Asked by Zheng Shouyi on May 28, 2024
Verified
You decide to integrate your supply chain to cut down production time. This is an example of a(n) _________ strategy.
A) cost leader
B) customer oriented
C) differentiation
D) innovation
E) operational effectiveness
Operational Effectiveness
Refers to an organization's ability to perform activities more effectively and efficiently than its competitors, leading to superior performance.
Supply Chain
The entire system of production, handling, and distribution of goods from raw materials to final products to the consumer.
Production Time
The period required to manufacture or produce goods, from the start of the process to its completion.
- Identify approaches companies can use to achieve a competitive edge, such as cost leadership, differentiation, and innovation.
Verified Answer
MG
Melissa Griffin-HobsonMay 30, 2024
Final Answer :
E
Explanation :
Integrating your supply chain to cut down production time is an example of an operational effectiveness strategy. This approach focuses on improving internal processes and efficiencies to reduce costs and enhance productivity, rather than on differentiating products or services, innovating, or specifically targeting customer needs.
Learning Objectives
- Identify approaches companies can use to achieve a competitive edge, such as cost leadership, differentiation, and innovation.