Essentials of Strategic Management

This brief book offers a short, concise explanation of the most important concepts and techniques in Strategic Management. While based on rigorous research studies, the citations and footnotes are minimal. Essentials of Strategic Managementis suitable for use in corporate and executive training programs. Offers a sound introduction to strategic management, focusing on the basic concepts and their applications to the management field. Topics include environmental scanning and industry analysis, strategy formulation: corporate strategy, strategy implementation: organizing for action, among others. For professionals in fields of strategic planning and competitive strategy.

Preface

ix

PART I: INTRODUCTION TO STRATEGIC MANAGEMENT

1

(31)

Basic Concepts of Strategic Management

1

(16)

The Study of Strategic Management

2

(2)

Initiation of Strategy: Triggering Events

4

(1)

Basic Model of Strategic Management

5

(6)

Strategic Decision Making

11

(6)

Corporate Governance and Social Responsibility

17

(15)

Corporate Governance: Role of the Board of Directors

18

(6)

Corporate Governance: Role of Top Management

24

(2)

Social Responsibilities and Ethics in Strategic Decision Making

26

(6)

PART II: SCANNING THE ENVIRONMENT

32

(44)

Environmental Scanning and Industry Analysis

32

(23)

Environmental Scanning

33

(5)

Industry Analysis: Analyzing the Task Environment

38

(10)

Competitive Intelligence

48

(1)

Forecasting

49

(2)

Synthesis of External Factors---EFAS

51

(4)

Internal Scanning: Organizational Analysis

55

(21)

Resource-Based View of the Firm

55

(3)

Business Models

58

(1)

Value-Chain Analysis

59

(2)

Scanning Internal Resources and Capabilities

61

(11)

Synthesis of Internal Factors---IFAS

72

(4)

PART III: STRATEGY FORMULATION

76

(46)

Strategy Formulation: Situation Analysis and Business Strategy

76

(17)

Situational (SWOT) Analysis

76

(4)

Review of Mission and Objectives

80

(1)

Generating Alternative Strategies Using a TOWS Matrix

81

(1)

Business Strategies

82

(11)

Strategy Formulation: Corporate Strategy

93

(16)

Corporate Strategy

94

(1)

Directional Strategy

94

(7)

Portfolio Analysis

101

(4)

Corporate Parenting

105

(4)

Strategy Formulation: Functional Strategy and Strategic Choice

109

(13)

Functional Strategy

110

(4)

The Sourcing Decision: Location of Functions and Competencies

114

(1)

Strategies to Avoid

114

(1)

Strategic Choice: Selection of the Best Strategy

115

(5)

Development of Policies

120

(2)

PART IV: STRATEGY IMPLEMENTATION AND CONTROL

122

(43)

Strategy Implementation: Organizing for Action

122

(16)

What Is Strategy Implementation?

123

(1)

Who Implements Strategy?

123

(1)

What Must Be Done?

124

(1)

How Is Strategy to Be Implemented? Organizing for Action

125

(11)

International Issues in Strategy Implementation

136

(2)

Strategy Implementation: Staffing and Leading

138

(13)

Staffing

139

(4)

Leading

143

(8)

Evaluation and Control

151

(14)

Evaluation and Control in Strategic Management

152

(1)

Measuring Performance

153

(7)

Strategic Information Systems

160

(1)

Guidelines for Proper Control

161

(1)

Strategic Incentive Management

161

(4)

PART V: INTRODUCTION TO CASE ANALYSIS

165

(9)

Suggestions for Case Analysis

165

(9)

The Case Method

165

(1)

Frameworks for Case Analysis

165

(1)

Researching the Case Situation

166

(1)

Financial Analysis: A Place to Begin

166

(6)

Using the Strategic Audit in Case Analysis

172

(2)

Appendix 11.A Suggested Techniques for Case Analysis and Presentation

174

(3)

Case Analysis

174

(1)

Written Report

175

(1)

Oral Presentation by Teams

175

(2)

Appendix 11.B Resources for Case Research

177

(2)

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Essentials of Strategic Management

Summary

Table of Contents

Supplemental Materials