GMS 200 Chapter Notes - Chapter 7: Infomediary, Core Competency, Strategic Business Unit

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

Document Summary

Competitive advantage: operating with an attribute or set of attributes that allows an organization to outperform its competitors: typical sources of competitive advantage: Cost & quality knowledge & speed barriers to entry financial resources technology. Sustainable competitive advantage: the ability to outperform rivals in ways that are difficult or costly to imitate. Strategy: a comprehensive action plan that identifies long term direction for an organization and guides resource utilization to accomplish organizational goals with sustainable competitive advantage. Strategic intent: focusing and applies organizational energies on unifying and compelling goal. Goal of strategic management: to create above-average returns for investors, returns exceeding those for alternative opportunity at equivalent risk, earning above average depends on competitive environment of organization. Levels of strategy: corporate strategy, sets long-term direction for the total enterprise, question: in what industries and markets should we compete, examples: Strategic management: the process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage.