RSM100Y1 Lecture : RSM - L12-13 [Jan 12 & 19]
Document Summary
Competitive advantage: differentiating characteristic, provides economic benefit, not easily duplicated. Traditional sources of competitive advantage: product or process technology, protected markets (regulation, financial resources, economies of scale, management of work force. Inputs: environment, socio-cultural, resources, financial, natural, human, technology, history: How the organization will configure its resources against demands, constraints, opportunities presented by the environment within the context of history. www. notesolution. com. Formal organization: all explicit rules e. x. job description, salary scale, organization chart, reporting lines, policy and procedures, annual reports. Informal organization: everything not written down e. x. the grapevine (information communication system) Organization: raising a lot of money as a foundation. Lincoln electric company: leading supplier of welding tools, market share and revenue leader, long term success, lowest costs, while employing , highest paid factory workers in the entire world. Individual and informal organization: task and formal organization, task and informal organization, forman and informal organizations.
