ADMS 1000 Study Guide - Differentiator, Switching Barriers, Horizontal Integration

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Peter Tsasis

Document Summary

Chapter 9 responding to the environment: developing business strategy. A comprehensive and integrated plan that states how the organization will use its resources in the pursuit of its mission and objectives. A process that involves defining the mission of the business and laying out the broad strategies or courses of action the firm will use to achieve that mission. Can be new firms or diversifying entrants. Economies of scale: capital requirements, cost disadvantages unrelated to scale. Undifferentiated products and low switching costs encourage more intense rivalry. Many similar producers tend to compete more fiercely. Identifies how to build and strengthen the business"s long-term competitive position in the marketplace. Identify the basic courses of action that each department will pursue to contribute to the attainment of its goals. A mental image of a possible and desirable future of the organization. It articulates a view of a realistic, credible and attainable future. A statement that broadly outlines the organization"s purpose.