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What is the difference between business and operations strategy?
Answer: There is a hierarchy of strategic decision making, each focused on a different time horizon and at varying levels of detail. Corporate strategy considers the longest term and the most complex environment where risks are greatest. Business strategy considers industry level and operations along with other functional strategies, operates at the level of the firm. Operations strategy is concerned with the activities necessary to produce goods and services.
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Briefly discuss each of the seven periods in the evolution of purchasing and supply management. What do you forecast for the future?
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