Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
expand_more
expand_more
format_list_bulleted
Question
Chapter 1.7, Problem 15P
Summary Introduction
To determine: The concept of time based competition and its examples.
Introduction: The introduction into a market for the first time of a product with different characteristics and innovative design ahead of its counterparts is called the time based competition. To become a time-based competitor, some modifications are needed in the organization of some of the procedures. By adopting new techniques, the total time needed to produce a product or service is decreased.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
My product is called "The Perfect Cup." It is a reusable coffee cup that helps people save money and reduce waste.
Conduct a SWOT analysis for your product.
Strengths: What are the positive internal factors for your product? Examples could be a new, innovative product or service; location of the company; quality processes and procedures; or any other aspect that adds value to your product or service.
Weaknesses: What are the negative internal factors for your product? Examples could be undifferentiated products in relation to your competitors; location of the company; poor-quality goods or services; or a damaged reputation.
Opportunities: What are the positive external factors that could influence your product? Examples could be mergers; joint ventures or strategic alliances; new market segments; international markets; or a market vacated by an ineffective competitor.
Threats: What are the negative external factors that could influence your product? Examples could be new competitor in…
It is said that competition is not valued for its own sake but because it produces efficient market outcomes. However, conduct is tested against its impact on competition rather than its impact on efficiency. Carefully explain this apparent inconsistency. Use examples to illustrate your response.
To plan to compete against other firms, a firm needs to understand what physical, financial, and human resources it has, what it is good at, and how it is organized.
TRUE OR FALSE
Chapter 1 Solutions
Production and Operations Analysis, Seventh Edition
Ch. 1.3 - Prob. 1PCh. 1.3 - Prob. 2PCh. 1.3 - Prob. 3PCh. 1.3 - Prob. 4PCh. 1.3 - Prob. 5PCh. 1.3 - Prob. 6PCh. 1.3 - Prob. 7PCh. 1.3 - Prob. 8PCh. 1.3 - Prob. 9PCh. 1.3 - Prob. 10P
Ch. 1.3 - Prob. 11PCh. 1.3 - Prob. 12PCh. 1.7 - Prob. 13PCh. 1.7 - Prob. 14PCh. 1.7 - Prob. 15PCh. 1.7 - Prob. 16PCh. 1.7 - Prob. 17PCh. 1.7 - Prob. 18PCh. 1.7 - Prob. 19PCh. 1.7 - Prob. 20PCh. 1.7 - Prob. 21PCh. 1.8 - Prob. 22PCh. 1.8 - Prob. 23PCh. 1.8 - Prob. 24PCh. 1.9 - Prob. 25PCh. 1.9 - Prob. 26PCh. 1.9 - Prob. 27PCh. 1.9 - Prob. 28PCh. 1.10 - Prob. 29PCh. 1.10 - Prob. 30PCh. 1.10 - Prob. 31PCh. 1.10 - Prob. 32PCh. 1.10 - Prob. 33PCh. 1.10 - Prob. 34PCh. 1.10 - Prob. 35PCh. 1.10 - Prob. 36PCh. 1.10 - Prob. 37PCh. 1.11 - Prob. 38PCh. 1.11 - Prob. 39PCh. 1.11 - Prob. 40PCh. 1.11 - Prob. 41PCh. 1.11 - Prob. 42PCh. 1 - Prob. 43APCh. 1 - Prob. 44APCh. 1 - Prob. 45APCh. 1 - Prob. 46APCh. 1 - Prob. 47APCh. 1 - Prob. 48APCh. 1 - Prob. 49APCh. 1 - Prob. 50AP
Knowledge Booster
Similar questions
- Make a case for changing a company's highly customized computer system to a commercial off-the-shelf system. What are the potential problems? What are the potential benefits?arrow_forwardWhat are the possible threats to the real estate company? This is external to the real estate organization.What possible surprises that the real estate company may have as competition that currently doesn’t exist?arrow_forwardA profitable company will make it a point to determine how its competitors are doing business and try to do it better themselves. Benchmarking is one of the most effective tools available to an organization to ensure that these goals are being met. Many organizations use benchmarking as a way to measure organizational performance. What are the pros and cons of this approach? Has this approach always been used as a competitive tool? Provide at least two examples of companies using this type of tool to help them remain competitive within their market.arrow_forward
- There are some corporate strategists who have suggested that firms focus on maximizing market share rather than market prices. When might this strategy work, and when might it fail?arrow_forwardYou are an entrepreneur and you want to start a new venture by offering luxury items such as expensive leather bags for female customers. Your customers will be an essential part of the process and you will take their inputs before designing products. You believe this strategy will help you to stand out in the market as ‘you aim to produce what your customers desire’. Now as the business owner if you are asked to choose a process for manufacturing the products, which process would you choose and why?arrow_forwardGiven the success of Hyundai cars in the U.S. market in recent years, are they going to be another major competitive forces next to Japanese cars that three American automakers must pay attention to?arrow_forward
- The value test that a business plan must pass to attract financing from lenders and investors involves proving that the company can gain a O competitive advantage over its key competitors that the business venture will provide lenders and investors a high probability of repayment or an attractive rate of return that a market for the company's product or service actually does exist and that the company can actually build it for the cost estimates included in the plan that the industry in which the business will compete is growing faster than the overall economy and has room for more competitorsarrow_forwardOver the years the Government has established a NIT, IIT, AIIMS, IISER, IIM in each state. In this context, using similar examples discuss: - > Role of External Labor Market in successful execution of strategy. > Role of Brand Capability in successful execution of strategy.arrow_forwardEven if you have a better quality product, entering a highly competitive market with experienced competitors who have large funds and high levels of consumer loyalty might end in failure : how can you avoid this then ?arrow_forward
- What would be the skills, experience, subject-matter expertise, business acumen, team, innovations, industry connections, key advisors, and so on — that make an Air Cleaner Company the right ones to take advantage of a market opportunity?arrow_forwardIn markets where customers have heterogeneous preferences and there are many potential technological options available to assist in designing goods and services. Are dominant designs good for consumers, competitors, and suppliers? Explain your answer.arrow_forwardIf a venture is not ripe for the market, customers will usually wait until the market becomes ready for the product especially if it is a strong product. T Farrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you