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GMS 200 (566)
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Chapter 4

Chapter 4 Environment and competitive Advantage.docx

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Global Management Studies
GMS 200
Jian Guan

Chapter 4 Environment and competitive Advantage Knowledge is taking over Competitive advantage Dealing with market forces better than others Only achieved through scanning the environmentGeneral Environment Cultural economic legal technological conditions Specific Environment Includes the people that the business interacts with Businesses create value for customers through product price and quality for owners by realized profits and losses Environmental Uncertainty lack of info regarding what exists and what may occur 2 dimensions of uncertainty Complexity rate of change Customer service is often the missing link in competitive advantage Customers drive competitive advantage Customer wants High demand reasonable price ontime delivery good service Customer Relationship management builds lasting relationships and adds value for customers Supply chain management links oper
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