ADMS 1000 Lecture Notes - Lecture 4: Vertical Integration, Joint Venture, Bargaining Power

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Peter Tsasis

Document Summary

Describe generic strategies and business level strategies. Strategy- a comprehensive and integrated plan that states how the organization will use its recourses in the pursuit of its mission and objectives. Strategic planning- a process that involves defining the mission of the business and laying out the broad strategies or courses of action the firm will use to achieve that mission. America online- consumer connectivity first- anytime, anywhere. General electric- be number one or number two in every industry in which we compete, or get out. Corporate level strategy- identifies the portfolio of businesses that compose the corporation and the ways in which these businesses fit together. Competitive strategy- ide(cid:374)tifies how to (cid:271)uild a(cid:374)d stre(cid:374)gthe(cid:374) the (cid:271)usi(cid:374)ess"s lo(cid:374)g-term competitive position in the marketplace. Functional strategies- identify the basic courses of action that each department will pursue to contribute to the attainment of its goals. Vision- a mental image of a possible and desirable future of the organization.