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

Explain the consumers have a high debt-to-income ratio, In the U.S., consum...

In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because a. of steady supply of loanable funds in the economy dur

Explain criminal prosecutions hurt innocent shareholders, Respondeat superi...

Respondeat superior is the theoretical basis for holding companies criminally liable for actions of their employees. Companies oftentimes have little defense against prosecution. C

Distinguish among a general benefit and a specific benefit, Distinguish bet...

Distinguish between a general benefit and a specific benefit. Why do customers respond positively to specific benefits?

By whom dual factor theory was propose, By whom Dual factor theory was prop...

By whom Dual factor theory was propose? Dual factor theory has been proposed by Herzberg.

What are the various managing inventory tools, Q. What are the various mana...

Q. What are the various managing inventory tools? Raw material Materials and elements used to assemble or manufacture finished goods. Work-in-progress Incomplete f

Calculate a profit and loss statement, Calculate a profit and loss statemen...

Calculate a profit and loss statement and balance sheet (including calculating a missing figure. Capital): Asset, liability, owner's equity, revenue and expense amounts for Almo

How many cells must be used to represent each constraint, In excel how many...

In excel how many cells should be used to represent each constraint?

Stepping stone method, Stepping Stone Method: Continue the above ex...

Stepping Stone Method: Continue the above example containing the initial basic feasible solution obtained by least cost rule. In this there six empty cell :91,1) )1

Explain how do these policies and practices align, Analyze Apple, Inc.'s le...

Analyze Apple, Inc.'s legal and compliance policies and practices. How do these policies and practices align with Apple, Inc.'s legal compliance standards? If alignment is n

Explain briefly the vrooms expectancy theory of motivation, Question 1: ...

Question 1: More and more organizations are showing greater reliance on team building and team work as opposed to individual work. Please discuss. i. Give characteristics o

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