Fundamentals of strategy: [new for 2010! The strategy experience simulation ; put your business decision-making skills into practice!]

Fundamentals of Strategyis a brand new concise version of the market-leading text Exploring Corporate Strategy. It has been developed forstudents on short courses in strategy for example, doing an initial course at undergraduate, postgraduate or post-experience level, or studying strategy as part of a wider degree in the arts, sciences or engineering. The book comprises 10 chapters, and focuses on the analysis and formulation of strategy. The final chapter raises implementation issues such as organisational structure, management processes and strategic change. Cover ......Page 1 Fundamentals of Strategy......Page 4 ISBN: 9780273713104......Page 5 Contents......Page 6 Preface......Page 12 Authors’ Acknowledgements......Page 13 Getting the Most from Fundamentals of Strategy......Page 14 Guided Tour......Page 17 Introducing Strategy......Page 20 1.2.1 The Characteristics Of Strategic Decisions......Page 21 1.2.2 Levels Of Strategy......Page 26 1.2.3 The Vocabulary Of Strategy......Page 27 1.3 Strategic Management......Page 31 1.3.1 The Strategic Position......Page 33 1.3.2 Strategic Choices......Page 34 1.4 Strategy Development Processes......Page 35 The Environment......Page 42 2.1 Introduction......Page 43 2.2.1 The Pestel Framework......Page 44 2.2.2 Building Scenarios......Page 46 2.3 Industries and Sectors......Page 48 2.3.1 Competitive Forces – The Five Forces Framework......Page 49 2.3.2 Implications Of Five Forces Analysis......Page 54 2.3.3 Key Issues In Using The Five Forces Framework......Page 56 2.3.4 The Industry Life Cycle......Page 57 2.4 Competitors and Markets......Page 60 2.4.1 Strategic Groups......Page 61 2.4.2 Market Segments......Page 65 2.4.3 Identifying The Strategic Customer......Page 66 2.4.4 Understanding What Customers Value – Critical Success Factors......Page 67 2.5 Opportunities and Threats......Page 69 Strategic Capability......Page 78 3.2 Foundations Of Strategic Capability......Page 79 3.2.1 Resources and Competences......Page 80 3.2.3 Unique Resources and Core Competences......Page 82 3.3 Cost Efficiency......Page 84 3.4 Capabilities For Achieving and Sustaining Competitive Advantage......Page 86 3.4.2 Rarity Of Strategic Capabilities......Page 87 3.4.3 Inimitable Strategic Capabilities......Page 88 3.4.4 Non-substitutability Of Strategic Capabilities......Page 91 3.4.5 Dynamic Capabilities......Page 92 3.5.1 The Value Chain and Value Network......Page 93 3.5.2 Benchmarking......Page 98 3.5.3 Swot......Page 100 Strategic Purpose......Page 108 4.1 Introduction......Page 109 4.2.1 The Governance Chain......Page 110 4.2.2 Different Governance Structures......Page 115 4.3 Corporate Social Responsibility......Page 119 4.3.3 A Forum For Stakeholder Interaction......Page 120 4.3.4 Shapers Of Society......Page 121 4.4 Stakeholder Expectations......Page 124 4.4.1 Stakeholder Mapping......Page 126 4.5.2 Mission and Vision Statements......Page 131 4.5.3 Objectives......Page 133 Culture and Strategy......Page 140 5.1 Introduction......Page 141 5.2 Strategic Drift......Page 142 5.2.2 The Tendency Towards Strategic Drift......Page 144 5.2.4 Transformational Change Or Death......Page 146 5.3 What Is Culture and Why Is It Important?......Page 147 5.3.2 Organisational Culture......Page 148 5.3.4 Culture’s Influence On Strategy......Page 151 5.3.5 Analysing Culture: The Cultural Web......Page 153 5.3.6 Undertaking Cultural Analysis......Page 155 Business-level Strategy......Page 166 6.1 Introduction......Page 167 6.2 Bases Of Competitive Advantage: The ‘strategy Clock’......Page 168 6.2.1 Price-based Strategies (routes 1 and 2)......Page 171 6.2.2 (broad) Differentiation Strategies (route 4)......Page 172 6.2.3 The Hybrid Strategy (route 3)......Page 174 6.2.4 Focused Differentiation (route 5)......Page 175 6.3.1 Sustaining Price-based Advantage......Page 176 6.3.2 Sustaining Differentiation-based Advantage......Page 178 6.3.4 Responding To Competitive Threat......Page 179 6.4 Competition and Collaboration......Page 182 Strategic Directions and Corporate-Level Strategy......Page 190 7.1 Introduction......Page 191 7.2 Strategic Directions......Page 192 7.2.1 Market Penetration......Page 193 7.2.2 Consolidation......Page 194 7.2.3 Product Development......Page 195 7.2.5 Diversification......Page 196 7.3 Reasons For Diversification......Page 198 7.3.1 Related Diversification......Page 201 7.3.2 Unrelated Diversification......Page 203 7.3.3 Diversification and Performance......Page 205 7.4.1 Value-adding and Value-destroying Activities Of Corporate Parents......Page 206 7.5.1 The Growth/share (or Bcg) Matrix......Page 211 7.5.2 The Directional Policy (ge-mckinsey) Matrix......Page 213 International Strategy......Page 222 8.1 Introduction......Page 223 8.2 Internationalisation Drivers......Page 224 8.3.1 Porter’s National Diamond......Page 229 8.3.2 The International Value Network......Page 232 8.4 International Strategies......Page 234 8.5.1 Market Characteristics......Page 237 8.5.2 Competitive Characteristics......Page 239 8.5.3 Entry Modes......Page 242 Strategy Methods and Evaluation......Page 250 9.2 Methods Of Pursuing Strategies......Page 251 9.2.2 Mergers and Acquisitions......Page 252 9.2.3 Strategic Alliances......Page 255 9.3 Strategy Evaluation......Page 259 9.3.1 Suitability......Page 260 9.3.2 Acceptability......Page 265 9.3.3 Feasibility......Page 272 Strategy In Action......Page 280 10.1 Introduction......Page 281 10.2.1 The Functional Structure......Page 282 10.2.2 The Multidivisional Structure......Page 284 10.2.3 The Matrix Structure......Page 286 10.3.1 Direct Supervision......Page 288 10.3.2 Planning Processes......Page 289 10.3.3 Cultural Processes......Page 290 10.3.4 Performance Targeting Processes......Page 292 10.3.5 Market Processes......Page 293 10.4.1 Roles In Managing Change......Page 295 10.4.2 Styles Of Managing Change......Page 297 10.4.3 Levers For Managing Change......Page 300 Glossary......Page 312 Index of Names......Page 318 General Index......Page 321 Fundamentals of Strategy is a brand new concise version of the market-leading text Exploring Corporate Strategy. It has been developed forstudents on short courses in strategy for example, doing an initial course at undergraduate, postgraduate or post-experience level, or studying strategy as part of a wider degree in the arts, sciences or engineering. The book comprises 10 chapters, and focuses on the analysis and formulation of strategy. The final chapter raises implementation issues such as organisational structure, management processes and strategic change Developed for students on short courses in strategy for example, doing an initial course at undergraduate, postgraduate or post-experience level, or studying strategy as part of a wider degree in the arts, sciences or engineering, this book focuses on the analysis and formulation of strategy.