Podcast
Questions and Answers
What is the name of the business unit that was founded by Dr. Hego Sutton and Michael Henderson in 1997?
What is the name of the business unit that was founded by Dr. Hego Sutton and Michael Henderson in 1997?
Lasik Vision Corporation
What was the initial price point that Lasik Vision Corporation offered for their LASIK surgery?
What was the initial price point that Lasik Vision Corporation offered for their LASIK surgery?
Michael Henderson, the co-founder of Lasik Vision Corporation, was an eye surgeon.
Michael Henderson, the co-founder of Lasik Vision Corporation, was an eye surgeon.
False
What did Michael Henderson believe was the key to Lasik Vision Corporation's success?
What did Michael Henderson believe was the key to Lasik Vision Corporation's success?
Signup and view all the answers
What was the name of the company that eventually acquired Lasik Vision Corporation in 2001?
What was the name of the company that eventually acquired Lasik Vision Corporation in 2001?
Signup and view all the answers
What did Lasik Vision Corporation claim to be in relation to laser eye surgery?
What did Lasik Vision Corporation claim to be in relation to laser eye surgery?
Signup and view all the answers
What was the main reason for the price war that the laser eye surgery industry became involved in?
What was the main reason for the price war that the laser eye surgery industry became involved in?
Signup and view all the answers
TLC Laser Eye Centers, a competitor of Lasik Vision Corporation, agreed to participate in the price war initiated by Lasik Vision.
TLC Laser Eye Centers, a competitor of Lasik Vision Corporation, agreed to participate in the price war initiated by Lasik Vision.
Signup and view all the answers
What was the name of the company that acquired control of Gimbel Vision International of Calgary in 2001?
What was the name of the company that acquired control of Gimbel Vision International of Calgary in 2001?
Signup and view all the answers
TLC Laser Eye Centers and Lasik Vision Centers Inc. merged with each other in 2001.
TLC Laser Eye Centers and Lasik Vision Centers Inc. merged with each other in 2001.
Signup and view all the answers
What was the competitive priority of Lasik Vision Corporation?
What was the competitive priority of Lasik Vision Corporation?
Signup and view all the answers
What are the potential repercussions of a low-price strategy? (Select all that apply)
What are the potential repercussions of a low-price strategy? (Select all that apply)
Signup and view all the answers
What would a company that chose a low-price strategy need to do to achieve success?
What would a company that chose a low-price strategy need to do to achieve success?
Signup and view all the answers
Study Notes
Operations Management
- Católoca Porto Business School offers an undergraduate degree in operations management
- The program emphasizes operations management, performance, and strategy, helping students understand their business
- The summary of the course covers introduction to operations management, cross-functional relationships, economic contribution, operations strategy, performance objectives, KPIs of operations, and the influence of customers, competitors, and life cycle
- The course examines changes in the business paradigm, including mass production (early 20th century), lean manufacturing (late 20th century), and mass customization (early 21st century), and the role of technology and management in these changes. Specific examples include Toyota's just-in-time manufacturing
- The operations management model demonstrates the transformation process, including inputs like materials, information, clients, resources (facilities, human resources) and output products/services. It also considers technology, competitors, competitiveness, positioning, strategic objectives, business questions (how to buy, what to produce, when to produce, process & layout, costs, and improvements).
- Operations management examples like IKEA highlight design, effective flow, staff contributions to success, location optimization, maintenance, and replenishment of products.
- Operations is a major function in many businesses (manufacturing, services, banking, construction, government, healthcare, retailing, transportation, wholesaling). Operations management includes accounting, distribution, engineering, finance, human resources, and marketing
- Examples of various operations functions are provided across different industries (church, fast food, furniture manufacturer) which demonstrate the different processes involved.
- Inter-functional relationships between operations (process), engineering, accounting & finance, and human resources are discussed.
- Operations management levels include supply network, operation, and process levels, with flow between operations, processes, and resources
- The economic contribution of operations excellence is crucial, encompassing lower costs, increased process efficiency, reduced errors, enhanced service, and higher revenue, improved utilization, and lower capital requirements.
- Operations strategy and performance are examined, including a hierarchy of corporate strategy, business strategy, and operations strategy, emphasizing key decisions and influences like economic, social, and political environments, customer dynamics, competitor activity, and financial constraints.
- Five key performance objectives are outlined: quality, speed, dependability, flexibility, and cost. Types of performance objectives are 'qualifiers' and 'order-winners', affecting customer perception of minimum standards and superior characteristics
- The impact of clients (like taxi vs. bus service) and competitors (like Domino's vs. Telepizza) on operations strategy are assessed in terms of the effect on performance objectives.
- The impact of the product/service lifecycle on performance objectives is analyzed.
Process Design and Analysis
- The next class will delve into process design and analysis.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
This quiz covers the fundamentals of operations management, including its historical evolution, cross-functional relationships, and performance metrics. Students will explore key concepts such as operations strategy, KPIs, and the impact of technology in changing business paradigms, along with examples like Toyota's just-in-time manufacturing.
