GMS 401 Chapter Notes - Chapter 2: Vertical Integration, Outsourcing, Operations Management
14 Oct 2012
School
Department
Course
Professor
Document Summary
Competitiveness the ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or services. Strategy the long term plans that determine the direction an organization takes to become (or remain) competitive. Strategic planning the managerial process that determines a strategy for the organization. An organization"s performance in the marketplace depends on the expectation of its customers for purchase of goods or services, mainly price, quality, variety and timeliness. Price the amount a customer must pay. Quality refers to characteristics of a good or service determined by its design, material, workmanship, performance and consistency. Variety refers to the choices of models and options available to the customer. Timeliness refers to the availability of goods or services when they are needed by the customer. ***if quality, variety and timeliness are equal, the customer will choose the good/service with the lowest price.
