A.

i. How is operations strategy related to business strategy?

ANSWER:

There is no definite explanation that divides operations strategy between business strategy. However, the business strategy is more on holistic. It is the overall vision of the business that gives a direction where the business wants to be in the upcoming years while the operation strategy is controlled by the business strategy and helps the business to give its customers a better service and improve the company's bottom line.

ii. How does operations strategy impact business strategy?

ANSWER:

Operation strategies holds the company's operation where the business produces goods and services. Operation strategy covers all the business strategy, and both are crucial when it comes to competing in a market. If there is an effective operation strategy, the professionals in the operation management will maximize the usage of resources, people and technology to support the business strategy.

B. define and describe the concept of product life cycle. For each of the stages of a product life cycle, give an example of a product that is in that stage.

ANSWER:

Product life cycle is the time counted of the product from the day it was introduced to the market or consumers until it is removed from the shelves. This concept is usually used in the business industry to help them decide when it comes to advertising, reducing of prices, any decisions to their products. So the life cycle has 4 stages and this are;

1. INTRODUCTION- In this stage, this is where the business invest in advertising and campaign to let the customers aware the benefits of their product.

Example:

In a business industry, there are lot of ways to introduce their product, it can be through social media, advertising, and market campaign. So when they introduced, they will include there the discounts, benefits, rewards to attract the consumers and respond to their product.

2. GROWTH- In this stage, this is where the consumers are purchasing to the product. This means that the product that is introduced, is proven effective and now becoming popular that will lead to increase of sales. So if all of this is in a good track, competitors are increasing, the business will now focus on strategies on how to improve their market share and entry into new market.

Example:

Electric Scooters.

The product are still in the market for a few years. Those first competitors who have presented that can provide electric scooter that is more cheaper so that the price will fall. So in this case, the product now is more interesting for a bigger consumers to purchase. If the product is increasing when it comes to popularity, this means that the total revenue growth creates a sprint. If the product of the business in in the growth stage of the product life cycle, it often experience exponential growth.

3.MATURITY - In this stage, it is where the product of the business has already reached the peak market penetration. This is where the sales are slowly getting down because of competition. In maturity stage, prices are falling and the businesses will now focus in the efficiency and cost savings.

Example:

"FOODS"

we all know that food if very common and fast moving to consumers. If the turnover from this is high, this means that is will have a lot of competition so the margins and marketing cost are now limited.

4. DECLINE- In this stage, it is where the turnover of the product is now starting to decline. It is where the peak has already reached its point and the consumers behavior changes because of new innovations. So the competition cost control will be the primary weapon.

Example;

"NOKIA"

We all know that nokia is very known before and even until now. So their sales will decrease since the Iphone was introduced.

C. Explain the statements:

i. "All of the elements of the positioning strategy must be perfectly matched to 

market strategy"

ANSWER:

The elements of positioning strategy must be matched in market strategy because positioning strategy makes an image of the product of the business in the customer's mind. It defines the significant benefits that differentiate the company's product that has the same product in the market. The positioning strategy has an determining points that helps the company's product encounter the market standard while giving the consumer's value like price, leadership,innovation,etc. If there is an effective positioning strategy has matched in the market strategy, it can bring a message to consumers the reasons on why should this product is more preferred than the other competitor's product.

ii. The operations strategy must be linked to product/service plans and competitive 

priorities.

ANSWER:

The operation strategy must linked to product/service plans and competitive priorities is important so that it can provide a plan when it comes to the usage of the resources for them to obtain the objective and goals that are planned in the corporate strategy. Operation management professionals should work with the marketing so that they will understand the situation when it comes to competitive in the company's market before they will identify which competitive priorities is important.