GMS 200 Chapter Notes - Chapter 7: Customer Service, Organizational Culture, Strategic Business Unit

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

Document Summary

A strategy is a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish goals with sustainable competitive advantage. Strategy analysis, first step of the strategic management process, is the process of analyzing the organization, the environment, and the organization"s competitive position and current strategies. A competitive advantage refers to operating with an attribute or set of attributes that allows an organization to outperform its rivals. Typical sources of competitive advantage include: cost and quality, knowledge and speed, barriers to entry, financial resources. A sustainable competitive advantage: difficult for competitors to imitate. All organizational energies are directed toward a unifying and compelling target or goal. Stakeholders: the individuals and groups who are directly affected by the organization and its strategic accomplishments. Strategic constituencies analysis: review the interests of each stakeholder along with the organization"s record in responding their interests. Core values: broad beliefs about what is or is not appropriate.