GMS 200 Lecture Notes - Strategic Alliance, Strategic Business Unit, A&W Root Beer

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ron Babin

Document Summary

Competitive advantage: is the ability to do something so well that one outperforms competitors. Sustainable competitive advantage: is the ability to outperform rivals in ways that are difficult or costly to imitate. Strategic intent: all energies directed toward accomplishing a long-term target or goal. Corporate-level strategy: sets long term direction for the total enterprise. Business-level strategy: identifies how a division or strategic business unit will compete in its product or service domain. Functional strategy: guides activities within specific area of operations. Strategic management: is the process of formulating and implementing strategies. Strategic analysis: is the process of analyzing the organization, the environment, and the organization"s competitive position and current strategies. Strategy formulation: is the process of crafting strategies to guide the allocation of resources. Strategy implementation: is the process of putting strategies into action. Mission and stakeholders: a mission should represent what the strategy or underlying business model is trying to accomplish.