10 Questions
What does the strategy of producing and selling environment-friendly products aim to achieve?
To reduce pollution and waste
Which type of strategy focuses on maintaining or improving the quality of an organization's products or services?
Quality-based strategies
What is the formula for calculating productivity using multi-factor measures?
output/(total inputs)
What do Order Qualifiers represent for customers?
Characteristics that customers see as minimum standards for purchase consideration
Which type of strategy focuses on reducing the time needed to accomplish tasks?
Time-based strategies
What are the three critical factors in developing a business strategy?
Mission, environmental scanning, and core competencies
What is the primary focus of an Operations Strategy?
Developing competitive capabilities
When would a company most likely adopt a price or cost strategy?
When the products offered are homogeneous in nature
What characterizes a quality strategy according to the text?
Producing and selling high-quality goods and services
How does competitiveness relate to meeting customer wants and needs?
By effectively meeting customer expectations compared to competitors
Explore the critical factors in developing a business strategy, including defining business goals, understanding the market through environmental scanning, and identifying company strengths or core competencies. Learn about competitiveness and how organizations compete using operations like product and service design, cost, location, and quick response.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
