ISOM 351
Process and Systems Management - Answer-understanding and managing the processes and systems
that allow an organization to execute its business model
Strategy - Answer-implies a business model that is executed through processes and systems
Business models are derived from _________ , and ___________ through process and systems. -
Answer-strategy; executed
Strategy, business model, execution and PSM must be - Answer-connected; decisions about each must
be made with consideration of all of the others
Porter's Elements of Strategy - Answer-Activities; Resources; Decisions; Trade-Offs
Decisions are made regarding - Answer-Activities and Resources
Activities - Answer-what an organization chooses to do or not to do
Resources - Answer-How an organization chooses to deploy money, assets, time, managerial attention,
etc
Trade-Offs - Answer-what makes strategy difficult is that all fo these decisions require making choices
about trade-offs
, For our purposes, the most useful decisions for use to focus on are: - Answer-Where to compete
How to compete
Execution
(Both operational and organizational)
Organizational execution - Answer-includes decisions like capital allocation practices, reporting lines,
organizational structure, management development, succession planning, etc.
Operational Execution - Answer-includes decisions like facilities location, facilities size, staffing levels, job
design, process measurement, etc.
"A good business model answers Peter Drucker's age-old questions, - Answer-Who is the customer? And
what does the customer value?'
A business model explains: - Answer-Who the customers are,
What they value,
The economic logic of the firm and,
How the firm delivers value to customers
Process and systems reflect - Answer-internally focused decisions and activities of the firm, how the firm
will leverage partnerships and the key resources needed.
Economic logic reflects decisions - Answer-related to cost structure and revenue streams.
Products and services reflect - Answer-externally focused decisions and activities of the firm related to
its value proposition
Process and Systems Management - Answer-understanding and managing the processes and systems
that allow an organization to execute its business model
Strategy - Answer-implies a business model that is executed through processes and systems
Business models are derived from _________ , and ___________ through process and systems. -
Answer-strategy; executed
Strategy, business model, execution and PSM must be - Answer-connected; decisions about each must
be made with consideration of all of the others
Porter's Elements of Strategy - Answer-Activities; Resources; Decisions; Trade-Offs
Decisions are made regarding - Answer-Activities and Resources
Activities - Answer-what an organization chooses to do or not to do
Resources - Answer-How an organization chooses to deploy money, assets, time, managerial attention,
etc
Trade-Offs - Answer-what makes strategy difficult is that all fo these decisions require making choices
about trade-offs
, For our purposes, the most useful decisions for use to focus on are: - Answer-Where to compete
How to compete
Execution
(Both operational and organizational)
Organizational execution - Answer-includes decisions like capital allocation practices, reporting lines,
organizational structure, management development, succession planning, etc.
Operational Execution - Answer-includes decisions like facilities location, facilities size, staffing levels, job
design, process measurement, etc.
"A good business model answers Peter Drucker's age-old questions, - Answer-Who is the customer? And
what does the customer value?'
A business model explains: - Answer-Who the customers are,
What they value,
The economic logic of the firm and,
How the firm delivers value to customers
Process and systems reflect - Answer-internally focused decisions and activities of the firm, how the firm
will leverage partnerships and the key resources needed.
Economic logic reflects decisions - Answer-related to cost structure and revenue streams.
Products and services reflect - Answer-externally focused decisions and activities of the firm related to
its value proposition
