GMS 401 Lecture Notes - Lecture 2: Strategic Planning, Outsourcing

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Frank Miller

Document Summary

Competitiveness: ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or services. Strategy: the long-term plans that determine the direction an organization takes to become (or remain) competitive. Strategic planning: the managerial process that determines a strategy for the organization. Key purchasing criteria: the major elements influencing a purchase: price, quality, variety and timeliness. Price is the amount a customer must pay for the good or service. Quality refers to characteristics of a good or service determined by its. Variety refers to the choices of models and options available to customers. Timeliness refers to the availability of goods or services when they are design, material, workmanship, performance and consistency. Order qualifiers: purchasing criteria that customers perceive as minimum standards of acceptability to be considered for purchase. Order winners: purchasing criteria that cause the organization to be perceived as better than the competition.