Description
Book SynopsisFoundations of Strategy, second edition is a concise text aimed at both undergraduate and Masters students. Written in an accessible style with the needs of these students in mind, the latest edition has a clear, comprehensive approach, underlined by sound theoretical depth.
Table of ContentsPreface to 2nd edition ix
Preface to 1st edition x
Online teaching and learning resources xi
Case list xii
1 The concept of strategy 1
The role of strategy in success 6
A brief history of strategy 8
Strategy today 11
Strategic management of not‐for‐profit organizations 25
The approach taken in this book 27
2 Industry analysis 39
From environmental analysis to industry analysis 42
The determinants of industry profit: Demand and competition 45
Analysing industry attractiveness 47
Applying industry analysis to forecasting industry profitability 57
Using industry analysis to develop strategy 60
Defining an industry 62
Reviewing the five forces of competition framework 64
Segmentation analysis 66
Dealing with dynamic competition 68
From industry attractiveness to competitive advantage: Identifying key success factors 68
3 Resources and capabilities 81
The role of resources and capabilities in strategy formulation 87
Identifying the organization’s resources and capabilities 89
Appraising resources and capabilities 100
Developing strategy implications 106
4 The nature and sources of competitive advantage 119
How competitive advantage emerges and is sustained 123
Types of competitive advantage: Cost and differentiation 131
Porter’s generic strategies and being ‘stuck in the middle’ 140
5 Industry evolution and strategic change 151
The industry lifecycle 157
Managing organizational adaptation and strategic change 167
Managing strategic change 170
6 Technology‐based industries and the management of innovation 193
Competitive advantage in technology‐intensive industries 198
Strategies to exploit innovation: How and when to enter 204
Competing for standards 210
Implementing technology strategies: Creating the conditions for innovation 215
7 Corporate strategy 233
The scope of the firm 238
Key concepts for analysing firm scope 239
Diversification 241
Vertical integration 249
Managing the corporate portfolio 258
8 Global strategies and the multinational corporation 271
The implications of international competition for industry analysis 277
Analysing competitive advantage in an international context 280
The international location of production 285
How should firms enter foreign markets? 288
Multinational strategies: Global integration vs. national differentiation 292
Strategy and organization within the multinational corporation 297
9 Realizing strategy 309
From strategy to execution 313
Organizational design: The fundamentals of organizing 318
Organizational design: Choosing the right structure 325
Organizational culture 332
10 Current trends in strategic management 343
The new environment of business 344
New directions in strategic thinking 349
Redesigning organizations 354
The changing role of managers 358
Glossary 365
Index 371
