25 May Question 6. What are competitive priorities? Provide some examples of ho
Question
6. What are competitive priorities? Provide some examples of how OM influences the five major types of competitive priorities.
7. Is it possible for a world-class organization to achieve superiority in all five major competitive priorities – price (cost), quality, time, flexibility and innovation? Explain. Justify. Provide examples pro or con.
8. What is the difference between corporate, business and functional strategy?
9. What do we mean by core competencies?
ANS:
Core competencies are the strengths unique to an organization. Such strengths might be a particularly skilled or creative work force, customer relationship management, clever bundling of goods and services, strong supply chain networks, extraordinary service, marketing expertise or the ability to rapidly develop new products or change production-output rates.
PTS: 1
10. Explain Professor Hill’s strategy development framework. What are the key elements of operations strategy within this framework?
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