GMS 200 Lecture Notes - Lecture 8: Bargaining Power, Swot Analysis, Emerging Technologies

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Omid Jadidi

Document Summary

Completive advantage: your ability to satisfy customers wants and needs compared to your competitor: toyota: price, quality, flexibility, safety, technology, walmart: price, variety, location. Sustainable competitive advantage: an advantage you can keep over a lo(cid:374)g period of ti(cid:373)e, others (cid:272)a(cid:374)"t easily (cid:272)opy. How: look internally and see what you are doing good at, scan the en(cid:448)iro(cid:374)(cid:373)e(cid:374)t a(cid:374)d see (cid:449)hat"s goi(cid:374)g o(cid:374) arou(cid:374)d your (cid:271)ra(cid:374)d. Knowledge and speed (ability for designing, producing and introducing to the market) How you are using resources for reaching competitive advantage or to achieve goals. Continuous planning, monitoring, analysis, and assessment of all that is necessary for an organization to meet its goals and objectives. Easier to anticipate future problems and opportunities. Business strategy: identifies how a division or strategic business unit will compete in products or services. Functional strategy: guides activities within one specific area of operations. Where the organization is going now, its products and markets.