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Competitive Advantage & Strategy

Essay by   •  February 17, 2019  •  Research Paper  •  286 Words (2 Pages)  •  69 Views

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Competitive Advantage & Strategy

  • Advantages of CI (continuous improvement)
  • How to compete – Service, information technology, innovation/product design, agility, time.
  • TQ is a part of a long chain of customers & suppliers.
  • Strategy- the pattern of decisions that determines and reveals a company’s goals, policies, and plans to meet the needs of its stakeholders
  • What is strategic planning-– the process by which members of an organization envision its future and develop the necessary procedures and operations to carry out that vision
  • How to gain a competitive advantage – market superiority, added value (quality relative to price),
  • Outsource versus vertical integration
  • Core competencies.
  • Balanced scorecard – need, effectiveness, lagging- what has transpired, leading- what going to happen in the future
  • Performance measures – service standards (customer contact)
  • Agility versus flexibility- allows you to adapt.  How its applied, advantages, etc.

Consumer- Supplier relationships

  • Supplier relations – practices.
  • Customer engagement – characteristics.
  • Customer satisfaction – product attributes.
  • What are/is moments of truth – customer relationships? – if the
  • Customer Relationships.  What they are, how to improve, how to manage.

Practices for Dealing with Suppliers

  • Base purchasing decisions on quality as well as cost
  • Reduce the number of suppliers
  • Establish long-term contracts
  • Measure and certify supplier performance
  • Develop cooperative relationships and strategic alliances

Organizational design

  • Traditional structure (mechanistic) highly structured, bureaucratic, division or labor, slow, lots of layers.
  • Characteristics of flatter organization – less reporting structure and tasks for managers  and supervisors but not for senior management.
  • Functional structure most often used.
  • Types of leadership creativity/perspective
  • Understand the difference between core and support processes/functions.
  • Internal versus external customers.
  • Define a supply chain.  What encompasses a value chain?
  • Work design approaches  

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