GMS 200 Lecture 9: Week 9 Chapter 7

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Douglas Bower

Document Summary

Operating with an attribute or set of attributes that allows an organization to outperform its rivals. Technology: toyota was the first that mass produces the hybrid car on the market (prius in 2003) Low price due to its low costs. Walmart determines the price of the product not the manufacturer. Open 24 hours , offering food, dry goods and services all in one location. One that is difficult for competitors to imitate. Look internally to see what you"re good at. Scan the environment to see what"s going around your brand. New entrants may need to make large investments in capital equipment, or existing firms may have earned strong customer loyalties that may be difficult for new entrants to overcome. Strategy - a comprehensive plan that identifies long-term direction to achieve an organization"s goals. The continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives.