Term
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Definition
| must include company strategy, sustainability, and stakeholders |
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Term
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Definition
| how a firm intends to create and sustain value for shareholders |
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Term
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Definition
| must meet these needs without impairing the ability of future generations to meet their needs |
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Term
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Definition
| individuals and organizations influenced directly or indirectly by actions |
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Term
| Triple Bottom Line Strategy |
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Definition
| considers evaluating the firm against 3 criteria: social (fair and beneficial towards labor, community, region), economic (obligated to compensate shareholders), environmental (cradle-to-grave assessments) |
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Term
| Operations and Supply Chain Strategy |
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Definition
| concerned with setting broad policies and plans for using resources of a firm and must be integrated with corporate strategy |
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Term
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Definition
| relates to the core business processes needed to run the organization; can spal all business functions; reflected directly in operation costs; must anticipate future needs |
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Term
| Closed Loop Strategy Process |
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Definition
Develop/Refine
Translate
Plan |
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Term
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Definition
| forecasting how business conditions that impact strategy are going to change |
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Term
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Definition
| major steps taken to drive success |
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Term
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Definition
Cost/Price
Quality
Delivery Speed
Delivery Reliability
Coping with change in demand
Flexibility and New Product Intoduction speed |
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Term
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Definition
make product or deliver service cheap
only one cheapest producer
typically indistiguishable goods
increased profits due to increased unit volume
more competition; higher fail rate |
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Term
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Definition
make great product or deliver great service
2 characteristics: design quality; process quality |
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Term
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Definition
| set of features the P/S contains; design of P/S |
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Term
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Definition
realtes to reliability of P/S
produce defect free P/S |
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Term
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Definition
make or deliver P/S quickly
on-site repair |
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Term
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Definition
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Term
| Coping with Change in Demand |
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Definition
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Term
| Flexibility and New Product Introduction Speed |
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Definition
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Term
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Definition
| when a company seeks to match the benefits of a successful position while maintaining its existing position (run) |
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Term
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Definition
| criterion that differentiates P/S of one firm from another's |
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Term
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Definition
| screening criterion that permits a firms products to even be considered as candidates for purchase |
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Term
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Definition
fitting operational activities to strategy
competitive advantage comes from how a firm's activites fit with a reinforce each other
all activities relate to one another |
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Term
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Definition
| shows how a company's strategy is delivered through a set of tailored activities |
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Term
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Definition
| the skills that differentiate the frim from competition |
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Term
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Definition
| how well a firm is using its resources |
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