MATH 1P98 Lecture Notes - Lecture 7: Incrementalism, Systems Analysis, Strategic Business Unit

• School: Brock University
• Department: Mathematics and Statistics
• Course: MATH 1P98
• Professor: Chantal Buteau

Document Summary

Chapter 7: strategic management (use in globus report) Lesson overview: what is strategic management, what are the essentials of strategic management, various corporate strategies and how they"re formed, identify and describe current issues as they pertain to strategy formation. Outlining the mission of the organization, why do they exist, what do they want to achieve. How we implement the goals, looking at a range of options thatt a rm can undertake. It identi es long-term direction for an organization and it utilizes its resources to accomplish organizational goals with sustainable competitive advantage. Low cost leadership strategy - selling something cheaper than your rivals. Differentiation strategy - set your company apart from rivals, based upon proce, quality, and maybe develop more than one model of your product. Pursue more value for money, pursue a good quality camera and decide to sell it lower than competitiors. Clear market favourite - when it comes to selling entry level cameras,