Chpater 2 Quiz

Competitiveness, Strategy, and Productivity

Competitiveness

How effectively an organization meets the wants and needs of the customers relative to others that offer similar goods or services

Mission

The reason for an organization’s existence

Mission Statement

States the purpose of the organization

Goal

Provide details and the scope of the mission (organizational destinations)

Serve as the basis for organizational strategies

Strategy

A plan for achieving organizational goals

Tactics

The methods and actions taken to accomplish strategies (“how to” part of the process)

Operations

The actual “doing” part of the process

Core Competencies

The special attributes or abilities that give an organization a competitive edge

Competency

based strategies

Inductive Strategy

Identify the competency and build the organization around it

SWOT

Strengths, weaknesses, opportunities, threats

Order Qualifiers

Characteristics that customers perceive as minimum standards of acceptability for a product or service to be considered as a potential for purchase

Order Winners

Characteristics of an organization's goods or services that cause it to be perceived as better than the competition

Mass Customization

The ability to create a wide variety of products that use many common and mass

Agile Manufacturing

The ability of a company to thrive in a competitive environment of continuous change

Technological Leadership

The advantage gained by the initial significant occupant of a market segment (The First Mover Matrix)

Operations Performance Metrics

Productivity measures are useful for tracking units' performance over time and judging the performance of an entire industry or country

Process Yield

A useful measure related to productivity that involves products. The ratio of the output of a good product to the quantity of raw material input

Michael E Porter

Five Forces Model

Kaplan and Norton

The Balanced Scorecard Approach

Joseph Schumpeter

Creative Destruction (Economic Innovation)