Reflection Paper on Organizational Operations Chapter 2, Essays (high school) of Business

Download Reflection Paper on Organizational Operations Chapter 2 and more Essays (high school) Business in PDF only on Docsity! Name: Kyasiah Mae P. Aragones Course&Year: BSA III This chapter covers competitiveness, strategy, and productivity, three distinct but intertwined concepts that are critical to the success of businesses. In comparison to other companies that provide similar goods or services, competitiveness refers to how well a company serves the wants and needs of customers. Competitiveness is a key aspect in determining whether a business succeeds, struggles, or fails. Price, delivery time, and product or service differentiation are all factors that businesses use to compete. Competitiveness is heavily influenced by operations and marketing. Identifying consumer wants and needs, pricing, and advertising and promotion are all ways that marketing influences competitiveness. As noted earlier in this chapter, the key to successfully competing is determining what customers want and then directing efforts toward achieving or even exceeding their expectations. The chapter also discusses the most common reasons for an organization's failure or poor performance. I believe that being aware of such factors can assist managers in avoiding similar failures. Understanding competitive challenges can also aid managers in developing effective strategies. To accomplish so, strategies must be aligned with the mission or vision statement of the organization. Because the mission statement is the framework for the establishment of organizational goals, the goals are the foundation for the development of organizational strategies. The importance of organizational strategy, as stated in this chapter, is that it governs the organization by providing direction and aligning the goals and strategies of the many departments. As a result, I’ve come to realize that strategy formulation is virtually always important to a company’s success. Senior managers must consider the businesses’ fundamental competencies as well as the environment while developing an effective strategy. They must figure out what their competitors are doing or going to accomplish and account for it. They must consider additional factors that could have good or negative consequences. In this situation SWOT analysis is often use and recognized as the link between organizational strategy and operations strategy. Aside from the SWOT analysis which is what I’m familiar with, the book states an alternative and that is Michael Porter’s five forces model, which takes into account the threat of new competition, the threat of substitute products or services, the bargaining power of customers, the bargaining power of suppliers, and the intensity of competition. In connection with the formulation of a successful strategy, organizations must also take into account both order qualifiers and order winners. In addition, the company must consider a variety of internal and external elements that relate to potential strengths and weaknesses. Following that, a strategy or strategies will be devised to give the organization the best possible chance of success. The organization can choose for a single, dominating strategy or a variety of strategies. With a single strategy, the corporation might concentrate on a particular strength or market position. A specific set of conditions, on the other hand, may require the use of multiple strategies. Unless done correctly, combining two or more of the techniques mentioned in this chapter puts a