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Lecture 3

Week 3

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Ryerson University
Global Management Studies
GMS 200
Robert Hudyma

Chapter 4 What is competitive advantage? 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 The General Environment - Consists of all conditions in the external environment that form a background context for decision making Typical External Environment issues:**** What constitutes the external environment of organization? 1) Economic envirionment health of the economy in terms of inflations, income levels, unemployment, job outlook 2) Social-cultural environrment norms, customs and social values such as human rights and trends in education The populations demographic is a key feature Example: Kraft, 3) Legal-political environment prevailing philosophy and objectives of the political party or parties running the government Example: Enron Entered in India in 1993, called Dabhol project, cost 2.8 billion 4) Technological environment development and availability of technology Example: Blackberry, Blackberry Playbook 5) Natural environment nature and conditions of the natural environment Example: Carbon market Specific 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 Stakeholders are the persons, groups and institutions directly affected by an organization, Examples: customers, suppliers, competitors, regulators, investor and owners - You want to create value for ur stakeholders Nortel is a company who didnt understand their environment - Part of bell telephone 1895 - Known as a company that made your phone - In 1997 John Roth changed strategy- telephone to internet - Massive restructuring- acquisitions worth 19.7 billion - 1999-2000, Nortel equipment carried 75% of North American internet traffic
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