GMS 200 Chapter Notes - Chapter 07: Niche Market, Retail, Incrementalism

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

The forces and challenges evident in the opening examples confront managers in all organizations. Today"s management environment places a great premium on competitive advantage and how it is achieved through strategy and strategic management. Retailer make aggressive use of the latest computer technologies to gain ef ciencies in its supply chains, track sales, and quickly adjust orders and inventories to match buying trends. Competitive advantage the ability to do something so well that one outperforms competitors. (1) cost and quality where strategy drives an emphasis on operating ef ciency and product/service quality. (2) knowledge and speed where strategy drives an emphasis on innovation and speed of delivery to market for new ideas. (3) barriers to entry where strategy drives an emphasis on creating a market stronghold that is protected from entry by others. (4) financial resources where strategy drives an emphasis on investments or loss absorption that competitors can"t match.