| Core Services | Basic attributes that customers expect from the products they purchase. They want them, for example, to be made correctly, customized to their needs, delivered on time, and priced competitively.
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| Efficiency | Doing something at the lowest possible cost.
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| Effectiveness | Doing the right things to create the most value for the company.
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| Mass Customization | Producing products to order in lot sizes of one.
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| Operations Management (OM) | Design, operation, and improvement of the systems that create and deliver the firm's primary products or services.
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| Transformation Process | System by which resources are used to convert inputs into desired outputs.
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| Value | Ratio of quality to price paid. Competitive happiness is being able to increase quality and reduce price while maintaining or improving profit margins. (This is a way operations can directly increase customer retention and gain market share.)
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| Value-Added Services | Services that differentiate the organization from competitors and that build relationships that bind customers to the firm in a positive way.
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