BUSI 650 Chapter Notes - Chapter 1: Mass Customization, Market Saturation, Total Factor Productivity
2 Mar 2018
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Chapter 1: operations and supply chain strategy for competitiveness. Operational innovation: can provide organizations with long term strategic advantages over their competitors. Organizations: exist to create value regardless of their business classification. System: purposeful collection of people, objects, and procedures for operating within an environment, are goal directed and purposeful collections. Environment (6: customers, government, competitors, technology, suppliers, economy. Strategy (4: value proposition, vision/mission, strategic frameworks, core capabilities. Production system (6: environment, strategy, set of inputs, transformation process, set of outputs, mechanism for controlling the overall system. Suboptimization: occurs when one part of the system is improved to the detriment of other parts of the system is improved to the detriment of other parts of the system. Transformation processes: part of the system that add value to the inputs, ways that value can be added to an entity (4, alter, transport, store, inspect. Types of outputs resulting from a production process (2: services, products, other types (2, knowledge, information.
