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Strategies for Meeting the Global Standards Essay


Elements of an Operation Plan: Polar Attributes

To become a world-class organization, a company must have a fully functional operation plan (OP). The organization will have to set the milestones for its further progress. An OP typically includes the elements that define the essential objectives and the means of achieving them (Corzine 2013).

Strategic plan

A strategic plan points to the desired outcomes and helps select the tools for achieving the necessary results (Corzine 2013).

Objectives

The main objectives must be listed as well (Corzine 2013).

Key Performance Indicators (KPIs)

KPIs must be discussed with both the managers and the staff members so that realistic expectations could be set (Corzine 2013).

Communication

The communication process must be fast and uninhibited. Thus, performance quality can be improved by reducing the percentage of errors and defects (Corzine 2013).

Becoming the World Class Company

Operating in the context of the global economy means having a big competitive advantage and meeting the current qualification criteria. Therefore, it paramount for a firm entering the target market to brand itself and its products successfully, as well as motivate the staff to excel in their performance. Laudal (2010) explains that the latter can be achieved by promoting the behavioral patterns based on the principles of Corporate Social Responsibility (CSR), which will compel the employees to make ethical decisions in the workplace, as Elg and Hultman (2011) assert.

Crucial Operation Strategies

Goals and Objectives

When determining the operation strategies that are critical to the company’s functioning, one must list performance excellence and customer communication among the indispensable elements (Pyzdek and Keller 2014). For instance, the organization in which I used to work deployed surveys and e-tools (i.e., chats, Skype calls, etc.) as the means of enhancing the communication process. As a result, sales rose by 28%. Furthermore, Total Quality Management (TQM) and Six Sigma principles were used to encourage change and general service improvement in the organization (Pyzdek and Keller 2014).

Gaining Competitive Advantage

To build a competitive advantage in strategic operations, the company must promote quality improvement. The latter, in its turn, will become a possibility after the introduction of the CSR principles into the corporate environment. For a company working in the product sector, the World Class Manufacturer (WCM) concepts should be viewed as necessary for consideration, as Muda and Hendry (2002) suggest. Combined with an improved information management system, the identified approach is likely to help a firm propel to the top in the target market.

Drawing Examples From the Global Economy Realm

Paradigms and Typical Patterns

An overview of the companies that are currently at the helm of the target market has shown that the principles of WCM and the promotion of CSR are typically suggested as the first steps toward building a competitive advantage and attracting new customers (Chiarini and Vagnoni 2014). For example, Toyota has shown a propensity to use the WCM principles as the leeway to becoming the dominant organization in the market, as Chiarini and Vagnoni (2014) explain. A heavy emphasis has also been placed on enhancing the communication process between the company and its customers.

Strategies for Becoming World-Class

Apart from focusing on communication and quality standards, the leaders of entrepreneurship must also promote sustainable use of the corporate resources so that the company could retain financial flexibility in decision-making in any scenario, according to Kayis (2014). Similarly, Apple’s experience has shown that the use of organizational integration along with financial commitment, as mentioned by Lazonick, Mazzucato, and Tulum (2013), is likely to have an immediate positive effect on the firm’s prospects.

Reference List

Chiarini, A. and Vagnoni, E. (2014) ‘World-class manufacturing by Fiat. Comparison with Toyota Production System from a Strategic Management, Management Accounting, Operations Management, and Performance Measurement dimension’, International Journal of Production Research, 53(2), pp. 590–606.

Corzine, S. (2013) Operational and business continuity planning for prolonged airport disruptions. New York, NY: Transportation Research Board

Elg, U. and Hultman, J. (2011) ‘Retailers’ management of corporate social responsibility (CSR) in their supplier relationships – does practice follow best practice?’, The International Review of Retail, Distribution and Consumer Research, 21(5), pp. 445-460.

Kayis, S. K. S. I. B. (2014) ‘Sustainable product development in practice: an international survey’, Journal of Manufacturing Technology Management, 25(6), pp. 848-872.

Laudal, T. (2010) ‘An attempt to determine the CSR potential of the international clothing business’, Journal of Business Ethics, 96(1), pp. 63–77.

Lazonick, W., Mazzucato, M. and Tulum, O. (2013) ‘Apple’s changing business model: What should the world’s richest company do with all those profits?’, Accounting Forum, 37(4), pp. 249-267.

Muda, S. and Hendry, L. (2002) ‘Proposing a world-class manufacturing concept for the make-to-order sector’, International Journal of Production Research, 40(2), pp. 353-373.

Pyzdek, T. and Keller, P. (2014) The Six Sigma handbook. 2nd edn. New York, NY: McGraw-Hill.

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IvyPanda. (2020, August 1). Strategies for Meeting the Global Standards. Retrieved from https://ivypanda.com/essays/strategies-for-meeting-the-global-standards/

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1. IvyPanda. "Strategies for Meeting the Global Standards." August 1, 2020. https://ivypanda.com/essays/strategies-for-meeting-the-global-standards/.


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IvyPanda. "Strategies for Meeting the Global Standards." August 1, 2020. https://ivypanda.com/essays/strategies-for-meeting-the-global-standards/.

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IvyPanda. 2020. "Strategies for Meeting the Global Standards." August 1, 2020. https://ivypanda.com/essays/strategies-for-meeting-the-global-standards/.

References

IvyPanda. (2020) 'Strategies for Meeting the Global Standards'. 1 August.

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