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Strategic Management

264 pages
This highly popular introduction to strategic management has now been revised to take account of the latest developments in the field.

  • New edition of a highly popular introduction to strategic management.
  • Provides a clear framework for understanding the issues in corporate strategy, supported by current case examples.
  • Revised to take account of the latest development in the field.
  • Now features twelve new cases.
  • Includes new chapters on issues relating to the resource-based view of the firm, innovation, learning, and the ‘new economy’.
  • Includes a new concluding chapter looking at present and future issues in strategic management.
  • Continues to combine the latest management concepts with and emphasis on current business applications and implementation.
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List of figures List of tables List of exhibits Preface
Introduction: What is Strategic Management?
What is strategy?
Two approaches to strategy
Elements of strategy
Our model of strategy
The growth vector Mission statements Identity Theory of the business Strategy evaluation
The book in brief
Situation Analysis: the Firm and its Environment
What do we mean by ‘environment’?
How does one analyse the environment?
Scanning the general environment
The nature of the environment
ix x xi xii
1 1 2 2 4 7 10 14 15 16 17
18 18 19 20 22
Structural analysis of the competitive environment
Identifying the firm’s competitive position
The internal environment: resources and capabilities
SWOT analysis Conclusion
Businesslevel Strategy
Strategic choice
Competitive strategies
Gaining competitive advantage
Competitive advantage through resources and capabilities
Market turbulence and hypercompetition
Dealing with the opposition Conclusion
Corporatelevel Strategy
Strategic considerations
Directional strategies
Methods of development
Portfolio strategies
Parenting strategies
Selecting appropriate strategies
Corporate objectives
Organization and Strategy
Organizational issues and strategy
Peters and Waterman’s excellent organizations
Japanese organizations and strategic management
Strategic human resource management
Magic kingdoms?
Critical voices
New perspectives on excellence:
Built to Last
Organization design: strategy and structure
andGood to Great
26 32 41 46 49
51 51 52 62 70 74 80 83
86 86 87 97 100 104 111 112
121 121 122 125
128 134 137 138 140
Structuring for complexity Parenting Competition and co-operation
The Management of Strategic Change
Triggers for change
Radical change
The incremental approach to change
Radical and incremental change compared
Strategy subsystems
Managing change
The innovating organization
Organizational development and strategy
Change in service environments
Strategic management and leadership
Leaders and leadership
Leadership means change
The Future of Strategy: Competence and Responsibility Competence Competence, organization and human resources
Future excellence
The future of strategy
Software wars: Davidsv. Goliath
Strategy and responsibility Epilogue Final thought
Case Studies
What business are we in? Boots: the journey to well-being
The sad fate of the dodo
Home Depot in the midst of transformation
The National Health Service: a case of too many trusts?
144 146 149
151 151 152 153 154 155 157 159 161 163 165 169 173
176 176 178 180 184 184 187 191 193
194 194 197 198 202
Nokia: a great company in a turbulent market
Rexam: a classic transformation
Sainsbury: stuck in the middle again
Sony: Idei’s vision
GE: the leadership practices of Jack Welch
Xerox: capabilities discovered but not developed
References Index
206 209 212 217 221 225
229 234