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Strategic Management: Concepts and Cases

ISBN: 9780131453531 | 013145353X
Edition: 2nd
Format: Hardcover
Publisher: Prentice Hall
Pub. Date: 1/1/2009

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SummaryTable of Contents
Key Benefit-Carpenter/Sanders is the first book built around a dynamic perspective on strategy Key Topics-Three themes constitute the dynamic perspective on strategy: (1) changing strategies for changing times, (2) the integration of formulation and implementation, and (3) strategic leadership. Crafting Business Strategy for Dynamic Contexts- chapter 6 is the aggregate of much of the current research on dynamic strategies, including: Competitive Dynamics, Technological Changes, and Hypercompetition . After reading the chapter, students will lea... MORE
PART ONE STRATEGY AND STRATEGIC LEADERSHIP IN DYNAMIC TIMES
Introducing Strategic Management
2(24)
Three Overarching Themes
... MORE6(1)
What Is Strategic Management?
7(3)
The Strategic Leader's Perspective
7(1)
Why Study Strategy?
8(1)
What Is Strategy?
8(1)
Business Strategy Versus Corporate Strategy
8(2)
Strategy Formulation and Implementation
10(6)
Strategy Formulation
10(5)
Strategy Implementation Levers
15(1)
How Would You Do That? 1.1
The Five Elements of Strategy at JetBlue
16(3)
Strategic Leadership
19(1)
What Is Competitive Advantage?
19(3)
Determinants of Competitive Advantage
19(1)
Fundamental Versus Dynamic Perspectives
20(2)
Summary
22(1)
Key Terms
23(1)
Review Questions
23(1)
How Would You Do That?
23(1)
Group Activities
23(1)
Endnotes
24(2)
Leading Strategically Through Effective Vision and Mission
26(34)
Strategic Leadership
29(10)
What This Chapter Is About
29(1)
The Roles Leaders Fill
29(3)
The Skill Set of the Effective Strategic Leader: The Level5 Hierarchy
32(1)
What Does It Take to Be a CEO?
33(3)
What Makes an Effective Executive Team?
36(3)
The Imprint of Strategic Leadership: Vision and Mission
39(1)
Defining Vision and Mission
39(1)
How Would You Do That? 2.1
The Strategy for Finding the Right CEO
40(4)
What Should Vision and Mission Statements Encompass?
42(1)
Why Vision and Mission Statements Are Not Substitutes for Strategy
42(1)
Goals and Objectives
43(1)
Strategic Purpose and Strategic Coherence
44(2)
Strategic Purpose
44(1)
Strategic Coherence
45(1)
Stakeholders and Stakeholder Analysis
46(3)
Stakeholders and Strategy
47(1)
Identifying Stakeholders
47(2)
Ethics, Biases, and Strategic Decision Making
49(1)
How Would You Do That? 2.2
Driving Stakeholder Analysis at Tritec Motors
50(7)
Ethics and Strategy
52(1)
Threats to Rational Strategic Decision Making
53(4)
Summary
57(1)
Key Terms
57(1)
Review Questions
57(1)
How Would You Do That?
58(1)
Group Activities
58(1)
Endnotes
58(2)
PART TWO THE INTERNAL AND EXTERNAL ENVIRONMENT OF STRATEGY
Examining the Internal Environment: Resources, Capabilities, and Activities
60(26)
Internal Drivers of Strategy and Competitive Advantage
63(3)
Models of Competitive Advantage
64(1)
Management
64(2)
Resources and Capabilities
66(8)
Resources
66(1)
Capabilities
67(1)
The VRINE Model
68(6)
Dynamic Capabilities
74(1)
Resources as Stocks and Flows
74(1)
How Would You Do That? 3.1
How Do Drug Patents Stand Up to VRINE?
75(2)
Rebundling Resources and Capabilities
76(1)
The Value Chain
77(3)
Tradeoff Protection
78(2)
Outsourcing and the Value Chain
80(1)
Strategic Leadership: Linking Resources and Capabilities to Strategy
80(3)
Senior Managers
81(1)
Middle Managers
81(2)
Summary
83(1)
Key Terms
84(1)
Review Questions
84(1)
How Would You Do That?
84(1)
Group Activities
84(1)
Endnotes
84(2)
Exploring the External Environment: Macro and Industry Dynamics
86(36)
The External Context of Strategy
89(2)
Industry- and Firm-Specific Factors
89(1)
Fundamental Characteristics of the External Context
90(1)
Key Questions
91(1)
Macro Environment
91(4)
Pestel Analysis
91(3)
Globalization
94(1)
Industry Analysis
95(11)
I/O Economics and Key Success Factors
96(1)
What Is an Industry?
97(1)
A Model of Industry Structure
98(7)
Strategic Group and Competitor Analysis
105(1)
How Would You Do That? 4.1
A Five-Forces---Plus Complementors---Analysis of the U.S. Airline Industry
106(3)
Dynamic Characteristics of the External Context
109(6)
Drivers of Change: Making the Five-Forces Model Dynamic
110(4)
When Industries Divide
114(1)
When Industries Collide
115(1)
Using Scenarios to Predict the Future
115(3)
Scenario Planning
116(2)
How Would You Do That? 4.2
Develop Scenarios for Credit Unions
118(1)
Summary
119(1)
Key Terms
119(1)
Review Questions
120(1)
How Would You Do That?
120(1)
Group Activities
120(1)
Endnotes
120(2)
PART THREE BUSINESS, CORPORATE, AND GLOBAL STRATEGIES
Creating Business Strategies
122(28)
An Introduction to Business Strategies
125(1)
Types of Strategies---Finding a Position That Works
126(6)
Strategic Positioning and the Generic Strategy Model
126(1)
Generic Strategies
126(6)
Economic Drivers of Strategic Positioning
132(4)
Drivers of Low-Cost Advantage
132(4)
How Would You Do That? 5.1
How to Take the Learning Curve on Two Wheels
136(3)
Threats to Successful Competitive Positioning
139(2)
Threats to Low-Cost Positions
139(1)
Threats to Differentiation Positions
140(1)
Threats to Focus Positions
141(1)
Threats to Integrated Positions
141(1)
Strategy and Fit with Industry Conditions
141(4)
Strategies for Different Industry Conditions
142(3)
Testing the Quality of a Strategy
145(2)
Does Your Strategy Exploit Your Firm's Resources and Capabilities?
145(1)
Does Your Strategy Fit with Current Industry Conditions?
145(1)
Are Your Differentiators Sustainable?
146(1)
Are the Elements of Your Strategy Consistent and Aligned with Your Strategic Position?
147(1)
Can Your Strategy Be Implemented?
147(1)
Summary
147(1)
Key Terms
148(1)
Review Questions
148(1)
How Would You Do That?
149(1)
Group Activities
149(1)
Endnotes
149(1)
Crafting Business Strategy for Dynamic Contexts
150(34)
Strategy and Dynamic Contexts
153(1)
The Challenges to Sustainable Competitive Advantage
153(2)
Competitive Interaction
154(1)
Industry Evolution
154(1)
Technological Change
154(1)
Speed of Change
154(1)
Business Strategy and Competitive Interaction
155(8)
Strategy and Strategic Positioning in the Face of Competition
155(2)
Competitive Dynamics and the Positioning of Incumbents
157(2)
The Pitfalls of the Retaliatory Mindset
159(1)
First Movers, Second Movers, and Fast Followers
160(3)
Strategies for Managing Industry Evolution
163(3)
The Pressures of Commoditization
163(3)
Strategies for Technological Changes
166(3)
Creating New Markets
167(2)
The Value Curve
169(1)
Strategies for Turbulent and Hypercompetitive Markets
169(1)
How Would You Do That? 6.1
[yellow tail]® Creates a New Value Curve in the Wine Industry
170(7)
A Model for Competing in the Face of Hypercompetition
172(3)
Putting a Value on Staging and Pacing
175(2)
Formulating and Implementing Dynamic Strategies
177(1)
How Would You Do That? 6.2
Integrating Formulation and Implementation in Dynamic Contexts: The Case of R.R. Donnelley
178(3)
Focusing on Arenas and Staging
180(1)
Summary
181(1)
Key Terms
182(1)
Review Questions
182(1)
How Would You Do That?
182(1)
Group Activities
182(1)
Endnotes
183(1)
Developing Corporate Strategy
184(28)
Corporate Strategy
187(4)
The Evolution of Diversification in the United States
189(2)
Economic Logic of Diversification: Synergy
191(5)
Economies of Scope
191(1)
Revenue-Enhancement Synergies
192(1)
Economic Benefits of Diversification
193(1)
Limits of Diversification Benefits
193(2)
Resource Relatedness and Competitive Similarity
195(1)
Ulterior Motives for Diversification
196(1)
Forms of Scope and Diversification
196(5)
Vertical Scope
196(1)
Horizontal Scope
197(2)
Geographic Scope
199(2)
Who Should Own the Business?
201(1)
Determining Comparative Value
201(1)
How to Create Value
201(1)
Competitive Advantage and Corporate Strategy
202(2)
Arenas
202(1)
Resources
202(1)
Implementation
203(1)
Corporate Strategy in Stable and Dynamic Contexts
204(4)
Corporate Strategy in Stable Contexts
204(1)
Corporate Strategy in Dynamic Contexts
205(3)
How Would You Do That? 7.1
Diversification in a Dynamic Context at Disney
208(1)
Summary
209(1)
Key Terms
209(1)
Review Questions
210(1)
How Would You Do That?
210(1)
Group Activities
210(1)
Endnotes
210(2)
Looking at International Strategies
212(34)
International Strategy
216(1)
International Strategy and Competitive Advantage
217(9)
The Pros and Cons of International Expansion
218(1)
Key Factors in International Expansion
219(7)
Entry Vehicles into Foreign Countries
226(4)
Exporting
227(2)
Alliances
229(1)
Foreign Direct Investment
229(1)
How Would You Do That? 8.1
Finding a Global Partner to Deliver the Goods
230(3)
Importing and International Strategy
232(1)
International Strategy Configurations
233(4)
Multinational Configuration
234(1)
International Configuration
234(2)
Global Configuration
236(1)
Transnational Configuration
236(1)
Born-Global Firms
236(1)
International Strategy in Stable and Dynamic Contexts
237(3)
Global Context and Industry Life Cycle
238(1)
Developing a Mind-Set for Global Dynamic Competitiveness
239(1)
How Would You Do That? 8.2
Tactics for Developing Globally Minded Executives
240(3)
Summary
243(1)
Key Terms
243(1)
Review Questions
243(1)
How Would You Do That?
244(1)
Group Activities
244(1)
Endnotes
244(2)
PART FOUR STRATEGY VEHICLES FOR NEW DIRECTIONS
Understanding Alliances and Cooperative Strategies
246(28)
Strategic Alliances
249(2)
Form and Structure of Alliances
251(2)
Joint Ventures and Other Equity Alliances
252(1)
Nonequity Alliances
252(1)
Multiparty Alliances
252(1)
Why Alliances?
253(3)
Alliances and Competitive Advantage
253(2)
Alliance Motivation over Time
255(1)
Alliances as Strategy Vehicles
256(6)
Alliances and Business Strategy
257(2)
Corporate and International Strategic Alliances
259(1)
Alliance Networks
260(1)
Risks Arising from Alliances
260(2)
Alliances in Stable and Dynamic Contexts
262(1)
Relative Stability and Alliance Motivation
262(1)
Relative Stability and the Coevolution Model of Corporate Strategy
263(1)
What Makes an Alliance Successful?
263(4)
Understanding the Determinants of Trust
264(1)
Managing Knowledge and Learning
265(1)
Understanding Alliance Evolution
266(1)
Measuring Alliance Performance
266(1)
How Would You Do That? 9.1
Managing Coevolution at Fuji Xerox
267(3)
Dedicated Alliance Function
268(1)
When Do Partners Fit?
268(2)
How Would You Do That? 9.2
Assessing Alliance Fit at Millennium Pharmaceuticals
270(1)
Summary
271(1)
Key Terms
272(1)
Review Questions
272(1)
How Would You Do That?
272(1)
Group Activities
272(1)
Endnotes
272(2)
Studying Mergers and Acquisitions
274(28)
Motives for Mergers and Acquisitions
277(3)
Differences Between Acquisitions and Mergers
277(1)
Managerial Self-Interest
277(1)
Hubris
278(1)
Synergy
278(2)
Mergers, Acquisitions, and Strategy
280(3)
The Vehicle and Its Economic Logic
280(2)
Benefits of Acquisition over Internal Development
282(1)
Drawbacks of Acquisition over Internal Development
283(1)
Types of Mergers and Acquisitions
283(4)
Types of Acquisitions
283(4)
Pricing and Premiums
287(2)
Pricing
287(1)
Premiums
288(1)
How Would You Do That? 10.1
The Impact of Premiums on Required Synergies
289(1)
The Acquisition Process
290(3)
Stages of the Acquisition Process
290(3)
Integrating and Implementing an Acquisition
293(3)
Strategic Interdependence
293(1)
Need for Autonomy
293(1)
Types of Integration
294(1)
The Implementation Process
295(1)
Acquisitions in Different Industry Contexts
296(2)
M&As and Industry Life Cycle
297(1)
M&As in Dynamic Contexts
297(1)
M&As and Coevolution
298(1)
Summary
298(1)
Key Terms
299(1)
Review Questions
300(1)
How Would You Do That?
300(1)
Group Activities
300(1)
Endnotes
300(2)
PART FIVE IMPLEMENTATION, NEW VENTURES, AND GOVERNANCE IN DYNAMIC CONTEXTS
Employing Strategy Implementation Levers
302(34)
Interdependence of Strategy Formulation and Implementation
305(3)
A Model Company
306(1)
The Knowing-Doing Gap
306(2)
How Would You Do That? 11.1
Picking Up the Pieces at SAP
308(1)
Implementation Levers
309(9)
Structure
309(2)
Forms of Organization Structure
311(4)
Systems and Processes
315(3)
How Would You Do That? 11.2
Developing a Balanced Scorecard for the NUWC
318(4)
People and Rewards
319(3)
Strategic Leadership and Strategy Implementation
322(4)
Decisions About Levers
322(1)
Decisions About Resource Allocation
323(1)
Communicating with Key Stakeholders About Strategy
324(2)
Implementation Levers in Global Firms and Dynamic Contexts
326(5)
Implementation Solutions for Global Firms
326(2)
Implementation Levers in Dynamic Contexts
328(3)
Linking Strategy Implementation to Staging
331(1)
Summary
331(1)
Key Terms
332(1)
Review Questions
332(1)
How Would You Do That?
333(1)
Group Activities
333(1)
Endnotes
333(3)
Considering New Ventures and Corporate Renewal
336(30)
From New-Venture Creation to Corporate Renewal
339(1)
New-Venture Creation Versus Corporate Renewal
339(1)
Entrepreneurship and the Entrepreneurial Process
340(3)
What Is Entrepreneurship?
340(1)
The Entrepreneurial Process
341(2)
New-Venture Creation and Corporate New Venturing
343(4)
New-Venture Scenarios
343(2)
Corporate New Venturing
345(2)
Initial Public Offerings and Managerial Professionalism
347(3)
How Does an IPO Work?
348(1)
Cost of an IPO
348(1)
An IPO or a More Formal Organization?
349(1)
Why Do Organizations Fail?
350(5)
External Causes of Organizational Failure
350(3)
Internal Causes of Organizational Failure
353(2)
Strategic Change and Organizational Renewal
355(1)
The Change Process
355(1)
How Would You Do That? 12.1
Are Jones Soda's Numbers Fizzy or Flat?
356(4)
Turnaround Management
358(2)
How Would You Do That? 12.2
A Successful Turnaround at ISH
360(3)
Summary
363(1)
Key Terms
364(1)
Review Questions
364(1)
How Would You Do That?
364(1)
Group Activities
364(1)
Endnotes
365(1)
Corporate Governance in the Twenty-First Century
366(279)
What Is Corporate Governance?
369(1)
Corporate Governance and Competitive Advantage
370(6)
Evidence That Governance Works
370(3)
Corporate Governance and Strategy
373(1)
The Major Parties in Corporate Governance
373(1)
Codes of Governance
373(3)
Ownership and the Roles of Owners
376(1)
The Board of Directors
377(5)
Insiders Versus Outsiders
378(1)
The Board's Activities and the Company's Strategy
379(3)
Executive Compensation
382(1)
Executive Ownership
382(1)
How Would You Do That? 13.1
Establishing Executive Ownership Requirements at Dendrite International
383(5)
Incentive Compensation
384(4)
The Market for Corporate Control
388(1)
The Faces of Corporate Governance Around the World
389(1)
Differing National Governance Practices
389(1)
How Would You Do That? 13.2
How to Hire and Compensate the Big Banana
390(3)
The Case of Germany
392(1)
The Case of China
392(1)
Summary
393(1)
Key Terms
394(1)
Review Questions
394(1)
How Would You Do That?
394(1)
Group Activities
394(1)
Endnotes
395(7)
PART SIX CASE STUDIES: PULLING IT ALL TOGETHER
Kmart---Fall of a Retailing Giant
402(10)
Charlotte Beers at Ogilvy & Mather Worldwide (A)
412(14)
Trilogy Farm (A)
426(7)
The Formula One Constructors
433(10)
Prince Edward Island Preserve Co.
443(11)
Carrefour vs. Wal-Mart: The Battle for Global Retail Dominance
454(22)
The Chinese Fireworks Industry
476(7)
Home Depot's Strategy Under Bob Nardelli
483(8)
Ryanair---The ``Southwest'' of European Airlines
491(8)
Advanced Micro Devices---Life Beyond Intel
499(9)
Airbus --- From Challenger to Leader
508(9)
Moving Tata Consultancy Services into the ``Global Top 10''
517(11)
McDonald's and the McCafe Coffee Initiative
528(6)
Coca-Cola's Re-Entry and Growth Strategies in China
534(8)
Fuji Xerox and the Xerox Corp.: Turning Tables?
542(10)
Neilson International in Mexico (A)
552(7)
The HP-Compaq Merger Story
559(10)
Cisco Systems, Inc.: Acquisition Integration for Manufacturing (A)
569(18)
Multiplication of the Best Practices at Holcim: A History of Firsts
587(11)
Implementation of the Balanced Scorecard as a Means of Corporate Learning: The Porsche Case
598(7)
Blue Whale Moving Company, Inc. (A)
605(10)
Reviving Iridium
615(7)
DaimlerChrysler: Corporate Governance Dynamics in a Global Company
622(15)
Trouble in the ``Magic Kingdom'' ---Governance Problems at Disney
637(8)
Case index645(8)
Glossary653(4)
Name index657(6)
Company/product index663(8)
Subject index671(16)
Photo credits687

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