GMS 200 Lecture Notes - Lecture 9: Strategic Management, Vertical Integration, Cash Cow

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

Document Summary

Lecture 9 chapter 7: strategy and strategic management. Basic concepts of strategy: competitive advantage, sustainable competitive advantage (sca) Strategy: a comprehensive action plan, accomplish organizational goals with sca, goal: create above average returns. Look at figure 7. 2: strategy formulation and implementation in the strategic management process. Every successful strategy requires: the entire organization and all of its resources to be mobilized in support of the strategies, supporting structures. Well-designed tasks and workflows, and the right people: leaders who can energize people and builds performance commitments. Figure 7. 4: swot analysis of strengths, weaknesses, opportunities, and threats: know what your good at and not, know your weaknesses and ho to decrease them, to have a good strategy you need to know yourself, your company. And that is done by using a swot analysis. Figure 7. 5 : porter"s model of five strategic forces affecting industry competition: industry competition. Threat of a substitute product or service: suppliers.