GMS 200 Lecture Notes - Lecture 8: Customer Service, Outsourcing, Swot Analysis

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

Document Summary

A strategy is a comprehensive acion plan that ideniies long-term direcion for an organizaion and guides resource uilizaion to accomplish goals with sustainable compeiive advantage. Strategic management is the process of formulaing and implemening strategies to accomplish long-term goals and sustainable compeiive advantage. Strategy formulaion: create strategy, assess exising strategies, organizaion, and environment, develop new strategies, deliver future compeiive advantage. Strategy implementaion is the process of allocaing resources and puing strategies into acion. Compeiive advantage refers to operaing with an atribute or set of atributes that allows an organizaion to outperform its rivals. A sustainable compeiive advantage diicult for compeitors to imitate. Stakeholders the individuals and groups who are directly afected by the organizaion and its strategic accomplishments. Strategic consituencies (stakeholder) analysis review the interest of each stakeholder along with the organizaion"s record in responding to their interests. Core values broad beliefs about what is or is not appropriate. Financial health acquiring capital and earning posiive returns.