Strategic Management and Manufacturing Strategy Essay

Submitted By cloud530749266
Words: 5033
Pages: 21
Open Document
Manufacturing
S trategy

THE UNIVERSITY OF
NEW SOUTH WALES

Manufacturing Strategy: Unit 1 - The Nature and Role of Manufacturing Strategy
November 2003

1-0

Manufacturing
Strategy

Unit 1
The Nature and
Role of
Manufacturing
Strategy

Manufacturing Strategy: Unit 1 - The Nature and Role of Manufacturing Strategy
November 2003

1-1

Contents
Overview
Learning Outcomes
What is Strategy?
Organisational Goals
Characteristics of Strategy
Corporate Strategy and the Strategic Business Unit
Linking Manufacturing Strategy with Corporate and Business
Strategies
Conclusion

1-2

Manufacturing Strategy: The Nature and Role of Manufacturing Strategy
November 2003

Overview
This unit examines the nature of manufacturing strategy, and its relationship with corporate strategy on the one hand, and with other functional strategies of marketing and finance on the other.
The first section commences with a description of the goals of a typical manufacturing organisation in terms of purpose, mission and objectives, and how the overall strategy formulation process is concerned with formulating means of achieving an organisations objectives in the presence of competitive forces.
The second section examines the differences between strategic and operations planning in terms of time scale and level of detail. From here we move on to consider the notion of corporate strategy, which considers the corporate mission of the organisation as a whole, the markets in which it will or will not participate, and the nature and role of the separate individual strategic business units of which it is composed. The functional strategies
(manufacturing, marketing and financial) of the individual strategic business units, and how these relate to each other and to the overall business strategy.
In particular, a blueprint for a new role for manufacturing in the strategy formulation process is developed, and reasons are examined for the subsidiary role often taken by manufacturing in the past
Finally we look briefly at how manufacturing strategy and its formulation should be linked by a process of continuous iteration, with corporate and business strategies.

Learning Outcomes
After studying this unit, you should be able to:
•
•
•
•
•

analyse the goals of an organisation in terms of its purpose, mission and objectives appreciate the key characteristics of strategy and the strategy formulation process. understand the differences between strategic and operational planning. appreciate the concepts of corporate strategy, and strategic business units understand the role of manufacturing strategy and its relationship to corporate strategy, and to marketing and financial strategies.

Manufacturing Strategy: Unit 1 - The Nature and Role of Manufacturing Strategy
November 2003

1-3

What is Strategy?
Strategy, according to the dictionary, is variously defined as:
“the art or skill of careful planning towards a desired end”
“the art of devising or employing plans towards a goal”
“skillful management of getting the better of an adversary”:
“science or art of combining and employing resources in planning and directing major (military) operations”
For many years, strategy was used in a military context to denote “grand plans” made in the light of what an adversary might or might not do. In the context of modern business, strategy still has a competitive implication (in relation to an enterprise’s business rivals), but it is also used increasingly to denote broad, overall courses of action, and some form of implied deployment of both emphasis and resources to achieve some comprehensive set of objectives. Note that strategy is defined as being both a science and an art. In this subject we shall inevitably focus on the more systematic (and hence more “scientific”) aspects of strategy development, rather than the
“gut feel” aspects associated with strategy development as an art.

Organisational Goals
Before we look at the concept of strategy in more detail, we must examine
the
Show More

Related Documents: Strategic Management and Manufacturing Strategy Essay

02 Operations Strategy Essay

Operations Strategy Operations strategy Operations in context Global network operations Direct Creating the agile supply chain Steering operations Design Develop Shaping products, services and systems Improving the operation’s capabilities Deliver Product/service design Operations planning & control Operations Strategy – Slide 1 Planning and controlling ongoing operations Managing the supply base Creating the lean supply chain Supplier relations & selection Key Topics  Strategic Importance…

Words 1566 - Pages 7

TEAM 7 Tesla Presentation Anna CEO Essays

Tesla Motors Anna Sender Jackie Tran Danielle Cyr Justine Pasiecnik Lauren Kelly Contents ● Current Situation o Financial Ratios ● Analysis & Problem Diagnosis o External Environment o Internal Environment o Strategic Challenges ● Strategic Formulation ● Strategic Implementation Current Situation Current CEO Elon Musk Tesla Model S (left) and Model X (right) Analysis Financial Ratios (2008-2012) Profitability Ratios: How profitable is the company? Financial Ratios (2008-2012) Activity…

Words 627 - Pages 3

Executive Summary Essay

Learning Team A CMGT 555 March 30, 2015 Phyllis Chasser Executive Summary Riordan Riordan Manufacturing is Fortune 1000 company of global plastics employing over 550 people. Riordan Manufacturing is an exclusively owned subsidiary of Riordan Manufacturing Industries with revenues exceeding $1 billion. The company is headquartered in San Jose, California, and has offices internationally (Riordan Manufacturing, 2015). Riordan's modern technology and advanced expansions in plastic injection molding…

Words 559 - Pages 3

Strategic Management Pepsico 2008 Case Study Essays

Strategic Management PepsiCo 2008 Case Study Introduction This project aims to analyse the diversification strategy of PepsiCo in 2008. PepsiCo is the second largest food and beverage business in the world. The benefits of PepsiCo’s diversification strategies are identified. The business strategy is analysed to determine its efficacy across PepsiCo’s consumer business segments and product portfolio. The value chain match ups are determined and analysed to ascertain their relevance to the success…

Words 2430 - Pages 10

Strategic Audit of a Corporation Essay

Strategic Audit of a Corporation I. Current Situation A. Current Performance . How did the corporation perform the past year overall in terms of return on investment, market share, and profitability? B. Strategic Posture What are the corporation's current mission, objectives, strategies, and policies? 1. Are they clearly stated or are they merely implied from performance? 2. Mission: What business(es) is the corporation in? Why? 3. Objectives: What are the corporate, business, and…

Words 2934 - Pages 12

Critical Review of "It's Not Luck" Essay

review of the book "It's not Luck" by EM Goldratt from an operations strategy perspective. The emphasis of your review should be on principles of good operations strategy and should NOT just be a summary of the book. Table of Contents 1. Preface 3 2. Introduction to Business Strategy and its Operations Strategy 3 3. Levels of Strategy 4 4. Executive Summary of It's Not Luck 6 5. Principles of Operations Strategy 7 6. Conclusion 9 7. References 10 1. Preface The content…

Words 3298 - Pages 14

Strategic Management Accounting Literature Review

Table of Contents I. Introduction 1 II. Literature review of Strategic Management Accounting 1 III. The implication of strategic management accounting 5 3.1 The implication of customer profitability analysis techniques 5 3.2 The adoption of activity base costing 8 IV. Conclusion 10 References 10 List of Figures Figure 1 - Strategic Management Accounting - What Is the Current State of the Concept? (Juras, 2014) 5 I. Introduction Many organizations encounter various challenges because the rapid changing…

Words 4093 - Pages 17

1.1 Explain the Importance of Effective Supply Chain Management in Achieving Your Organizational Objectives. Essay

1.1 Explain the importance of effective supply chain management in achieving your organizational objectives. Supply Chain Management as defined as "Maximising added value and reducing total cost across the entire trading process through focusing on speed and certainty of response to the market”. Competitive Edge through Core Competencies Today's business climate has rapidly changed and has become more competitive as ever in nature. Businesses now not only need to operate at a lower cost to…

Words 1500 - Pages 6

Subscribe To The Opinion That The Time Tested Way For Market Leaders To Command Their Markets

philosophy that strategy researchers have a difficult time in explaining to business owners why some companies perform better than others. It follows that the opinion that strategy researchers are head-in-the-cloud types with little relevant information is a fallacy. This owes to the fact that global strategic researchers have a task of conducting an internal audit. Evidently, these strategic researchers have to identify a company’s strengths and weaknesses. In evaluating those traits, the strategic researchers…

Words 598 - Pages 3

Research Paper Ayush Gupta

Running head: ROLE OF SUPPLY MANAGEMENT IN TOY INDUSTRY Role of Supply Management in Toy Industry Ayush Gupta University of Wisconsin Madison 1 ROLE OF SUPPLY MANAGEMENT IN TOY INDUSTRY 2 Abstract Toy industry is an industry where time to market and product turnover are vital. Most products have a very short life and are sold in limited, well-defined selling seasons. Few products last for two seasons and experience a significant markdown at the end of the product life. While some products…

Words 2704 - Pages 11