Operations Management for MBAs, 5th Edition Solution Manual

Operations Management for MBAs, 5th Edition Solution Manual helps you stay ahead with clear explanations and well-organized study materials.

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Chapter 1–Page1Chapter 1OperationsStrategy and Global CompetitivenessChapter SummaryThis is one of the most important chapters in the text as it defines operations managementas the activities associated with transforming inputs intovaluedoutputs.The chapter alsoshows that the actual production system is defined in terms of its environment, inputs,transformation system, outputs, and the mechanism used for monitoring and control.Inour definition of the production system, we define all transformation systems asservices—with or without facilitating goods (physical entities accompanying thetransformation process).Another key aspect of the chapter is thediscussion of the moveaway from traditional functional-basedtoprocess-based organizational structures.This chapter continueswitha definition ofcustomer valueas perceived benefits dividedby costs.Customer costs include upfront monetary investment, other lifecycle costs formaintenance, and the hassles involved in obtaining the product or service.Discussion ofcustomer benefits focuses on innovative products and services, functionality, quality,customization, and responsiveness.Thefinal part of this chaptercontinues with a discussion ofstrategyandcompetitiveness.Global trade trends are discussed.Next,the chapter provides an overview of the businessstrategy formulation process and includes timely material on vision and missionstatements,internal and external forces, business strategy, the business model, andbusiness unit strategies.After that,business unitstrategic frameworks are described:thelife-cycle approach, the performance frontiers concept, focus on one or two key areas ofstrength,andthe sand cone model.Finally, the chapter concludes with a discussion ofcore capabilities, outsourcing, and offshoring.

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