ADMS 1010 Lecture Notes - Lecture 5: Conagra Brands, Meat Packing Industry, Harvard Business Review

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Yong Troy

Document Summary

A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-term business planning. Typically a business will cover a period of about 3-5 years (sometimes even longer). In order for a company to meet its desired objectives and be successful, there are five particular assumptions that have been mentioned in the article competing on. ), (the test of substitutability: can a unique resource be trumped by a different resource?) and (the test of competitive superiority: whose resource is really better?). These aforementioned assumptions are in fact reality assumptions. In the article, there are many related cases mentioned to support these theories. For example, ibp, the first meatpacking company in the united states had its returns go from 1. 3% to 0. 4% in a decade, simply because its resources were replicated by conagra and cargill.