GMS 200 Lecture Notes - Lecture 7: Strategic Management, Strategic Business Unit, Swot Analysis

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Competitive advantage is the ability to do something so well that it outperforms competitors. Cost and quality- where strategy drives an emphasis on operating efficiency and product/service quality. Knowledge and speed- where strategy drives an emphasis on innovation and speed of delivery to market for new ideas. Barriers to entry- where strategy drives an emphasis on creating a market stronghold that is protected from entry by others. Financial resources- where strategy drives an emphasis on investments or loss absorption that competitors can"t match. Technology- where strategy drives an emphasis on using technology to gain operating efficiency, market exposure or customer loyalty. Sustainable competitive advantage is the ability to outperform rivals in ways that are difficult or costly to imitate. A strategy is the comprehensive plan guiding resource allocation to achieve long-term organizational goals. Strategic intent focuses and applies organizational energies on a unifying and compelling goal. Corporate strategy sets long term direction for the total enterprise.