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5. Time-based competition
Managers nowadays are very particular about the delivery cycle time, throughput
(manufacturing cycle) time, and the manufacturing cycle time of their operations.
Efficient and effective adherence of these different time-based strategies in the
production and operations of an organization will bring competitive advantages,
customer satisfaction, high quality products and service, and ultimately profit and
stability for the company.
6. Product life cycle and Diversity
The product life cycle has five stages: product development, introduction, growth,
maturity, and decline. Because of the world-class manufacturing environment,
highly-automated manufacturing process, product life cycle has become shorter. To
be competitive, managers must keep abreast of the fast changing technologies in
the market place, both domestic and global, through continuous product innovation,
product development through research, and product diversification in terms of low
cost, high volume products and high cost, small volume product lines. Do not stick
to one class of product lines. Diversity is the name of the game.
7. Global competition
Global business platform
Borderless economy
2015 ASEAN Integration
WTO
Multinational corporations businesses around the globe
8. Information Technology and Communication-Technology Management
Doing business online. Getting what you need through the net. Hewlett-Packard in
Hilton (2007) states that, The face of change in technology is becoming much
faster and accounting and finance people are very heavy users of technology more
so than a lot of the other functions
9. Just in Time Inventory