Textbook Notes (363,140)
Canada (158,217)
GMS 401 (200)
Chapter 2

Chapter 2.docx

4 Pages
Unlock Document

Ryerson University
Global Management Studies
GMS 401
Kirk Bailey

Ch2Competitiveness Strategic PlanningProductivity GMS401Competitiveness ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or services Strategy the longterm plans that determine the direction an organization takes to become or remain competitive Strategic Planning the managerial process that determines the strategy for the organization productivity is a measure of how efficiently the resources are being used CompetitivenessCompanies must be competitive to sell their goodsservices in the marketplace Competitiveness depends on the capabilities and performance of the company in its marketplace using teamwork and rewards and organization can develop its capabilities Key purchasing criteria the major elements influencing a purchase price quality variety and timelinesso Price the amount a customer must pay for the goodserviceo Quality characteristics of a goodservice determined by its design material workmanship performance and consistencyo Variety choices of models and options available to the customerso Timeliness availability of goodsservices when they are needed by the customero Other factors include customer service and convenient location Most customers choose the best buy or best valueo Valuequality timeliness etcpriceIn complex purchases customers may use two categories of purchasing criteriao Order qualifiers purchasing criteria that customers perceive as minimum standards of acceptability to be considered for purchaseo Order winners purchasing criteria that cause the organization to be perceived as better than the competition Organizations compete by emphasizing one or more of the key purchasing criteria These are called competitive priorities the importance given to operations characteristics cost quality flexibility and deliveryo Cost the unit production of a good or performance of a service to the organizationo Quality determining customers quality requirements translating them into specifications for goodsservices and producing goodsperforming services to these specificationso Flexibility being able to produce a variety of goodsservices in the same facilityo Delivery being able to consistently meet promised due dates by producing goods or performing services on time or quickly As the organization becomes more competitive it tends to reach a point where improving one priority can be achieved only by reducing the emphasis on another priorityStrategic PlanningThe process of determining a strategy longterm plans that will set a new direction for an organization and implementing it through allocation of resources and action plans It starts with top management soliciting the performance of current strategy and commissioning a market research study of where the industry is headed in the next 15 years
More Less

Related notes for GMS 401

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.