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Strategic Management and Competitive Advantage : Concepts,9780131547162
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Strategic Management and Competitive Advantage : Concepts

by ;
ISBN13:

9780131547162

ISBN10:
013154716X
Format:
Paperback
Pub. Date:
1/1/2006
Publisher(s):
Prentice Hall

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Summary

For courses in strategy/strategic management. For professors who want students to see connections between big ideas in strategy (thus understanding vs. memorizing), Barney/Hesterly provides an organizing framework (VRIO) as the foundation of the text. Students have a clear decision-making framework to use in analyzing cases and business situations.

Table of Contents

Part 1: THE TOOLS OF STRATEGIC ANALYSIS
What Is Strategy and the Strategic Management Process?
2(30)
Opening Case: What Has Napster Wrought?
2(3)
Strategy and the Strategic Management Process
5(7)
Defining Strategy
5(1)
The Strategic Management Process
5(7)
What Is Competitive Advantage?
12(3)
Research Made Relevant: How Sustainable Are Competitive Advantages?
14(1)
The Strategic Management Process, Revisited
14(1)
Measuring Competitive Advantage
15(1)
Accounting Measures of Competitive Advantage
15(7)
Global Perspectives: Accounting Around the World
16(3)
Economic Measures of Competitive Advantage
19(2)
Strategy in Depth: Estimating a Firm's Weighted Average Cost of Capital
21(1)
The Relationship Between Economic and Accounting Performance Measures
22(1)
Emergent Versus Intended Strategies
22(3)
Ethics and Strategy: Stockholders Versus Stakeholders
23(2)
Why You Need to Know About Strategy
25(7)
Strategy in the Emerging Enterprise: Emergent Strategies and Entrepreneurship
26(1)
The Strategic Management Process in an International Context
27(1)
Summary
28(2)
Challenge Questions
30(1)
Problem Set
30(1)
End Notes
31(1)
Evaluating a Firm's External Environment
32(42)
Opening Case: Can TiVo Change the Way You Watch TV?
32(2)
Understanding a Firm's General Environment
34(5)
Global Perspectives: Pokemon Invades Louis Vuitton
37(2)
The Structure-Conduct-Performance Model of Firm Performance
39(2)
Ethics and Strategy: Is a Firm Gaining a Competitive Advantage Good for Society?
40(1)
The Five Forces Model of Environmental Threats
41(14)
Strategy in Depth: The S-C-P Model and the Five Forces Framework
42(1)
The Threat of Entry
43(5)
The Threat of Rivalry
48(1)
The Threat of Substitutes
49(1)
The Threat of Suppliers
49(2)
The Threat of Buyers
51(1)
The Five Forces Model and Average Industry Performance
52(1)
Another Environmental Force: Complementors
53(1)
Research Made Relevant: The Impact of Industry and Firm Characteristics on Firm Performance
54(1)
Industry Structure and Environmental Opportunities
55(9)
Opportunities in Fragmented Industries: Consolidation
56(1)
Opportunities in Emerging Industries: First-Mover Advantages
56(3)
Opportunities in Mature Industries: Product Refinement, Service, and Process Innovation
59(1)
Strategy in the Emerging Enterprise: Microsoft Grows Up
60(2)
Opportunities in Declining Industries: Leadership, Niche, Harvest, and Divestment
62(2)
Threat and Opportunity Analysis in an International Context
64(10)
Analysis of Environmental Threats in an International Context
64(2)
Analysis of Opportunities in an International Context
66(2)
Summary
68(2)
Challenge Questions
70(1)
Problem Set
70(1)
End Notes
71(3)
Evaluating a Firm's Internal Capabilities
74(20)
Opening Case: Electronic Arts---They're in the Game
74(2)
The Resource-Based View of the Firm
76(2)
What Are Resources and Capabilities?
76(1)
Critical Assumptions of the Resource-Based View
77(1)
Strategy in Depth: Ricardian Economics and the Resource-Based View
78(1)
The VRIO Framework
78(16)
The Question of Value
79(2)
Global Perspectives: Does It Pay to Be an American Beer in Europe?
81(1)
Strategy in the Emerging Enterprise: Who Is Yahoo!?
82(2)
Ethics and Strategy: Externalities and the Broader Consequences of Profit Maximization
84(2)
The Question of Rarity
86(1)
The Question of Imitability
87(5)
Research Made Relevant: Strategic Human Resource Management Research
92(1)
The Question of Organization
93(1)
Applying the VRIO Framework
94(20)
Applying the VRIO Framework to Dell Computer
96(2)
Imitation and Competitive Dynamics in an Industry
98(4)
Not Responding to Another Firm's Competitive Advantage
98(2)
Changing Tactics in Response to Another Firm's Competitive Advantage
100(1)
Changing Strategies in Response to Another Firm's Competitive Advantage
101(1)
Implications of the Resource-Based View
102(4)
Where Does the Responsibility for Competitive Advantage in a Firm Reside?
102(1)
Competitive Parity and Competitive Advantage
103(1)
Difficult-to-Implement Strategies
104(1)
Socially Complex Resources
105(1)
The Role of Organization
105(1)
Internal Analysis in an International Context
106(8)
Exploiting Current Resource Advantages in New Markets
106(1)
Developing New Resources and Capabilities in New Markets
107(1)
Summary
108(2)
Challenge Questions
110(1)
Problem Set
110(1)
End Notes
111(3)
Part 2: BUSINESS LEVEL STRATEGIES
Cost Leadership
114(30)
Opening Case: Can Wal-Mart Keep It Going?
114(2)
What Is Business Level Strategy?
116(1)
What Is Cost Leadership?
116(10)
Sources of Cost Advantages
117(6)
Research Made Relevant: The Consolidation of the U.S. Beer Market---Did Buy Pay Too Much?
123(2)
Ethics and Strategy: The Race to the Bottom
125(1)
The Value of Cost Leadership
126(3)
Cost Leadership and the Threat of Entry
126(1)
Cost Leadership and the Threat of Rivalry
126(1)
Strategy in Depth: The Economics of Cost Leadership
127(1)
Cost Leadership and the Threat of Substitutes
128(1)
Cost Leadership and the Threat of Suppliers
128(1)
Cost Leadership and the Threat of Buyers
129(1)
Cost Leadership and Sustained Competitive Advantage
129(6)
The Rarity of Sources of Cost Advantage
129(2)
The Imitability of Sources of Cost Advantage
131(1)
Strategy in the Emerging Enterprise: The Oakland A's: Inventing a New Way to Play Competitive Baseball
132(3)
Organizing to Implement Cost Leadership
135(4)
Organizational Structure in Implementing Cost Leadership
135(3)
Management Controls in Implementing Cost Leadership
138(1)
Compensation Policies and Implementing Cost Leadership Strategies
139(1)
Cost Leadership in an International Context
139(5)
Global Perspectives: The Rise of the Maquiladora
140(1)
Summary
141(1)
Challenge Questions
142(1)
Problem Set
142(1)
End Notes
143(1)
Product Differentiation
144(34)
Opening Case: Who Is Victoria, and What Is Her Secret?
146(1)
What Is Product Differentiation?
146(7)
Bases of Product Differentiation
147(1)
Research Made Relevant: Discovering the Bases of Product Differentiation
148(5)
Product Differentiation and Creativity
153(1)
The Value of Product Differentiation
153(5)
Product Differentiation and Environmental Threats
153(1)
Strategy in Depth: The Economics of Product Differentiation
154(2)
Product Differentiation and Environmental Opportunities
156(1)
Ethics and Strategy: Product Claims and the Ethical Dilemmas in Health Care
157(1)
Product Differentiation and Sustained Competitive Advantage
158(6)
Rare Bases for Product Differentiation
158(1)
The Imitability of Product Differentiation
158(6)
Organizing to Implement Product Differentiation
164(5)
Organizational Structure and Implementing Product Differentiation
165(1)
Management Controls and Implementing Product Differentiation
165(3)
Strategy in the Emerging Enterprise: Can Only Small Firms Be Innovative?
168(1)
Compensation Policies and Implementing Product Differentiation Strategies
168(1)
Can Firms Implement Product Differentiation and Cost Leadership Simultaneously?
169(2)
No: These Strategies Cannot Be Implemented Simultaneously
169(1)
Yes: These Strategies Can Be Implemented Simultaneously
170(1)
Product Differentiation in an International Context
171(7)
Global Perspectives: International Marketing Blunders
172(2)
Summary
174(1)
Challenge Questions
175(1)
Problem Set
175(1)
End Notes
176(2)
Part 3: CORPORATE STRATEGIES
Vertical Integration
178(28)
Opening Case: Who Am I Calling?
178(2)
What Is Corporate Strategy?
180(1)
What Is Vertical Integration?
180(3)
Strategy in Depth: Measuring Vertical Integration
182(1)
The Value of Vertical Integration
183(12)
Vertical Integration and the Threat of Opportunism
183(2)
Vertical Integration and Firm Capabilities
185(1)
Vertical Integration and Flexibility
186(2)
Research Made Relevant: Empirical Tests of Theories of Vertical Integration
188(1)
Applying the Theories to the Management of Call Centers
188(2)
Integrating Different Theories of Vertical Integration
190(1)
Vertical Integration and Sustained Competitive Advantage
190(1)
Ethics and Strategy: The Ethics of Outsourcing
191(1)
The Rarity of Vertical Integration
191(2)
Global Perspectives: Producing a Hindi Version of The Osbournes
193(1)
The Instability of Vertical Integration
194(1)
Organizing to Implement Vertical Integration
195(5)
Organizational Structure and Implementing Vertical Integration
195(1)
Strategy in the Emerging Enterprise: Oprah, Inc.
196(1)
Management Controls and Implementing Vertical Integration
197(1)
Compensation in Implementing Vertical Integration Strategies
198(2)
Vertical Integration in an International Context
200(6)
Summary
202(2)
Challenge Questions
204(1)
Problem Set
204(1)
End Notes
205(1)
Corporate Diversification
206(38)
Opening Case: X-Box Is Coming
206(2)
What Is Corporate Diversification?
208(5)
Types of Corporate Diversification
209(1)
Global Perspectives: How Global Are Globally Diversified Firms?
210(1)
Limited Corporate Diversification
210(1)
Related Corporate Diversification
211(2)
Unrelated Corporate Diversification
213(1)
The Value of Corporate Diversification
213(18)
What Are Valuable Economies of Scope?
213(1)
Research Made Relevant: How Valuable Are Economies of Scope, on Average?
214(6)
Strategy in the Emerging Enterprise: Gore-Tex and Guitar Strings
220(8)
Can Equity Holders Realize These Economies of Scope on Their Own?
228(1)
Ethics and Strategy: Globalization and the Threat of the Multinational Firm
229(2)
Corporate Diversification and Sustained Competitive Advantage
231(3)
The Rarity of Diversification
231(1)
The Imitability of Diversification
231(1)
Strategy in Depth: Risk-Reducing Diversification and a Firm's Other Stakeholders
232(2)
Corporate Diversification in an International Context
234(10)
Financial Risks and International Diversification
235(1)
Political Risks and International Diversification
235(1)
Global Perspectives: Using International Strategies to Avoid Taxes
236(3)
Summary
239(1)
Challenge Questions
240(1)
Problem Set
240(1)
End Notes
241(3)
Organizing to Implement Corporate Diversification
244(32)
Opening Case: Corporate Crooks
244(2)
Organizational Structure and Implementing Corporate Diversification
246(13)
Strategy in Depth: Agency Conflicts Between Managers and Equity Holders
248(1)
The Board of Directors
249(1)
Research Made Relevant: The Effectiveness of Boards of Directors
250(2)
Global Perspectives: The Family Firm in the United States and the World
252(1)
Institutional Owners
252(2)
The Senior Executive
254(1)
Corporate Staff
255(2)
Division General Manager
257(1)
Shared Activity Managers
257(2)
Management Controls and Implementing Corporate Diversification
259(7)
Evaluating Divisional Performance
259(3)
Allocating Corporate Capital
262(1)
Transferring Intermediate Products
263(3)
Compensation Policies and Implementing Corporate Diversification
266(2)
Strategy in the Emerging Enterprise: Transforming Big Business into Entrepreneurship
267(1)
Organizing to Implement Corporate Diversification in an International Context
268(8)
Ethics and Strategy: When Is Enough Too Much?
269(3)
Summary
272(1)
Challenge Questions
273(1)
Problem Set
273(1)
End Notes
274(2)
Strategic Alliances
276(32)
Opening Case: Original Programming at HBO
276(2)
What Is a Strategic Alliance?
278(1)
How Do Strategic Allicances Create Value?
279(9)
Strategic Alliance Opportunities
279(3)
Strategy in Depth: Winning Learning Races
282(2)
Global Perspectives: Can You Hear Me Now?
284(2)
Research Made Relevant: Do Strategic Alliances Facilitate Tacit Collusion?
286(2)
Alliance Threats: Incentives to Cheat on Strategic Alliances
288(4)
Adverse Selection
288(1)
Moral Hazard
289(1)
Strategy in the Emerging Enterprise: Disney and Pixar Have a Falling Out
290(1)
Holdup
291(1)
Strategic Alliances and Sustained Competitive Advantage
292(5)
The Rarity of Strategic Alliances
292(1)
Ethics and Strategy: When It Comes to Alliances, Do ``Cheaters Never Prosper?''
293(1)
The Imitability of Strategic Alliances
294(3)
Organizing to Implement Strategic Alliances
297(6)
Explicit Contracts and Legal Sanctions
297(3)
Equity Investments
300(1)
Firm Reputations
300(1)
Joint Ventures
301(1)
Trust
302(1)
Strategic Alliances in an International Context
303(5)
Summary
304(1)
Challenge Questions
305(1)
Problem Set
305(1)
End Notes
306(2)
Mergers and Acquisitions
308(35)
Opening Case: The Case of the Twin Mergers
308(3)
What Are Mergers and Acquisitions?
311(1)
The Value of Mergers and Acquisitions
312(7)
Mergers and Acquisitions: The Unrelated Case
313(1)
Mergers and Acquisitions: The Related Case
314(4)
Strategy in the Emerging Enterprise: Cashing Out
318(1)
What Does Research Say About Returns to Mergers and Acquisitions?
319(4)
Why Are There So Many Mergers and Acquisitions?
319(1)
Strategy in Depth: Evaluating the Performance Effects of Acquisitions
320(3)
Mergers and Acquisitions and Sustained Competitive Advantage
323(13)
Valuable, Rare, and Private Economies of Scope
323(1)
Valuable, Rare, and Costly-to-Imitate Economies of Scope
324(1)
Unexpected Valuable Economies of Scope Between Bidding and Target Firms
325(1)
Implications for Bidding Firm Managers
326(4)
Global Perspectives: Ford's Acquisition of Jaguar
330(2)
Implications for Target Firm Managers
332(1)
Research Made Relevant: The Wealth Effects of Management Responses to Takeover Attempts
333(3)
Organizing to Implement a Merger or Acquisition
336(2)
Mergers and Acquisitions in an International Context
338(5)
Summary
340(1)
Challenge Questions
341(1)
Problem Set
341(1)
End Notes
342(1)
Appendix: Analyzing Cases and Preparing for Class Discussions 343(4)
Illustration/Photo Credits 347(2)
Glossary 349(8)
Company Index 357(2)
Name Index 359(4)
Subject Index 363


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