Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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![Chapter 2 | Corporate Strategy, Performance, and Sustainabilit
TABLE 2.2 Some Common Operations Performance Measures
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Performance category
Measures
Financial
• Net profit margin (net income after taxes/net sales)
Current ratio (current assets/current liabilities)
Inventory turnover (cost of goods sold/average inventory value)
• Total cost compared to standard or desired cost (purchase, labor, manufacturing,
and transportation cost; e.g., purchasing efficiency = actual purchases/purchase goal)
%3D
Productivity
Single-factor productivity (outputs/labor $; outputs/material $)
Multiple-factor productivity (outputs/[labor $ + material $ + energy $])
• Number of defects per unit, or number of complaints per customer
• Cost of poor quality (scrap losses + warranty costs + rework costs + return costs)
Average time between product failures
ag Product returns per units sold; warranty claims per units sold
• Number of work centers/processes using statistical process control
Number of employees with quality training
Number of quality awards received
Percentage of suppliers with quality certifications
• Order delivery time accuracy; order quantity accuracy idovs
• Customer satisfaction score
Quality
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Customer service
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on coa
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• Number of customer services available
enuaom viivonbongev Time needed to change delivery schedules, to change a customer's order o
• Number of stockouts per period
Codeugusd broneo Completeness of websiteubniinim Ioo Isdolg sri ai taiog ai srea boog A
Csu bioAG o pe gau
Number of "friends" on social websites
Call center capabilities
• Number of service awards received
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Number of business ethics and sustainability initiatives adopted
• Percentage of purchases from small, minority, or women-owned suppliers
Percentage reduction in greenhouse gas emissions (carbon footprint) sniaud 18
• Number of fair trade products purchased
Percentage of waste recycled
Percentage of suppliers that are ISO 14000 certified
Number of ethics/sustainability awards received
Ethics and sustainability
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or almost $5 million in profits per hour." These profits were not necessarily the result of something Exx-
on Mobil's
s managers did particularly well; they were caused in large part by uncontrollable environmental](https://content.bartleby.com/qna-images/question/2e4e9fba-2965-475b-951b-5dcd96d38a0e/4f7ce15f-a30e-4aee-a886-a82d3668c562/gnsihg9_processed.jpeg)
Transcribed Image Text:Chapter 2 | Corporate Strategy, Performance, and Sustainabilit
TABLE 2.2 Some Common Operations Performance Measures
ei mit orl ansom i ewosbni aidA
Performance category
Measures
Financial
• Net profit margin (net income after taxes/net sales)
Current ratio (current assets/current liabilities)
Inventory turnover (cost of goods sold/average inventory value)
• Total cost compared to standard or desired cost (purchase, labor, manufacturing,
and transportation cost; e.g., purchasing efficiency = actual purchases/purchase goal)
%3D
Productivity
Single-factor productivity (outputs/labor $; outputs/material $)
Multiple-factor productivity (outputs/[labor $ + material $ + energy $])
• Number of defects per unit, or number of complaints per customer
• Cost of poor quality (scrap losses + warranty costs + rework costs + return costs)
Average time between product failures
ag Product returns per units sold; warranty claims per units sold
• Number of work centers/processes using statistical process control
Number of employees with quality training
Number of quality awards received
Percentage of suppliers with quality certifications
• Order delivery time accuracy; order quantity accuracy idovs
• Customer satisfaction score
Quality
SLG
nd wolls
cuTOR oonsisbo
brog
Customer service
200 elaisiem bns Todalae
di diw aleoo Jugni oeeorosb of
on coa
lehsiam geso Complaint resolution time
• Number of customer services available
enuaom viivonbongev Time needed to change delivery schedules, to change a customer's order o
• Number of stockouts per period
Codeugusd broneo Completeness of websiteubniinim Ioo Isdolg sri ai taiog ai srea boog A
Csu bioAG o pe gau
Number of "friends" on social websites
Call center capabilities
• Number of service awards received
ujuk coubro
grede sson elsinstem bns 10dai rot elzo
ab cosp bice u
Number of business ethics and sustainability initiatives adopted
• Percentage of purchases from small, minority, or women-owned suppliers
Percentage reduction in greenhouse gas emissions (carbon footprint) sniaud 18
• Number of fair trade products purchased
Percentage of waste recycled
Percentage of suppliers that are ISO 14000 certified
Number of ethics/sustainability awards received
Ethics and sustainability
to pe perret
r pr
peco
00
Gor
vitonbort
pit emd smo8 notesmun
aim sd oale
brognceg on
17
or almost $5 million in profits per hour." These profits were not necessarily the result of something Exx-
on Mobil's
s managers did particularly well; they were caused in large part by uncontrollable environmental
Transcribed Image Text:drmance, and Sustainability
5.1 What
gies, and how are they different from corporate strategies?
6. What ao operations strategies have to do with core competencies? erwadnoasb bnsscoldeto1m
How can operations align its strategies with that of the corporation?n
8. What does performance measurement have to do with corporate strategy? ubog sbsu ist bni
7.
9.
What is a balanced scorecard?
How is a dashboard different from a scorecard?
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10.
What is big data? Big data analytics?
12. What is business ethics? How does that differ from corporate social responsibility?uloa) 2M
13. What is a fair trade product?
11.
What is sustainability? Is this a new concept?
To what does the triple bottom line refer? 0021 bovio l1lei ort nomsq a gu
14.
15.
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W 1203 6
DISCUSSION QUESTIONS
20LAGG 135
What would be a good mission statement for your university?
1.
CMO
2.
How would you rank, in order of importance, the three competitive dimensions for your university? For your
favorite restaurant?
3. Explain economies of scale using a manufacturing firm and then your university.
4.
Using a bank and then a fast-food outlet, describe all of the seven customer service aspects.
What is the core competency of McDonald's? Southwest Airlines? Can they do it better than all of
their competitors?
5.
6. Strategy trade-offs must be considered in operations. Describe what these might be for a high-quality racing
bicycle manufacturer and then a low-cost bicycle manufacturer.
rspoL ponLe
7. Why are performance measures so important to the organization?
How can financial and productivity measures be both good and bad for tracking a firm's performance?
9. Using the formula for labor productivity, describe all the ways a firm could increase labor productivity.
10. Using table 2.2, list a number of performance measures you might use for a sandwich shop and then
COUCGLUGQ 90
8.
your university.
How could a balanced scorecard help improve a firm's performance measurements? Design one for your per-
11.
formance as a student.
1000
Why is big data analytics becoming so important now?
Could a small business use big data analytics? Explain. brs 25idivitoubonq no1st-signiz orb scluple
31300
12.
Are there any fair trade producers in the United States today?
14.
15.
13.
How could your university use the triple bottom line? Is it already using it?
EXERCISES AND PROJECTS
1. Go online and find the mission statements of three organizations not mentioned in this chapter and analyze
them for completeness. See if you can improve each mission statement. Which of the three strategies does
each organization use to compete? Defend your answer.
Go online to www.zappos.com and pretend you are looking for some shoes or clothing for a graduation cere-
2.
mnlovee was, how willing the employee was to help you, and how long you had him or her
onl project and report on what he
mony or party. Be picky. Don't buy anything. Report on how long it took before you were talking to someone,
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