Prof Fandal; Chapter 4: Operations Strategy
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| a firms ability to achieve market and financial superiority over its competitiors | Competitive Advantage
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| basic customer expectations, generally considered the minimum performance level required to stay in business | Order Qualifiers
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| goods and service features and performance characteristics that differentiate one customer benefit package from another and win the customer's business | Order Winners
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| those that a customer can determine prior to purchasing the goods and/or services (color, price, freshness, style, fit, feel, hardness, and smell) | Search Attributes
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| those that can be discerned only after purchase or during consumption or use (friendliness, taste, wearability, safety, fun, & customer satisfaction | Experience attributes
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| any aspects of a good or service that the customer must believe in, but cannot personally evaluate even after purchase and consumption (knowledge of a tax advisor) | Credence attributes
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| represent the strategic emphasis that a firm places on certain performance measures and operational capabilities within a value chain | Competitive Priorities
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| Cost, Quality, Time, Flexibility, Innovation | Key Competitive Priorities
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| Being able to make whatever goods and services the customer wants, at any volume, at any time for anybody, and for a global organization, form any place in the world. | Mass Customization
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| a pattern or plan that integrates an organizations major goals, policies, and action sequences into a cohesive whole. | Strategy
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| the strengths unique to that organization | Core Competencies
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| how an organization will execute its chosen business strategies | Operations Strategy
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| translating competitive priorities into operational capabilities by making a variety of choices and trade-offs for design and operating decisions. | Developing an operations strategy
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| Represents the strategic emphasis that a firm places on certain performance measures and operational capabilities within a value chain. | Competitive Priorities
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| The decisions management must make as to what type of process structure is best suited to produce goods or create services. | Operations Design Choices
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| Focuses on the non-process features and capabilities of the org. and includes the workforce, operating plans and control systems, quality control, organizational structure, compensation systems, learning and innovation systems, and support services | Infrastructure
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| Creating Competitive Advantage requires: | 1) Understanding customer needs and expectations and how value chain can best meet these through designing and delivering Customer Benefit Packages.
2) Building and leveraging operational capabilities to support desired competitive priorities.
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| T/F: Developing an operations strategy involves translating competitive priorities into operational capabilities by making a variety of choices and trade-offs for design and operation decisions. | TRUE.
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