GMS 200 Lecture Notes - Lecture 12: Strategic Business Unit, Competitive Advantage, Swot Analysis

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Competitive advantage the ability to do something so well that one outperforms competitors. Sources of competitive advantage includes: cost and quality, knowledge and speed, barriers to entry, financial resources, technology. Sustainable competitive advantage the ability to outperform rivals in ways that are difficult and costly to imitate. Strategy comprehensive plan guiding resource allocation to achieve long term organization goals. Best guess about what must be done for future success in the face of rivalry and changing conditions. Strategic intent focuses and applies organizational energies on a unifying and compelling goal. Sets long term direction and guide resource allocation for the total enterprise. Identifies how a single division or strategic business unit will compete in its products or service domain. Strategic business unit often used to describe a single business firm within a. Guides activities within one specific area of operations. The process of formulating and implementing strategies to accomplish goals and sustain competitive advantage.