Essentials of Strategic Management

by Hunger, J. David; Wheelen, Thomas L.

• ISBN13: 9780136006695
• ISBN10: 0136006698
• Edition: 5th
• Format: Paperback
• Copyright: 2010-07-19
• Publisher: Pearson

Summary

Essentials of Strategic Managementoffers a concise explanation of the most important concepts and techniques in strategic management. Further, the brevity of this text makes it suitable for use in corporate and executive training programs. Basic Concepts of Strategic Management; Corporate Governance, Ethics, and Social Responsibility; Environmental Scanning and Industry Analysis; Internal Scanning: Organizational Analysis; Strategy Formulation: Situation Analysis and Business Strategy; Strategy Formulation: Corporate Strategy; Strategy Formulation: Functional Strategy and Strategic Choice; Strategy Implementation: Organizing for Action; Strategy Implementation: Staffing and Leading; Evaluation and Control; Suggestions for Case Analysis For professionals in fields of strategic planning and competitive strategy.

Table of Contents

Preface	p. xiii
Introduction to Strategic Management	p. 1
Basic Concepts of Strategic Management	p. 1
The Study of Strategic Management	p. 2
Initiation of Strategy: Triggering Events	p. 4
Basic Model of Strategic Management	p. 5
Strategic Decision Making	p. 11
Discussion Questions	p. 14
Key Terms	p. 14
Notes	p. 15
Corporate Governance and Social Responsibility	p. 16
Corporate Governance: Role of the Board of Directors	p. 17
Corporate Governance: Role of Top Management	p. 23
Social Responsibilities and Ethics in Strategic Decision Making	p. 24
Discussion Questions	p. 28
Key Terms	p. 29
Notes	p. 29
Scanning the Environment	p. 30
Environmental Scanning and Industry Analysis	p. 30
Environmental Scanning	p. 31
Industry Analysis: Analyzing the Task Environment	p. 37
Competitive Intelligence	p. 46
Forecasting	p. 47
Synthesis of External Factors-EFAS	p. 48
Discussion Questions	p. 50
Key Terms	p. 50
Notes	p. 51
Internal Scanning: Organizational Analysis	p. 52
Resource-Based View of the Firm	p. 52
Business Models	p. 55
Value-Chain Analysis	p. 56
Scanning Internal Resources and Capabilities	p. 57
Synthesis of Internal Factors-IFAS	p. 69
Discussion Questions	p. 70
Key Terms	p. 71
Notes	p. 71
Strategy Formulation	p. 72
Strategy Formulation: Situation Analysis and Business Strategy	p. 72
Situational (SWOT) Analysis	p. 72
Review of Mission and Objectives	p. 76
Generating Alternative Strategies Using a TOWS Matrix	p. 77
Business Strategies	p. 78
Discussion Questions	p. 87
Key Terms	p. 87
Notes	p. 88
Strategy Formulation: Corporate Strategy	p. 89
Corporate Strategy	p. 90
Directional Strategy	p. 90
Portfolio Analysis	p. 97
Corporate Parenting	p. 102
Discussion Questions	p. 104
Key Terms	p. 104
Notes	p. 104
Strategy Formulation: Functional Strategy and Strategic Choice	p. 105
Functional Strategy	p. 106
The Sourcing Decision: Location of Functions and Capabilities	p. 110
Strategies to Avoid	p. 111
Strategic Choice: Selection of the Best Strategy	p. 111
Development of Policies	p. 117
Discussion Questions	p. 117
Key Terms	p. 117
Notes	p. 118
Strategy Implementation and Control	p. 119
Strategy Implementation: Organizing for Action	p. 119
What Is Strategy Implementation?	p. 120
Who Implements Strategy?	p. 120
What Must Be Done?	p. 120
How Is Strategy to be Implemented? Organizing for Action	p. 121
International Issues in Strategy Implementation	p. 131
Discussion Questions	p. 132
Key Terms	p. 132
Notes	p. 132
Strategy Implementation: Staffing and Leading	p. 134
Staffing	p. 135
Leading	p. 139
Discussion Questions	p. 145
Key Terms	p. 146
Notes	p. 146
Evaluation and Control	p. 147
Evaluation and Control in Strategic Management	p. 148
Measuring Performance	p. 149
Strategic Information Systems	p. 156
Guidelines for Proper Control	p. 157
Strategic Incentive Management	p. 157
Discussion Questions	p. 159
Key Terms	p. 160
Notes	p. 160
Introduction to Case Analysis	p. 161
Suggestions for Case Analysis	p. 161
The Case Method	p. 161
Frameworks for Case Analysis	p. 161
Researching the Case Situation	p. 162
Financial Analysis: A Place to Begin	p. 162
Using the Strategic Audit in Case Analysis	p. 168
Discussion Questions	p. 168
Key Terms	p. 169
Notes	p. 169
Suggested Techniques for Case Analysis and Presentation	p. 170
Case Analysis	p. 170
Written Report	p. 171
Oral Presentation by Teams	p. 171
Resources for Case Research	p. 173
Company Information	p. 173
Economic Information	p. 173
Industry Information	p. 173
Directory and Index Information on Companies and Industries	p. 174
Ratio Analysis Information	p. 174
Online Information	p. 174
Strategic Audit of a Corporation	p. 176
Current Situation	p. 176
Corporate Governance	p. 176
External Environment: Opportunities and Threats	p. 177
Internal Environment: Strengths and Weaknesses	p. 178
Analysis of Strategic Factors (SWOT)	p. 183
Strategic Alternatives and Recommended Strategy	p. 183
Implementation	p. 184
Evaluation and Control	p. 184
Index	p. 185
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