Premium Essay

Learning Team Reflection: Chase Strategy

In: Business and Management

Submitted By jdom0515
Words 348
Pages 2
Learning Team Reflection: Chase Strategy
OPS/571
June 24, 2013

Chase strategy is when production meets the demand and capacity from one period to the next. This strategy is mostly used when demand is unpredictable and there is no inventory. Many cases when using this strategy result in a hire turnover rate when it comes to employment which can lead to insecure and unhappy employees. Problems with labor unions may arise as well. Other results of this strategy include increased inventory costs and erratic use of factories and equipment. This allows factories to have a large amount of flexibility. A major advantage of the strategy is that inventory is allowed at its lowest level which can provide a savings to some companies. The just-in concept firms utilize the chase strategy to aggregate planning. There are many companies that prefer to use a combination of the level and chase strategy. The combination enables optimization of goals and lower costs more so than independently. Companies and businesses within the service industry that use this strategy are demand matching which means that the workforce must match the demand. Another example of an industry that uses the chase strategy is the auto industry. Companies like Ford, GM, and Hyundai have automobiles that depreciate quickly and the cost of warehousing, insurance, and taxes are high. Automobiles cannot be stockpiled for too long so therefore, only so many are made based on demand of the consumer. Another example would be the fast food industry. For example, Chik-Fil-A would only produce a meal once an order is taken which meets the demand of the customer. When companies in the service industry use Chase Strategy, they tend to hire hourly employees, part time employees and allow overtime in order to meet the demand of customers. Some disadvantages of using the Chase Strategy would be a high turnover

Similar Documents

Free Essay

Chase

...Strategy Learning Team Reflection: Chase Strategy Carla Brown, Christine Denson, Shacorra Hall, Danielle McGregor, Donnie Phillips OPS 571 October 1, 2015 Dr. Deborah Jones Learning Team Reflection: Chase Strategy Chase Strategy: Introduction Learning Tea A will discuss the Chase strategy. The examination of two companies that may benefit from the utilization of the Chase strategy will take place. Challenges a company may face implementing the Chase strategy within their organization is researched. Advantages and disadvantages of the Chase strategy are identified. Whether intentionally or unintentionally all companies depend on a form of demand generation strategy. The Chase strategy is best recognized when production meets demand from one period to the next. The strategy is most effective when demand is unpredictable and there is no inventory. According to "Chase Strategy Basics: A Lead Generation How-To" (2014), "The basic principle of the Chase Strategy is to identify the market you want to target with your marketing, and create a profile of potential buyers” (Chase Strategy Basics). Companies create a database of potential customers, and then take steps to get leads and turn leads to sales. The chase strategy concentrates selectively targeted accounts. The chase strategy is not for every business. As with all tactics, there are pros and cons with the Chase strategy. Some advantages when applying the Chase strategy are aggregating planning; inventory is allowed...

Words: 762 - Pages: 4

Premium Essay

Ops 571 Week 3

...Learning Team Reflection, Week 3: Team D OPS/571 January 27, 2013 Professor Marticek Learning Team Reflection, Week 3: Team D Production planning is a critical component in a restaurant industry to ensure the business has the items on the menu ready and available for the customers. The customer will place a food order with a resource working for the company, the chef will prepare the meal, and the server will serve the customers the food. In fast food restaurants, the organization prepares and serves from a little different. The customer still picks an item from the menu, but the customer service representative will take the order and give the food to the customer (Jacobs & Chase, 2010, Chapter 16). These types of companies us a chase strategy, which continuously matches capacity with changing levels of demand. The chase strategy has its advantages, but it also has many challenges, which can cause an organization and its workers grief. Some of the companies that Team D identified as using the chase strategy are Applebee’s, McDonalds and Ford. The following paper will discuss the chase strategy, why these organizations would use it, and the challenges the companies could experience using the strategy. The Chase Strategy The chase strategy requires a business owner to have enough trained employees to take orders, prepare the products for consumption, and deliver the food. In addition, the resources need to know how to run a computer system to charge the...

Words: 457 - Pages: 2

Premium Essay

The Chase Strategy Defined Companies Utilizing the Chase Strategy

...Learning Team “A” Reflection Week 3 \\ OPS/571 October 12, 2015 Dr. Learning Team “A” Reflection Week 3 This week’s discussion of chase strategy matched well with discussions last week related to fast food and Wendy’s in particular. Team A explores chase strategy how Wendy’s, our company of choice from last week’s assignment met these requirements. The Chase Strategy Defined/ Companies Utilizing the Chase Strategy The Chase Strategy is a part of the production planning strategy. It involves trade-offs with workforce size, work hours, inventory and back logs. According to Jacobs and Chase (2011), match the production rate to the order rate by hiring and laying off employees as the order rate varies. The success of this strategy depends on having a pool of easily trained applicants to draw on as order volumes increase. The caveat to this strategy is that employees may feel unmotivated to produce at a higher rate if there’s not much work. This lack of motivation is due to a decrease in the workload and employees may try to stretch the time it takes to process an order or task out of fear of being terminated. This may happen in companies that use a made-to-order approach and may have highs and lows in their production process. Companies that may use the Chase strategy is an automotive company such as Ford Motor Company and temporary agencies that place applicants to a specific job need for a certain period of time. The process is due to aggregate planning...

Words: 700 - Pages: 3

Premium Essay

Leadership and Organisational Behavior

... to avoid any repercussions? | Analysis | Detailed analysis of the problem statement. * Identification & Analysis of a problem * Effective Decision Making * Identifying and Implementing Changes * Communications | Solutions | Identification and critical evaluation of potential workable solutions to the problem.  | Reflection | Statement about how this assignment influenced my personal, academic, and professional leadership and managerial development. | References & Literature Review. | Reference to Scholarly reviews during the analysis. | * Overview of the Organization: (Source: Google Images) The Organization that will be the topic of discussion for this project paper is J.P.Morgan Chase & Co. & Co. (India operations are under J.P. Morgan Services India Private ltd). J.P. Morgan Chase & Co. is a leader in financial services, offering solutions to clients, in more than 100 countries with one of the most comprehensive global product platforms available. Headquartered in New York, the aim of this company is to be the World’s most trusted and respected financial services institution. J.P.Morgan Chase & Co.'s activities are organized, for management reporting purposes, into six business...

Words: 4511 - Pages: 19

Premium Essay

Toyota’s New Marketing Strategies to Rebuild the Company’s Image

...Abstract This paper explores new marketing strategies initiated by Toyota Motor Company (“Toyota”) to improve the trust and overhaul of the company’s image in response to a $10M recall in 2010. The vehicles that were recalled resulted from an introduction of acceleration-related accidents for which Toyota encountered hundreds of lawsuits (Jacobs & Chase 2014). Naturally, the recalls and lawsuits threatened to tarnish the company’s image. Thus, in an effort to reconstruct this persona, the company improved in its total quality management (“TQM”) program which resulted in many new marketing strategies including, global advertising campaigns, technological developments, quality and safety reforms (Kozaki, Oura & Amasaka, 2012). Specifically, this included one of the new marketing initiatives included an international computer database being able to track all repairs, while decreasing customer complaints from months, to days (Jacobs & Chase, 2014). Additionally, Toyota accommodated the advertising strategy by eliminating national advertising campaigns for which they promoted the cars for safety, dependability, and reliability. The automaker also reorganized its just-in-time (“JIT”) and the Toyota Production System (“TPS”) production processes (Amasaka, 2009). Toyota announced a new managing director to restore and overlook all safety-related concerns, in addition to the company building Swift Market Analysis Response Teams (“SMART”), teams responsible for finding safety defects...

Words: 3031 - Pages: 13

Premium Essay

Assignment 1: Leadership Style And Philosophy Impact/Evaluation

...stakeholders be professional and do what needs to be done. According to Smith (2017), a transformational leader creates an empowering culture that includes, values, shared vision, intrinsic needs and covenants. The principal rarely becomes authoritative in her leadership approach, but has had to use it on occasion when direction was necessary. In my opinion, you seem to get a much better outcome when stakeholders are given time to reflect and come up with their own solutions or ways to accomplish a certain task, which empowers the individual, and brings about everlasting change. Two examples of how the administrator’s leadership style and philosophy have impacted the administrative or leadership practices include: 1. The School Leadership Team (STT) has a huge responsibility to lead, including instructional coaching duties, and mentoring the new teachers. Parameters were set in place by the principal, offering a clear vision, including clearly-defined values and teachers are becoming empowered through leadership opportunities, which have been devoid in the past. Therefore, I think the leadership style is effective, because the administrator is willing to share the leadership, and I have witnessed firsthand the impact an instructional coach is having on the school, and the individual growth of that coach is becoming immeasurable. 2. The site administrators current practice is to have her “office” on the go. At the practicum site, there is a spot in the school, which is centrally...

Words: 2968 - Pages: 12

Premium Essay

The 5 Minds of Manager

...The . The world of the manager is complicated and confusing. Making sense of it requires not a knack for simplification but the ability to synthesize insights from different mind-sets into a comprehensible whole. Five Minds of a byjonathan Gosling and onathan Gosling and Henry Mintzberg Manage ^ ^ -^ T HE CHIEF EXECUTIVE of a major Canadian com- pany complained recently that he can't get his engineers to think like managers. It's a common complaint, but behind it lies an uncommonly important question: What does it mean to think like a manager? Sadly, little attention has been paid to that question in recent years. Most of us have become so enamored of "leadership" that "management" has been pushed into the background. Nobody aspires to being a good manager anymore; everybody wants to be a great leader. But the separation of management from leadership is dangerous. Just as management without leadership encourages an uninspired style, which deadens activities, leadership without management encourages a disconnected style, which promotes hubris. And we all know the destructive HARVARD BUSINESS REVIEW 54 power of hubris in organizations. So let's get back to plain old management. The problem, of course, is that plain old management is complicated and confusing. Be global, managers are told, and be local. Collaborate, and compete. Change, perpetually, and maintain order. Make the numbers while nurturing your people. How is anyone supposed to reconcile all...

Words: 6446 - Pages: 26

Premium Essay

It Case Study

...new, that "breaks into" the market or society. Information technology (IT) is widely understood to be the enabling technology of the 21st century. IT has transformed, and continues to transform, all aspects of our lives: commerce and finance, education, employment, energy, health care, manufacturing, government, national security, transportation, communications, entertainment, science, and engineering. IT and its impact on the U.S. economy-both directly (the IT sector itself) and indirectly (other sectors that are powered by advances in IT)--continue to grow in size and importance. Information Technological innovation is essential for human development. From the printing press to the computer, people have devised tools for facilitating learning and communication. Technology is not inherently good or bad, the outcome depends on how it is used Information and technology (IT) involves innovations in microelectronics, computing (hardware and software), telecommunications and opto-electronics micro-processors, semiconductors, fibre optics. These innovations enable the processing and storage of enormous amounts of information, along with rapid distribution of information through communication networks. It is...

Words: 4496 - Pages: 18

Premium Essay

Pdf, Doc, Docx,

...done, to understand all the underlying forces at play in a situation, and to have the courage to initiate action to make things better; (3) To develop the leadership, the first thing that needs to be done is in yourself (“managing energy in yourself” or “self-leadership”). By constant studies, practices and active learning, people can obtain the capability to tell strategic stories; they can also attempt to overcome the fear of rejection (FoR) through balancing listening to others’ opinions and being confident of their owns. These points are recognized important due to the following notions. First, it breaks the stereotype that people’s views reply on their positions and manifests the possibility and necessity for juniors to build up their own LPV. Second, it offers critical procedures and guidelines on how to facilitate with the LPV for achieving effective leaderships. Moreover, it emphasizes the significance of self-leadership prior to motivating others. Comparing with motivating other, self-leadership, characterized by active study and self-cautious, is a more fundamental and realistic step for those who are not in a leader’s position to practice. Each learning point has offered valuable practical indications. From my personal perspective, the suggested likeliness for individuals who are not in the leader status or title to promote their ability of leadership reminds and inspires me to jump out of the limited views seen from my entitled position. First,...

Words: 5730 - Pages: 23

Premium Essay

Swiffer

...http://hr.blr.com/whitepapers/Staffing-Training/Leadership/10-Qualities-that-Made-Abraham-Lincoln-a-Great-Lea 10 Qualities that Made Abraham Lincoln a Great Leader By Catherine L. Moreton, J.D. Capacity to Listen to Different Points of View While researching her Pulitzer Prize winning book, Team of Rivals: The Political Genius of Abraham Lincoln, Kearns Goodwin learned that Lincoln had the capacity to listen to different points of view. He created a climate where Cabinet members were free to disagree without fear of retaliation. At the same time, he knew when to stop the discussion and after listening to the various opinions, make a final decision. Ability to Learn on the Job Lincoln was able to acknowledge errors, learn from them, and then move. In this way, he established a culture of learning in his administration, said Kearns Goodwin. Ready Willingness to Share Credit for Success In response to concerns expressed by friends about the actions of some of his Cabinet members, Lincoln stated that the "path to success and ambition is broad enough for two" said Kearns Goodwin. When there was success, Lincoln shared the credit with all of those involved. Ready Willingness to Share Blame for Failure When mistakes were made by members of his Cabinet, Lincoln stood up for them said Kearns Goodwin. When contracts related to the war effort raised serious questions about a member of his administration, Lincoln spoke up and indicated that he and his entire Cabinet...

Words: 4909 - Pages: 20

Premium Essay

Report

...committed to becoming a successful manager in a retail store or corporate level. I am willing to go above and beyond to reach that goal. I am a driven, compassionate, and hardworking individual. My goal is to one day get marry and have a family. I will be loving and proactive in building and maintaining my relationships with my employees, family and friends, so that I may be considered a successful wife, mother, daughter, sister, aunt, friend, co-worker, and manager. Elevated Speech Hi my name is Carmelia Bell. I am a senior at DeVry. I’m graduating June 30 of this year. I have 4 years of an assistant manager experience. I’m currently working as a team lead at Target. There I have driven my team of becoming number one out of a group of 300 stores of having the highest guest experience score. Our goal was 88% and I led my team of getting a 99% score. I’m looking for company where I can contribute to their company success by driving for outstanding results for them as well. I am a dedicated and hardworking person with the mindset of being the best. I...

Words: 3474 - Pages: 14

Premium Essay

Risk Management

...MAKING ENTERPRISE RISK MANAGEMENT PAY OFF Thomas L. Barton William G. Shenkir Paul L. Walker Prentice Hall PTR One Lake Street Upper Saddle River, NJ 07458 www.phptr.com Editorial/Production Supervision: KATHLEEN M. CAREN Executive Editor: JIM BOYD Marketing Manager: BRYAN GAMBREL Manufacturing Manager: MAURA ZALDIVAR Cover Design: TALAR BOORUJY ©2002 Financial Executives Research Foundation, Inc. Published by Financial Times/Prentice Hall PTR Pearson Education, Inc. Upper Saddle River, NJ 07458 Prentice Hall books are widely used by corporations and government agencies for training, marketing, and resale. The publisher offers discounts on this book when ordered in bulk quantities. For more information, contact: Corporate Sales Department, Phone: 800-382-3419; Fax: 201-236-7141; E-mail: corpsales@prenhall.com; or write: Prentice Hall PTR, Corp. Sales Dept., One Lake Street, Upper Saddle River, NJ 07458. All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher. Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 ISBN 0-13-008754-8 Pearson Education LTD. Pearson Education Australia PTY, Limited Pearson Education Singapore, Pte. Ltd. Pearson Education North Asia Ltd. Pearson Education Canada, Ltd. Pearson Educación de Mexico, S.A. de C.V. Pearson Education—Japan Pearson Education Malaysia, Pte. Ltd. Pearson Education, Upper Saddle River, New Jersey A D V I S O R Y C O...

Words: 73678 - Pages: 295

Premium Essay

Ashelyganga

...Introduction Labour markets may be local or international in their scope and are made up of smaller, interacting labour markets for different qualifications, skills, and geographical locations. They depend on exchange of information between employers and job seekers about salary, conditions of employment, level of competition, and job location. The nominal market in which workers find paying work, employers find willing workers, and wage rates are determined.(Jenkins, 2004) Graduated market place The marketplace for graduates are ample but chances of getting employed are challenging in Singapore. Fresh graduates might be eased to realize that passage level positions are still accessible. According to Trade and Industry Minister Lim Hng Kiang, there will be more than 30,000 employments created this year, of which 6,000 will originate from new ventures coming into Singapore. (Getting A Job in Singapore, 2013) Singapore Management University’s graduates from the 2012 cohort have registered a robust overall employment rate of 91.7% and higher salaries across five of the university's degree programmes. These healthy results were achieved despite the uncertain global and local economic conditions in 2012.This was the first time the three autonomous universities conducted a joint Graduate Employment Survey (GES).  (Smu.edu.sg, 2013) Singapore’s current demand are for the healthcare, transport, education, aerospace, insurance, service, biomedical and construction industry. (Getting...

Words: 3544 - Pages: 15

Premium Essay

Bank of America

...Introduction: The Bank of America was formed in 1998 after the merger of California based Bank of America and the Nations Bank of North Carolina. At the end of the 20th century the bank stood as the second largest bank in the American market with close to 4500 branches operating in 21 states. Most of these branches were located in high growth markets of the south and west coast. Globally, it employed 1, 40,000 employees across 190 nations, over $8 billon in revenues, $360 billion in deposits and some $600 billon in assets. However the markets had been consolidating for sometime with the total number of banks in America having reduced to 7000 from an figure of 14000 first recorded in 1985. Intense competition characterized the market and the challenge for national banks was to be able to localize product and service offerings for their customers. Financial services had traditionally been looked upon as commodities by banks and lack of experimentation marked the sector. The sector was however slowly realizing that traditional methods of cost reduction and other control mechanisms could only take growth so far. ‘Organic Growth', a higher wallet share of existing customers was a concept of much relevance in the highly competitive market. For achieving this Bank of America had given more freedom to individual bank managers to undertake more responsibilities. Others like Washington Mutual (WAMU) had introduced new models of customer experience, benchmarking their services...

Words: 15439 - Pages: 62

Free Essay

What It Means to Work Here

...compensation schemes, health care benefits, training programs, and other talent-management practices are in line with the rest of the industry’s. While this strategy may be useful for bringing job candidates to the door, it’s not necessarily the most effective way to usher the right people across the threshold – great employees who will be enthusiastic about their work and fiercely loyal to the organization and its mission. What It Means to Work Here Nor does marching in lockstep with industry standards prompt companies to consider what’s unique about their histories and values or potential employees’ attitudes about work. Certainly, reasonable pay and a breadth of health care options matter to prospective hires, as do the tasks they’ll have to perform. But people also choose jobs–and, more important, become engaged with their work – on the basis of how well their preferences and aspirations mesh with those of the organization. Imagine yours is one of three job offers a talented candidate is mulling over. She hears a little about the orientation program at each firm. At your company, the first three months their ability to attract and retain the right people–employees who are excited by what they’re doing and the environment they’re operating in. Such people are more likely to be deeply engaged in their work and less likely to chase after slightly...

Words: 5430 - Pages: 22