COMM 103 Lecture Notes - Lecture 6: Competitive Advantage

• School: Queen's University
• Department: Commerce
• Course: COMM 103
• Professor: Gregory Libitz

Document Summary

Reflects understanding the demand/supply relationships: capacity and capability of each competitor in market to deliver products/ services, needs to be understood to be profitable, employee interaction, leveraging skills of employees adds value, makes profit, organizational efficiency and structure, reflection of infrastructure created by organization, transaction processes to serve the markets. Comm 103 business: assets (land, buildings, technology, labour (human resources, capital, managerial acumen (visionary leadership, managers establish direction for organization base on needs, translated to strategic plan, 3c assessment means analyzing resources, and the capabilities and competencies it possesses identifying the needs of a particular market or markets, and the development of a solution to such needs through the acquisition and transformation of resources into goods and services that can be delivered to the marketplace at a profit. Capital the money needed by an organization to support asset based expenditures, meet operating cash requirements, and invest in the development of new products/ services which organization desires to introduce into marketplace.