ADMS 1000 Lecture Notes - Lecture 5: Dry Cleaning, Liquor Control Board Of Ontario, Swot Analysis

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Indira Somwaru

Document Summary

An action plan for short term or longer term (5 years). Like, we want to increase market share by 5% until 2015. To develop strategy: analyze external environment (industry-> opportunities/ threats) and internal environment (strengths/weaknesses) Economies of scale: a bigger company needs more capital so like nike or airplane companies have the advantage. If youre in the dry cleaning, its fairly easy for someone to come in. Switching costs: the more control you have over customers, like rogers that lock you into. Can also apply psychologically, like starbucks, apple, lululemon. Access to distribution channels: access to suppliers. Cost disadvantages independent of scale: patent and government laws that block other companies from taking your spot . Switching costs: like home depot and lows. Importance of incumbents" products to buyers: the better they can get you addicted to their product. The number of incumbents relative to the number of buyers: monopoly, like lcbo.