GMS 200 Lecture Notes - Retail, Poutine, Cash Flow

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Tsogbadral Galaabaatar

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. Strategy: is a comprehensive plan guiding resource allocating to achieve long-term goals. Strategic intent: focuses and applies organizational energies on a unifying and compelling goal. There are three levels of strategy in organizations corporate, business and functional strategies: corporate strategy: sets long-term direction for the total enterprise. Ask questions like in what industries and markets should we compete? : business strategy: identifies how a division or strategic business unit will complete in its product or service domain. Asks questions like how are we going to compete for customers in this industry or market? : functional strategy: guides activities within one specific area of operations. Focuses on activities within a specific functional area such as marketing, human resources, finance etc.