Terminology of operation strategy, Operation Management

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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.

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