Operations Strategy

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Last updated 5:54 PM on 9/18/23
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17 Terms

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Strategic Management Process
The process of determining long-term goals and objectives of an enterprise, and developing courses of action and resource allocation to achieve these goals.
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Deliberate Strategy
Planned strategies that are consciously developed and implemented by an organization.
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Emergent Strategy
Unplanned strategies that arise as a result of unforeseen circumstances or changes in the external environment.
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Usual Strategic Planning
Traditional approach to strategic planning that follows a predetermined course of action.
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Serendipitous Strategic Planning
Strategic planning that is flexible and adaptable to emergent opportunities and changes in the environment.
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Mission and Objective
The purpose and goals of an organization that guide its strategic decision-making.
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Environmental Scanning
The process of analyzing the external and internal factors that may impact the organization's strategy.
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Organizational Strategy
A plan that aligns an organization's strengths and weaknesses with emerging opportunities and threats to achieve its objectives.
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Implementation
The process of putting the chosen strategy into action.
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Control
Monitoring and evaluating the implementation of the chosen strategy to ensure its effectiveness.
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Operations/Manufacturing Strategy
A strategy that focuses on optimizing the production and delivery of goods and services.
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Meaningful Differentiation
A strategy that aims to differentiate a business by offering unique and superior products or services.
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Agility
The ability of an organization to quickly respond and adapt to changes in the business environment.
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Cost Leadership
A strategy that aims to offer products or services at the lowest price in the industry.
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SWOT Analysis
An analysis of an organization's internal strengths and weaknesses, as well as external opportunities and threats.
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Five Forces Model
A framework developed by Michael Porter to analyze the competitive forces within an industry.
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Optimization
The process of maximizing the utilization of resources to achieve a desired objective.