GMS 200 Lecture 3: Week 3

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Robert Hudyma

Document Summary

Competitive advantage allows an organization to deal with market and environmental forces better than its competitors. Can earn competitive advantage through its product, pricing, customer service, cost efficiency, and quality of the product. Consists of all conditions in the external environment that form a background context for decision making. the populations demographic is a key feature. Example: kraft: legal-political environment prevailing philosophy and objectives of the political party or parties running the government. entered in india in 1993, called dabhol project, cost 2. 8 billion: technological environment development and availability of technology. Example: blackberry, blackberry playbook: natural environment nature and conditions of the natural environment. Specific environment consists of the actual organizations, groups, and the people with whom that the organization interacts and conducts business with. These are environmental factors of direct consequence to the organization as it operates on a day-to-day operation. The specific environment sis often described in terns of stakeholders.