This website uses cookies to ensure you have the best experience. Learn more

Your Business Essay

1955 words - 8 pages

Your Business – Part 1: Assignment #3

LaPrincess D. Allen

The roots of strategy are in competition. The word “strategic” comes from the Greek “strategos,” which means “a general set of maneuvers carried out to overcome an enemy during combat” (Nutt & Backoff, 1992, p. 56). The heritage of “overcoming an enemy” is alive and well in business strategy today. Gaining market share, differentiating products and services from competitors, and—certainly—“gathering marketing intelligence,” all can trace their roots to the competitive, military-based concept of strategy. In Porter’s words: “developing a competitive strategy is developing a broad formula for how a business is going to ...view middle of the document...

After collectively considering the products and services demanded by customers, strengths and weaknesses of competitors, the environment, and the firm's own strengths, weaknesses, cultures, and resources, proficient firms can formulate their vision as expressed through the mission statement. This statement expresses the organization's values and aspirations; basically its reason or purpose for existence. Based on this mission statement the firm will formulate its business strategy. This business strategy is a long-term plan for accomplishing the mission set forth in the mission statement. Each function within the business can then derive its own strategy in support of the firm's overall business strategy (financial strategy, marketing strategy, and operations strategy).
Operations strategy is the collective concrete actions chosen, mandated, or stimulated by corporate strategy. It is, of course, implemented within the operations function. This operations strategy binds the various operations decisions and actions into a cohesive consistent response to competitive forces by linking firm policies, programs, systems, and actions into a systematic response to the competitive priorities chosen and communicated by the corporate or business strategy. In simpler terms, the operations strategy specifies how the firm will employ its operations capabilities to support the business strategy.
Operations strategy has a long-term concern for how to best determine and develop the firm's major operations resources so that there is a high degree of compatibility between these resources and the business strategy. Very broad questions are addressed regarding how major resources should be configured in order to achieve the firm's corporate objectives. Some of the issues of relevance include long-term decisions regarding capacity, location, processes, technology, and timing.
The achievement of world-class status through operations requires that operations be integrated with the other functions at the corporate level. In broad terms, an operation has two important roles it can play in strengthening the firm's overall strategy. One option is to provide processes that give the firm a distinct advantage in the marketplace. Operations will provide a marketing edge through distinct, unique technology developments in processes that competitors cannot match.
The second role that operations can play is to provide coordinated support for the essential ways in which the firm's products win orders over their competitors, also known as distinctive competencies. The firm's operations strategy must be conducive to developing a set of policies in both process choice and infrastructure design (controls, procedures, systems, etc.) that are consistent with the firm's distinctive competency. Most firms share access to the same processes and technology, so they usually differ little in these areas. What is different is the degree to which operations matches its processes and...

Other Papers Like Your Business

Identify Sources of Support and Information for the Setting Up and Running of Your Home Based Childcare Business

807 words - 4 pages 1.6 Identify sources of support and information for the setting up and running of your home based childcare business. Once deciding to become a child carer you are required to: Have the appropriate qualifications, training and skills, as set out by the Early Years Foundation Stage (EYFS). This framework ensures all childcare providers - including childminders- adhere to the same guidelines. Local career advisers in colleges can advise you

Csr and Its Importatnce in Your Business

852 words - 4 pages Report Israel Country Profile. May2014, p14-48. 35p. Abstract: The article presents an analysis of the political, economic, social, technological, legal and environmental (PESTLE) structure in Israel, explored on four parameters, such as current strengths, current challenges, future prospects and future risks. Topics covered include the nature of coalition politics in Israel which caused regular ideological conflicts, the risk of a mortgage

Considering The Elements Of Microeconomics, Create A List Of Three (3) Best Practices That Would Benefit Any Small Business Or Start-Up. Explain Your Rationale

956 words - 4 pages Considering the elements of microeconomics, create a list of three (3) best practices that would benefit any small business or start-up. Explain your rationale. Answer: Microeconomic show how new businesses have determined the competitively successful or unsuccessful pricing of their goods and services based on the mass consumer needs and choices, market competition and other financial and economic formulas. Microeconomics also studies supply

1.State the Administrative Agency That Controls the Regulation. Explain Why This Agency and Your Proposed Regulation Interests You (Briefly). Will This Proposed Regulation Affect You, or the Business...

538 words - 3 pages instead) and write the following regarding it: 1.State the administrative agency that controls the regulation. Explain why this agency and your proposed regulation interests you (briefly). Will this proposed regulation affect you, or the business in which you are working? If so, how? Submit a copy of the proposed regulation along with your responses to these five questions. The proposed regulation can be submitted as either a separate Word

Protect Your Money

1249 words - 5 pages search may save you from sending your money to a con artist, an unscrupulous financial professional, or a disreputable firm. Before you invest or pay for any investment advice, make sure your brokers, investment advisers, and investment adviser representatives have not had run-ins with regulators or other investors. You also should check to see whether they are registered or licensed. This is very important, because if you do business with an

Building Your Knowledge Peak

1328 words - 6 pages have ravaged the region and left several homes in peril, individuals hurt or homeless, and communities out of pocket. Building strong foundations is imperative to ensure that the fundamental knowledge of business essentials are understood by all employees at all levels and most especially – to better understand how your business operates. Sound knowledge foundations on internal processes will ensure efficiency and interdependence between

Knowing Your Audience

836 words - 4 pages of their employees can make for a company that will not be able to stay in business. To ensure that a message was received as intended, you must think about what the main point of your message and how to get your message across in a clear and concise manner. You will need to plan the best way to deliver your message and decide on the most appropriate channel to transmit your message effectively must also be carefully considered. For example

Information at Your Fingertips

710 words - 3 pages . Smartphones can do things a lot more quickly than your standard mobile phone. This means you and all your business is always one step ahead of what is going on. Before smartphones came along, mobile phones were only made to make and receive calls, but now these devices have taken on new and better standards, also newer functions and features. The most fundamental component of the smartphone is that it is available with Internet. It’s like using

Knowing Your Audience

737 words - 3 pages Knowing Your Audience Communication is one tool that humans have advantage over any other species. It allows us to convey messages, instructions, information, and questions to each other. Whenever communication is used, the communicator must consider the audience that he or she will be addressing. The elements within the message must reflect on the audience to have a fully effective communication. The type of message and the mood of the

Protecting Your Network

2298 words - 10 pages and cannot do on the system. Setting up a security policy will help in defining the appropriate use of IT resources. It will also be useful when controlling the accesses to your system. Gupta (2008) suggests “having a reviewable, enforceable Security Policy will enable management to provide the guidelines with which the company will conduct its business”. Users should become familiar with the policy in an effort to eliminate unintentional

Welcome Your New Employees

1548 words - 7 pages day and different managers and supervisors. However on the interim, since you all came here for New Hire Orientation session, so basically we will be covering all the necessary basics of being an employee of McDonald’s. There will come a time where you will all meet with the CEO of this company. He will impart the company values and ideals, and lets you guys know that he is a hands-on part of the business. Brief History of the Organization The

Related Essays

Business On Your Doorstep Essay

1847 words - 8 pages Business on your doorstep Waitrose- Waitrose is a British based supermarket that has branched from one small chain over decades of hard work by their employees; there purpose is to bring quality to the supermarket industry they were also voted the best supermarket In the UK just being bumped of the top by Aldi. It is also Britain's largest employee-owned retailer this is part of their partnership scheme they run, as they like to run a business

Accelerate Your Small Business Ebay Essay

2089 words - 9 pages Research Paper Accelerate Your Small Business-eBay Every year there are hundreds of thousands of companies that surface themselves as new small businesses. With that said every year there are also hundreds of thousands of small businesses that close down (1). There are many contributing factors to a successful small business. One of the greatest marketing tools to sweep the retail industry is eBay. EBay has allowed and continues to allow

How Can A Website Scale Up Your Business

854 words - 4 pages How Can a Website Help You Scale Up Your Business? Maintaining some form of online presence has grown exponentially important for small businesses in today's worldwide marketplace. Figures from the National Small Business Association show that 82% of business owners rely on a traditional website to help promote themselves online, with an increase in the number of mobile websites at 18%. These sites can vary, offering simple promotional

Refined Oil Equipment Oil Refining Business, Hydraulic Oil Vendors Would Forrest With Your Actions

620 words - 3 pages  Refined oil equipment oil refining business, hydraulic oil vendors would forrest with your actions.A few days ago, our hydraulic oil vendors would forrest equipment co., LTD., the editor was assigned by the leadership of the company related tasks to go we forrest to interview a client there.I hurried to sort out some of the information, and our refined oil equipment business manager zhang. Travelling together to customer side.Just