GMS 200 Lecture Notes - Lecture 7: Retail, Coopetition, Outsourcing

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

Document Summary

Today"s management environment places a great premium on compeiive advantage and how it is achieved, or not, through strategy and strategic management . Compeiive advantage is the ability to do something so well that one outperforms compeitors. The goal is sustainable compeiive advantage, which is the ability to outperform rivals in ways that are diicult or costly to imitate. A strategy is a comprehensive acion plan that ideniies the long-term direcion for an organizaion and guides resource uilizaion to achieve sustainable compeiive advantage. A strategy helps ensure that resources are used with consistent strategic intent, which focuses and applies organizaional energies on a unifying and compelling goal. Three levels of strategy guide the aciviies of most enterprises. Decepively simple task: ind out what customers want, provide it for them at the best prices and service, and make sure compeitors can"t copy what you are doing well.