GMS 200 Lecture Notes - Lecture 6: Human Resources, Coopetition, Organizational Culture

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Franklin Ramsoomair

Document Summary

Strategy: a comprehensive plan guiding resource allocation to achieve long-term organization goals involves planning. Step 1: situational analysis in situational analysis, a manager identifies planning assumptions, issues and problems. Creating a sequence of steps to achieve them. The steps or tactics needed to achieve the goals defined in a strategic plan. Ie. if a company"s strategic plan is to become a market leader, its tactical plan might be spend more on advertising and marketing. The process of planning strategic goals and objectives to tactical goals and objectives. Actions and time required to achieve goals. Goals: the targets or ends the manager wants to reach. Contingency plan: a backup plan, in case the original plan does not work out. Benchmarking: when a company compares its quality and service levels to other companies in order to continually improve their own performance. In looking at strategy, we have to think about core values.