GMS 200 Chapter Notes - Chapter 7: Swot Analysis, Oligopoly, Customer Service

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

Document Summary

Competitive advantage: the ability to do something so well that one outperforms competitors. Cost and quality: operating efficiency & product/service quality. Knowledge and speed: innovation & speed of delivery. Barriers to entry: create a barrier to protect it from entries of others. Financial resources: investments/ loss absorptions that competitors can"t match. Technology: gain operating efficiency, market exposure, customer loyalty. Sustainable competitive advantage: ability to outperform rivals in ways that are difficult/costly to imitate. Strategy: comprehensive plan guiding resources allocation to achieve long-term org. goals. Strategic intent: focuses and applies organizational energies on a unifying & compelling goal. Corporation-level: sets long-term directions for the total enterprise (set direction/guide resources allocations for the entire enterprise) Business-level: identifies how a division/unit will compete in its product/service domain. Strategic business unit: describe a single business firm within a larger enterprise. Functional-level: guides activities within one specific area of operations.