About This Chapter
Strategic Operations - Chapter Summary
This chapter contains several video and text lessons that can help you learn more about essential strategic operation topics. Study concepts ranging from how systems and function within an organization to the steps for achieving and maintaining a competitive advantage.
Review each of these lessons, and then use the chapter's practice quizzes and final exam to ensure that you have understood the major points from each topic. The chapter's convenient online format allows you to access these lessons on any computer, tablet or mobile device. In this chapter, you'll learn things like:
- What systems management theory is
- What the components of systems theory are
- Why value chains and supply chain management are important
- What tools are used to measure performance in business
- How to develop a performance management system
- What the differences are between production, productivity, and competitiveness
- How to measure efficiency of assets and systems performance reliability
- What is sustainable competitive advantage
1. Systems Management Theory
Every business has to follow a process, and that process is the result of a system. The systems management theory focuses on systems and how they work and function within an organization.
2. Systems Approach to Management: Theory & Concepts
Systems theory is one of the most prominent theories in management today. In this lesson, you will learn about the theory and its key components. You will also be given an opportunity to reinforce your knowledge with a short quiz.
3. What Is a Value Chain? - Definition, Analysis & Example
This lesson discusses what a value chain is and how it can help a business meet the needs of customers. It also provides an analysis of the effectiveness of the value chain actions.
4. What is Supply Chain Management? - Definition & Importance
Supply chain management plays a large role in the world we live in. In this lesson, you'll learn what supply chain management is and discuss the importance of supply chain management to business.
5. How to Measure Performance in Business: Tools & Examples
How can you measure performance in your business, and why would you want to do so? In this lesson we'll discuss common tools for performance measurement, why you'd use them, and what to do with the results.
6. How to Develop a Performance Management System
In this lesson, we'll learn about performance management systems. We'll define the term and then look specifically at how a company might develop its own performance management system.
7. Production, Productivity & Competitiveness
Do you know the difference between production and productivity? In this lesson, we will discuss production, productivity, and competitiveness, and the critical variables that enhance productivity.
8. Measuring Property, Plant & Equipment Asset Efficiency
A typical company spends a great deal of money on property, plant, and equipment assets. Calculating the asset turnover ratio helps companies determine if their assets are being used efficiently.
9. How to Measure Systems Performance Reliability
System performance can have a direct business impact. This lesson will cover the methods for measuring system performance and reliability, providing examples.
10. What Is a Balanced Scorecard? - Metrics & Examples
One of the most effective ways to determine the success of one's business, product, strategy, or employees is to measure results via performance appraisals. This lesson discusses one form of performance appraisal, the balanced scorecard.
11. Sustainable Competitive Advantage: Definition, Concept & Examples
This lesson explores the concept of sustainable competitive advantage, or what makes a company uniquely more successful than its industry competitors. How do companies achieve a competitive advantage? And once a competitive advantage is achieved, how can it be maintained?
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