GMS 200 Lecture Notes - Lecture 10: Coopetition, Vertical Integration, Swot Analysis

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ado Abdoulkadre

Document Summary

Basic concepts of strategy: competitive advantage an attribute or a set of attributes that allows an organization to outperform its competitors. Financials: strategy long term action plan that guides resource utilization to accomplish organizational goals with sustainable ca, strategic intent focusing all organizational energies on a unifying and compelling goal. Strategic management aims to create above-average returns for investors. Strategic management process: strategic management the process of making and implementing strategies to accomplish long-term goals and sustain competitive advantage, strategic analysis process of analyzing the organization, environment, its competitive position and current strategies. Creating strategies (revise objectives and select new strategies. Putting strategies into action (implement strategies and evaluate results) A(cid:374)s(cid:449)e(cid:396)s the (cid:395)uestio(cid:374): (cid:862)i(cid:374) (cid:449)hat i(cid:374)dust(cid:396)ies a(cid:374)d (cid:373)a(cid:396)kets should (cid:449)e (cid:272)o(cid:373)pete(cid:863: business strategy. Identifies how a business unit competes in products or services. A(cid:374)s(cid:449)e(cid:396)s the (cid:395)uestio(cid:374): (cid:862)ho(cid:449) a(cid:396)e (cid:449)e goi(cid:374)g to (cid:272)o(cid:373)pete fo(cid:396) (cid:272)usto(cid:373)e(cid:396)s i(cid:374) this (cid:373)a(cid:396)ket(cid:863: functional strategy. Guides activities within one specific area of operations.