GMS 401 Chapter Notes - Chapter 2: Strategic Planning, Human Resources, Nitration

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Sam Lampropoulos

Document Summary

Competitiveness- ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or services. Strategy- long term plans that determine the direction an organization takes to become (or remain) competitive. Strategic planning- managerial process that determines a strategy for the organization. Teamwork and rewards organizations can develop its capabilities (core competencies) Most customer trade odd price against the other purchasing criteria and chose the best buy" or best value": value= quality, timeliness, etc. Strategic planning performing services on time or quickly. Process of determining a strategy, long term plans that will set a new direction for an organization, and implementing it through allocation of resources and action plans. Mission- where the organization is going now. Vision- where the organization desires to be in the future. Values- shared beliefs of the organizations stakeholders. Helps build consensus within the organization as well. Mission/ vision general direction for an organization and should lean to organizational.