GMS 200 Chapter Notes - Chapter 7: Competitive Advantage, Outsourcing, Infomediary

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ricardo Reyes

Document Summary

Competitive advantage operating with an attribute or set of attributes that allows an organization to outperform its rivals. Typical sources of competitive advantage include: cost and quality, knowledge and speed, barriers to entry, financial resources. 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 unifying and compelling goal. Goals 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. 1: strategy implementation putting strategies into action. Analysis of objectives: operating objectives direct activities toward key and specific performance results, typical objectives, profitability, market share, human talent. 2: financial health, cost efficiency, product quality, innovation, social responsibility.