Chapter_2 - MSB 354 2 Competitiveness, Strategy, and...

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Unformatted text preview: MSB 354 2 Competitiveness, Strategy, and Productivity 2-1 2-2 Learning Objectives  List and briefly discuss the primary ways that business organizations compete .  List five reasons for the poor competitiveness of some companies.  Define the term strategy and explain why strategy is important for competitiveness .  Contrast strategy and tactics . 2-3 Learning Objectives  Discuss and compare organization strategy and operations strategy , and explain why it is important to link the two .  Describe and give examples of time-based strategies, quality-based strategies.  Define the term productivity and explain why it is important to the organizations and to countries.  List some of reasons for poor productivity and some ways of improvement . Introduction Asian firms are having a difficult time competing with foreign firms in both the domestic and international markets. i.e., Many foreign firms have more experience in production or have enjoyed a more powerful brand presence . We might have grown up using products produced by foreign firms on an everyday basis and we have developed a great deal of respect for the quality of foreign products. We are all even more familiar with names like Apple, HP, Nokia, Ford, GE, IBM, Hershey, Coca-Cola, and PepsiCo as they are with Honda, Toyota, BenQ, Sony , and Samsung . 2-4 Introduction (con.)  In order to be competitive, c ompanies must be productive and also to be competitive, they must have some well thought out approach, plan or strategy on how to achieve this position.  In other words, we need to understand why it is important to learn what productivity is, how we measure it, what factors affect it, and how firms can improve it .  Business firms compete with each other in a variety of ways. What are key competitive factors which are of primary concern in today’s global business environment.  We also need to focus on Operations Strategy with special attention to the newer strategies based on quality and time. 2-5 Competitiveness 2-6 “ How effectively an organization meets the wants and needs of customers relative to others that offer similar goods or services.” Companies must competitive in order to sell their goods and services in the market. i.e., Competitiveness is an important factor in determining whether a company prospers or not. Marketing and Operation have a major impact on competitiveness 2-7 Marketing influences competitiveness in several ways  Identifying consumer wants and needs - is a basic input in organization’s decision making . - direct us to meet customer expectations by understanding customers - lead to perfect match between customer requirements wants and needs) with organization output(goods and services)  Pricing- a key factor in consumer buying decisions - understand the trade-off consumers make between price and others  Advertising and Promotion - inform potential customers about features of their products and service and attract buyers 2-8...
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This note was uploaded on 12/06/2011 for the course MSB 354 taught by Professor Nam during the Fall '11 term at Korea Advanced Institute of Science and Technology.

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Chapter_2 - MSB 354 2 Competitiveness, Strategy, and...

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