Essentials of Strategic Management: The Quest for Competitive Advantage ISE
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Essentials of Strategic Management, 7th Edition by Gamble, Peteraf, and Thompson presents concise, straight-to-the-point discussions, and timely examples, with a writing style that captures student interest. It features 10 chapters with 12 diverse and tightly-linked cases. The content is solidly mainstream and balanced, mirroring both insights of academic thought and real-world strategic management.
Annað
- Höfundar: John Gamble, Margaret Peteraf
- Útgáfa:7
- Útgáfudagur: 2020-01-14
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- Format:ePub
- ISBN 13: 9781260579253
- Print ISBN: 9781260575668
- ISBN 10: 1260579255
Efnisyfirlit
- Cover
- Title
- Copyright
- Dedication
- About the Authors
- Brief Contents
- Preface
- Acknowledgments
- Table of Contents
- Connect
- Course Design and Delivery
- Essentials of Strategic Management 7e
- PART ONE CONCEPTS AND TECHNIQUES FOR CRAFTING AND EXECUTING STRATEGY
- Section A: Introduction and Overview
- Chapter 1 Strategy, Business Models, and Competitive Advantage
- The Importance of a Distinctive Strategy and Competitive Approach
- The Relationship Between a Company’s Strategy and Business Model
- Strategy and the Quest for Competitive Advantage
- CONCEPTS & CONNECTIONS 1.1: PANDORA, SIRIUS XM, AND OVER-THE-AIR BROADCAST RADIO: THREE CONTRASTING BUSINESS MODELS
- The Importance of Capabilities in Building and Sustaining Competitive Advantage
- CONCEPTS & CONNECTIONS 1.2: APPLE INC.’S STRATEGY AND SUCCESS IN THE MARKETPLACE
- Why a Company’s Strategy Evolves over Time
- The Three Tests of a Winning Strategy
- Why Crafting and Executing Strategy Are Important Tasks
- The Road Ahead
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Chapter 2 Strategy Formulation, Execution, and Governance
- The Strategy Formulation, Strategy Execution Process
- Stage 1: Developing a Strategic Vision, a Mission, and Core Values
- CONCEPTS & CONNECTIONS 2.1: EXAMPLES OF STRATEGIC VISIONS—HOW WELL DO THEY MEASURE UP?
- The Importance of Communicating the Strategic Vision
- Developing a Company Mission Statement
- Linking the Strategic Vision and Mission with Company Values
- CONCEPTS & CONNECTIONS 2.2: TOMS SHOES: ITS MISSION-DRIVEN BUSINESS MODEL
- Stage 2: Setting Objectives
- The Imperative of Setting Stretch Objectives
- What Kinds of Objectives to Set
- CONCEPTS & CONNECTIONS 2.3: EXAMPLES OF COMPANY OBJECTIVES
- Stage 3: Crafting a Strategy
- Strategy Formulation Involves Managers at All Organizational Levels
- A Company’s Strategy-Making Hierarchy
- Stage 4: Implementing and Executing the Chosen Strategy
- Stage 5: Evaluating Performance and Initiating Corrective Adjustments
- Corporate Governance: The Role of the Board of Directors in the Strategy Formulation, Strategy Execution Process
- CONCEPTS & CONNECTIONS 2.4: CORPORATE GOVERNANCE FAILURES AT VOLKSWAGEN
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Chapter 1 Strategy, Business Models, and Competitive Advantage
- Section A: Introduction and Overview
- Section B: Core Concepts and Analytical Tools
- Chapter 3 Evaluating a Company’s External Environment
- Assessing the Company’s Industry and Competitive Environment
- Question 1: What Are the Strategically Relevant Components of the Macro-Environment?
- Question 2: How Strong Are the Industry’s Competitive Forces?
- The Competitive Force of Buyer Bargaining Power
- The Competitive Force of Substitute Products
- The Competitive Force of Supplier Bargaining Power
- The Competitive Force of Potential New Entrants
- The Competitive Force of Rivalry among Competing Sellers
- The Collective Strengths of the Five Competitive Forces and Industry Profitability
- Question 3: What Are the Industry’s Driving Forces of Change, and What Impact Will They Have?
- The Concept of Industry Driving Forces
- Identifying an Industry’s Driving Forces
- Assessing the Impact of the Industry Driving Forces
- Determining Strategy Changes Needed to Prepare for the Impact of Driving Forces
- Question 4: How Are Industry Rivals Positioned?
- Using Strategic Group Maps to Assess the Positioning of Key Competitors
- CONCEPTS & CONNECTIONS 3.1: COMPARATIVE MARKET POSITIONS OF SELECTED PIZZA CHAINS: A STRATEGIC GROUP MAP EXAMPLE
- The Value of Strategic Group Maps
- Question 5: What Strategic Moves Are Rivals Likely to Make Next?
- Question 6: What Are the Industry Key Success Factors?
- Question 7: Does the Industry Offer Good Prospects for Attractive Profits?
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Chapter 4 Evaluating a Company’s Resources, Capabilities, and Competitiveness
- Question 1: How Well Is the Company’s Strategy Working?
- Question 2: What Are the Company’s Competitively Important Resources and Capabilities?
- Identifying Competitively Important Resources and Capabilities
- Determining the Competitive Power of a Company’s Resources and Capabilities
- The Importance of Dynamic Capabilities in Sustaining Competitive Advantage
- Is the Company Able to Seize Market Opportunities and Nullify External Threats?
- Question 3: Are the Company’s Cost Structure and Customer Value Proposition Competitive?
- Company Value Chains
- CONCEPTS & CONNECTIONS 4.1: THE VALUE CHAIN FOR BOLL & BRANCH
- Benchmarking: A Tool for Assessing Whether a Company’s Value Chain Activities Are Competitive
- The Value Chain System for an Entire Industry
- Strategic Options for Remedying a Cost or Value Disadvantage
- How Value Chain Activities Relate to Resources and Capabilities
- Question 4: What Is the Company’s Competitive Strength Relative to Key Rivals?
- Interpreting the Competitive Strength Assessments
- Question 5: What Strategic Issues and Problems Must Be Addressed by Management?
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Chapter 3 Evaluating a Company’s External Environment
- PART ONE CONCEPTS AND TECHNIQUES FOR CRAFTING AND EXECUTING STRATEGY
- Section C: Crafting a Strategy
- Chapter 5 The Five Generic Competitive Strategies
- The Five Generic Competitive Strategies
- Low-Cost Provider Strategies
- The Two Major Avenues for Achieving Low-Cost Leadership
- When a Low-Cost Provider Strategy Works Best
- CONCEPTS & CONNECTIONS 5.1: VANGUARD’S PATH TO BECOMING THE LOW-COST LEADER IN INVESTMENT MANAGEMENt
- Pitfalls to Avoid in Pursuing a Low-Cost Provider Strategy
- Broad Differentiation Strategies
- Approaches to Differentiation
- Managing the Value Chain in Ways That Enhance Differentiation
- Delivering Superior Value via a Differentiation Strategy
- Perceived Value and the Importance of Signaling Value
- 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 Viable
- CONCEPTS & CONNECTIONS 5.2: CLINÍCAS DEL AZÚCAR’S FOCUSED LOW-COST STRATEGY
- The Risks of a Focused Low-Cost or Focused Differentiation Strategy
- CONCEPTS & CONNECTIONS 5.3: CANADA GOOSE’S FOCUSED DIFFERENTIATION STRATEGY
- Best-Cost Provider Strategies
- When a Best-Cost Provider Strategy Works Best
- CONCEPTS & CONNECTIONS 5.4: AMERICAN GIANT’S BEST-COST PROVIDER STRATEGY
- The Danger of an Unsound Best-Cost Provider Strategy
- Successful Competitive Strategies Are Resource Based
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Chapter 6 Strengthening a Company’s Competitive Position: Strategic Moves, Timing, and Scope of Operations
- 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
- Using Defensive Strategies to Protect a Company’s Market Position and Competitive Advantage
- CONCEPTS & CONNECTIONS 6.1: ETSY’S BLUE OCEAN STRATEGY IN ONLINE RETAILING OF HOMEMADE CRAFTS
- Blocking the Avenues Open to Challengers
- Signaling Challengers That Retaliation Is Likely
- Timing a Company’s Offensive and Defensive Strategic Moves
- The Potential for Late-Mover Advantages or First-Mover Disadvantages
- Deciding Whether to Be an Early Mover or Late Mover
- 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
- CONCEPTS & CONNECTIONS 6.2: WALMART’S EXPANSION INTO E-COMMERCE VIA HORIZONTAL ACQUISITION
- Vertical Integration Strategies
- The Advantages of a Vertical Integration Strategy
- The Disadvantages of a Vertical Integration Strategy
- Outsourcing Strategies: Narrowing the Scope of Operations
- CONCEPTS & CONNECTIONS 6.3: TESLA’S VERTICAL INTEGRATION STRATEGY
- Strategic Alliances and Partnerships
- Failed Strategic Alliances and Cooperative Partnerships
- The Strategic Dangers of Relying on Alliances for Essential Resources and Capabilities
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Launching Strategic Offensives to Improve a Company’s Market Position
- Chapter 7 Strategies for Competing in International Markets
- Why Companies Expand into International Markets
- Factors That Shape Strategy Choices in International Markets
- Cross-Country Differences in Demographic, Cultural, and Market Conditions
- Opportunities for Location-Based Cost Advantages
- Industry Cluster Knowledge Sharing Opportunities
- The Risks of Adverse Exchange Rate Shifts
- The Impact of Government Policies on the Business Climate in Host Countries
- Strategy Options for Entering Foreign Markets
- Export Strategies
- Licensing Strategies
- Franchising Strategies
- Foreign Subsidiary Strategies
- Alliance and Joint Venture Strategies
- CONCEPTS & CONNECTIONS 7.1: WALGREENS BOOTS ALLIANCE, INC.: ENTERING FOREIGN MARKETS VIA ALLIANCE FOLLOWED BY MERGER
- International Strategy: The Three Principal Options
- Multidomestic Strategy—A Think Local, Act Local Approach to Strategy Making
- Global Strategy—A Think Global, Act Global Approach to Strategy Making
- Transnational Strategy—A Think Global, Act Local Approach to Strategy Making
- Using International Operations to Improve Overall Competitiveness
- CONCEPTS & CONNECTIONS 7.2: FOUR SEASONS HOTELS: LOCAL CHARACTER, GLOBAL SERVICE
- Using Location to Build Competitive Advantage
- Using Cross-Border Coordination to Build Competitive Advantage
- Strategies for Competing in the Markets of Developing Countries
- Strategy Options for Competing in Developing-Country Markets
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Chapter 8 Corporate Strategy: Diversification and the Multibusiness Company
- When Business Diversification Becomes a Consideration
- Building Shareholder Value: The Ultimate Justification for Business Diversification
- Approaches to Diversifying the Business Lineup
- Diversification by Acquisition of an Existing Business
- Entering a New Line of Business Through Internal Development
- Using Joint Ventures to Achieve Diversification
- Choosing the Diversification Path: Related Versus Unrelated Businesses
- Diversifying into Related Businesses
- Strategic Fit and Economies of Scope
- The Ability of Related Diversification to Deliver Competitive Advantage and Gains in Shareholder Value
- CONCEPTS & CONNECTIONS 8.1: THE KRAFT–HEINZ MERGER: PURSUING THE BENEFITS OF CROSS-BUSINESS STRATEGIC FIT
- Diversifying into Unrelated Businesses
- Building Shareholder Value Through Unrelated Diversification
- The Pitfalls of Unrelated Diversification
- Misguided Reasons for Pursuing Unrelated Diversification
- Diversifying into Both Related and Unrelated Businesses
- 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 Multibusiness Companies
- Step 4: Evaluating Resource Fit
- Step 5: Ranking Business Units and Setting a Priority for Resource Allocation
- Step 6: Crafting New Strategic Moves to Improve the Overall Corporate Performance
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Chapter 9 Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy
- What Do We Mean by Business Ethics?
- Drivers of Unethical Strategies and Business Behavior
- CONCEPTS & CONNECTIONS 9.1: ETHICAL VIOLATIONS AT UBER AND THEIR CONSEQUENCES
- The Business Case for Ethical Strategies
- Ensuring a Strong Commitment to Business Ethics in Companies with International Operations
- The School of Ethical Universalism
- The School of Ethical Relativism
- Integrative Social Contracts Theory
- Strategy, Corporate Social Responsibility, and Environmental Sustainability
- What Do We Mean by Corporate Social Responsibility?
- CONCEPTS & CONNECTIONS 9.2: WARBY PARKER: COMBINING CORPORATE SOCIAL RESPONSIBILITY WITH AFFORDABLE FASHION
- What Do We Mean by Sustainability and Sustainable Business Practices?
- Crafting Corporate Social Responsibility and Sustainability Strategies
- The Business Case for Socially Responsible Behavior
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Chapter 5 The Five Generic Competitive Strategies
- Chapter 10 Superior Strategy Execution—Another Path to Competitive Advantage
- The Principal Managerial Components of Strategy Execution
- Building an Organization Capable of Good Strategy Execution: Three Key Actions
- Staffing the Organization
- CONCEPTS & CONNECTIONS 10.1: MANAGEMENT DEVELOPMENT AT DELOITTE TOUCHE TOHMATSU LIMITED
- Acquiring, Developing, and Strengthening Key Resources and Capabilities
- CONCEPTS & CONNECTIONS 10.2: ZARA’S STRATEGY EXECUTION CAPABILITIES
- Matching Organizational Structure to the Strategy
- Allocating Resources to Strategy-Critical Activities
- Instituting Strategy-Supportive Policies and Procedures
- Striving for Continuous Improvement in Processes and Activities
- The Difference Between Business Process Reengineering and Continuous Improvement Programs
- Installing Information and Operating Systems
- Using Rewards and Incentives to Promote Better Strategy Execution
- Motivation and Reward Systems
- Guidelines for Designing Monetary Incentive Systems
- Nonmonetary Rewards
- CONCEPTS & CONNECTIONS 10.3: HOW WEGMANS REWARDS AND MOTIVATES ITS EMPLOYEES
- Instilling a Corporate Culture That Promotes Good Strategy Execution
- High-Performance Cultures
- Adaptive Cultures
- Unhealthy Corporate Cultures
- Changing a Problem Culture
- Leading the Strategy Execution Process
- CONCEPTS & CONNECTIONS 10.4: DRIVING CULTURAL CHANGE AT GOLDMAN SACHS
- Staying on Top of How Well Things Are Going
- Putting Constructive Pressure on Organizational Units to Achieve Good Results and Operating Excellence
- Initiating Corrective Actions to Improve Both the Company’s Strategy and Its Execution
- Key Points
- Assurance of Learning Exercises
- Exercises for Simulation Participants
- Endnotes
- Appendix Key Financial Ratios: How to Calculate Them and What They Mean
- Cases
- Case 1 Fixer Upper: Expanding the Magnolia Brand
- Rochelle R. Brunson Baylor University
- Marlene M. Reed Baylor University
- Case 2 Lola’s Market: Capturing a New Generation
- Kathrine Gonzalez MBA Student, Sonoma State University
- Sergio Canavati Sonoma State University
- Armand Gilinsky Sonoma State University
- Case 3 Under Armour’s Strategy in 2019: Its Struggle to Revive North American Sales and Profitability
- Arthur A. Thompson The University of Alabama
- Case 4 iRobot in 2019: Can the Company Keep the Magic?
- David L. Turnipseed University of South Alabama
- John E. Gamble Texas A&M University–Corpus Christi
- Case 5 Twitter, Inc. in 2019: Are the Growth and Profit Sustainable?
- David L. Turnipseed University of South Alabama
- Case 6 Netflix in 2019: Striving to Solidify Its Position as the Global Leader
- Arthur A. Thompson The University of Alabama
- Case 7 Mattel Incorporated in 2019: Hard Times in the Toy Industry
- Randall D. Harris Texas A&M University–Corpus Christi
- Jeffrey Wylie MBA Student, Texas A&M University–Corpus Christi
- Case 8 Tesla’s Strategy in 2019: Is Sustained Profitability a Realistic Prospect?
- Arthur A. Thompson The University of Alabama
- Case 9 The Walt Disney Company: Its Diversification Strategy in 2018
- John E. Gamble Texas A&M University–Corpus Christi
- Case 10 Robin Hood
- Joseph Lampel Alliance Manchester Business School
- Case 11 Starbucks in 2019: Is the Company on Track to Achieve Operational Excellence and Attractive Growth?
- Arthur A. Thompson The University of Alabama
- Case 12 Profiting from Pain: Business and the U.S. Opioid Epidemic
- Anne T. Lawrence San Jose State University
- Case 1 Fixer Upper: Expanding the Magnolia Brand
- Organization
- Subject
- Name
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- Gerð : 208
- Höfundur : 15137
- Útgáfuár : 2020
- Leyfi : 379