GMS 200 Lecture Notes - Lecture 7: Vertical Integration, Coopetition, Retail

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Bamidele Adekunle

Document Summary

Competitive advantage ability to do something so well that one outperforms competitors. Sustainable competitive advantage ability to outperform rivals in ways that are difficult or costly to imitate. Strategy comprehensive plan guiding resource allocation to achieve long-term organization goals. Strategic intent focuses and applies organizational energies on a unifying and compelling goal. Strategic management process of formulating and implementing strategies. Strategic analysis process of analyzing organization, environment and the organization"s competitive position and current strategies. Strategy formulation process of crafting strategies to guide the allocation of resources. Strategy implementation process of putting strategies into action. Growth strategy involves expansion of the organizations current operations. Stability strategy maintains current operations without substantial changes. Renewal strategy tries to solve problems and overcome weaknesses that are hurting performance: liquidation business operations cease and assets are sold to pay creditors. Combination strategy pursues growth, stability, and/or retrenchment in some combination. Restructuring changes the mix or reduces the scale of operations.