GMS 200 Lecture Notes - Competitive Advantage, Strategic Management, Peter Drucker

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

Document Summary

Competitive advantage comes from operating in successful ways that are different to imitate. Sustainable competitive advantage is one that is difficult for competitors to imitate. Strategy is a comprehensive pan guiding resource allocation to achieve long-term organization goals with sustain competitive advantage. Focuses on competitive environment and represents a best guess what must be done to ensure future success in the face of rivalry, even as conditions change. Strategic intent focuses and applies organizational energies on a unifying and compelling goal. Example: coca cola, strategic intent is to put a coke within the arms of every consumer in the world . Strategic management is the process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage. The essence of strategic management is looking ahead , understanding the environment and the organizations, effectively positioning the organization for competitive advantage in changing times and then achieving them.