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Neha Tikoo, Lovely Professional University Unit 2: Strategy and Operations Strategy

Unit 2: Strategy and Operations Strategy Notes

CONTENTS
Objectives
Introduction

2.1 Relationship between the Different Value Elements
2.2 Competitive Strategy
2.2.1 Cost Leadership Strategy

2.2.2 Differentiation Strategy
2.2.3 Focus and Niche Strategies
2.2.4 Some Aspects of Generic Strategies
2.3 The Richardson, Taylor and Gordon Framework
2.3.1 Technology Frontiersman

2.3.2 Technology Exploiters
2.3.3 Technological Serviceman
2.3.4 Customizers

2.3.5 Cost-minimizing Customizers
2.3.6 Cost Minimisers
2.4 Translating Strategy into Operational Effectiveness
2.4.1 Implementing Strategy
2.5 Summary

2.6 Keywords
2.7 Review Questions
2.8 Further Readings

Objectives

After studying this unit, you will be able to:
 Recognize the competitive capabilities relationship with operations strategy;
 Describe the objectives of competitive operations strategy;
 Discuss the model developed by Richardson, Taylor and Gordon;

 Explain the implementation of operations strategy.

Introduction

Peter Drucker says, “The primary tasks of Strategic Management are to understand the
environment, define organizational goals, identify options, make and implement decisions,
and evaluate actual performance”. The aim of strategic analysis is to form a view on the key

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