ch 2 PP: Flashcards
Competitiveness
the ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or services
Order qualifiers
minimum standards of acceptability for purchase
allow product to be considered
Order winners
create perception of being better than the competition
allow product to be purchased
Mission
Where the organization is going now
Vision
Where the organization desires to be in the future
Values
Shared beliefs of the organization’s stakeholders
Goals and Objectives
Provide detail and scope of mission
Strategies
Plans that determine direction for achieving organizational goals
Tactics and Action Plans
The methods and actions taken to accomplish strategies
Operations strategy
The approach that is used to guide the operations function
consistent with organization strategy
support competitive priorities
Time-based Competition
Focuses on reduction of time needed to accomplish tasks
Outsourcing
buying a part of a good/service or a segment of production/service process from an outside supplier
Productivity
A measure of the effective use of resources, usually expressed as the ratio of output to input
Productivity ratios can be computed for:
a worker
a department
an organization
a country
Productivity Growth
(Current Period Productivity – Previous Period Productivity) / Previous Period Productivity
