GMS 200 Lecture Notes - Lecture 7: Corn Flakes, Swot Analysis, Customer Service

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

Document Summary

: a strategy is a comprehensive acion plan that ideniies long-term direcion for an organizaion and guides resource uilizaion to accomplish goals with sustainable compeiive advantage. Strategic management is the process of formulaing and implemening strategies to accomplish long- term goals and sustain compeiive advantage. Strategy formulaion is the process of creaing strategy. It involves assessing exising strategies, organizaion, and environment to develop new strategies capable of delivering future compeiive advantage. Strategy implementaion is the process of allocaing resources and puing strategies into acion. Strategic analysis, irst step of the strategic management process, is the process of analyzing the organizaion, the environment, and the organizaion"s compeiive advantage posiion and current strategies. Compeiive advantage refers to operaing with an atribute or set of atributes that allow an organizaion to outperform its rivals. A sustainable compeiive advantage - diicult for compeitors to imitate. > strategic intent: strategic intent focuses and applies organizaional energies on a unifying and compelling goal.