GMS 200 Chapter 7: Chapter 7 - Strategy And Strategic Management.docx

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Shavin Malhotra

Document Summary

Strategy and strategic management: strategic management trying to gain a competitive advantage, competitive advantage is the ability to do something so well that one outperforms competitors. For example, coca colas strategic intent is to put coke within arms reach of every consumer in the world . Levels of strategy: the level of corporate strategy (highest level) directs the organization as a whole towards sustainable competitive advantage. It sets long term direction for the total enterprise: business strategy identifies how a division or strategic business unit will compete in its product or service domain. In single-product enterprises, business strategy is the corporate strategy. Strategic management process: strategic management is the process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage. For example, starbucks" mission is to be the premier purveyor of the finest coffee in the world, while maintaining our uncompromising principles as we grow : the mission also helps managers support and respect the organizations stakeholders.