Samenvatting Operations Management 8th edition, Nigel Slack Chapter 2 Questions and Answers 2023

Operations Strategy - -Consistent pattern of decisions for operations and the associated supply chain that are linked to the business strategy and other functional strategies, leading to a competitive advantage for the firm. -Operations Strategy 4 Elements - -Mission, objectives, strategic decisions, and distinctive competence. -Corporate Strategy - -Defines the business that the company is pursuing. -Business Strategy - -Follows from the corporate strategy and defines how each particular business will compete. -Michael Porter's 3 Types of Generic Business Strategies - -1. Differentiation 2. Low Cost 3. Focus -Differentiation - -Associated with a unique and frequently innovative new product or service. -Low Cost - -Pursued in commodity markets where the products or services are immitative. -Focus - -Can be combined with either a differentiation or a low-cost strategy. -Operations Mission - -Every operation should have a mission that is connected to the business strategy and is in agreement with the other functional strategies. The operations mission is thus derived from the particular business strategy selected by the business unit.