Strategic Management, 10th Edition PDF by Gregory G. Dess, Gerry Mcnamara, Alan B. Eisner, Seung-Hyun (Sean) Lee and Steve Sauerwald

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Strategic Management, Tenth Edition

By Gregory G. Dess, Gerry Mcnamara, Alan B. Eisner, Seung-Hyun (Sean) Lee and Steve Sauerwald

Strategic Management 10th edition

Contents:

PART 1 STRATEGIC ANALYSIS

CHAPTER 1

Strategic Management: Creating Competitive

Advantages 2

Learning from Mistakes  3

What Is Strategic Management? . 5

Defining Strategic Management  5

The Four Key Attributes of Strategic Management  6

1.1 STRATEGY SPOTLIGHT

Ambidextrous Behaviors: Combining Alignment and Adaptability  9

The Strategic Management Process . 9

Intended versus Realized Strategies  9

Strategy Analysis  12

Strategy Formulation  12

Strategy Implementation  13

1.1 INSIGHTS FROM EXECUTIVES

The Strategic Management Process 14

The Role of Corporate Governance and Stakeholder

Management . 16

Alternative Perspectives of Stakeholder Management  18

Social Responsibility and Environmental Sustainability:

Moving beyond the Immediate Stakeholders  19

1.2 STRATEGY SPOTLIGHT

Environmental Sustainability in the Fashion Industry 22

The Strategic Management Perspective: An Imperative

throughout the Organization . 23

1.3 STRATEGY SPOTLIGHT

Strategy and the Value of Inexperience  24

Ensuring Coherence in Strategic Direction . 24

Why Share a Firm’s Strategic Direction? 24

Organizational Vision  25

1.4 STRATEGY SPOTLIGHT Digital Economy

Alibaba’s Vision Created the World’s Most Valuable Online

Ecosystem  26

Mission Statements  27

Strategic Objectives  28

Issue for Debate 29

Reflecting on Career Implications . . . 30

Key Points  30

Summary Review Questions  31

Key Terms 32

Experiential Exercises and Application Questions 32

Ethics Questions

References 33

CHAPTER 2

Analyzing the External Environment of the Firm ..36

Learning from Mistakes  37

Enhancing Awareness of the External Environment . 38

The Role of Scanning, Monitoring, Competitive

Intelligence, and Forecasting  39

2.1 STRATEGY SPOTLIGHT Ethics

Ethical Guidelines on Competitive Intelligence:

United Technologies  40

SWOT Analysis  42

The General Environment . 43

The Demographic Segment  45

The Sociocultural Segment  45

The Political/Legal Segment  45

2.1 INSIGHTS FROM RESEARCH

New Tricks: Research Debunks Myths about Older Workers  46

2.2 STRATEGY SPOTLIGHT Environmental Sustainability

Environmental Awareness Drives Sustainable

Business Practices  47

The Technological Segment  47

The Economic Segment  48

The Global Segment  48

Relationships among Elements of the

General Environment  49

Digital Economy: A Fundamental Shift in the

Business Environment .50

2.3 STRATEGY SPOTLIGHT Digital Economy

How Big Data Can Monitor Federal, State, and Local

Government Expenditures 51

The Competitive Environment.  52

Porter’s Five Forces Model of Industry Competition   52

How the Internet and Digital Technologies are Affecting the Five Competitive Forces   56

2.4 STRATEGY SPOTLIGHT

Intense Rivalry Prevents U.s. Grocers From Raising Prices   57

2.5 STRATEGY SPOTLIGHT

Buyer Power In Legal Services: The Role of the Internet   59

Using Industry Analysis: A Few Caveats   60

Strategic Groups within Industries   62

Issue for Debate  65

Reflecting on Career Implications . . . 66

Key Points  66

Summary Review Questions  67

Key Terms  68

Experiential Exercises and Application Questions  68

Ethics Questions  68

References  68

CHAPTER 3

Assessing the Internal Environment of the Firm . .72

Learning from Mistakes   73

Value-Chain Analysis . 74

Primary Activities   74

Support Activities   76

3.1 STRATEGY SPOTLIGHT Digital Economy Retailers Rein in their Return Policies  77

3.2 STRATEGY SPOTLIGHT

Schmitz Cargobull: Adding Value to Customers via It  79

Interrelationships among Value-Chain Activities within and across Organizations   79

Applying the Value Chain to Service Organizations   79

3.3 STRATEGY SPOTLIGHT Environmental Sustainability

Sustainability Across the Value Chain   80

Resource-Based View of the Firm .  81

Types of Firm Resources   83

3.4 STRATEGY SPOTLIGHT Digital Economy

Zara Embraces Technology to Meet the Online

Retailer Challenge   84

Firm Resources and Sustainable Competitive Advantages   84

The Generation and Distribution of a Firm’s Profits:

Extending the Resource-Based View of the Firm   89

Evaluating Firm Performance: Two Approaches .  90

Financial Ratio Analysis   90

Integrating Financial Analysis and Stakeholder

Perspectives: The Balanced Scorecard   93

3.1 INSIGHTS FROM RESEARCH

The Benefits of Balance   95

Issue for Debate  96

Reflecting on Career Implications . . .  97

Key Points   97

Summary Review Questions   98

Key Terms   98

Experiential Exercises and Application Questions  98

Ethics Questions   100

References  100

CHAPTER 4

Recognizing a Firm’s Intellectual Assets: Moving beyond a Firm’s Tangible Resources . . 102

Learning from Mistakes   103

The Central Role of Knowledge in Today’s Economy .  104

Human Capital: The Foundation

of Intellectual Capital .  106

4.1 STRATEGY SPOTLIGHT Environmental Sustainability

Can Green Strategies Attract and Retain Talent?  108

Attracting Human Capital  108

4.1 INSIGHTS FROM RESEARCH

Welcome Back! Recruiting Boomerang Employees   109

4.2 STRATEGY SPOTLIGHT Digital Economy

Unilever’s Use of Artificial Intelligence to Hire the

Best Talent  111

Developing Human Capital   111

Retaining Human Capital  113

Enhancing Human Capital: Redefining Jobs and Managing Diversity  115

4.3 STRATEGY SPOTLIGHT

Millennials Have a Different Definition of Diversity and

Inclusion than Prior Generations   117

The Vital Role of Social Capital .  .117

How Social Capital Helps Attract and Retain Talent   118

Social Networks: Implications for Knowledge

Management and Career Success   119

The Potential Downside of Social Capital  122

4.4 STRATEGY SPOTLIGHT

How Women Can Network More Effectively   123

Using Technology to Leverage Human

Capital and Knowledge .  124

Using Networks to Share Information   124

Electronic Teams: Using Technology to

Enhance Collaboration   124

4.5 STRATEGY SPOTLIGHT Digital Economy

How SAP Taps Knowledge Well Beyond Its Boundaries   126

Codifying Knowledge for Competitive Advantage   126

Protecting the Intellectual Assets of the Organization:

Intellectual Property and Dynamic Capabilities . 128

Intellectual Property Rights   128

Dynamic Capabilities   129

Issue for Debate  130

Reflecting on Career Implications . . .  131

Key Points   131

Summary Review Questions   132

Key Terms   132

Experiential Exercises and Application Questions   133

Ethics Questions   133

References   133

PART 2 STRATEGIC FORMULATION

CHAPTER 5

Business-Level Strategy: Creating and

Sustaining Competitive Advantages . . 138

Learning from Mistakes   139

Types of Competitive Advantage

and Sustainability .. 140

Overall Cost Leadership  141

5.1 STRATEGY SPOTLIGHT Environmental Sustainability

Primark Strives to Balance Low Costs with

Environmental Sustainability  143

Differentiation  145

5.2 STRATEGY SPOTLIGHT Ethics

The Name of the Game is to Make it Harder to Stop Playing  147

Focus  149

5.3 STRATEGY SPOTLIGHT

Extreme Differentiation: The Aston Martin Valkyrie   150

Combination Strategies: Integrating Overall Low Cost

and Differentiation  151

5.4 STRATEGY SPOTLIGHT Digital Economy

Mass Customized Menswear   153

Can Competitive Strategies be Sustained? Integrating

and Applying Strategic Management Concepts .  154

Atlas Door: A Case Example  154

Are Atlas Door’s Competitive Advantages Sustainable?  155

Strategies for Platform Markets   157

Industry Life-Cycle Stages: Strategic

Implications  158

Strategies in the Introduction Stage   160

Strategies in the Growth Stage   160

Strategies in the Maturity Stage  161

Strategies in the Decline Stage   162

5.5 STRATEGY SPOTLIGHT

Charging Up Profits in a Declining Industry 163

Turnaround Strategies  164

Issue for Debate  165

Reflecting on Career Implications . . . 166

Key Points  166

Summary Review Questions   167

Key Terms   167

Experiential Exercises and Application Questions   167

Ethics Questions   168

References   168

CHAPTER 6

Corporate-Level Strategy: Creating Value

through Diversification . 172

Learning from Mistakes   173

Making Diversification Work: An Overview .  175

Related Diversification: Economies of Scope and Revenue Enhancement . 176

Leveraging Core Competencies  177

6.1 STRATEGY SPOTLIGHT

Leveraging Volvo’s Competencies to Transform Geely   178

Sharing Activities   178

Enhancing Revenue and Differentiation .  179

Related Diversification: Market Power .  179

6.2 STRATEGY SPOTLIGHT Environmental Sustainability

Tesla Breaks Industry Norms by Vertically Integrating  180

Pooled Negotiating Power   180

Vertical Integration  180

Unrelated Diversification: Financial

Synergies and Parenting .  182

Corporate Parenting and Restructuring   183

Portfolio Management  184

Caveat: Is Risk Reduction a Viable Goal of

Diversification?  186

The Means to Achieve Diversification .  186

Mergers and Acquisitions  187

6.3 STRATEGY SPOTLIGHT

A Diversified Firm Uses Acquisitions to Change its Focus   189

6.1 INSIGHTS FROM RESEARCH

Do Managers Learn from Media Assessments of Acquisitions?  191

Strategic Alliances and Joint Ventures   192

Internal Development   193

6.4 STRATEGY SPOTLIGHT

Honda Looks to Alliance Partners to Meet Changing

Market Needs   194

How Managerial Motives Can Erode

Value Creation .  195

Growth for Growth’s Sake   195

Egotism  195

Antitakeover Tactics   196

Issue for Debate  196

Reflecting on Career Implications . . .  197

Key Points  197

Summary Review Questions   198

Key Terms   198

Experiential Exercises and Application Questions  199

Ethics Questions   199

References   199

CHAPTER 7

International Strategy: Creating Value in Global

Markets   202

Learning from Mistakes   203

The Global Economy: A Brief Overview . . 204

Factors Affecting a Nation’s Competitiveness . . 205

Factor Endowments   205

Demand Conditions   205

Related and Supporting Industries   206

Firm Strategy, Structure, and Rivalry   206

Concluding Comment on Factors Affecting a

Nation’s Competitiveness   206

7.1 STRATEGY SPOTLIGHT

India and the Diamond of National Advantage  207

International Expansion: A Company’s

Motivations and Risks . . 208

Motivations for International Expansion   208

Potential Risks of International Expansion   210

7.2 STRATEGY SPOTLIGHT

Reverse Innovation in Health Care   211

7.3 STRATEGY SPOTLIGHT Ethics

The Counterfeit Center on the U.S. Border? It’s Canada   213

Global Dispersion of Value Chains: Outsourcing and Offshoring  214

Achieving Competitive Advantage in Global Markets   216

Two Opposing Pressures: Reducing Costs and Adapting to Local Markets    216

International Strategy   217

Global Strategy   219

Multidomestic Strategy   220

7.4 STRATEGY SPOTLIGHT

Coca-Cola Develops Local Drinks That Taste

Nothing Like Coke   221

Transnational Strategy   222

7.5 STRATEGY SPOTLIGHT

Panasonic’s China Experience Shows the Benefits of

Being a Transnational  223

Global or Regional? A Second Look at Globalization   224

Entry Modes of International Expansion . . 225

Exporting   226

Licensing and Franchising   227

Strategic Alliances and Joint Ventures   227

Wholly Owned Subsidiaries   228

Issue for Debate  229

Reflecting on Career Implications . . .   230

Key Points   231

Summary Review Questions   231

Key Terms   232

Experiential Exercises and Application Questions  232

Ethics Questions   233

References   233

CHAPTER 8

Entrepreneurial Strategy and Competitive Dynamics ..236

Learning from Mistakes  237

Recognizing Entrepreneurial Opportunities . 238

Entrepreneurial Opportunities  238

8.1 STRATEGY SPOTLIGHT

Making it Easier to Take Your Prescriptions:

A Billion Dollar Idea   240

8.2 STRATEGY SPOTLIGHT Environmental Sustainability

Moasis Leverages Technology to Improve Water

Efficiency for Farmers   241

Entrepreneurial Resources   241

Entrepreneurial Leadership   244

8.3 STRATEGY SPOTLIGHT

The Diamond Foundry Shakes up the Diamond Business

Now and, Possibly, the Computing Industry in the

Future   246

Entrepreneurial Strategy .  246

Entry Strategies  247

Generic Strategies   249

Combination Strategies   250

Competitive Dynamics . 251

New Competitive Action  252

Threat Analysis   252

Motivation and Capability to Respond   254

Types of Competitive Actions   255

Likelihood of Competitive Reaction   255

Choosing Not to React: Forbearance and Co-opetition  257

8.4 STRATEGY SPOTLIGHT Ethics

Smoking Out Collusion Among the German Big Three  258

Issue for Debate  258

Reflecting on Career Implications . . . 259

Key Points  259

Summary Review Questions  260

Key Terms  260

Experiential Exercises and Application

Questions  261

Ethics Questions  261

References  261

PART 3 STRATEGIC IMPLEMENTATION

CHAPTER 9

Strategic Control and Corporate Governance . 264

Learning from Mistakes  265

Ensuring Informational Control: Responding

Effectively to Environmental Change . . 266

A Traditional Approach to Strategic Control   266

A Contemporary Approach to Strategic Control   267

Attaining Behavioral Control: Balancing Culture,

Rewards, and Boundaries . . 268

Building a Strong and Effective Culture   269

9.1 STRATEGY SPOTLIGHT

GE Shows One Potential Downside of a Strong Culture   270

9.2 STRATEGY SPOTLIGHT

Using Pictures and Stories to Build a Customer-

Oriented Culture   271

Motivating with Rewards and Incentives   271

Setting Boundaries and Constraints   273

9.1 INSIGHTS FROM RESEARCH

Inspire Passion—Motivate Top Performance   274

Behavioral Control in Organizations: Situational Factors   275

9.3 STRATEGY SPOTLIGHT Data Analytics

Using Data Analytics to Enhance Organizational Control   276

Evolving from Boundaries to Rewards and Culture   277

The Role of Corporate Governance . 277

The Modern Corporation: The Separation of Owners

(Shareholders) and Management   278

Governance Mechanisms: Aligning the Interests  of Owners and Managers   279

9.4 STRATEGY SPOTLIGHT

A Push for Younger and More Diverse Boards  281

CEO Duality: Is It Good or Bad?  284

External Governance Control Mechanisms   285

9.5 STRATEGY SPOTLIGHT Ethics

Japanese Government Pushes for Governance Reform   287

Corporate Governance: An International Perspective   288

Issue for Debate  290

Reflecting on Career Implications . . .   291

Key Points   291

Summary Review Questions   292

Key Terms   292

Experiential Exercises And Application Questions  292

Ethics Questions   293

References   293

CHAPTER 10

Creating Effective Organizational Designs .  298

Learning from Mistakes   299

Traditional Forms of Organizational Structure . . 300

Patterns of Growth of Large Corporations:

Strategy-Structure Relationships   300

Simple Structure   302

Functional Structure   302

Divisional Structure   303

10.1 STRATEGY SPOTLIGHT

Where Conglomerates Prosper   306

Matrix Structure   307

International Operations: Implications for

Organizational Structure   308

Global Start-Ups: A Recent Phenomenon   309

10.2 STRATEGY SPOTLIGHT

Global Start-Up, Brck, Works to Bring Reliable Internet

Connectivity to the World   310

How an Organization’s Structure Can Influence

Strategy Formulation  311

Boundaryless Organizational Designs .  311

The Barrier-Free Organization   311

10.3 STRATEGY SPOTLIGHT

GM restructures for innovation   312

10.4 STRATEGY SPOTLIGHT

Environmental Sustainability

The Business Roundtable: A Forum for Sharing Best

Environmental Sustainability Practices   314

10.1 INSIGHTS FROM RESEARCH

Where Employees Learn Affects Financial Performance  315

The Modular Organization  316

The Virtual Organization   317

Boundaryless Organizations: Making them Work  318

Creating Ambidextrous Organizational Designs .  321

Ambidextrous Organizations: Key Design Attributes   321

10.5 STRATEGY SPOTLIGHT

How Innovation Benefits from the Involvement of All the Players on the Team   322

Why Was the Ambidextrous Organization the Most

Effective Structure?  322

Issue for Debate  323

Reflecting on Career Implications . . .  324

Key Points   324

Summary Review Questions   325

Key Terms   325

Experiential Exercises and Application Questions  325

Ethics Questions   326

References   326

CHAPTER 11

Strategic Leadership: Creating a Learning

Organization and an Ethical Organization .  330

Learning from Mistakes   331

Leadership: Three Interdependent Activities .  332

Setting a Direction   333

11.1 STRATEGY SPOTLIGHT

Josh Silverman Leads a Turnaround at Etsy  334

Designing the Organization   334

Nurturing a Culture Committed to Excellence and Ethical Behavior   335

11.2 STRATEGY SPOTLIGHT Environmental Sustainability, Ethics

Family Leadership Sustains the Culture of SC Johnson  335

Getting Things Done: Overcoming Barriers and Using Power  336

Overcoming Barriers to Change   336

Using Power Effectively   337

11.3 STRATEGY SPOTLIGHT

The Importance of Moral Leadership  339

Emotional Intelligence: A Key Leadership Trait .  339

Self-Awareness   340

Self-Regulation   340

Motivation  341

Empathy  341

Social Skill  341

Emotional Intelligence: Some Potential Drawbacks and Cautionary Notes  341

Creating a Learning Organization  342

Inspiring and Motivating People with a Mission or Purpose .. 342

Empowering Employees at All Levels .  343

Accumulating and Sharing Internal Knowledge .  343

Gathering and Integrating External Information .   343

Challenging the Status Quo and Enabling Creativity .  344

The Attributes of Superbosses .  345

Creating an Ethical Organization . 347

Individual Ethics versus Organizational Ethics .  347

11.4 STRATEGY SPOTLIGHT Environmental Sustainability, Ethics Green Energy: Real or Just a Marketing Ploy? .. 348

Integrity-Based versus Compliance-Based Approaches to Organizational Ethics .  349

Role Models   350

Corporate Credos and Codes of Conduct . 351

Reward and Evaluation Systems .  351

Policies and Procedures   352

Issue for Debate  .352

Reflecting on Career Implications . . . . .353

Key Points  .354

Summary Review Questions  .354

Key Terms  .355

Experiential Exercises and Application Questions . .355

Ethics Questions  .355

References   .356

CHAPTER 12

Managing Innovation and Fostering Corporate

Entrepreneurship . .358

Learning from Mistakes  .359

Managing Innovation .. 360

12.1 STRATEGY SPOTLIGHT

Mio Drops Change the Beverage Game . .360

Types of Innovation   361

Challenges of Innovation .  362

12.2 STRATEGY SPOTLIGHT

The Promise and Peril of Graphene Batteries . .364

Cultivating Innovation Skills .  364

Defining the Scope of Innovation .   365

12.1 INSIGHTS FROM RESEARCH

The Benefits of Dormant Ties  .366

12.3 STRATEGY SPOTLIGHT

Building a Corporate Culture to Nurture Innovation . . 367

Managing the Pace of Innovation .  368

Staffing to Capture Value from Innovation .  368

Collaborating with Innovation Partners .  369

The Value of Unsuccessful Innovation .   369

Corporate Entrepreneurship .   371

Focused Approaches to Corporate

Entrepreneurship    372

Dispersed Approaches to Corporate Entrepreneurship    373

Measuring the Success of Corporate Entrepreneurship Activities . .375

Real Options Analysis: A Useful Tool .  376

Applications of Real Options Analysis to Strategic Decisions .  377

12.4 STRATEGY SPOTLIGHT

Saving Millions with Real Options at Intel . . 378

Potential Pitfalls of Real Options Analysis .  378

Entrepreneurial Orientation .  379

Autonomy    379

Innovativeness   380

Proactiveness .   380

Competitive Aggressiveness .   381

Risk Taking .  381

Issue for Debate  .382

Reflecting on Career Implications . . . . .383

Key Points .383

Summary Review Questions . .384

Key Terms . .385

Experiential Exercises and Application Questions . .385

Ethics Questions . .385

References . .385

PART 4 CASE ANALYSIS

CHAPTER 13

Analyzing Strategic Management Cases . .388

13.1 STRATEGY SPOTLIGHT

Analysis, Decision Making, And Change At Sapient Health Network . 391

How to Conduct a Case Analysis .  391

Become Familiar with the Material   392

13.2 STRATEGY SPOTLIGHT

Using a Business Plan Framework to Analyze

Strategic Cases  393

Identify Problems   393

Conduct Strategic Analyses   394

Propose Alternative Solutions   396

Make Recommendations   396

How to Get the Most from Case Analysis . . 398

Useful Decision-Making Techniques

in Case Analysis . . 400

Integrative Thinking   400

13.3 STRATEGY SPOTLIGHT

Integrative Thinking at Red Hat, Inc.   402

Asking Heretical Questions   403

Conflict-Inducing Techniques   403

13.4 STRATEGY SPOTLIGHT

Making Case Analysis Teams More Effective   404

Following the Analysis-Decision-Action

Cycle in Case Analysis . . 408

13.5 STRATEGY SPOTLIGHT

Case Competition Assignment   412

Key Points   413

Key Terms  413

References   413

Appendix 1 to Chapter 13: Financial Ratio Analysis   414

Appendix 2 to Chapter 13: Sources of Company and

Industry Information   423

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