Management Strategy: Achieving Sustained Competitive Advantage

by Marcus, Alfred

• ISBN13: 9780078137129
• ISBN10: 0078137128
• Edition: 2nd
• Format: Paperback
• Copyright: 2009-12-28
• Publisher: McGraw-Hill Education

Summary

The Second Edition of Management Strategy is designed to provide employees of an organization with the tools needed to participate in the process of crafting and implementing an organization's strategy.

Table of Contents

Preface	p. ix
Managing Strategically	p. 1
Strategy Basics	p. 2
Introduction	p. 2
Sustained Competitive Advantage	p. 4
Winning Moves	p. 7
Analysis	p. 7
Moves	p. 7
Understanding Management Strategy	p. 9
Chess	p. 9
War	p. 13
Sports	p. 17
Keeping Score: Performance Measurement	p. 19
The Balanced Scorecard	p. 19
Measures of Overall Dominance	p. 20
Industry Boundaries	p. 21
Summary	p. 22
Endnotes	p. 23
External Analysis	p. 25
Introduction	p. 25
Industry Analysis	p. 26
Industrial Organization Economics	p. 27
The Five Forces	p. 27
Industry Differences: Examples of Five-Force Analysis	p. 28
The Strategist's Role in Industry Analysis	p. 32
Long-Term Industry Attractiveness	p. 34
Macroenvironmental Analysis	p. 35
Components of the External Environment	p. 35
Systems and Scenarios	p. 45
Uncertainty	p. 46
An Enacted Environment: The Industry and Its Boundaries	p. 47
Cooperation or Competition?	p. 48
Stakeholder Analysis	p. 49
Stakeholder Theory	p. 49
Agency Theory	p. 49
Summary	p. 50
Endnotes	p. 51
Internal Analysis	p. 53
Introduction	p. 53
Management Theory	p. 55
The Human Relations Approach	p. 56
Contingency Theory	p. 56
The Seven-S Framework	p. 58
Value Chain Analysis	p. 60
Value Chain Linkages	p. 61
Benefits of Value Chain Linkages: An Example	p. 62
The Resource-Based View	p. 62
RBV versus IO Economics	p. 63
Resources, Capabilities, and Competencies	p. 64
From Resources to Capabilities	p. 66
Examples of Company Capabilities	p. 69
From Capabilities to Competencies	p. 71
The Process of Acquisition	p. 74
Summary	p. 74
Endnotes	p. 75
Making Moves	p. 77
Timing and Positioning	p. 78
Introduction	p. 78
Timing	p. 79
The Value of Rapid Adjustment	p. 81
Obstacles to Quick Action	p. 82
Game Theory	p. 83
Learning from Game Theory	p. 87
Positioning	p. 89
Are Low Cost and Differentiation Incompatible?	p. 92
The New Alternative: Best Value	p. 93
Repositioning	p. 95
Strategic Groups: Company Segmentation	p. 97
Segmentation by Product or Service	p. 99
Summary	p. 100
Endnotes	p. 101
Mergers, Acquisitions, and Divestitures	p. 103
Introduction	p. 103
Different Forms a Firm Can Take	p. 104
Mergers, Acquisitions, and Divestitures: The Record Thus Far	p. 105
A Poor Record of Past Performance	p. 106
A Shifting Landscape	p. 107
Motivations Behind M&As	p. 107
The Role of Deregulation	p. 108
Examples of Good Deal Making	p. 111
M&As and the Global Economic Meltdown	p. 112
Pharmaceuticals	p. 112
Why Do M&As Fail?	p. 114
Why Do Mergers Succeed?	p. 116
Mergers of Equals	p. 116
Effective Management	p. 117
Breaking Down the Corporate Hierarchy	p. 120
Is Vertical Integration the Answer?	p. 121
The Entertainment Industry	p. 122
Summary	p. 124
Endnotes	p. 125
Globalization	p. 127
Introduction	p. 127
Reasons for Globalization	p. 128
Product Maturity: Soft Drinks	p. 129
Industry Evolution	p. 130
Global Analysis	p. 131
Where to Invest	p. 132
An Example: Soft Drinks	p. 132
Does Globalization Pay?	p. 134
Which Regions in the World?	p. 135
The Comparative Development of Nations	p. 136
Labor, Capital, and Technology	p. 136
Open Economies	p. 138
Parallels Between Global and Domestic Moves	p. 139
Business Strategy	p. 141
Corporate Strategy	p. 143
Globalization's Challenges	p. 145
Economic Imbalances	p. 145
Insecurity	p. 145
Youth Violence	p. 147
Government Incapacity	p. 148
Summary	p. 149
Endnotes	p. 149
Innovation and Entrepreneurship	p. 151
Introduction	p. 151
Challenges of Succeeding in New Business Ventures	p. 152
Success Stages	p. 152
Commitment	p. 153
Overcoming Barriers	p. 153
Technological Opportunities	p. 159
Trends	p. 159
Experts	p. 160
Alternative Scenarios	p. 160
Leading-Edge Industries	p. 160
Postindustrialism	p. 161
Biotechnology	p. 162
The Environment as a Business Opportunity	p. 164
Environmental Innovation	p. 165
Low-Emissions vehicles	p. 167
Obstacles to Exploiting New Technologies	p. 168
Risk	p. 169
Uncertainty	p. 169
Technology Push and Market Pull	p. 173
Difficulties of Successful Innovation	p. 173
Understanding the Innovation Process	p. 174
Summary	p. 176
Endnotes	p. 176
Repositioning	p. 179
Continuous Reinvention	p. 180
Introduction	p. 180
Judo Strategy	p. 182
Rapid Movement and Agility: An Example	p. 182
Defense and Exploitation	p. 183
Sweet Spots and SCA: Company Analysis	p. 183
Reinvention	p. 185
The Dilemma of Change	p. 186
A Strategic Approach to the Dilemma	p. 187
Innovations in Strategy	p. 189
An Example: Retail Food Industry	p. 189
Competing via Strategic Innovation	p. 190
Summary	p. 195
Endnotes	p. 196
Implementation	p. 197
Introduction	p. 197
The Probability and Anatomy of Failure	p. 198
Home Depot: Performance-Enhancing Moves versus an Engrained Culture	p. 198
Circuit City: "Me Too" Moves versus Faster, More Savvy Foes	p. 199
United Airlines: A Low-Cost Segmentation Move versus Lack of Internal Commitment	p. 199
Swissair: Empire-Building Moves versus Resource Limitations and EU Law	p. 200
The Root Causes of Failure	p. 200
A Comprehensive Implementation Framework	p. 201
Assess Change Readiness	p. 202
Install Integrative Leadership	p. 203
Create a Consistent Message	p. 204
Appoint Cross-Functional Program Teams	p. 204
Solicit Change Program Proposals	p. 205
Select and Prioritize Proposed Change Programs	p. 205
Assign Process Owners and Align Resources	p. 206
Secure Funding, Formalize Operational Objectives, and Design Incentives	p. 208
Advance and Continually Monitor Initiatives	p. 209
Fortify Gains and Refine the Implementation Process	p. 211
Summary	p. 211
Endnotes	p. 212
Glossary	p. 214
Index	p. 221
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