Strategic Management Competitiveness and Globalization, Concepts with InfoTrac College Edition

by Hitt, Michael A.; Ireland, R. Duane; Hoskisson, Robert E.

• ISBN13: 9780324048919
• ISBN10: 0324048912
• Edition: 4th
• Format: Paperback
• Copyright: 2000-07-19
• Publisher: South-Western College Pub

Summary

Are you looking for the perfect tool to guide you in today's fast paced business world? In STRATEGIC MANAGEMENT: COMPETITIVENESS AND GLOBALIZATION you will discover a unique model that blends both new and old ideas resulting in a cutting edge, accurate and relevant text. Specific examples, models, and figures emphasize important points and make the text easy to understand.

Table of Contents

PART 1 STRATEGIC MANAGEMENT INPUTS
Strategic Management and Strategic Competitiveness	2	(44)
E-Commerce Strategy: Changing the Nature of Competition	3	(4)
The Challenge of Strategic Management	7	(2)
The 21st Century Competitive Landscape	9	(12)
The Impermanence of Success	10	(2)
The Global Economy	12	(2)
The March of Globalization	14	(3)
Technology and Technological Changes	17	(2)
Compaq Is Flailing against Internet Technological Trends	19	(2)
The I/O Model of Above-Average Returns	21	(2)
The Resource-Based Model of Above-Average Returns	23	(3)
Strategic Intent and Strategic Mission	26	(2)
Strategic Intent	26	(1)
Strategic Mission	27	(1)
Stakeholders	28	(6)
Classification of Stakeholders	28	(4)
Both Qwest Communication and Global Crossing Make Offers for U.S. West	32	(2)
Organizational Strategists	34	(3)
The Work of Effective Strategists	36	(1)
The Strategic Management Process	37	(2)
Summary	39	(1)
Review Questions	40	(1)
Application Discussion Questions	40	(1)
Ethics Questions	41	(1)
Internet Exercise	41	(1)
Notes	41	(5)
The External Environment: Opportunities, Threats, Industry Competition, and Competitior Analysis	46	(46)
The Globalization of General Electric	47	(3)
The General, Industry, and Competitor Environments	50	(2)
External Environmental Analysis	52	(3)
Scanning	53	(1)
Monitoring	54	(1)
Forecasting	54	(1)
Assessing	54	(1)
Segments of the General Environment	55	(13)
The Demographic Segment	56	(2)
The Economic Segment	58	(2)
The Political/Legal Segment	60	(1)
The Sociocultural Segment	61	(2)
The Technological Segment	63	(2)
The Global Segment	65	(2)
Dell's Direct Business Model Leads to Strategic Success in China	67	(1)
Industry Environment Analysis	68	(12)
Threat of New Entrants	70	(3)
Bargaining Power of Suppliers	73	(1)
Bargaining Power of Buyers	73	(1)
Threat of Substitute Products	74	(1)
Intensity of Rivalry among Competitors	75	(1)
Amazon.com and Barnesandnoble.com: A Continuing Rivalry	76	(4)
Interpreting Industry Analyses	80	(1)
Strategic Groups	80	(1)
The Value of Strategic Group Analysis	81	(1)
Competitor Analysis	81	(5)
Competitive Intelligence and the Internet	84	(2)
Summary	86	(1)
Review Questions	87	(1)
Application Discussion Questions	87	(1)
Ethics Questions	87	(1)
Internet Exercise	87	(1)
Notes	88	(4)
The Internal Environment: Resources, Capabilities, and Core Competencies	92	(48)
Brands as a Source of Competitive Advantage	93	(6)
The Importance of Internal Analysis	99	(6)
The Challenge of Internal Analysis	103	(2)
Resources, Capabilities, and Core Competencies	105	(9)
Resources	105	(3)
Capabilities	108	(2)
Knowledge Management and Sustainable Competitive Advantage	110	(3)
Core Competencies	113	(1)
Building Core Competencies	114	(13)
Criteria of Sustainable Competitive Advantage	114	(4)
Trust: Is it Valuable, Rare, Costly to Imitate, and Nonsubstitutable?	118	(2)
Value Chain Analysis	120	(3)
Creating Value at FedEx and UPS	123	(4)
Outsourcing	127	(2)
Core Competencies: Cautions and Reminders	129	(2)
Strategic Inputs and Strategic Actions	131	(1)
Summary	131	(1)
Review Questions	132	(1)
Application Discussion Questions	133	(1)
Ethics Questions	133	(1)
Internet Exercise	134	(1)
Notes	134	(6)
PART 2 STRATEGIC ACTIONS: STRATEGY FORMULATION
Business-Level Strategy	140	(44)
The Internet, Customer (Buyer) Power, and Business-Level Strategy	141	(6)
Customers: Who, What, and How	147	(6)
Who: Determining the Customers to Serve	149	(3)
What: Determining the Customer Needs to Satisfy	152	(1)
How: Determining Core Competencies Necessary to Satisfy Customers' Needs	153	(1)
Types of Business-Level Strategy	153	(26)
Cost Leadership Strategy	155	(5)
Competitive Risks of the Cost Leadership Strategy	160	(1)
Differentiation Strategy	161	(1)
Sony Corporation's Use of the Differentiation Business-Level Strategy	162	(4)
Gap's Success and the Risk of Cannibalization by Its Own Offspring	166	(1)
Competitive Risks of the Differentiation Strategy	167	(1)
Focus Strategies	168	(3)
Competitive Risks of Focus Strategies	171	(1)
Integrated Cost Leadership/Differentiation Strategy	172	(3)
Competitive Risks of the Integrated Cost Leadership/Differentiation Strategy	175	(1)
Merrill Lynch Compromises Its Differentiation Strategy by Implementing an On-line Strategy	176	(3)
Summary	179	(1)
Review Questions	180	(1)
Application Discussion Questions	180	(1)
Ethics Questions	180	(1)
Internet Exercise	181	(1)
Notes	181	(3)
Competitive Dynamics	184	(44)
The Global Competitive Landscape Is Changing: Wal-Mart Is on the Move	185	(2)
Increased Rivalry in the New Competitive Landscape	187	(3)
Model of Competitive Dynamics and Rivalry	190	(6)
Market Commonality	192	(1)
Air Wars: Competitive Rivalry among Airlines	193	(2)
Resource Similarity	195	(1)
Likelihood of Attack	196	(4)
First, Second, and Late Movers	197	(3)
Likelihood of Response	200	(5)
Type of Competitive Action	200	(1)
Actor's Reputation	201	(1)
Car Wars: The Battle for Survival	202	(1)
Dependence on the Market	203	(2)
Firms' Abilities to Take Action and Response	205	(8)
Relative Size of Firm	205	(2)
Cola Wars, Water Wars, and Going for the Jugular Vein	207	(1)
Speed of Competitive Actions and Competitive Responses	208	(1)
Innovation	209	(1)
Quality	210	(3)
Outcomes of Interfirm Rivalry	213	(8)
Competitive Market Outcomes	214	(2)
Competing in Fast-Cycle Markets	216	(2)
Competitive Dynamics and Industry Evolution Outcomes	218	(3)
Summary	221	(1)
Review Questions	222	(1)
Application Discussion Questions	223	(1)
Ethics Questions	223	(1)
Internet Exercise	223	(1)
Notes	224	(4)
Corporate-Level Strategy	228	(44)
CMGI: A Diversified Internet Conglomerate	229	(4)
History of Diversification	233	(1)
Levels of Diversification	234	(3)
Low Levels of Diversification	235	(1)
Moderate and High Levels of Diversification	236	(1)
Reasons for Diversification	237	(2)
Related Diversification	239	(9)
Operational Relatedness: Sharing Activities	240	(2)
Corporate Relatedness: Transferring of Core Competencies	242	(1)
Williams Companies Transfers Its Skills from Natural-Gas Pipelines to Internet Pipelines	243	(1)
Market Power	244	(4)
Unrelated Diversification	248	(6)
Efficient Internal Capital Market Allocation	249	(1)
Refocusing Large Diversified Business Groups in Emerging Economies	250	(3)
Restructuring	253	(1)
Diversification: Incentives and Resources	254	(7)
Incentives to Diversify	254	(6)
Resources and Diversification	260	(1)
Extent of Diversification	261	(1)
Managerial Motives to Diversify	261	(5)
AOL's Diversification Merger with Time Warner	264	(2)
Summary	266	(1)
Review Questions	267	(1)
Application Discussion Questions	267	(1)
Ethics Questions	267	(1)
Internet Exercise	268	(1)
Notes	268	(4)
Acquisition and Restructuring Strategies	272	(40)
The Internet: Diving Mergers and Acquisitions in the Global Economy	273	(2)
The Increasing Use of Merger and Acquisition Strategies	275	(21)
Mergers, Acquisitions, and Takeovers: What Are the Differences?	276	(1)
Reasons for Acquisitions	277	(3)
BP Amoco and Atlantic Richfield Co.: A Case of Intentions and Realities in the World of Acquisitions	280	(4)
Daimler-Benz and Chrysler Corporation: Will It Be a Successful Union?	284	(4)
Problems in Achieving Acquisition Success	288	(8)
Effective Acquisitions	296	(2)
Restructuring	298	(8)
Successful Acquisitions the Cisco Systems Way	299	(1)
Downsizing	300	(1)
Downscoping	301	(1)
Leveraged Buyouts	302	(1)
Restructing Outcomes	303	(3)
Summary	306	(1)
Review Questions	307	(1)
Application Discussion Questions	307	(1)
Ethics Questions	307	(1)
Internet Exercise	308	(1)
Notes	308	(4)
International Strategy	312	(46)
Technology and Globalization: A Changing Landscape in the 21st Century	313	(4)
Identifying International Opportunities: The Incentive to Pursue an International Strategy	317	(6)
Increased Market Size	320	(1)
Return on Investment	321	(1)
Economies of Scale and Learning	322	(1)
Location Advantages	323	(1)
International Strategies	323	(11)
International Business-Level Strategy	323	(1)
The Decade of Europe: 2000-2010	324	(7)
International Corporate-Level Strategy	331	(3)
Environmental Trends	334	(3)
Awakening of the Asian Tiger	335	(2)
Regionalization	337	(1)
Choice of International Entry Mode	337	(6)
Exporting	338	(1)
Licensing	339	(1)
Strategic Alliances	340	(1)
Acquisitions	340	(2)
New Wholly Owned Subsidiary	342	(1)
Dynamics of Mode of Entry	342	(1)
Strategic Competitiveness Outcomes	343	(2)
International Diversification and Returns	343	(1)
International Diversification and Innovation	344	(1)
Complexity of Managing Multinational Firms	345	(1)
Risks in an International Environment	345	(6)
Political Risks	345	(1)
LAU: Is There an Opportunity for a Latin American Union?	346	(3)
Economic Risks	349	(1)
Limits to International Expansion: Management Problems	350	(1)
Other Management Problems	351	(1)
Summary	351	(1)
Review Questions	352	(1)
Application Discussion Questions	353	(1)
Ethics Questions	353	(1)
Internet Exercise	353	(1)
Notes	354	(4)
Cooperative Strategy	358	(42)
Using Cooperative Strategies in the Global Automobile Industry	359	(3)
Types of Cooperative Strategies	362	(6)
Reasons Firms Develop Strategic Alliances	364	(4)
Business-Level Cooperative Strategies	368	(10)
Complementary Alliances	369	(2)
Horizontal Alliances Among Airline Companies: A Route to Increased Strategic Competitiveness?	371	(3)
Competition Reduction Strategies	374	(2)
Competition Response Strategies	376	(1)
Uncertainty Reduction Strategies	377	(1)
Assessment of Competitive Advantage for Business-Level Cooperative Strategies	378	(1)
Corporate-Level Cooperative Strategies	378	(4)
Diversifying Strategic Alliances	378	(1)
Synergistic Strategic Alliances	379	(1)
Franchising	380	(1)
Assessment of Competitive Advantage for Corporate-Level Cooperative Strategies	381	(1)
International Cooperative Strategies	382	(2)
Strategic Intent of Partner	384	(1)
Network Cooperative Strategies	384	(4)
The Relationship between Partner Selection and Strategic Alliance Success	385	(2)
Alliance Networks: Benefits and Issues	387	(1)
Competitive Risks with Cooperative Strategies	388	(2)
Trust as a Strategic Asset	390	(1)
Strategic Approaches to Managing Alliances	391	(1)
Summary	392	(1)
Review Questions	393	(1)
Application Discussion Questions	394	(1)
Ethics Questions	394	(1)
Internet Exercise	394	(1)
Notes	395	(5)
PART 3 STRATEGIC ACTIONS: STRATEGY IMPLEMENTATION
Corporate Governance	400	(40)
Are CEOs Worth Their Weight in Gold?	401	(4)
Separation of Ownership and Managerial Control	405	(5)
Agency Relationships	406	(2)
Product Diversification as an Example of an Agency Problem	408	(2)
Agency Costs and Governance Mechanisms	410	(1)
Ownership Concentration	410	(6)
The Growing Influence of Institutional Owners	411	(1)
Shareholder Activism: How Much Is Possible?	412	(1)
Institutional Investors Carry a Big Stick	413	(3)
Boards of Directors	416	(3)
Enhancing the Effectiveness of the Board of Directors	418	(1)
Executive Compensation	419	(5)
The Top and Bottom of Boards of Directors	420	(2)
A Complicated Governance Mechanism	422	(1)
The Effectiveness of Executive Compensation	422	(2)
The Multidivisional Structure	424	(1)
Market for Corporate Control	425	(4)
Managerial Defense Tactics	426	(1)
Hostile Takeovers: The War between Corporations	427	(2)
International Corporate Governance	429	(3)
Corporate Governance in Germany	429	(1)
Corporate Governance in Japan	430	(1)
Global Corporate Governance	431	(1)
Governance Mechanisms and Ethical Behavior	432	(1)
Summary	433	(1)
Review Questions	434	(1)
Application Discussion Questions	434	(1)
Ethics Questions	435	(1)
Internet Exercise	435	(1)
Notes	435	(5)
Organizational Structure and Controls	440	(44)
The New Structure of Microsoft	441	(3)
Evolutionary Patterns of Strategy and Organizational Structure	444	(6)
Simple Structure	445	(2)
Functional Structure	447	(1)
Multidivisional Structure	447	(3)
Implementing Business-Level Strategies: Organizational Structure and Controls	450	(5)
Using the Functional Structure to Implement the Cost Leadership Strategy	450	(2)
Using the Functional Structure to Implement the Differentiation Strategy	452	(2)
Using the Functional Structure to Implement the Integrated Cost Leadership/Differentiation Strategy	454	(1)
Using the Simple Structure to Implement Focused Strategies	455	(1)
Movement to the Multidivisional Structure	455	(1)
Implementing Corporate-Level Strategies: Organizational Structure and Controls	455	(10)
Using the Cooperative Form to Implement the Related-Constrained Strategy	456	(2)
Using the Strategic-Business-Unit Form to Implement the Related-Linked Strategy	458	(1)
IBM Implements the Cooperative M-Form Structure, Facilitating E-commerce Services	459	(4)
Using the Competitive Form to Implement the Unrelated Diversification Strategy	463	(2)
The Effect of Structure on Strategy	465	(1)
Implementing International Strategies: Organizational Structure and Controls	466	(8)
Using the Worldwide Geographic Area Structure to Implement the Multidomestic Strategy	466	(2)
Using the Worldwide Product Divisional Structure to Implement the Global Strategy	468	(1)
Using the Combination Structure to Implement the Transnational Strategy	469	(1)
Procter & Gamble Restructures and Implements a Worldwide Product Divisional Structure	470	(1)
Ford Implements the Combination Structure	471	(3)
Implementing Cooperative Strategies: Organizational Structure and Controls	474	(5)
Implementing Business-Level Cooperative Strategies	475	(1)
Implementing Corporate-Level Cooperative Strategies	476	(1)
Implementing International Cooperative Strategies	477	(2)
Contemporary Organizational Structures: A Cautionary Note	479	(1)
Summary	479	(1)
Review Questions	480	(1)
Application Discussion Questions	480	(1)
Ethics Questions	481	(1)
Internet Exercise	481	(1)
Notes	481	(3)
Strategic Leadership	484	(36)
Strategic Leaders: The Good, the Bad, and the Ugly	485	(4)
Strategic Leadership	489	(1)
Managers as an Organizational Resource	490	(5)
Top Management Teams	492	(3)
Managerial Labor Market	495	(2)
Determining Strategic Direction	497	(4)
Shattering the Glass Ceiling: Women Top Executives	498	(3)
Exploiting and Maintaining Core Competencies	501	(1)
Developing Human Capital	501	(4)
Competitive Advantage Powered by Human Capital	503	(2)
Sustaining an Effective Organizational Culture	505	(3)
Entrepreneurial Orientation	505	(2)
Changing the Organizational Culture and Business Reengineering	507	(1)
Emphasizing Ethical Practices	508	(3)
Lies, Managed Earnings, and Conflicts of Interest-The Ethics of Strategic Leaders	510	(1)
Establishing Balanced Organizational Controls	511	(2)
Summary	513	(1)
Review Questions	514	(1)
Application Discussion Questions	514	(1)
Ethics Questions	515	(1)
Internet Exercise	515	(1)
Notes	515	(5)
Corporate Entrepreneurship and Innovation	520
Innovation, Competition, and Competitive Success in the Global Automobile Industry	521
Innovation, Entrepreneurship, Corporate Entrepreneurship, and Entrepreneurs	523
Innovation	525
Entrepreneurship	526
Surprise, Surprise, Surprise! What Might Be Tomorrow's Innovative Products, and What Will Be the Source of Their Development?	527
Corporate Entrepreneurship	528
Entrepreneurs	528
International Entrepreneurship	529
Internal Corporate Venturing	531
Autonomous Strategic Behavior	531
Induced Strategic Behavior	533
Product Innovations and Induced Strategic Behaviors: Personal Computers, Videogames, and Other Delights	533
Implementing Internal Corporate Ventures	534
Using Product Development Teams to Achieve Cross-Functional Integration	535
Appropriating (Gaining) Value from Innovation	537
Strategic Alliances: Cooperating to Produce and Manage Innovation	538
Acquisitions and Venture Capital: Buying Innovation	540
Acquisitions	540
Venture Capital	541
Entrepreneurship in Small Businesses and Entrepreneurial Ventures	542
Innovation as a Key Source of Value Creation	544
Producing More Innovation in Large Organizations	545
Summary	546
Review Questions	546
Application Discussion Questions	547
Ethics Questions	547
Internet Exercise	547
Notes	548
Name Index	I-1
Company Index	I-11
Subject Index	I-17
Photo Credits	I-24