TOPIC 2 : OPERATIONS STRATEGY AND COMPETITIVENESS

What is the definition of mission in the context of operations management?

• The purpose of the organization

• The action plan to achieve the mission

• The integration of core values

• The focus on quality and innovation

What is the definition of mission in the context of operations management?

• The purpose of the organization

• The action plan to achieve the mission

• The integration of core values

• The focus on quality and innovation

What are the three strategic approaches to competitive advantage?

• Quality, variety, customization

• Efficiency, value, cost

• Mission, strategy, core competencies

• Innovation, customer satisfaction, employee satisfaction

What are the significant key success factors in global operations?

• National literacy rate, population, transportation infrastructure

• Political stability, work ethics, tax rates

• Availability of raw materials, interest rates, inflation

• All of the above

Why do organizations choose to form international operations?

• To improve the supply chain

• To reduce costs and exchange rate

• To understand markets

• All of the above

What is the purpose of a mission statement?

• To define ethical behavior among managers

• To satisfy customer's needs and wants

• To attract and retain global talent

• To reduce risks associated with changing currency values

What are the challenges of operating in a different culture?

• Reconciling social and cultural behavior

• Understanding market trends

• Improving operations

• Reducing costs

What factors should be considered in global location decisions?

• Language variations, political stability, export restrictions

• Product liability laws, interest rates, availability of raw materials

• Literacy rate, rate of innovation, turbulence of change

• All of the above

What is the role of international learning in operations?

• To reduce costs and improve operations

• To attract and retain global talent

• To foster ethical decision making

• To learn from management innovations in different countries

What are the benefits of global organizations in terms of employment?

• Greater growth opportunities and insulation against underemployment

• Improved inventory management and production competence

• Access to great ideas from around the world

• Better and quicker service to customers