GMS 200 Chapter Notes -Customer Relationship Management, Total Quality Management, Competitive Advantage

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

Document Summary

Allows an organization to deal with the market and environmental forces better than its competitors and gives it an advantage over them in the marketplace. An organization may achieve competitive advantage in many ways, including through its products, pricing, customer service, cost efficiency, and quality, among other aspects of operating excellence. Competitive advantage in the demanding global economy can be achieved only by continuously scanning the environment for opportunities and taking effective action based what is learned. The general environment is composed of cultural, economic, legal-political, and educational conditions. Economic conditions: health of the economy in terms of inflation, income levels, gdp, unemployment. Socio-cultural conditions: norms, customs, social values, human right etc. Legal-political conditions: prevailing philosophy and objectives of the political party. Natural environment conditions: nature and conditions of the natural environment. The specific environment (task environment) consists of the actual organizations, groups, and persons whom an organization interacts and conducts business.