Operations Management homework help

 

 

operation
management
Strategy is an organization’s action plan to achieve its mission, whether that is flying airplanes or building them. Firms have several different ways to achieve their mission, and these strategic concepts can provide an advantage over your competitors.

Based on your readings and resource review, you should be able to define the three strategic approaches (differentiation, cost leadership, and response) to competitive advantages. With these approaches in mind, identify a company and determine which approaches they use. While some companies may use a combination of the approaches, focus your paper on the one key approach used by the firm.

Include the following:

Explain, briefly, the three strategic approaches to competitive advantages.
Provide an overview of your selected company.
Discuss which strategic approach your selected company uses and why they use that approach.

Sample Solution

Operations Management homework help

A competitive advantage is an attribute that enables a company to outperform its competitors. a competitive advantage must be difficult, if not impossible, to duplicate. According to Porter`s Generic Strategies model, there are three basic strategic options available to organizations for gaining competitive advantage. These are: cost leadership, differentiation and focus. Porter`s generic strategies are ways of gaining competitive advantage, in other words, developing the “edge” that gets you the sale and takes it away from your competitors. There are two main ways of achieving this within a cost leadership strategy: increasing profits by reducing costs, while charging industry-average prices; increasing market share by charging lower prices, while still making a reasonable profit on each sale because you have reduced costs.

While a set of frameworks complement and build on each other, the delineation of the concept focuses heavily on vertical versus horizontal dimensions in a time-sliced fashion. That is, time dimension in accountability has not been of primary importance. However, it is worth noting that the time dimension is closely interrelated with a series of conceptual distinctions made in previous literature, and it may cover complementary aspects of the question concerning two sequential lines represented by administrative responsibility versus political accountability. First, the positioning of accountability actors depends on the time dimension. Civil servants usually have longer terms to serve the public interest over the long term. At the same time, they are responsible to the elected representatives of the public who tend to have “a limited time horizon” and “prefer policies that yield tangible benefits for constituents in the near term” (Posner, 2004: 137). For this reason, the priorities expressed by elected officials may be far more related to short-term issues and temporal problems instead of long-term solutions, whereas the long-lasting forms of civil service personnel would prioritize sustainable solutions to secure a long-term perspective of the citizens, both current and in the future. Second, the time frame is essential to distinguishing between two main streams of accountability. Accountability mechanisms focus predominantly on retroactive accountability for the past outcomes, while accountability as a virtue takes a proactive approach to ensuring ethical behaviors in the future. The timeline is also useful to distinguishing between ex ante accountability of the decision-making process leading up to the decision and ex post accountability where the results available from the decision already taken or where questions of compliance are identified and addressed. In other words, ex ante accountability refers to being accountable for the decision before an administrator act, while ex post accountability is suggestive of situations where administrators are accountable for the outcome of their decisions. For example, the focus of traditional bureaucratic administration is very much

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