ADM 1300 Lecture 6: Nov.1.2018

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: Matthew Archibald

Document Summary

Understand planning tools used to offset uncertainty. Use various goal setting theories to ensure the plan is accomplished. Owns majority stake in dairy queen, fruit of the loom. Strong ownership in american express, kraft, usg corporation (homebuilding) Competitive advantage means you are the best in the field and to maintain it you need to do it better than everyone else. Durable competitive advantage/sustainable competitive advantage: be the best over a sustained period of time. Snapchat doesn"t have a sustainable competitive advantage because instagram can do what they do and they have more resources (joined with facebook) Strategy process stages: organizational vision, mission, and goals and objectives. Vision: dreams for the future (microsoft wanted everyone to have at a computer in their homes by 2003) Mission: defines organizations purpose, identifies an organization"s products and customers. Depending on where you sit your goals could be different. Goals should meet the mission, the mission should help achieve the mission: organization and, industry analysis.