Terminology of operation strategy, Operation Management

Assignment Help:

Terminology of Operation Strategy 

It might be useful just to put some description to the terms used repetitively in this section. 

Terminology of strategy 

Mission or vision statement - The organisation's raison d'être and values; open and acknowledged statement of the primary purpose of the organisation; desired outcome; future state; the aspirations of the organisation.

Strategies - Policies which will achieve the long term direction (assessed against possible success)

Goal or objectives - Aim or purpose clearly stated in understandable terms

Distinctive competencies - Resources, relationships, processes or skills which provide 'competitive advantage'

Control - Monitoring of actions to assess the effectiveness of strategies and actions 

Stakeholders - Those with an interest or links with the organisation: shareholders, staff suppliers, the government, local authority and community, customers.


Related Discussions:- Terminology of operation strategy

What are disadvantages of using single sourcing strategies, What are the di...

What are the disadvantages of using single sourcing strategies? Disadvantages of using single sourcing strategies: a. Could merely one single supplier into the industry

Explain how would you overcome these challenges, Describe some of the chall...

Describe some of the challenges of implementing a continuity strategy for an organization. How would you overcome these challenges? What risks do you run by not implementing

Limitations of basic wage rate, What is the concept of comparative norm in ...

What is the concept of comparative norm in determining the basic wage rate? Why there are limitations to this approach? What has led companies to grant various forms of individual

Natural resource - factor affecting productivity improvement, Natural Resou...

Natural Resources - Factors Affecting Productivity Improvement Natural resources The manner in which countries use the resources at their disposal is of major importance,

Explain functional structure with simple structure, Explain how the followi...

Explain how the following somewhat match each other: • functional structure with simple structure • divisional structure with departmentalization by product • machine bureaucracy w

Explain what is an interim plan, Answer the following questions: 1) ...

Answer the following questions: 1) What is the difference between a task dependency and a task constraint? 2) Give a real-world situation when you might used the foll

Explain detail the five measures that unions, Detail the five measures that...

Detail the five measures that unions have taken in the collective bargaining process to introduce provisions that would protect employees displaced or laid off due to technology ch

Define predict the future of the movie rental industry, Evaluate Netflix's ...

Evaluate Netflix's current strategy and determine if the strategy is sustainable. Identify a Netflix strength and suggest how this strength may be leveraged in the market place to

Describe the factors influencing customer behaviour, Question : Show or...

Question : Show origin of Collaborative Planning, Replenishment, and Forecasting (CPFR) Origin from CFAR How CFAR standard was renamed CPFR Continuing improvements

Explain how will learning managerial problem solving help, How will learnin...

How will learning managerial problem solving help you later in life in you job?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd