GMS 200 Chapter Notes - Chapter 7: Strategic Management, Competitive Advantage, Customer Service

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Peter Rambert

Document Summary

Competitive advantage is is the ability to do something so well that one outperforms competitors. The retailer makes aggressive use of the latest computer technologies to gain efficiencies in its supply chains, track sales and quickly adjust orders and inventories to match buying trends. Cost and quality where strategy drives an emphasis on operating efficiency and product or service quality. Knowledge and speed where strategy drives an emphasis on innovation and speed of delivery to market for new ideas. Barriers to entry where strategy drives an emphasis on creating a market stronghold that is protected from entry by others. Financial resources where strategy drives an emphasis on investments or loss absorption that competitors can"t match. Technology where strategy drives an emphasis on using technology to gain operating efficiencies, market exposure or customer loyalty. Sustainable competitive advantage is the ability to outperform rivals in ays that are difficult or costly to imitate.