What are three principles of process strategy that should govern choices that process designers make? Provide examples of well-conceived process strategy choices to illustrate each of your three principles

What will be an ideal response?


The three principles discussed in the text are: (1 ) The key to successful process decisions is to make choices that fit the situation and that make sense together. They should not work at cross-purposes, with one process optimized at the expense of other processes. A more effective process is one that matches key process characteristics and has a close strategic fit. (2 ) Individual processes are the building blocks that eventually create the firm's whole supply chain. The cumulative effect on customer satisfaction and competitive advantage is huge. (3 ) Whether processes in the supply chain are performed internally or by outside suppliers and customers, management must pay particular attention to the interfaces between processes. Dealing with these interfaces underscores the need for cross-functional coordination. Examples of process strategy choices will vary.

Business

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Details of the manufacturing activity in Amy Corporation's Assembly Department for the month of December is given below: Number of UnitsLabor and Overhead Percent CompleteWork in process inventory, Dec. 110,00070%Started in assembly during the month80,000  Work in process inventory, Dec. 3115,00040%All materials are added at the beginning of processing in the Assembly Department.The equivalent units for labor and overhead for the month, using the weighted-average method, is:

A. 74,000 B. 162,000 C. 81,000 D. 80,000

Business

__________ occurs when both parties negotiate a win-win solution.

a. Dissemination bargaining b. Assimilative bargaining c. Integrative bargaining d. Distributive bargaining

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Scott has great respect for his long-time manager and mentor, Jaime. When Scott is confronted with a challenging ethical issue, he asks himself how Jaime would have handled the situation. Scott uses ________ as an ethical system to guide him in his decision making.

A. utilitarianism B. relativism C. universalism D. conventionalism E. egoism

Business

In capital budgeting, risk is the degree of variability of cash flows

Indicate whether the statement is true or false

Business