GMS 200 Lecture Notes - Strategic Business Unit, Swot Analysis, Competitive Advantage

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Rodney Umrah

Document Summary

Competitiveness is the ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or services. Strategies exploit opportunities and strengths, neutralize threats, and avoid weaknesses. Functional areas have strategies: strategy development can lead companies to achieve a competitive advantage, competitive advantage is the ability to do something so well that you outperform the competitors. A firm achieves competitive advantage when an attractive number of buyers are drawn to purchase its products or services rather than those of competitors. Cost & qaulity: operating efficiency can lead to lower cost, ensure consistent quality and high performance. Knowledge & speed: innovation, speed of delivery. Financial resources: market stronghold that"s protected from entry by others ( telecommunications, investments that competitors cannot match. Functional strategy: company wide action plan to compete across markets and industries, strategy for a single strategic business unit (sbu, activities within one specific functional area.