ADMS 4900 Study Guide - Final Guide: Videotelephony, Holding Company, Mass Customization

• School: York University
• Department: Administrative Studies
• Course: ADMS 4900
• Professor: You- Ta Chuang

Document Summary

All managers in an org contribute to this. Managers must be able to recognize what to strategically analyze the situation. Ch 1 strategic management: creating competitive advantages. Strategic management- decisions that orgs undertake to create competitive advantages that lead them to organizational success. External control- focuses on outside factors; the market, instead of assuming that the leader is the most important contributor to determining org"l performance. Leaders in strategic management must be proactive, anticipate change, be flexible. They must first decide on strategies that provide advantages. It consists of the analyses, decisions, and actions an org undertakes to create competitive advs. Focuses on superior quality, specific customer needs, features, lower-priced products. Analysis of strategic goals, along with the analysis of internal and external envs of the org. Strategic decisions made by leaders; which industries to compete in, how to compete. Actions to implement the strategies; allocating necessary resources.