GMS 200 Lecture Notes - Lecture 10: Strategic Business Unit, Strategic Management, Competitive Advantage

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

Document Summary

Competitive advantage operating with an attribute or set of attributes that allows an organization to outperform its rivals. Sustainable competitive advantage one that is difficult for competitors to imitate. Typical sources of competitive advantages: cost and quality, knowledge and speed, barriers to entry, financial resources, technology. Strategy a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish organizational goals with sustainable competitive advantages. Strategic intent focusing all organizational energies on unifying and compelling goal. Strategic management aims to create above average returns for investors. Strategic management the process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage. Strategic analysis process of analyzing the organization, the environment, its competitive position and current strategies. Corporate strategy: sets long-term direction for the total enterprise, answers this question: in what industries and markets should we compete.