ADM 1300 Lecture Notes - Lecture 5: Vertical Integration, Outsourcing, Cost Leadership

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: David Delcorde

Document Summary

Competitive advantage operating with an attribute or set of attributes that allows an organization to outperform its rivals. Sustainable competitive advantage one that is difficult for competitors to imitate. Typical source of competitive advantage (how to outperform your competition): cost and quality, knowledge and speed, barriers to entry. Getting into a market that is difficult to enter: financial resources, technology. Strategy a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish organizational goals with sustainable competitive advantage. Strategic intent focusing all organizational energies on a unifying and compelling goal. Corporate strategy: sets long-term direction for the total enterprise. Business strategy: identifies how a division or strategic business unit will compete in products or services. Functional strategy: guides activities within one specific area of operations. Strategic analysis process of analyzing the organization, the environment, its competitive position and current strategies. Strategy formulation the process of crafting strategies to guide allocation of resources.