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GMS 200 (566)
Chapter 9

Chapter 9 - Strategic Management

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Ryerson University
Global Management Studies
GMS 200
Shavin Malhotra

rdWednesday November 3 2010 Chapter 9 Strategic Management Strategic Competitiveness competitive advantage comes from operating in successful ways that are difficult to imitateExample WalMart IT allows the retailer to quickly track sales and monitor inventories sustainable competitive advantage is difficult for competitors to imitateWhat is Strategy strategy plan guiding resources allocation to achieve long term organization goals strategy provides the plan for allocating and using resources with consistent strategic intent focus and applies organizations energies on a unifying and compelling goalStrategic Management strategies dont just happen they must be created and strategies alone dont automatically bring success strategic management process of formulating and implementing strategiesEssence of strategic management is looking ahead understanding the environment and the organizations effectively positioning the organization for competitive advantage in changing times and then achieving themStrategic Management Goals goals for any business should be superior profitabilityCreates value for above average returns e
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