter's Five Forces model?

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