The Global Environment and Operations Strategy Flashcards Preview

Operations Management > The Global Environment and Operations Strategy > Flashcards

Flashcards in The Global Environment and Operations Strategy Deck (28)
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1
Q

Maquiladoras

A

Mexican factories located along the U.S – Mexico border that receive preferential tariff treatment

2
Q

World Trade Organization (WTO)

A

An international organization that promotes world trade by lowering barriers to the free flow of goods across borders

3
Q

NAFTA

A

A free trade agreement between Canada, Mexico, and the United States

4
Q

European Union (EU)

A

A European trade group that has 27 member states

5
Q

Mission

A

The purpose or rationale for an organization’s existence

6
Q

Strategy

A

How an organization expects to achieve its missions and goals

7
Q

Competitive advantage

A

The creation of a unique advantage over competitors

8
Q

Differentiation

A

Distinguishing the offerings of an organization in a way that the customer perceives as adding value

9
Q

Experience differentiation

A

Engaging a customer with a product through imaginative use of the five senses, so the customer “experience” the product

10
Q

Low-cost leadership

A

Achieving maximum value as perceived by the customer

11
Q

Response

A

A set of values related to rapid flexible, and reliable performance

12
Q

Operations decisions

A

The strategic decisions of OM are: goods and service design, quality, process design, location selection, layout design, human resources and job design, supply-chain management, inventory, scheduling, and maintenance

13
Q

Resources view

A

A method managers use to evaluate the resources at their disposal and manage or alter them to achieve competitive advantage

14
Q

Value-chain analysis

A

A way to identify those elements in the product/service chain that uniquely add value

15
Q

Five forces analysis

A

A method of analyzing the five forces in the competitive environment

16
Q

SWOT analysis

A

A method of determining internal strengths and weaknesses and external opportunities and threats

17
Q

Key success factors (KSFs)

A

Activities or factors that are key to achieving competitive advantage

18
Q

Core competencies

A

A set of skills, talents, and activities in which a firm is particularly strong

19
Q

Activity map

A

A graphical link of competitive advantage, KSFs, and supporting activities

20
Q

International business

A

A firm that engages in cross-border transactions

21
Q

Multinational corporation (MNC)

A

A firm that has extensive involvement in international business, owning, or controlling facilities in more than one country

22
Q

International strategy

A

A strategy in which global markets are penetrated using exports and licenses

23
Q

Multidomestic strategy

A

A strategy in which operating decisions are decentralized to each country to enhance local responsiveness

24
Q

Global strategy

A

A strategy in which operating decisions are centralized and headquarters coordinates the standardization and learning between facilities

25
Q

Transnational strategy

A

A strategy that combines the benefits of global-scale efficiencies with the benefits of local responsiveness

26
Q

Global strategy

A

A strategy in which operating decisions are centralized and headquarters coordinates the standardization and learning between facilities

27
Q

Transnational strategy

A

A strategy that combines the benefits of global-scale efficiencies with the benefits of local responsiveness

28
Q

Maquiladoras

A

Mexican factories located along the U.S – Mexico border that receive preferential tariff treatment