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60 Cards in this Set
- Front
- Back
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globalization means
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that domestic production and exporting may no longer be a viable business model; local production and exporting no longer guarantee success or even survival
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Six reasons why domestic business operations decide to change to some form of internation operations
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1 reduce costs (labor, taxes, tarrifs, etc) 2 improve the suplly chain 3 provide better goods and services 4 understand markets 5 learn to improve operations 6 attract and retain global talent
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maquiladoras
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mexican factors located along the U.S.- Mexico border that receive preferential tariff treatment
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World Trade Organization (WT))
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An international organization that promotes world trade by lowering barriers to the free flow of goods across borders
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NAFTA
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A free trade agreement between Canada, Mexico, and the U.S.
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European Union (EU)
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A European trade group that has 27 member states
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mission
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the purpose or rationale for an organization's existence
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strategy
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how an organization expects to achieve its missions and goals
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firms achieve missions in three conceptual ways
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1 differentiation 2 cost leadership 3 response (1 better/different 2 cheaper 3 more responsive)
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competitive advantage
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the creation of an unique advantage over competitors
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Differentiation
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distinguishing the offerings of an organization in a way that the customer perceives as adding value
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experience differentiation
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engaging a customer with a product through imaginative use of the five senses, so the customer "experiences" the product
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low-cost leaderships
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achieving maximum value as perceived by the customer
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response
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a set of values related to rapid, flexible, and reliable performance
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flexible response
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the ability to match changes in a marketplace where design innovations and volumes fluctuate substantially
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sustainable competitive advantage
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ability to change products and volume to respond to dramatic changes in product design and costs
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ten strategic om decisions
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1 goods & services design 2 quality 3 process and capacity design 4 location selection 5 layout design 6 human resources and job design 7 supply-chain management 8 inventory 9 scheduling 10 maintenance
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resources view
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a method managers use to evaluate the resources at their disposal and manage or alter them to achieve competitive advantage
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value-chain analysis
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a way to identify those elements in the product/service chain that uniquely add value
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five forces model
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a method of analyzing the five forces in the competitive environment *rivals, potential entrants, customers, supplies, and substitute products
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swot analysis
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a method of determing internal strengths and weaknesses and external opportunities and threats
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key success factors (KSFs)
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activities or factors that are key to achieving competitive advantage
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Core competencies
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a set of skills, talents, and activites in which a firm is particularly strong
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activity map
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a graphical link of competitive advantage, KSFs, and supporting activities
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international business
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a firm that engages in cross-border transaction
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multinational corporation (MNC)
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a firm that has extensive involvement in international business, owning or controlling facilities in more than one country
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international strategy
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a strategy in which global markets are penetrated using exports and licenses
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multidomestic strategy
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a strategy in which operating decisions are decentralized to each country to enhance local responsiveness
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global strategy
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a strategy in which operating decisions are centralized and headquarters coordinates the standardization and learning between facilities
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transnational strategy
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a strategy that combines the benefits of global-scale efficiencies with the benefits of local responsiveness
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swot analysis
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a method of determing internal strengths and weaknesses and external opportunities and threats
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key success factors (KSFs)
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activities or factors that are key to achieving competitive advantage
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Core competencies
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a set of skills, talents, and activites in which a firm is particularly strong
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activity map
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a graphical link of competitive advantage, KSFs, and supporting activities
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international business
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a firm that engages in cross-border transaction
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multinational corporation (MNC)
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a firm that has extensive involvement in international business, owning or controlling facilities in more than one country
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international strategy
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a strategy in which global markets are penetrated using exports and licenses
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multidomestic strategy
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a strategy in which operating decisions are decentralized to each country to enhance local responsiveness
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global strategy
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a strategy in which operating decisions are centralized and headquarters coordinates the standardization and learning between facilities
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transnational strategy
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a strategy that combines the benefits of global-scale efficiencies with the benefits of local responsiveness
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differntiation can be attained, for example, through...
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innovative design, by providing a broad product line, by offering excellent after-sale service, or through adding a sensory experience to the product or service offering
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cost leadership can be attained, for example, via...
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low overhead, effective capacity use, or efficient inventory management
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response can be attained, for example, by....
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offering a flexible product line, reliable scheduling, or speedy delivery
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different issues are emphasized during different stages of the product life style
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introduction, growth, maturity, and decline
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introduction
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company strategy: best period to increase market share, r&D engineering is critical. OM strategy: product design and development critical, frequent product and process design changes, short production runs, high production costs, limited models, attention to quality
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growth
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Company strategy: practical to change price or quality image, strengthen niche. OM strategy: forecasting critical, product and process reliability, competitive product improvements and options, increase capacity, shift toward product focus, enhance distribution
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maturity
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Company strategy: poor time to change image or price or quality, compettive costs become critical, defend market position. OM strategy: standardization, less rapid product changes (more minor changes), optimum capacity, increasing stability of process, long production runs, product improvement and cost cutting.
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Decline
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Company strategy: cost control critial. OM strategy: little product differentiation, cost minimization, overcapacity in the industry, prune line to elminate items not returning good margins, reduce capacity.
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A core competence may be a subset of, or a combination of....
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KSFs
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an operation manager's job is to...
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implement an OM strategy, provide competitive advantage, and increase productivity
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differntiation can be attained, for example, through...
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innovative design, by providing a broad product line, by offering excellent after-sale service, or through adding a sensory experience to the product or service offering
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cost leadership can be attained, for example, via...
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low overhead, effective capacity use, or efficient inventory management
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response can be attained, for example, by....
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offering a flexible product line, reliable scheduling, or speedy delivery
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different issues are emphasized during different stages of the product life style
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introduction, growth, maturity, and decline
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introduction
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company strategy: best period to increase market share, r&D engineering is critical. OM strategy: product design and development critical, frequent product and process design changes, short production runs, high production costs, limited models, attention to quality
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growth
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Company strategy: practical to change price or quality image, strengthen niche. OM strategy: forecasting critical, product and process reliability, competitive product improvements and options, increase capacity, shift toward product focus, enhance distribution
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maturity
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Company strategy: poor time to change image or price or quality, compettive costs become critical, defend market position. OM strategy: standardization, less rapid product changes (more minor changes), optimum capacity, increasing stability of process, long production runs, product improvement and cost cutting.
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Decline
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Company strategy: cost control critial. OM strategy: little product differentiation, cost minimization, overcapacity in the industry, prune line to elminate items not returning good margins, reduce capacity.
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A core competence may be a subset of, or a combination of....
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KSFs
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an operation manager's job is to...
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implement an OM strategy, provide competitive advantage, and increase productivity
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