Lecture 2 Competitiveness, Strategy, and Productivity

[@HannahMaambong]

Thank you for this video. This is really helpful for me as a student during this pandemic. It really helps me a lot to understand the modules my professor gave me. Looking forward to finish all the following videos! From the Philippines!

[@CimolOk-nz5yj]

🎯 Key Takeaways for quick navigation: 00:00 📈 *Introduction to Competitiveness, Strategy, and Productivity* - Overview of the importance of quality, productivity, and customer responsiveness. - Highlights the interrelation of competitiveness, strategy, and productivity. 00:46 🎯 *Understanding Competitiveness* - Definition of competitiveness and its significance in meeting customer needs. - The role of marketing and operations in enhancing competitiveness. 01:52 🔍 *Factors Influencing Business Competitiveness* - Key factors: product/service design, cost, location, quality, and response flexibility. - Importance of inventory and supply chain management, service quality, and workforce. 02:37 ⚠️ *Reasons for Organizational Failure* - Lack of operational strategy and ignorance of strengths and weaknesses. - Overemphasis on short-term gains and insufficient focus on process design and improvement. 03:29 🌟 *Organizational Mission and Planning Hierarchy* - The significance of a mission statement in guiding organizational goals and strategies. - The process of translating mission into organizational strategies and tactics. 04:09 🎖️ *Case Study: FedEx's Mission and Ethical Standards* - FedEx’s mission evolution and emphasis on safety and ethics. - Illustrative story demonstrating FedEx's commitment to timely delivery and employee initiative. 07:11 🎯 *Goal-Driven Strategies in Organizations* - The role of goals in shaping organizational strategies. - Differentiation between functional and organizational strategies. 08:15 🛠️ *Tactics and Operations* - Tactics as methods to achieve strategies. - Operations as the execution of work. 08:46 🔍 *Core Competencies and Operation Strategies* - Importance of aligning core competencies with strategies. - Examples of operation strategies in different organizations. 11:32 🧭 *Strategy Formulation and Environmental Scanning* - Core competencies, environmental scanning, and SWOT analysis. - Concepts of order qualifiers and order winners. 14:02 🔬 *Internal and External Factors in Strategy* - Key external factors: economic, political, legal, technological, competitive, and market conditions. - Internal factors: human resources, facilities, finance, customers, technology, and suppliers. 15:45 📊 *Operation Management Decision Areas* - Decisions in product/service design, capacity, process selection, work design, and location. - Quality, inventory, maintenance, scheduling, supply chain, and project considerations. 18:54 🎯 *Quality-Based Strategy* - The importance of quality in strategy, including reputation management and cost reduction. - Examples of companies that have adopted quality-based strategies. 20:29 ⏱️ *Time-Based Strategies* - Focus on reducing task completion time to improve cost, quality, and customer service. - Areas for time reduction in business processes. 22:04 🔄 *Agile Operations* - Emphasis on flexibility and adaptability in operations. - Integration of core competencies for environmental responsiveness. 22:40 📈 *Balanced Scorecard Approach* - A top-down management system focusing on various functional areas. - Development of objectives, metrics, targets, and initiatives in different business perspectives. 24:30 📊 *Understanding Productivity* - Definition and importance of productivity in business. - Productivity as a measure of resource effectiveness. 26:24 📈 *Productivity Measures and Calculation* - Types of productivity measures: partial, multifactor, and total. - Example of a productivity calculation. 30:32 📉 *Analyzing Productivity Growth* - Calculating productivity growth and understanding its implications. - Example of productivity growth calculation in an assembly line. 31:01 🔍 *Service Sector Productivity Measurement* - Challenges in measuring productivity in the service sector. - Process yield as an alternative productivity measure in services. 32:09 📈 *Factors Influencing Productivity* - Key factors: methods, quality, management, technology, and capital. - How these factors impact overall productivity. 33:01 🚀 *Strategies for Productivity Improvement* - Steps for improving productivity: measurement, identifying bottlenecks, setting goals, and management support. - Importance of measuring and publicizing improvements. 34:08 🌟 *Distinction Between Productivity and Efficiency* - Differentiating productivity from efficiency. - Example of efficiency versus productivity in lawn mowing. 35:21 🔄 *Summary of Key Concepts* - Recap of the interconnectedness of competitiveness, strategy, and productivity. - Emphasis on detailed strategies for improving competitiveness and productivity in operations management. Made with HARPA AI

[@kristasampson4638]

Thank you for your lectures, you have been a blessing! My online course does not offer in lecturing for this course just read the textbook, answer the homework questions, take quizzes and do project. No explanation of content.

[@fridaysilomba8444]

I Think am now Going to Love this Course-- Well Explained and Easy to Follow with The Notes on the Slides

[@elkyelkyelky]

Great MBA courses list, slides great! Finished, so appreciated of sharing.

[@robertohernandez995]

Awesome lecture Eddy! Thank you for all the knowledge

[@goddessvibes08]

Hi can someone please tell me which textbook he is using as a reading reference so I can buy it? Please

[@rajuchandaka2149]

Thank you sir for valuable content

[@neuromotor8750]

Great content thank you for this lectures

[@robioulislam348]

Thank you, sir. Almighty may bless you with his Will .

[@lebohanghlengethwa6154]

Thank you so much sir, the videos are really helpful.

[@fatihaygun6777]

ı loved your lessons can you share your slides please sir

[@reinamaeceleste6864]

Thank you so much . this is a huge help in my studies ♥️♥️♥️♥️♥️♥️♥️♥️

[@Claudiuyoro]

Good content! Thank you!

[@Cento900]

Great stuff

[@behailudejenebekele9812]

hi

[@Klide9]

It's all about theory and definitions. What about practice?

[@dagwould]

His slides are his I. P. Just use the video which Eddie has been good enough to publish.

[@dianaroseelopre]

Thank you

[@md.mohibbullahmuhib1200]

Thanks Dear....

[@rq7694]

Can i have this slides

[@therapysg7205]

Thanks

[@dagwould]

I have to disagree with the 'strategies' examples. They aren't 'strategies'! A strategy is a set of 'grand' defining actions a firm will take to achieve its objectives and deliver on its mission, Low cost might be an operational practice, but strategy it is not. A strategy will set the themes for Activities (I prefer this to 'tactics', cause we ain't the army) and activities achieve or help to achieve goals. Operations follow from Activities. SWOT: Companies are build to avoid their 'weaknesses' and play to their strengthens. What is better is to examine the capabilities you have to meet your goals/objectives, and the barriers that might arise. If you don't have capabilities that are relevant, undertake Projects to develop them. Targets: Be aware that 'targets' really only exist on dart boards, where we all know the delivery system. if you want 'targets' for your business, understand the system that is producing the current results, and study where beneficial changes might leverage the outcomes you seek. Demming counsels against targets because they are either wrong (unachievable), induce 'gaming' and internal competitive waste or distort the system through 'tampering' with it.

[@egeo.2890]

1.5 speed

[@ankitjaiswal8014]

EVERYTHING IS GOOD NOTES , SLIDES ETC. BUT YOUR TEACHING IS NOT THAT GOOD SIR SORRY You Are Just Reading Not Explaining It properly 😓

[@mariaytinexposer]

14

[@mariaytinexposer]

78