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Concepts in Strategic Management and Business Policy

ISBN: 9780131494619 | 0131494619
Edition: 10th
Format: Paperback
Publisher: Prentice Hall
Pub. Date: 1/1/2006

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SummaryTable of Contents
For undergraduate strategy/strategic management courses. Wheelen and Hunger takes a unique approach to helping students synthesize all of the factors of the strategic process through a student friendly Strategic Management Model.
... MORE
Prefacexix
PART ONE Introduction to Strategic Management and Business Policy
1(70)
Basic Concepts in Strategic Management
1(33)
The Study of Strategic Management
3(3)
Phases of Strategic Management
3(2)
Benefits of Strategic Management
5(1)
Globalization and Electronic Commerce: Challenges to Strategic Management
6(2)
Impact of Globalization
6(1)
Global Issue: Regional Trade Associations Replace National Trade Barriers
7(1)
Electronic Commerce
7(1)
Theories of Organizational Adaptation
8(1)
Creating a Learning Organization
9(1)
Basic Model of Strategic Management
10(8)
Environmental Scanning
10(2)
Strategy Formulation
12(1)
Strategy Highlight 1.1: Do You Have a Good Mission Statement?
13(3)
Strategy Implementation
16(1)
Evaluation and Control
17(1)
Feedback/Learning Process
18(1)
Initiation of Strategy: Triggering Events
18(2)
Strategy Highlight 1.2: Triggering Event at Sun Microsystems
19(1)
Strategic Decision Making
20(3)
What Makes a Decision Strategic?
20(1)
Mintzberg's Modes of Strategic Decision Making
20(1)
Strategic Decision-Making Process: Aid to Better Decisions
21(2)
The Strategic Audit: Aid to Strategic Decision Making
23(1)
Conclusion
24(10)
Appendix 1.A Strategic Audit of a Corporation
26(8)
Corporate Governance
34(21)
Role of the Board of Directors
36(12)
Responsibilities of the Board
36(3)
Members of a Board of Directors
39(2)
Strategy Highlight 2.1: Agency Theory Versus Stewardship Theory in Corporate Governance
41(1)
Global Issue: POSCO Adds an International Director
42(2)
Nomination and Election of Board Members
44(1)
Organization of the Board
44(2)
Impact of the Sarbanes-Oxley Act on U.S. Corporate Governance
46(1)
Trends in Corporate Governance
47(1)
The Role of Top Management
48(4)
Responsibilities of Top Management
48(3)
Strategy Highlight 2.2: CEO Hubris at Disney?
51(1)
Conclusion
52(3)
Ethics and Social Responsibility in Strategic Management
55(16)
Social Responsibilities of Strategic Decision Makers
56(5)
Responsibilities of a Business Firm
57(2)
Corporate Stakeholders
59(2)
Ethical Decision Making
61(7)
Strategy Highlight 3.1: The Johnson & Johnson Credo
62(1)
Some Reasons for Unethical Behavior
62(1)
Strategy Highlight 3.2: Unethical Practices at Enron and WorldCom Exposed by Whistle-Blowers
63(1)
Global Issue: How Rule-Based and Relationship-Based Governance Systems Affect Ethical Behavior
64(2)
Encouraging Ethical Behavior
66(2)
Conclusion
68(3)
Part Ending Video Case: Newbury Comics, Inc.
70(1)
PART TWO Scanning the Environment
71(66)
Environmental Scanning and Industry Analysis
71(33)
Environmental Scanning
73(9)
Identifying External Environmental Variables
73(6)
Global Issue: Identifying Potential Markets in Developing Nations
79(2)
Identifying External Strategic Factors
81(1)
Industry Analysis: Analyzing the Task Environment
82(10)
Porter's Approach to Industry Analysis
82(4)
Industry Evolution
86(1)
Categorizing International Industries
87(1)
International Risk Assessment
87(1)
Strategic Groups
88(1)
Strategic Types
88(1)
Hypercompetition
89(1)
Strategy Highlight 4.1: Microsoft in a Hypercompetitive Industry
90(1)
Using Key Success Factors to Create an Industry Matrix
91(1)
Competitive Intelligence
92(3)
Sources of Competitive Intelligence
93(1)
Strategy Highlight 4.2: Evaluating Competitive Intelligence
94(1)
Monitoring Competitors for Strategic Planning
94(1)
Forecasting
95(2)
Danger of Assumptions
95(1)
Using Forecasting Techniques
96(1)
The Strategic Audit: A Checklist for Environmental Scanning
97(1)
Synthesis of External Factors---EFAS
97(2)
Conclusion
99(5)
Appendix 4.A Competitive Analysis Techniques
101(3)
Internal Scanning: Organizational Analysis
104(33)
A Resource-Based Approach to Organizational Analysis
106(4)
Core and Distinctive Competencies
106(1)
Using Resources to Gain Competitive Advantage
107(1)
Determining the Sustainability of an Advantage
108(2)
Business Models
110(1)
Value-Chain Analysis
111(3)
Industry Value-Chain Analysis
112(1)
Corporate Value-Chain Analysis
113(1)
Scanning Functional Resources and Capabilities
114(15)
Basic Organizational Structures
114(2)
Corporate Culture: The Company Way
116(1)
Global Issue: Managing Corporate Culture for Global Competitive Advantage: ABB Versus Matsushita
117(1)
Strategic Marketing Issues
117(2)
Strategic Financial Issues
119(1)
Strategic Research and Development (R&D) Issues
120(1)
Strategy Highlight 5.1: A Problem of Technology Transfer at Xerox Corporation
121(2)
Strategic Operations Issues
123(2)
Strategic Human Resource Management (HRM) Issues
125(2)
Strategic Information Systems/Technology Issues
127(2)
The Strategic Audit: A Checklist for Organizational Analysis
129(1)
Synthesis of Internal Factors
129(2)
Conclusion
131(6)
Part Ending Video Case: Newbury Comics, Inc.
134(3)
PART THREE Strategy Formulation
137(76)
Strategy Formulation: Situation Analysis and Business Strategy
137(26)
Situational Analysis: SWOT Analysis
138(5)
Generating a Strategic Factors Analysis Summary (SFAS) Matrix
139(3)
Finding a Propitious Niche
142(1)
Global Issue: SAB Defends Its Propitious Niche
143(1)
Review of Mission and Objectives
143(1)
Generating Alternative Strategies by Using a TOWS Matrix
144(1)
Business Strategies
145(16)
Porter's Competitive Strategies
145(4)
Strategy Highlight 6.1: Grim Reaper Uses Focused Differentiation Strategy
149(7)
Cooperative Strategies
156(5)
Conclusion
161(2)
Strategy Formulation: Corporate Strategy
163(25)
Corporate Strategy
164(1)
Directional Strategy
165(14)
Growth Strategies
165(3)
Strategy Highlight 7.1: Transaction Cost Economics Analyzes Vertical Growth Strategy
168(3)
Strategy Highlight 7.2: Screening Criteria for Concentric Diversification
171(1)
International Entry Options
171(1)
Global Issue: Wal-Mart Looks to International Markets for Growth
172(2)
Controversies in Directional Growth Strategies
174(1)
Stability Strategies
175(1)
Retrenchment Strategies
176(1)
Strategy Highlight 7.3: Turnaround Strategy at IBM
177(2)
Portfolio Analysis
179(4)
BCG Growth-Share Matrix
179(2)
GE Business Screen
181(1)
Advantages and Limitations of Portfolio Analysis
182(1)
Corporate Parenting
183(2)
Developing a Corporate Parenting Strategy
184(1)
Horizontal Strategy and Multipoint Competition
185(1)
Conclusion
185(3)
Strategy Formulation: Functional Strategy and Strategic Choice
188(25)
Functional Strategy
189(9)
Marketing Strategy
190(1)
Financial Strategy
191(1)
Research and Development (R&D) Strategy
192(1)
Operations Strategy
193(1)
Global Issue: International Differences Alter Whirlpool's Operations Strategy
194(1)
Purchasing Strategy
195(1)
Logistics Strategy
196(1)
Strategy Highlight 8.1: Staples Uses Internet to Replenish Inventory from 3M
197(1)
Human Resource Management (HRM) Strategy
197(1)
Information Technology Strategy
198(1)
The Sourcing Decision: Location of Functions
198(3)
Strategies to Avoid
201(1)
Strategic Choice: Selecting of the Best Strategy
201(7)
Constructing Corporate Scenarios
202(5)
Process of Strategic Choice
207(1)
Developing Policies
208(1)
Conclusion
209(4)
Part Ending Video Case: Newbury Comics, Inc.
212(1)
PART FOUR Strategy Implementation and Control
213(78)
Strategy Implementation: Organizing for Action
213(25)
Strategy Implementation
214(1)
Who Implements Strategy?
215(1)
What Must Be Done?
216(3)
Developing Programs, Budgets, and Procedures
216(2)
Achieving Synergy
218(1)
How Is Strategy to Be Implemented? Organizing for Action
219(13)
Structure Follows Strategy
219(1)
Stages of Corporate Development
220(4)
Strategy Highlight 9.1: The Founder of the Modem Blocks Transition to Stage II
224(1)
Organizational Life Cycle
224(2)
Advanced Types of Organizational Structures
226(3)
Reengineering and Strategy Implementation
229(1)
Six Sigma
230(1)
Designing Jobs to Implement Strategy
231(1)
Strategy Highlight 9.2: Designing Jobs with the Job Characteristics Model
232(1)
International Issues in Strategy Implementation
232(4)
Global Issue: Multiple Headquarters: A Sixth Stage of International Development?
234(2)
Conclusion
236(2)
Strategy Implementation: Staffing and Directing
238(23)
Staffing
240(8)
Staffing Follows Strategy
240(3)
Selection and Management Development
243(1)
Strategy Highlight 10.1: How Hewlett-Packard Identifies Potential Executives
244(1)
Problems in Retrenchment
245(1)
International Issues in Staffing
246(2)
Leading
248(10)
Managing Corporate Culture
248(4)
Strategy Highlight 10.2: Admiral Assimilates Maytag's Culture
252(1)
Action Planning
253(1)
Management By Objectives
254(1)
Total Quality Management
255(1)
International Considerations in Leading
256(2)
Global Issue: Cultural Differences Create Implementation Problems in Merger
258(1)
Conclusion
258(3)
Evaluation and Control
261(30)
Evaluation and Control in Strategic Management
263(1)
Measuring Performance
263(15)
Appropriate Measures
263(2)
Types of Controls
265(1)
Activity-Based Costing
266(1)
Enterprise Risk Management
267(1)
Primary Measures of Corporate Performance
267(2)
Strategy Highlight 11.1: Eyeballs and MUUs: Questionable Performance Measures
269(4)
Primary Measures of Divisional and Functional Performance
273(3)
International Measurement Issues
276(1)
Global Issue: Piracy: 15%-20% of China's Goods Are Counterfeit
277(1)
Strategic Information Systems
278(1)
Enterprise Resource Planning (ERP)
278(1)
Divisional and Functional IS Support
279(1)
Problems in Measuring Performance
279(3)
Short-Term Orientation
279(1)
Goal Displacement
280(2)
Guidelines for Proper Control
282(1)
Strategy Highlight 11.2: Some Rules of Thumb in Strategy
282(1)
Strategic Incentive Management
283(2)
Conclusion
285(6)
Part Ending Video Case: Newbury Comics, Inc.
288(3)
PART FIVE Other Strategic Issues
291(62)
Strategic Issues in Managing Technology and Innovation
291(25)
The Role of Management
293(2)
Strategy Highlight 12.1: Examples of Innovation Emphasis in Mission Statements
294(1)
Environmental Scanning
295(4)
External Scanning
295(3)
Internal Scanning
298(1)
Strategy Formulation
299(6)
Product Versus Process R&D
299(1)
Technology Sourcing
300(2)
Importance of Technological Competence
302(1)
Global Issue: Use of Intellectual Property at Huawei Technologies
302(1)
Categories of Innovation
303(2)
Product Portfolio
305(1)
Strategy Implementation
305(4)
Developing an Innovative Entrepreneurial Culture
305(1)
Organizing for Innovation: Corporate Entrepreneurship
306(3)
Strategy Highlight 12.2: How Not to Develop an Innovative Organization
309(1)
Evaluation and Control
309(3)
Evaluation and Control Techniques
309(2)
Evaluation and Control Measures
311(1)
Conclusion
312(4)
Strategic Issues in Entrepreneurial Ventures and Small Businesses
316(22)
Importance of Small Business and Entrepreneurial Ventures
317(2)
Global Issue: Entrepreneurship: Some Countries Are More Supportive Than Others
318(1)
Definition of Small-Business Firms and Entrepreneurial Ventures
319(1)
The Entrepreneur as a Strategist
319(1)
Use of Strategic Planning and Strategic Management
319(5)
Degree of Formality
320(1)
Usefulness of the Strategic Management Model
320(1)
Usefulness of the Strategic Decision-Making Process
320(4)
Issues in Corporate Governance
324(1)
Boards of Directors and Advisory Boards
324(1)
Impact of the Sarbanes-Oxley Act
324(1)
Issues in Environmental Scanning and Strategy Formulation
325(5)
Sources of Innovation
326(1)
Factors Affecting a New Venture's Success
327(2)
Strategy Highlight 13.1: Suggestions for Locating an Opportunity and Formulating a Business Strategy
329(1)
Issues in Strategy Implementation
330(4)
Substages of Small Business Development
330(2)
Transfer of Power and Wealth in Family Businesses
332(2)
Issues in Evaluation and Control
334(1)
Conclusion
335(3)
Strategic Issues in Not-For-Profit Organizations
338(15)
Why Not-For-Profit?
340(1)
Global Issue: Which Is Best for Society: Business or Not-For-Profit?
341(1)
Importance of Revenue Source
341(3)
Sources of Not-For-Profit Revenue
342(1)
Patterns of Influence on Strategic Decision Making
343(1)
Usefulness of Strategic Management Concepts and Techniques
343(1)
Impact of Constraints on Strategic Management
344(3)
Impact on Strategy Formulation
345(1)
Impact of Strategy Implementation
346(1)
Impact on Evaluation and Control
346(1)
Not-for-Profit Strategies
347(3)
Strategic Piggybacking
348(1)
Strategy Highlight 14.1: Resources Needed for Successful Strategic Piggybacking
349(1)
Mergers
349(1)
Strategic Alliances
349(1)
Conclusion
350(3)
PART SIX Introduction to Case Analysis
353(23)
Suggestions for Case Analysis
353(23)
The Case Method
355(1)
Researching the Case Situation
355(1)
Financial Analysis: A Place to Begin
356(5)
Analyzing Financial Statements
356(3)
Global Issue: Financial Statements of Multinational Corporations: Not Always What They Seem
359(1)
Common-Size Statements
359(1)
Z-Value, Index of Sustainable Growth, and Free Cash Flow
360(1)
Useful Economic Measures
360(1)
Format for Case Analysis: The Strategic Audit
361(2)
Conclusion
363(13)
Appendix 15.A Resources for Case Research
365(3)
Appendix 15.B Suggested Case Analysis Methodology Using the Strategic Audit
368(3)
Appendix 15.C Example of a Student-Written Strategic Audit
371(5)
Endnotes376
Glossary1(1)
Name Index1(16)
Subject Index17

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