GMS 200 Lecture Notes - Lecture 7: Strategic Planning, Strategic Management, Habitat

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

Document Summary

Competitive advantage - sustainable competitive advantage -strategy -strategic intent. Few players not directly competing against each other. Involves assessing existing strategies, organization, and environment to develop strategies and strategic plans capable of delivering future competitive new advantage. Identify and analyze current(missions, objectives, strategies) ---> analyze internal and external environments ---> revise mission and objectives, select new strategies ----> implement strategies---> evaluate results (then start again) The process of allocating resources and putting strategies into action. All organizational and management systems must be mobilized to support and reinforce the accomplishment of strategies. Crate strategic plans to accomplish purpose and objectives. Evaluate results; change strategic plans and/or implementation processes as necessary. An important test of the mission is how well it serves the organizations philosophy stakeholders. Analysis of values -organizational culture -analysis of objectives. Technology -government -social structures -global economy -natural environment. Porter"s model of 5 strategic forces affecting industry.