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Strategic Management and Competitive Advantage : Concepts

by: Barney, Jay; Hesterly, William

Strategic Management and Competitive Advantage : Concepts

by: Barney, Jay; Hesterly, William

ISBN 13:
9780131547162
ISBN 10:
013154716X
Format: Paperback
Copyright: 01/01/2006
Publisher: Pearson College Div
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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.

Part 1: THE TOOLS OF STRATEGIC ANALYSIS

What Is Strategy and the Strategic Management Process?

(30)

Opening Case: What Has Napster Wrought?

(3)

Strategy and the Strategic Management Process

(7)

Defining Strategy

(1)

The Strategic Management Process

(7)

What Is Competitive Advantage?

(3)

Research Made Relevant: How Sustainable Are Competitive Advantages?

(1)

The Strategic Management Process, Revisited

(1)

Measuring Competitive Advantage

(1)

Accounting Measures of Competitive Advantage

(7)

Global Perspectives: Accounting Around the World

(3)

Economic Measures of Competitive Advantage

(2)

Strategy in Depth: Estimating a Firm's Weighted Average Cost of Capital

(1)

The Relationship Between Economic and Accounting Performance Measures

(1)

Emergent Versus Intended Strategies

(3)

Ethics and Strategy: Stockholders Versus Stakeholders

(2)

Why You Need to Know About Strategy

(7)

Strategy in the Emerging Enterprise: Emergent Strategies and Entrepreneurship

(1)

The Strategic Management Process in an International Context

(1)

Summary

(2)

Challenge Questions

(1)

Problem Set

(1)

End Notes

(1)

Evaluating a Firm's External Environment

(42)

Opening Case: Can TiVo Change the Way You Watch TV?

(2)

Understanding a Firm's General Environment

(5)

Global Perspectives: Pokemon Invades Louis Vuitton

(2)

The Structure-Conduct-Performance Model of Firm Performance

(2)

Ethics and Strategy: Is a Firm Gaining a Competitive Advantage Good for Society?

(1)

The Five Forces Model of Environmental Threats

(14)

Strategy in Depth: The S-C-P Model and the Five Forces Framework

(1)

The Threat of Entry

(5)

The Threat of Rivalry

(1)

The Threat of Substitutes

(1)

The Threat of Suppliers

(2)

The Threat of Buyers

(1)

The Five Forces Model and Average Industry Performance

(1)

Another Environmental Force: Complementors

(1)

Research Made Relevant: The Impact of Industry and Firm Characteristics on Firm Performance

(1)

Industry Structure and Environmental Opportunities

(9)

Opportunities in Fragmented Industries: Consolidation

(1)

Opportunities in Emerging Industries: First-Mover Advantages

(3)

Opportunities in Mature Industries: Product Refinement, Service, and Process Innovation

(1)

Strategy in the Emerging Enterprise: Microsoft Grows Up

(2)

Opportunities in Declining Industries: Leadership, Niche, Harvest, and Divestment

(2)

Threat and Opportunity Analysis in an International Context

(10)

Analysis of Environmental Threats in an International Context

(2)

Analysis of Opportunities in an International Context

(2)

Summary

(2)

Challenge Questions

(1)

Problem Set

(1)

End Notes

(3)

Evaluating a Firm's Internal Capabilities

(20)

Opening Case: Electronic Arts---They're in the Game

(2)

The Resource-Based View of the Firm

(2)

What Are Resources and Capabilities?

(1)

Critical Assumptions of the Resource-Based View

(1)

Strategy in Depth: Ricardian Economics and the Resource-Based View

(1)

The VRIO Framework

(16)

The Question of Value

(2)

Global Perspectives: Does It Pay to Be an American Beer in Europe?

(1)

Strategy in the Emerging Enterprise: Who Is Yahoo!?

(2)

Ethics and Strategy: Externalities and the Broader Consequences of Profit Maximization

(2)

The Question of Rarity

(1)

The Question of Imitability

(5)

Research Made Relevant: Strategic Human Resource Management Research

(1)

The Question of Organization

(1)

Applying the VRIO Framework

(20)

Applying the VRIO Framework to Dell Computer

(2)

Imitation and Competitive Dynamics in an Industry

(4)

Not Responding to Another Firm's Competitive Advantage

(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

Amazon no longer offers textbook rentals. We do!

Strategic Management and Competitive Advantage : Concepts

Strategic Management and Competitive Advantage : Concepts

9780131547162

013154716X

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Strategic Management and Competitive Advantage : Concepts

Strategic Management and Competitive Advantage : Concepts

9780131547162

013154716X

Summary

Table of Contents

Supplemental Materials

Write a Review

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