MAN 3025 Lecture Notes - Lecture 6: Competitive Advantage, Jiffy Lube, Strategic Management
6 Dec 2015
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Document Summary
Strategic management: large-scale action plan that sets the direction for an, process involves managers from all parts of the organization in the formulation and the implementation of strategies and strategic goals. Key step in planning: firm"s strategic plan provides overall blueprint for where organization is going and how it"s going to get there. Why strategy matters: provides direction and momentum. Focus on critical problems, choices and opportunities. How to deliver value to targeted customers. Build synergy in operations while preparing for the. Blueprint for renewal, reinvention and growth through focus on innovation. Generate and sustain value via linkage between: position, resources and organization. Positionorganizationresources and capabilities: strategy is creation of a unique and valuable position, strategic position. Attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. Performing different activities from rivals, or performing similar activities in different ways. Recording artist, how technology made them innovate new plans.
