Mastering Strategic Management

Mastering Strategic Management

Mastering Strategic Management

[Author removed at request of original publisher]

UNIVERSITY OF MINNESOTA LIBRARIES PUBLISHING EDITION, 2015. THIS EDITION ADAPTED FROM A WORK ORIGINALLY PRODUCED IN 2010 BY A PUBLISHER WHO HAS REQUESTED THAT IT NOT RECEIVE ATTRIBUTION.

MINNEAPOLIS, MN

Mastering Strategic Management by University of Minnesota is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

This book was produced using Pressbooks.com, and PDF rendering was done by PrinceXML.

Contents

Publisher Information viii

About the Authors ix

Acknowledgments xi

Dedications xii

Preface xiii

Chapter 1: Mastering Strategy: Art and Science

1.1 Mastering Strategy: Art and Science 2 1.2 Defining Strategic Management and Strategy 4 1.3 Intended, Emergent, and Realized Strategies 13 1.4 The History of Strategic Management 18 1.5 Understanding the Strategic Management Process 26 1.6 Conclusion 29

Chapter 2: Leading Strategically

2.1 Leading Strategically 31 2.2 Vision, Mission, and Goals 33 2.3 Assessing Organizational Performance 42 2.4 The CEO as Celebrity 49 2.5 Entrepreneurial Orientation 58 2.6 Conclusion 66

Chapter 3: Evaluating the External Environment

3.1 Evaluating the External Environment 68 3.2 The Relationship between an Organization and Its Environment 70 3.3 Evaluating the General Environment 73 3.4 Evaluating the Industry 88 3.5 Mapping Strategic Groups 102 3.6 Conclusion 105

Chapter 4: Managing Firm Resources

4.1 Managing Firm Resources 107 4.2 Resource-Based Theory 110

4.3 Intellectual Property 121 4.4 Value Chain 129 4.5 Beyond Resource-Based Theory: Other Views on Firm Performance 134 4.6 SWOT Analysis 137 4.7 Conclusion 140

Chapter 5: Selecting Business-Level Strategies

5.1 Selecting Business-Level Strategies 142 5.2 Understanding Business-Level Strategy through “Generic Strategies” 144 5.3 Cost Leadership 148 5.4 Differentiation 152 5.5 Focused Cost Leadership and Focused Differentiation 159 5.6 Best-Cost Strategy 167 5.7 Stuck in the Middle 172 5.8 Conclusion 177

Chapter 6: Supporting the Business-Level Strategy: Competitive and Cooperative Moves

6.1 Supporting the Business-Level Strategy: Competitive and Cooperative Moves 179 6.2 Making Competitive Moves 182 6.3 Responding to Competitors’ Moves 191 6.4 Making Cooperative Moves 197 6.5 Conclusion 202

Chapter 7: Competing in International Markets

7.1 Competing in International Markets 204 7.2 Advantages and Disadvantages of Competing in International Markets 207 7.3 Drivers of Success and Failure When Competing in International Markets 220 7.4 Types of International Strategies 228 7.5 Options for Competing in International Markets 232 7.6 Conclusion 240

Chapter 8: Selecting Corporate-Level Strategies

8.1 Selecting Corporate-Level Strategies 242 8.2 Concentration Strategies 245 8.3 Vertical Integration Strategies 253 8.4 Diversification Strategies 258 8.5 Strategies for Getting Smaller 266 8.6 Portfolio Planning and Corporate-Level Strategy 270

8.7 Conclusion 273

Chapter 9: Executing Strategy through Organizational Design

9.1 Executing Strategy through Organizational Design 275 9.2 The Basic Building Blocks of Organizational Structure 279 9.3 Creating an Organizational Structure 284 9.4 Creating Organizational Control Systems 298 9.5 Legal Forms of Business 309 9.6 Conclusion 312

Chapter 10: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

10.1 Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

314

10.2 Boards of Directors 316 10.3 Corporate Ethics and Social Responsibility 322 10.4 Understanding Thought Patterns: A Key to Corporate Leadership? 330 10.5 Conclusion 338

Please share your supplementary material! 339

Publisher Information

Mastering Strategic Management is adapted from a work produced and distributed under a Creative Commons license (CC BY-NC-SA) in 2011 by a publisher who has requested that they and the original author not receive attribution. This adapted edition is produced by the University of Minnesota Libraries Publishing through the eLearning Support Initiative.

 

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