GMS 200 Chapter Notes - Chapter 7: Retail

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Formulation: mission and values: mission is the reason for existence, stakeholders are the individuals and groups who are directly affected by the organization and its strategic accomplishments, strategic constituencies (stakeholder) analysis reviews the interests of each stakeholder along with the organization"s record in responding to their interests, core values are the broad beliefs about what is or is not appropriate. ) of each of these objectives: profitability operating with a net profit, financial health acquiring capital and earning positive returns, market share gaining a specific share of possible customers, cost efficiency using resources well to operate at low cost, customer service meeting customer needs and maintaining loyalty, product quality producing high quality goods or services, human talent recruiting and maintaining a high quality workforce. Values organizational culture: organizational culture reflects the predominant value system of the organization as a whole, helps build organizational identity, gives character to the organization, backs up the mission statement, guides the behavior of organizational members.