GMS 200 Chapter Notes - Chapter 7: Retail, Cost Leadership, Vertical Integration

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Masoomeh Moharrer

Document Summary

Competitive advantage operating with an attribute or set of attributes that allows an organization to outperform its rivals. Sustainable competitive advantage one that is difficult for competitors to imitate. Strategy a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish organizational goals with sustainable competitive advantage. Strategic intent focusing all organizational energies on a unifying and compelling goal. Goal of strategic management is to create above-average returns for investors. Returns exceeding those for alternative opportunities at equivalent risk. Earning above-average returns depends in part on the organization"s competitive environment. Strategic management the process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage. Strategic analysis process of analyzing the organization, the environment, its competitive position and current strategies. Strategy formulation the process of crafting strategies to guide allocation of resources. Figure 7. 2 strategy formulation and implementation in the strategic management process. What are the essentials of strategic analysis?4/11/2013 5:42:00 pm.