Term
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Definition
| Ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or services |
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Term
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Definition
| The long-term plans that determine the direction an organization takes to become (or remain) competitive |
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Term
| Define: Strategic Planning |
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Definition
| The managerial process that determines a strategy for the organization |
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Term
| Define: Key Purchasing Criteria |
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Definition
| The major elements influencing a purchase: price, quality, variety, and timeliness |
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Term
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Definition
| Purchasing criteria that customers perceive as minimum standards of acceptability to be considered for purchase |
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Term
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Definition
| Purchasing criteria that cause the organization to be perceived as better than the competition |
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Term
| Define: Competitive Priorities |
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Definition
| The importance given to operations characteristics: cost, quality, flexibility, and delivery |
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Term
| What is the 'Best Value' Equation? |
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Definition
quality, timeliness, etc. /
price |
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Term
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Definition
A decision aid used in strategic planning
Strengths
Weaknesses
Opportunities
Threats |
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Term
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Definition
| Where the organization is going now |
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Term
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Definition
| Where the organization desires to be in the future |
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Term
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Definition
| Shared beliefs of the organization's shareholders |
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Term
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Definition
| Medium-term plans used as components of a strategy |
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Term
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Definition
| A medium or short-term project to accomplish a specific objective, assigned to an individual, with a deadline and the resources needed |
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Term
| Define: Operations Strategy |
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Definition
| The approach that is used to guide the operations function |
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Term
| How do you form an Operations Strategy? (6) |
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Definition
1. Determine operations requirements of the organizational goals
2. Categorize customers into types
3. Group product lines into types
4. Conduct an operations audit to determine the strengths/weaknesses of the current operations strategy in each of the nine strategic decision categories
5. Assess the degree of focus at each plant
6. Develop an operations strategy and re-allocate product lines to plants if necessary |
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Term
| Define: Time-Based Competition |
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Definition
| Strategy that focuses on reduction of time needed to accomplish tasks |
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Term
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Definition
| Buying a part of a good/service or a segment of production/service process from another company, a supplier |
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Term
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Definition
A measure of productive use of resources, usually expressed as the ratio of output to input
Productivity = Output/
Input |
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Term
| What is Productivity Growth? |
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Definition
The increase in productivity from previous period of the current period relative tot he productivity in the previous period
Productivity Growth = Current Period Productivity -Previous Period Productivity /
Previous Period Productivity |
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Term
| Why is measuring service productivity more problematic than manufacturing productivity? (3) |
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Definition
- Services are partly intangible
- They involve intellectual activities
- The output has a high degree of variability |
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Term
| What are some factors that affect productivity? (3) |
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Definition
- Methods and Management
- Equipment and Technology
- Labour |
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