GMS 200 Lecture Notes - Lecture 8: Swot Analysis, Strategic Management, Vertical Integration

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

Document Summary

Competitiveness the ability and performance of an organization in the marketplace compared to other organizations that ofer similar goods or services. Strategies exploit opportunities and strengths, neutralize threats, and avoid weaknesses. Without strategy the organization is like a ship without a rudder joel ross and michael kami (authors and. If your irm"s strategy can be applied to any other irm, you don"t have a very good one . Strategy development can lead companies to achieve a competitive advantage. Competitive advantage is the ability to do something so well that you outperform the competitors. A irm achieves competitive advantage when an attractive number of buyers are drawn to purchases its products and services rather than that of its competitors. Barriers to entry: market stronghold that"s protected from entry by others. Corporate strategy what businesses are we in? o. Company-wide action plan to compete across markets and industries. Business strategy how do we compete in our major businesses o.