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Printable Handouts
Navigable Slide Index
- Introduction
- Concept and framework of operations strategy
- The meaning of 'operations'
- Service operations
- Who has better operations?
- Southwest and “bags fly free”
- What is operation?
- An example: Postal Service and FedEx
- Three views of operations
- The operating system of the firm
- Designing the operating system
- Defining a 'good operating system'
- The principles of alignment
- Southwest Airlines vs. American Airlines
- Can an operation be good at everything?
- VCAP framework for operations strategy
- What defines a good operation?
- The VCAP framework
- The Swiss watch industry
- Assessment of current OpsStrat
- Swiss watch makers in the late 1970s
- The turnaround
- Innovation capability
- Dynamics in competency space
- The Swatch case - learning points
- Summary
This material is restricted to subscribers.
Topics Covered
- Operations management
- Concept
- Framework
- Resource view
- Process view
- Competency view
- Operating system of the firm
- A strategic framework for operations
- Principle of alignment
- Principle of value maximization
- VCAP framework
- Operational focus
- Tradeoff curves
- Efficient frontier
- Separating complexity and simplicity
- Operational competency space
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Talk Citation
Van Mieghem, J.A. (2016, October 31). Operations strategy: a decision and evaluation framework [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved December 13, 2024, from https://doi.org/10.69645/VHUS7514.Export Citation (RIS)
Publication History
Operations strategy: a decision and evaluation framework
Transcript
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0:00
Welcome to the first lecture
on Operations Strategy.
My name is Jan Van Meighem
and I am a professor
at the Kellogg School
of Management
at Northwestern University.
Our university is located
in Evanston, Illinois,
near the city of Chicago
in the United States.
Today, we will talk
about the decision
and evaluation framework
for operations strategy.
0:28
We will start this lecture
by explaining what we mean
by operations in general
and then specifically
what is meant
by the concept
of operations strategy.
We will do so by introducing
a few examples
and during the discussion,
also discuss the principles
of value maximization
and alignment.
These two principles
are at the core
of the framework
that we will use
for operations strategy.
That framework will be useful
to guide decisions
that managers must make,
as well as
to evaluate an existing
or a new operations strategy.
1:13
When you hear the word,
operations,
what do you think of?
What do people
in general think of?
What comes to mind first?
Perhaps, a picture like this
which is taking us back
to the dawn
of the Industrial Revolution,
on the shop floor of a factory.
However, the point that we want
to make in this lecture is that
operations is much more than
what this picture is conveying
and for that, it is useful
to think about
where the word operations
comes from?
It actually stems
from the word "opus"
which means in Latin, "work."
In other words,
operations is about anywhere
that work is performed.