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Canada (509,211)
Mathematics (2,835)
MAT136H1 (782)
Anthony Lam (257)
Lecture

Chapter 6.docx

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Department
Mathematics
Course
MAT136H1
Professor
Anthony Lam
Semester
Winter

Description
Chapter 6StrategyManagement is the process of planning organizing controlling and leading an enterprises financial physical human and information resources to achieve the organizations goals of supplying various products and servicesEfficiency is achieving the greatest level of output with a given amount of inputEffectiveness achieving the organizational goals that have been set Planning the process of determining a firms goals and developing a strategy to achieve it Prediction market creating a market where people can buy shares in various answers to important questions that need to be answered Competitive Adv Derived From Differentiating characteristics Not easily duplicated EconomicbenefitsSource of Competitive Advantage Product or process technology Protected markets Economies of scale Financial resourcesManagement of work forcePorters Five competitive advantage points Rivalry amongst competitors Substitute productsPotential new entrantsBargaining power of suppliers Bargaining power of buyers Rivalry will be high when High fixed costs Demand has steadied Lots of firms
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