Understanding Strategic Management

Cover
Brief Contents
Contents in Full
List of Cases
Acknowledgements
About the Author
About the Book
How to Use this Book
How to Use the Online Resources
PART ONE WHAT ISSTRATEGY?
	CHAPTER 1 WHAT IS STRATEGY?
		Introduction
		1.1 What is Strategy?
			1.1.1 Defining Strategy
		1.2 Strategic Management
			1.2.1 Strategy Analysis
			1.2.2 Strategy Formulation
			1.2.3 Strategy Implementation
		1.3 Vision, Values, and Mission
			1.3.1 The Theory of the Business
			1.3.2 Business Models
		1.4 Types of Strategy
			1.4.1 Corporate Strategy
			1.4.2 Business Strategy
			1.4.3 Functional/Operational Strategy
		1.5 Changes in the Approach to Strategic Management
		1.6 Different Perspectives on Strategy Formulation
			1.6.1 The Rationalist School
			1.6.2 The Learning School
		1.7 A Strategic Management Framework
PART TWO STRATEGIC ANALYSIS
	CHAPTER 2 EVALUATING THE MACRO-ENVIRONMENT
		Introduction
		2.1 The Macro-environment
		2.2 Scanning, Monitoring, and ForecastingChanges in the Environment
			2.2.1 Scanning the Environment
			2.2.2 Monitoring the Environment
			2.2.3 Forecasting Changes in the Environment
		2.3 Scenario Planning
			2.3.1 How to Build Scenarios
		2.4 PEST Analysis
			2.4.1 Political Factors
			2.4.2 Economic Factors
			2.4.3 Social Factors
			2.4.4 Technological Factors
			2.4.5 Limitations of PEST Analysis
		2.5 An Introduction to SWOT Analysis
		2.6 The Macro-environment and Industry Analysis
	CHAPTER 3 INDUSTRY ANALYSIS
		Introduction
		3.1 The Background to Porter’s Five ForcesFramework
		3.2 Porter’s Five Forces Framework
			3.2.1 The Threat of New Entrants
			3.2.2 The Bargaining Power of Buyers
			3.2.3 The Bargaining Power of Suppliers
			3.2.4 The Threat of Substitute Products and Services
			3.2.5 The Intensity of Rivalry among Competitors in an Industry
			3.2.6 Competing Using the Five Forces Framework
		3.3 Limitations of Porter’s Five Forces
		3.4 The Value Net
			3.4.1 A Complementary Sixth Force
		3.5 The Industry Life Cycle
			3.5.1 Introduction Stage
			3.5.2 Growth Stage
			3.5.3 Maturity Stage
			3.5.4 Decline Stage
		3.6 Strategic Groups
			3.6.1 Strategic Maps
			3.6.2 Mobility Barriers
		3.7 Hypercompetition and Disruptive Innovation
			3.7.1 Hypercompetition
			3.7.2 Disruptive Innovation
	CHAPTER 4 THE INTERNAL ENVIRONMENT: VALUE-CREATING ACTIVITIES
		Introduction
		4.1 Background to Differential Firm Performance
		4.2 Value Chain Analysis
			4.2.1 Primary Activities
			4.2.2 Support Activities
		4.3 Evaluating the Value Chain
			4.3.1 The Importance of Linkages within the Value Chain
			4.3.2 Managing Linkages within the Value Chain System
		4.4 SWOT Analysis
			4.4.1 Integrating the Macro and Competitive Environments
			4.4.2 Limitations of SWOT Analysis
		4.5 Organizational Performance
			4.5.1 What is Performance?
			4.5.2 Maximizing Shareholder Value
			4.5.3 Meeting the Needs of Stakeholders
			4.5.4 Financial Analysis
		4.6 The Balanced Scorecard
		4.7 Benchmarking
	CHAPTER 5 THE INTERNAL ENVIRONMENT: A RESOURCE-BASED VIEW OF STRATEGY
		Introduction
		5.1 The Resource-Based View of Strategy
			5.1.1 Resources
			5.1.2 Organizational Capabilities
		5.2 The VRIO Framework and SustainableCompetitive Advantage
			5.2.1 Valuable Capabilities
			5.2.2 Rarity
			5.2.3 Imitability
			5.2.4 Organization
			5.2.5 Make-or-Buy Decision
		5.3 Criticisms of the Resource-Based View
		5.4 A Knowledge-Based View of the Firm
		5.5 Dynamic Capabilities
PART THREE STRATEGY FORMULATION
	CHAPTER 6 BUSINESS STRATEGY
		Introduction
		6.1 What is Business Strategy?
		6.2 Generic Competitive Strategies
			6.2.1 Overall Cost-Leadership Strategies
			6.2.2 Differentiation Strategies
			6.2.3 Focus Strategies
			6.2.4 Stuck in the Middle
		6.3 A Resource-Based Approach to Strategy Formulation
			6.3.1 Appraising Capabilities
			6.3.2 Implications for Strategy Formulation
		6.4 Blue Ocean Strategy
			6.4.1 The Strategy Canvas
		6.5 Strategy Formulation in Turbulent Markets
		6.6 Disruptive Innovation and Strategy Formulation
			6.6.1 Responses to Disruptive Innovation
			6.6.2 Limitations of Disruptive Innovation
	CHAPTER 7 CORPORATE STRATEGY
		Introduction
		7.1 Corporate Strategy
		7.2 Growth Strategies
			7.2.1 Market Penetration
			7.2.2 Product Development
			7.2.3 Market Development
			7.2.4 Diversification
		7.3 Related Diversification
			7.3.1 Vertical Integration
			7.3.2 Horizontal Integration
			7.3.3 Transaction-Cost Analysis
		7.4 Unrelated or Conglomerate Diversification
			7.4.1 Can Conglomerate Diversification Succeed?
		7.5 Implementing Growth Strategies
			7.5.1 Mergers and Acquisitions
			7.5.2 Internal Development
			7.5.3 Joint Ventures and Strategic Alliances
		7.6 Portfolio Analysis
			7.6.1 Boston Consulting Group Matrix
			7.6.2 The General Electric–McKinsey Matrix
		7.7 Corporate Parenting
			7.7.1 Parenting Opportunities
			7.7.2 Portfolio Decisions
		7.8 Strategic Evaluation
			7.8.1 Suitability
			7.8.2 Feasibility
			7.8.3 Acceptability
	CHAPTER 8 INTERNATIONAL STRATEGY
		Introduction
		8.1 Globalization or Localization
		8.2 International Strategy
			8.2.1 Organizational Factors
			8.2.2 Environmental Factors
		8.3 A Globalization Framework
			8.3.1 The Strategic Objectives of a Multinational Corporation
			8.3.2 The Sources of Competitive Advantage
		8.4 Types of International Strategy
			8.4.1 Multidomestic Strategy
			8.4.2 Global Strategy
			8.4.3 International Strategy
			8.4.4 Transnational Strategy
		8.5 Entry mode Strategies
			8.5.1 Exporting
			8.5.2 Licensing
			8.5.3 International Franchising
			8.5.4 Joint Ventures and Strategic Alliances
			8.5.5 Wholly Owned Subsidiaries
		8.6 Porter’s Diamond of National Advantage
			8.6.1 The Diamond of National Advantage
			8.6.2 Criticisms of Porter’s Diamond
		8.7 The Myths of Global Strategy
		8.8 The Challenge of Globalization
PART FOUR STRATEGY IMPLEMENTATION
	CHAPTER 9 ORGANIZATIONAL STRUCTURES AND STRATEGIC CHANGE
		Introduction
		9.1 Organizational Structures
			9.1.1 The Entrepreneurial Structure
			9.1.2 The Functional Structure
			9.1.3 The Divisional Structure
			9.1.4 The Matrix Structure
			9.1.5 The Network Structure
		9.2 Organizational Processes
		9.3 Strategic Control Systems
		9.4 Strategic Change
			9.4.1 Integrative Change
			9.4.2 Strategic Drift
			9.4.3 Visionary Organizations
	CHAPTER 10 STRATEGIC LEADERSHIP
		Introduction
		10.1 Leadership and Management
		10.2 The Learning Organization
			10.2.1 Building the Learning Organization
			10.2.2 Leadership Roles
			10.2.3 Leadership Skills
		10.3 Emotional Intelligence and Leadership Performance
		10.4 Narcissistic Leaders and Leadership Capabilities
			10.4.1 Leadership Capabilities
		10.5 The Impact of Leadership on Values and Culture
			10.5.1 Leadership and Values
			10.5.2 Leadership and Culture
		10.6 Leading Strategic Change
			10.6.1 Transformational Leadership
			10.6.2 Theory E and Theory O Leaders
			10.6.3 Leadership and Chaos
	CHAPTER 11 CORPORATE GOVERNANCE
		Introduction
		11.1 What is Corporate Governance?
		11.2 The Origins of Corporate Governance
		11.3 The Growth of Modern Corporations
			11.3.1 Limited Liability
			11.3.2 Transferability
			11.3.3 Legal Personality
			11.3.4 Centralized Management
		11.4 The Purpose of Corporations
			11.4.1 The Purpose of Corporations: Maximize Shareholder Value
			11.4.2 The Agency Problem
			11.4.3 The Purpose of Corporations: Meet the Needs of Stakeholders
		11.5 Corporate Governance Codes
			11.5.1 The Cadbury Committee
			11.5.2 The Hampel Committee
			11.5.3 Other Corporate Governance Codes
			11.5.4 The Role of Non-Executive Directors
			11.5.5 The Sarbanes–Oxley Act
		11.6 Excessive Executive Pay
		11.7 Is Reform to Corporate Governance the Answer?
			11.7.1 The Pursuit of Greed
	Glossary
	Name Index
	Subject Index