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Concepts in Strategic Management and Business Policy,9780131424050
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Concepts in Strategic Management and Business Policy

by ;
Edition:
9th
ISBN13:

9780131424050

ISBN10:
013142405X
Format:
Paperback
Pub. Date:
1/1/2004
Publisher(s):
Prentice Hall
List Price: $100.00
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Summary

This comprehensive text offers an engaging look into new and traditional strategic management topics. Its thorough coverage helps students develop an understanding of the wide range of theories and research available in this fieldfrom competitive strategy and industry analysis to environmental trends and ethics. Integration of international issues throughout provides an essential understanding of global economics and its impact on business activities in any location.

Table of Contents

Preface xxi
PART ONE Introduction to Strategic Management and Business Policy 1(50)
Chapter 1 Basic Concepts of Strategic Management
1(24)
1.1 The Study of Strategic Management
2(3)
Phases of Strategic Management
3(1)
Benefits of Strategic Management
4(1)
1.2 Globalization and Electronic Commerce: Challenges to Strategic Management
5(2)
Impact of Globalization
5(1)
Impact of Electronic Commerce
5(1)
GLOBAL ISSUE: Regional Trade Associations Replace National Trade Barriers
6(1)
1.3 Theories of Organizational Adaptation
7(1)
1.4 Creating a Learning Organization
8(1)
1.5 Basic Model of Strategic Management
9(7)
Environmental Scanning
9(1)
Strategy Formulation
10(5)
Strategy Implementation
15(1)
Evaluation and Control
16(1)
Feedback/Learning Process
16(1)
1.6 Initiation of Strategy: Triggering Events
16(2)
INTERNET ISSUE: Triggering Event at Sun Microsystems
17(1)
1.7 Strategic Decision Making
18(4)
What Makes a Decision Strategic
18(1)
Mintzberg's Modes of Strategic Decision Making
18(1)
Strategic Decision-Making Process: Aid to Better Decisions
19(3)
8 Impact of the Internet on Strategic Management
22(3)
Chapter 2 Corporate Governance and Social Responsibility
25(26)
2.1 Corporate Governance: Role of the Board of Directors
26(9)
Responsibilities of the Board
27(2)
Members of a Board of Directors
29(1)
THEORY AS IT APPLIES: Agency Theory Versus Stewardship Theory in Corporate Governance
30(2)
Nomination and Election of Board Members
32(1)
Organization of the Board
33(1)
Trends in Corporate Governance
34(1)
2.2 Corporate Governance: The Role of Top Management
35(2)
Responsibilities of Top Management
35(2)
2.3 Social Responsibilities of Strategic Decision Makers
37(3)
Responsibilities of a Business Firm
37(2)
Corporate Stakeholders
39(1)
2.4 Ethical Decision Making
40(4)
GLOBAL ISSUE: Unethical Practices at Enron and WorldCom Exposed by "Whistleblowers"
40(4)
Some Reasons for Unethical Behavior
41(1)
Encouraging Ethical Behavior
42(2)
2.5 Impact of the Internet on Corporate Governance and Social Responsibility
44(6)
INTERNET ISSUE: Governments Act to Protect Society by Regulating the Internet
45(5)
PART ENDING VIDEO CASE: Newbury Comics, Inc.
50(1)
PART TWO Scanning the Environment 51(57)
Chapter 3 Environmental Scanning and Industry Analysis
51(29)
3.1 Environmental Scanning
52(8)
Identifying External Environmental Variables
52(6)
GLOBAL ISSUE: Identifying Potential Markets in Developing Nations
58(16)
Identifying External Strategic Factors
59(1)
3.2 Industry Analysis: Analyzing the Task Environment
60(10)
Porter's Approach to Industry Analysis
60(4)
Industry Evolution
64(1)
Categorizing International Industries
64(1)
International Risk Assessment
65(1)
Strategic Groups
66(1)
Strategic Types
66(1)
Hypercompetition
67(2)
Using Key Success Factors to Create an Industry Matrix
69(1)
3.3 Competitive Intelligence
70(1)
3.4 Forecasting
71(2)
Danger of Assumptions
71(1)
Useful Forecasting Techniques
72(1)
3.5 Synthesis of External Factors-EFAS
73(1)
3.6 Impact of the Internet on Environmental Scanning and Industry Analysis
74(6)
INTERNET ISSUE: Competitor Information Available on the Internet
76(4)
Chapter 4 Internal Scanning: Organizational Analysis
80(28)
4.1 A Resource-Based Approach to Organizational Analysis
81(3)
Using Resources to Gain Competitive Advantage
82(1)
Determining the Sustainability of an Advantage
82(2)
4.2 Value Chain Analysis
84(3)
Industry Value Chain Analysis
84(1)
Corporate Value Chain Analysis
85(2)
4.3 Scanning Functional Resources
87(13)
Basic Organizational Structures
87(1)
Corporate Culture: The Company Way
88(1)
Strategic Marketing Issues
89(1)
GLOBAL ISSUE: ABB Uses Corporate Culture as a Competitive Advantage
90(9)
Strategic Financial Issues
91(1)
Strategic Research and Development (R&D) Issues
92(3)
Strategic Operations Issues
95(2)
Strategic Human Resource Management (HRM) Issues
97(2)
Strategic Information Systems/Technology Issues
99(1)
INTERNET ISSUE: The Growing Global Internet Economy
99(1)
4.4 The Strategic Audit: A Checklist for Organizational Analysis
100(1)
4.5 Synthesis of Internal Factors: IFAS
101(1)
4.6 Impact of the Internet on Internal Scanning and Organizational Analysis
102(4)
PART ENDING VIDEO CASE: Newbury Comics, Inc.
106(2)
PART THREE Strategy Formulation 108(83)
Chapter 5 Strategy Formulation: Situation Analysis and Business Strategy
108(28)
5.1 Situational Analysis: SWOT Analysis
109(5)
Generating a Strategic Factors Analysis Summary (SFAS) Matrix
110(2)
Finding a Propitious Niche
112(1)
GLOBAL ISSUE: SAB Defends Its Propitious Niche
113(1)
5.2 Review of Mission and Objectives
114(1)
5.3 Generating Alternative Strategies Using a TOWS Matrix
114(1)
5.4 Business Strategies
115(16)
Porter's Competitive Strategies
117(9)
Cooperative Strategies
126(4)
INTERNET ISSUE: Business to Business at Cisco Systems
130(1)
5.5 Impact of the Internet on Business Strategy
131(5)
Chapter 6 Strategy Formulation: Corporate Strategy
136(28)
6.1 Corporate Strategy
137(1)
6.2 Directional Strategy
138(13)
Growth Strategies
138(3)
THEORY AS IT APPLIES: Transaction Cost Economics Analyzes Vertical Growth Strategy
141(2)
International Entry Options
143(1)
GLOBAL ISSUE: Wal-Mart Enters International Markets
144(15)
Controversies in Directional Growth Strategies
146(1)
Stability Strategies
146(2)
Retrenchment Strategies
148(3)
6.3 Portfolio Analysis
151(5)
BCG Growth-Share Matrix
151(2)
GE Business Screen
153(1)
International Portfolio Analysis
154(1)
Advantages and Limitations of Portfolio Analysis
155(1)
6.4 Corporate Parenting
156(3)
Developing a Corporate Parenting Strategy
156(1)
Parenting-Fit Matrix
157(2)
Horizontal Strategy and Multipoint Competition
159(1)
6.5 Impact of the Internet on Corporate Strategy
159(5)
INTERNET ISSUE: Global Online Population
160(4)
Chapter 7 Strategy Formulation: Functional Strategy and Strategic Choice
164(27)
7.1 Functional Strategy
165(12)
Core Competencies
165(1)
The Sourcing Decision: Where Should Functions Be Housed?
166(2)
Marketing Strategy
168(1)
Financial Strategy
169(1)
Research and Development (R&D) Strategy
170(1)
Operations Strategy
171(1)
GLOBAL ISSUE: International Differences Alter Whirlpool's Operations Strategy
172(3)
Purchasing Strategy
173(1)
Logistics Strategy
174(1)
INTERNET ISSUE: Staples Uses Internet to Replenish Inventory from 3M
175(22)
Human Resources Management (HRM) Strategy
175(1)
Information Systems Strategy
176(1)
7.2 Strategies to Avoid
177(1)
7.3 Strategic Choice: Selection of the Best Strategy
177(7)
Constructing Corporate Scenarios
178(5)
Process of Strategic Choice
183(1)
7.4 Development of Policies
184(1)
7.5 Impact of the Internet on Functional Strategy
185(5)
PART ENDING VIDEO CASE: Newbury Comics, Inc.
190(1)
PART FOUR Strategy Implementation and Control 191(86)
Chapter 8 Strategy Implementation: Organizing for Action
191(26)
8.1 Strategy Implementation
192(1)
8.2 Who Implements Strategy?
193(1)
8.3 What Must Be Done?
194(3)
Developing Programs, Budgets, and Procedures
194(2)
Achieving Synergy
196(1)
8.4 How Is Strategy to Be Implemented? Organizing for Action
197(12)
Structure Follows Strategy
197(1)
Stages of Corporate Development
198(3)
Organizational Life Cycle
201(1)
INTERNET ISSUE: The Founder of the Modem Blocks Transition to Stage II
202(7)
Advanced Types of Organizational Structures
204(3)
Reengineering and Strategy Implementation
207(1)
Designing Jobs to Implement Strategy
208(1)
THEORY AS IT APPLIES: Designing Jobs with the Job Characteristics Model
209(1)
8.5 International Issues in Strategy Implementation
209(3)
Stages of International Development
210(1)
Centralization Versus Decentralization
210(1)
GLOBAL ISSUE: FedEx Provides the Infrastructure for Companies to Become Global
211(1)
8.6 Impact of the Internet on Organizational Design and Structure
212(5)
Chapter 9 Strategy Implementation: Staffing and Directing
217(24)
9.1 Staffing
218(7)
Staffing Follows Strategy
219(2)
Selection and Management Development
221(1)
Problems in Retrenchment
222(2)
International Issues in Staffing
224(1)
9.2 Leading
225(10)
Managing Corporate Culture
225(4)
Action Planning
229(2)
Management By Objectives
231(1)
Total Quality Management
232(1)
International Considerations in Leading
232(2)
GLOBAL ISSUE: Cultural Differences Create Implementation Problems in Merger
234(1)
9.3 Impact of the Internet on Staffing and Leading in Organizations
235(6)
Static Intranet Applications
235(1)
Dynamic Intranet Applications
236(1)
INTERNET ISSUE: Virtual Teams Use the Net to Operate at Long Distance
236(7)
Advantages and Disadvantages of Intranets
237(4)
Chapter 10 Evaluation and Control
241(36)
10.1 Evaluation and Control in Strategic Management
243(1)
10.2 Measuring Performance
243(13)
Appropriate Measures
243(1)
Types of Controls
243(2)
Activity-Based Costing
245(1)
Primary Measures of Corporate Performance
246(2)
INTERNET ISSUE: "Eyeballs" and "MUUs": Questionable Performance Measures
248(7)
Primary Measures of Divisional and Functional Performance
252(2)
International Measurement Issues
254(1)
GLOBAL ISSUE: The Impact of Piracy on International Trade
255(1)
10.3 Strategic Information Systems
256(1)
Enterprise Resource Planning (ERP)
256(1)
Divisional and Functional IS Support
257(1)
10.4 Problems in Measuring Performance
257(2)
Short-Term Orientation
258(1)
Goal Displacement
258(1)
10.5 Guidelines for Proper Control
259(1)
10.6 Strategic Incentive Management
260(2)
10.7 Using the Strategic Audit to Evaluate Corporate Performance
262(1)
10.8 Impact of the Internet on Evaluation and Control
262(12)
Appendix 10.A Strategic Audit of a Corporation
265(9)
PART ENDING VIDEO CASE: Newbury Comics, Inc.
274(3)
PART FIVE Other Strategic Issues 277(64)
Chapter 11 Strategic Issues in Managing Technology and Innovation
277(24)
11.1 Role of Management
278(2)
11.2 Environmental Scanning
280(4)
External Scanning
280(3)
Internal Scanning
283(1)
Resource Allocation Issues
283(1)
11.3 Strategy Formulation
284(6)
GLOBAL ISSUE: Impact of R&D on Competitive Advantage in China
285(9)
Product Versus Process R&D
285(1)
Technology Sourcing
286(2)
Importance of Technological Competence
288(1)
Product Portfolio
289(1)
11.4 Strategy Implementation
290(4)
Developing an Innovative Entrepreneurial Culture
290(1)
Organizing for Innovation: Corporate Entrepreneurship
291(3)
11.5 Evaluation and Control
294(2)
INTERNET ISSUE: Software Company Challenges Hackers to Attack Its Product
295(1)
11.6 Impact of the Internet on Managing Technology and Innovation
296(5)
Chapter 12 Strategic Issues in Entrepreneurial Ventures and Small Businesses
301(23)
12.1 Importance of Small Business and Entrepreneurial Ventures
301(3)
GLOBAL ISSUE: Entrepreneurship: Some Countries Are More Supportive Than Others
302(7)
Definition of Small-Business Firms and Entrepreneurial Ventures
303(1)
The Entrepreneur as a Strategist
303(1)
12.2 Use of Strategic Planning and Strategic Management
304(4)
Degree of Formality
304(1)
Usefulness of Strategic Management Model
305(1)
Usefulness of Strategic Decision-Making Process
305(3)
12.3 Issues in Corporate Governance
308(1)
12.4 Issues in Environmental Scanning and Strategy Formulation
309(4)
Sources of Innovation
309(2)
Factors Affecting a New Venture's Success
311(1)
INTERNET ISSUE: Web Site Provides Local Business a Global Presence
312(1)
12.5 Issues in Strategy Implementation
313(3)
Substages of Small Business Development
313(2)
Transfer of Power and Wealth in Family Businesses
315(1)
12.6 Issues in Evaluation and Control
316(2)
12.7 Impact of the Internet on Entrepreneurial Ventures and Small Businesses
318(6)
Chapter 13 Strategic Issues in Not-For-Profit Organizations
324(17)
13.1 Why Not-For-Profit?
325(1)
GLOBAL ISSUE: Which Is Best for Society: Business or Not-For-Profit?
326(1)
13.2 Importance of Revenue Source
326(3)
Sources of Not-For-Profit Revenue
327(1)
Patterns of Influence on Strategic Decision Making
327(2)
Usefulness of Strategic Management Concepts and Techniques
329(1)
13.3 Impact of Constraints on Strategic Management
329(3)
Impact on Strategy Formulation
330(1)
Impact on Strategy Implementation
331(1)
Impact on Evaluation and Control
332(1)
13.4 Popular Not-For-Profit Strategies
332(3)
Strategic Piggybacking
332(1)
Mergers
333(1)
Strategic Alliances
333(2)
13.5 Impact of the Internet on Not-For-Profit Organizations
335(6)
Taxation
335(1)
Improvement of Government Services
335(1)
Impact on Other Not-For-Profit Organizations
336(1)
INTERNET ISSUE: The Not-For-Profit Organizations That Rule the Internet
336(5)
PART SIX Introduction to Case Analysis 341
Chapter 14 Suggestions for Case Analysis
341
14.1 The Case Method
342(1)
14.2 Researching the Case Situation
342(1)
14.3 Financial Analysis: A Place to Begin
342(6)
Analyzing Financial Statements
343(3)
Common-Size Statements
346(1)
Z-Value, Index of Sustainable Growth, and Free Cash Flow
346(1)
Useful Economic Measures
347(1)
GLOBAL ISSUE: Why Consider Inflation in Case Analysis?
348(1)
14.4 Format for Case Analysis: The Strategic Audit
348(3)
14.5 Impact of the Internet on Case Analysis
351
Finding a Company's Web Site
351(1)
INTERNET ISSUE: Top 10 Internet Scams
352
Using a Search Engine
352(1)
Finding More Information
352(3)
Appendix 14.A Resources for Case Research
355(2)
Appendix 14.B Suggested Case Analysis Methodology Using the Strategic Audit
357(4)
Appendix 14.C Example of Student-Written Strategic Audit
361
Glossary G-1
Name Index I-1
Subject Index I-13

Excerpts

We wroteConcepts in Strategic Management and Business Policyto introduce you to strategic management--a field of inquiry that focuses on the organization as a whole and its interactions with its environment. The corporate world is in the process of transformation driven by information technology (in particular the Internet) and globalization. Strategic management takes a panoramic view of this changing corporate terrain and attempts to show how large and small firms can be more effective and efficient not only in today's world, but in tomorrow's as well. The text has been class-tested in strategy courses and revised based on feedback from students and instructors. For the most part, the text is unchanged from the eighth edition. The only changes are the additions of Enron, Tyco, and Worldcom examples in Chapter 2 and the inclusion of a glossary of key terms at the back of the book. The first 10 chapters are organized around a strategic management model that prefaces each chapter and provides a structure for both content and case analysis. We emphasize those concepts that have proven to be most useful in understanding strategic decision-making and in conducting case analysis. Our goal was to make the text as comprehensive as possible without getting bogged down in any one area. Endnote references are provided for those who wish to learn more about any particular topic. The primary changes from the eighth edition are the selection of cases. We included new versions of eight popular full-length cases and five entirely new cases. We also added a special category of ten experiential cases called Internet Research Mini-Cases. All of the cases are about actual organizations. The firms range in size from large, established multinationals to small, entrepreneurial ventures, and cover a broad variety of issues. As an aid to case analysis, we propose the strategic audit as an analytical technique. Objectives This book focuses on the following objectives, typically found in most strategic management and business policy courses: To develop an understanding of strategic management concepts, research, and theories. To develop a framework of analysis to enable a student to identify central issues and problems in complex, comprehensive cases; to suggest alternative courses of action; and to present well-supported recommendations for future action. To develop conceptual skills so that a student is able to integrate previously learned aspects of corporations. To develop an understanding of the global economy and the Internet and their current and potential impact on business activities in any location. To develop an understanding of the role of corporate governance in strategic management. To develop the ability to analyze and evaluate, both quantitatively and qualitatively, the performance of the people responsible for strategic decisions. To bridge the gap between theory and practice by developing an understanding of when and how to apply concepts and techniques learned in earlier courses on marketing, accounting, finance, management, operations, and information systems. To improve research capabilities necessary to gather and interpret key environmental data. To develop a better understanding of the present and future environments in which corporations must function. To develop analytical and decision-making skills for dealing with complex conceptual problems in an ethical manner. This book achieves these objectives by presenting and explaining concepts and theories useful in understanding the strategic management process. It critically analyzes studies in the field of strategy to acquaint the student with the literature of this area and to help develop the student's research capabilities. It also suggests a model of strategic management. It recommends the strategic audit as one approach to the systematic analys


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