4.5
TIME COMPETENCY
4.5.1 Concept of
time competency
Stalk (1988) introduced time-based competency (TBC) as “the next source of
competitive advantage”.
Time-based competency argues that a firm’s competitive advantage lies in its
ability to rapidly deliver services or products, and presents the need to
reduce
the time cycle involved with each stage of production included in the delivery of a
service or a product, which means shortening the time required for product design,
new product introduction,
raw materials purchasing, parts and components production,
assembly, distribution, marketing and sales.
A number of firms have since implemented TBC initiatives, including Toyota,
Honda, Citicorp, AT&T, GE, HP, ABB, Seven-11, Federal Express and Domino’s Pizza.
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4.5 TIME COMPETENCY
4.5.2 Time-based global operations strategy
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