GMS 200 Lecture Notes - Lecture 8: Incrementalism, Retail, Cash Flow

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

Document Summary

The ability to do something so well that one outperforms its competitors. Cost and quality where strategy drives an emphasis on operating efficiency and product or service quality. Knowledge and speed where strategy drives an emphasis on innovation and speed of delivery to markets 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 efficiencies, market exposure, or customer loyalty. A sustainable competitive advantage is the ability to outperform rivals in ways that are difficult or costly to imitate. A strategy is a comprehensive plan that identifies long-term direction for an organization and guides resource utilization to accomplish goals with sustainable competitive advantage.