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They refer to Plan, Ploy, Pattern, Position, and Perspective. This framework helps businesses identify different approaches to developing strategy.

Core competencies are a firm's strategic strengths that provide an advantage over competitors and are hard to imitate.

These are the critical operational dimensions a company must meet to satisfy its internal and external customers.

Order winners are aspects of a company's product or service that cause a customer to select that product over competitors. Order qualifiers are the minimum acceptable levels for those aspects.

A strategic tool used to analyze internal firm activities to gain a competitive advantage.

It involves the management of the flow of goods and services, from raw materials sourcing to delivering the final product to consumers.

A systematic approach to eliminating waste and creating flow within an organization to improve efficiency.

A method that provides organizations tools to improve the capability of their business processes by reducing variability.

The process of determining the production capacity needed to meet changing demands for its products.

The arrangement of physical equipment within a facility to optimize operations and promote efficient workflow.

A tool used to understand and analyze the strategic positioning of operations decisions and trade-offs.

A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs.

A comprehensive management approach that works towards long-term success through customer satisfaction and is based on the participation of all members of an organization.

A subgroup of a company that operates as an independent enterprise, with a separate mission and objectives.

The act of deciding between manufacturing a product in-house or purchasing it from an external supplier.

A process of comparing one's business processes and performance metrics to industry bests and best practices from other companies.

The cost advantage achieved by businesses when scaling up production, as the cost per unit decreases with increasing scale.