| competition | the efforts of two or more parties to secure the business of another party by offering the most favorable terms.
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| competitiveness | how successful one party is in offering favorable terms and securing the business. More favorable terms may involve a lower price, higher quality, a faster delivery time, and other aspects of the product.
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| distinctive competencies | the special attributes or abilities that give an organization a competitive edge.
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| environmental scanning | considering events and trends that present threats or opportunities for a company.
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| hierarchy of decisions | strategic decisions (broad scope) establish the framework for tactical decisions (moderate scope) which in turn establish the framework for operating decisions (narrow scope).
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| mission | the basis for an organization; its reason or purpose.
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| mission statement | a clear statement of purpose that serves as a guide for strategy and decision-making.
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| operations strategy | the management of processes, methods, resources, quality, costs, lead time, and scheduling in order to produce a product or a service.
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| order qualifiers | characteristics that customers perceive as minimum standards of acceptability for products or services to be considered as a potential purchase.
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| order winners | characteristics of an organization's goods or services that cause them to be perceived as better than the competition's goods or services.
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| productivity | a measure of output relative to input; the ratio of output to input.
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| quality-based strategy | a strategy that focuses on quality in all phases of an organization.
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| strategy | a general plan for achieving a goal.
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| tactic | a method or action intended to accomplish a strategy.
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| time-based strategy | a strategy that focuses on reducing the amount of time needed to accomplish tasks.
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