Crafting and Executing Strategy: Concepts ISE

Name: Crafting and Executing Strategy: Concepts ISE
Price: 5150 ISK
Availability: InStock
Author: Arthur Thompson; Margaret Peteraf; John Gamble; A. Strickland
ISBN: 9781264594412

Höfundar: Arthur Thompson; Margaret Peteraf; John Gamble; A. Strickland (Útgáfa: 24)

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Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts 2024 Release hefur um árabil verið talin ein kennsluvænasta bókin á sínu sviði og er viðmiðið sem aðrar bækur eru bornar saman við. Hún er áhugaverð, skýrt fram sett og veitir yfirvegaða umfjöllun um nýjustu þróun í kenningum og framkvæmd, þar á meðal sérstaklega skýra framsetningu á virðis-, verð- og kostnaðarrammanum.

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Útgefandi: McGraw-Hill Higher Education (International)

ISBN: 9781264594412

Print ISBN: 9781266849794

Format: ePub

Útgáfa: 24

Höfundar: Arthur Thompson; Margaret Peteraf; John Gamble; A. Strickland

Tungumál: English

Útgefið: 2024-06-03

Prent takmörkun á líftíma: 100

Prent takmörkun: 2

Afritunar takmörkun: 2

Flokkar: Viðskiptafræði

Efnisflokkar: Viðskipti og hagfræði › Stjórnun

Kaflar

Table of Contents and Preface
Half Title Page
Title Page
Copyright Page
Dedication
About the Authors
Preface
DIFFERENTIATING FEATURES OF THE 2024 RELEASE
WHAT IS NEW IN THE 2024 RELEASE?
THE TWO STRATEGY SIMULATION SUPPLEMENTS: THE BUSINESS STRATEGY GAME AND GLO-BUS
RESOURCES AND SUPPORT MATERIALS FOR THE 2024 RELEASE
FOR INSTRUCTORS
ACKNOWLEDGMENTS
The Business Strategy Game or GLO-BUS Simulation Exercises
Connect Features
Brief Contents
Contents
Part 1: Concepts and Techniques for Crafting and Executing Strategy
Introduction
Chapter 1: What Is Strategy and Why Is It Important?
Introduction
What Do We Mean By Strategy?
Strategy Is about Competing Differently
Strategy and the Quest for Competitive Advantage
Why a Company’s Strategy Evolves over Time
A Company’s Strategy Is Partly Proactive and Partly Reactive
Strategy and Ethics: Passing the Test of Moral Scrutiny
A Company’s Strategy and Its Business Model
What Makes a Strategy a Winner?
Why Crafting and Executing Strategy are Important Tasks
Good Strategy + Good Strategy Execution = Good Management
The Road Ahead
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 2: Charting a Company’s Direction
Introduction
What Does the Strategy-Making, Strategy-Executing Process Entail?
Stage 1: Developing a Strategic Vision, Mission Statement, and Set of Core Values
Developing a Strategic Vision
Communicating the Strategic Vision
Developing a Company Mission Statement
Linking the Vision and Mission with Company Values
Stage 2: Setting Objectives
Setting Stretch Objectives
What Kinds of Objectives to Set
The Need for a Balanced Approach to Objective Setting
Setting Objectives for Every Organizational Level
Stage 3: Crafting a Strategy
Strategy Making Involves Managers at All Organizational Levels
A Company’s Strategy-Making Hierarchy
Uniting the Strategy-Making Hierarchy
A Strategic Vision + Mission + Objectives + Strategy = A Strategic Plan
Stage 4: Executing the Strategy
Stage 5: Evaluating Performance and Initiating Corrective Adjustments
Corporate Governance: the Role of the Board of Directors in the Strategy-Crafting, Strategy-Executing Process
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 3: Evaluating a Company’s External Environment
Introduction
Assessing the Company’s Industry and Competitive Environment
Analyzing the Company’s Macro-Environment
Assessing the Company’s Industry and Competitive Environment
The Five Forces Framework
Competitive Pressures Created by the Rivalry among Competing Sellers
The Choice of Competitive Weapons
Competitive Pressures Associated with the Threat of New Entrants
Competitive Pressures from the Sellers of Substitute Products
Competitive Pressures Stemming from Supplier Bargaining Power
Competitive Pressures Stemming from Buyer Bargaining Power and Price Sensitivity
Is the Collective Strength of the Five Competitive Forces Conducive to Good Profitability?
Matching Company Strategy to Competitive Conditions
Complementors and the Value Net
Industry Dynamics and the Forces Driving Change
Identifying the Forces Driving Industry Change
Assessing the Impact of the Forces Driving Industry Change
Adjusting the Strategy to Prepare for the Impacts of Driving Forces
Strategic Group Analysis
Using Strategic Group Maps to Assess the Market Positions of Key Competitors
The Value of Strategic Group Maps
Competitor Analysis and the Soar Framework
Current Strategy
Key Success Factors
The Industry Outlook for Profitability
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 4: Evaluating a Company’s Resources, Capabilities, and Competitiveness
Introduction
Question 1: How Well is the Company’s Present Strategy Working?
Question 2: What are the Company’s Strengths and Weaknesses in Relation to the Market Opportunities and External Threats?
Identifying a Company’s Internal Strengths
Identifying Company Internal Weaknesses
Identifying a Company’s Market Opportunities
Identifying External Threats
What Do the SWOT Listings Reveal?
Question 3: What are the Company’s Most Important Resources and Capabilities, and Will They Give the Company a Lasting Competitive Advantage?
Identifying the Company’s Resources and Capabilities
Assessing the Competitive Power of a Company’s Resources and Capabilities
Question 4: How do Value Chain Activities Impact a Company’s Cost Structure and Customer Value Proposition?
The Concept of a Company Value Chain
The Value Chain System for an Entire Industry
Benchmarking: A Tool for Assessing the Costs and Effectiveness of Value Chain Activities
Strategic Options for Remedying a Cost or Value Disadvantage
Translating Proficient Performance of Value Chain Activities into Competitive Advantage
Question 5: Is the Company Competitively Stronger or Weaker than Key Rivals?
Strategic Implications of Competitive Strength Assessments
Question 6: What Strategic Issues and Problems Merit Front-Burner Managerial Attention?
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 5: The Five Generic Competitive Strategies
Introduction
Types of Generic Competitive Strategies
Broad Low-Cost Strategies
The Two Major Avenues for Achieving a Cost Advantage
The Keys to a Successful Broad Low-Cost Strategy
When a Low-Cost Strategy Works Best
Pitfalls to Avoid in Pursuing a Low-Cost Strategy
Broad Differentiation Strategies
Managing the Value Chain in Ways That Enhance Differentiation
Delivering Superior Value via a Broad Differentiation Strategy
When a Differentiation Strategy Works Best
Pitfalls to Avoid in Pursuing a Differentiation Strategy
Focused (Or Market Niche) Strategies
A Focused Low-Cost Strategy
A Focused Differentiation Strategy
When a Focused Low-Cost or Focused Differentiation Strategy Is Attractive
The Risks of a Focused Low-Cost or Focused Differentiation Strategy
Best-Cost (Hybrid) Strategies
When a Best-Cost Strategy Works Best
The Risk of a Best-Cost Strategy
The Contrasting Features of the Generic Competitive Strategies
Successful Generic Strategies Are Resource-Based
Generic Strategies and the Three Different Approaches to Competitive Advantage
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 6: Strengthening a Company’s Competitive Position
Introduction
Launching Strategic Offensives to Improve a Company’s Market Position
Choosing the Basis for Competitive Attack
Choosing Which Rivals to Attack
Blue-Ocean Strategy—a Special Kind of Offensive
Defensive Strategies—Protecting Market Position and Competitive Advantage
Blocking the Avenues Open to Challengers
Signaling Challengers That Retaliation Is Likely
Timing A Company’s Strategic Moves
The Potential for First-Mover Advantages
The Potential for Late-Mover Advantages or First-Mover Disadvantages
To Be a First Mover or Not
Strengthening A Company’s Market Position Via Its Scope of Operations
Horizontal Merger and Acquisition Strategies
Why Mergers and Acquisitions Sometimes Fail to Produce Anticipated Results
Vertical Integration Strategies
The Advantages of a Vertical Integration Strategy
The Disadvantages of a Vertical Integration Strategy
Weighing the Pros and Cons of Vertical Integration
Outsourcing Strategies: Narrowing the Scope of Operations
The Risk of Outsourcing Value Chain Activities
Strategic Alliances and Partnerships
Capturing the Benefits of Strategic Alliances
The Drawbacks of Strategic Alliances and Their Relative Advantages
How to Make Strategic Alliances Work
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 7: Strategies for Competing in International Markets
Introduction
Why Companies Decide to Enter Foreign Markets
Why Competing Across National Borders Makes Strategy Making More Complex
Home-Country Industry Advantages and the Diamond Model
Opportunities for Location-Based Advantages
The Impact of Government Policies and Economic Conditions in Host Countries
The Risks of Adverse Exchange Rate Shifts
Cross-Country Differences in Demographic, Cultural, and Market Conditions
Strategic Options for Entering International Markets
Export Strategies
Licensing Strategies
Franchising Strategies
Foreign Subsidiary Strategies
Alliance and Joint Venture Strategies
International Strategy: The Three Main Approaches
Multidomestic Strategies—A “Think-Local, Act-Local” Approach
Global Strategies—A “Think-Global, Act-Global” Approach
Transnational Strategies—A “Think-Global, Act-Local” Approach
International Operations and the Quest for Competitive Advantage
Using Location to Build Competitive Advantage
Sharing and Transferring Resources and Capabilities across Borders to Build Competitive Advantage
Benefiting from Cross-Border Coordination
Cross-Border Strategic Moves
Waging a Strategic Offensive
Defending against International Rivals
Strategies for Competing in the Markets of Developing Countries
Strategy Options for Competing in Developing-Country Markets
Defending Against Global Giants: Strategies for Local Companies in Developing Countries
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 8: Corporate Strategy
Introduction
What Does Crafting a Diversification Strategy Entail?
When to Consider Diversifying
Building Shareholder Value: The Ultimate Justification for Diversifying
Approaches to Diversifying the Business Lineup
Diversifying by Acquisition of an Existing Business
Entering a New Line of Business through Internal Development
Using Joint Ventures to Achieve Diversification
Choosing a Mode of Entry
Choosing the Diversification Path: Related Versus Unrelated Businesses
Diversification Into Related Businesses
Identifying Cross-Business Strategic Fit along the Value Chain
Strategic Fit, Economies of Scope, and Competitive Advantage
Diversification Into Unrelated Businesses
Building Shareholder Value via Unrelated Diversification
The Path to Greater Shareholder Value through Unrelated Diversification
The Drawbacks of Unrelated Diversification
Misguided Reasons for Pursuing Unrelated Diversification
Combination Related–Unrelated Diversification Strategies
Evaluating the Strategy of a Diversified Company
Step 1: Evaluating Industry Attractiveness
Step 2: Evaluating Business Unit Competitive Strength
Step 3: Determining the Competitive Value of Strategic Fit in Diversified Companies
Step 4: Checking for Good Resource Fit
Step 5: Ranking Business Units and Assigning a Priority for Resource Allocation
Step 6: Crafting New Strategic Moves to Improve Overall Corporate Performance
Key Points
Assurance of Learning Exercises
Bloomin’ Brands
L’Oréal
Johnson & Johnson
Exercises for Simulation Participants
Endnotes
Chapter 9: Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy
Introduction
What do We Mean by Business Ethics?
Where do Ethical Standards Come From—Are They Universal or Dependent on Local Norms?
The School of Ethical Universalism
The School of Ethical Relativism
Ethics and Integrative Social Contracts Theory
How and Why Ethical Standards Impact the Tasks of Crafting and Executing Strategy
Drivers of Unethical Business Strategies and Behavior
Faulty Oversight, Enabling the Unscrupulous Pursuit of Personal Gain and Self-Interest
Heavy Pressures on Company Managers to Meet Short-Term Performance Targets
A Company Culture That Puts Profitability and Business Performance Ahead of Ethical Behavior
Why Should Company Strategies Be Ethical?
The Moral Case for an Ethical Strategy
The Business Case for Ethical Strategies
Strategy, Corporate Social Responsibility, and Environmental Sustainability
The Concepts of Corporate Social Responsibility and Good Corporate Citizenship
What Do We Mean by Sustainability and Sustainable Business Practices?
Crafting Corporate Social Responsibility and Sustainability Strategies
The Moral Case for Corporate Social Responsibility and Environmentally Sustainable Business Practices
The Business Case for Corporate Social Responsibility and Environmentally Sustainable Business Practices
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 10: Building an Organization Capable of Good Strategy Execution
Introduction
A Framework for Executing Strategy
The Principal Components of the Strategy Execution Process
Building an Organization Capable of Good Strategy Execution: Three Key Actions
Staffing the Organization
Putting Together a Strong Management Team
Recruiting, Training, and Retaining Capable Employees
Developing and Building Critical Resources and Organizational Capabilities
Three Approaches to Building and Strengthening Organizational Capabilities
The Strategic Role of Employee Training
Strategy Execution Capabilities and Competitive Advantage
Matching Organizational Structure to the Strategy
Deciding Which Value Chain Activities to Perform Internally and Which to Outsource
Aligning the Firm’s Organizational Structure with Its Strategy
Determining How Much Authority to Delegate
Providing for Internal Cross-Unit Coordination
Facilitating Collaboration with External Partners and Strategic Allies
Further Perspectives on Structuring the Work Effort
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 11: Managing Internal Operations
Introduction
Allocating Resources to the Strategy Execution Effort
Instituting Policies and Procedures That Facilitate Strategy Execution
Employing Business Process Management Tools
Promoting Operating Excellence: Three Powerful Business Process Management Tools
Capturing the Benefits of Initiatives to Improve Operations
Installing Information and Operating Systems
Instituting Adequate Information Systems, Performance Tracking, and Controls
Using Rewards and Incentives to Promote Better Strategy Execution
Incentives and Motivational Practices That Facilitate Good Strategy Execution
Striking the Right Balance between Rewards and Punishment
Linking Rewards to Achieving the Right Outcomes
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Chapter 12: Corporate Culture and Leadership
Introduction
Instilling a Corporate Culture Conducive to Good Strategy Execution
Identifying the Key Features of a Company’s Corporate Culture
Strong versus Weak Cultures
Why Corporate Cultures Matter to the Strategy Execution Process
Healthy Cultures That Aid Good Strategy Execution
Unhealthy Cultures That Impede Good Strategy Execution
Changing a Problem Culture
Leading the Strategy Execution Process
Staying on Top of How Well Things Are Going
Mobilizing the Effort for Excellence in Strategy Execution
Leading the Process of Making Corrective Adjustments
A Final Word on Leading the Process of Crafting and Executing Strategy
Key Points
Assurance of Learning Exercises
Exercises for Simulation Participants
Endnotes
Indexes
Company Index
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
Name Index
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
Y
Z
Subject Index
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
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