Strategic Management Competitiveness and Globalization: Concepts (with InfoTrac),9780324275308

Strategic Management Competitiveness and Globalization: Concepts (with InfoTrac)

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Edition: 6th
ISBN13: 9780324275308
ISBN10: 0324275307
Format: Paperback
Pub. Date: 2004-02-09
Publisher(s): South-Western College Pub
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Summary

Strategic Management: Competitiveness and Globalization, 6th edition provides the most accurate, relevant, and complete presentation of strategic management today. Authors Michael A. Hitt, R. Duane Ireland, and Robert E. Hoskisson thoroughly revised each chapter, weaving cutting-edge ideas, research, and modern practice to create a presentation that captures the dynamic nature of the field. The authors integrate the traditional industrial organizational model of strategic management with the more modern resource-based view of the firm to explain how firms use the strategic management process to build a sustained competitive advantage. This is the concepts only split of the text.

Table of Contents

Preface ix
Part 1 Strategic Management Inputs 1(99)
Chapter 1 Strategic Management and Strategic Competitiveness
2(34)
Opening Case: The Innovation Pipeline: A Lifeline of Survival In Business
3(4)
The Challenge of Strategic Management
7(1)
The Current Competitive Landscape
8(7)
Strategic Focus: Gliding above the Water, Treading Water, and Drowning
9(1)
The Global Economy
10(1)
The March of Globalization
10(3)
Technology and Technological Changes
13(2)
The I/O Model of Above-Average Returns
15(4)
Strategic Focus: How Do Firms Succeed in a Highly Challenging Economic Environment with Strong Competition? It Is Resources, Stupid!
18(1)
The Resource-Based Model of Above-Average Returns
19(2)
Strategic Intent and Strategic Mission
21(1)
Strategic Intent
21(1)
Strategic Mission
22(1)
Stakeholders
22(4)
Strategic Focus: Is Cisco a Survivor?
23(1)
Classification of Stakeholders
23(3)
Strategic Leaders
26(4)
The Work of Effective Strategic Leaders
27(1)
Predicting Outcomes of Strategic Decisions: Profit Pools
28(1)
The Strategic Management Process
29(1)
Summary
30(1)
Review Questions
31(1)
Experiential Exercises
31(1)
Notes
32(4)
Chapter 2 External Environment: Opportunities, Threats, Industry competition, and Competitor Analysis
36(34)
Opening Case: The Economic Aftermath in High Technology: Will We Ever See the Sun Set?
37(2)
The General, Industry, and Competitor Environments
39(2)
External Environmental Analysis
41(3)
Scanning
42(1)
Monitoring
43(1)
Forecasting
43(1)
Assessing
43(1)
Segments of the General Environment
44(8)
The Demographic Segment
44(2)
The Economic Segment
46(1)
The Political/Legal Segment
46(1)
The Sociocultural Segment
47(1)
The Technological Segment
48(1)
The Global Segment
49(2)
Strategic Focus: War, Rivalry, and General Pestilence: The Airline Industry Is Experiencing Trauma
51(1)
Industry Environment Analysis
52(8)
Threat of New Entrants
53(3)
Bargaining Power of Suppliers
56(1)
Bargaining Power of Buyers
57(1)
Threat of Substitute Products
57(1)
Intensity of Rivalry among Competitors
57(3)
Strategic Focus: Will the Real Media Industry Please Stand Up?
60(1)
Interpreting Industry Analyses
60(1)
Strategic Groups
61(2)
Strategic Focus: It's a Competitive World: Some Succeed and Some Fail
62(1)
Competitor Analysis
63(2)
Summary
65(1)
Review Questions
66(1)
Experiential Exercises
66(1)
Notes
67(3)
Chapter 3 The Internal Environment: Resources, Capabilities, and Core Competencies
70(30)
Opening Case: Technology and Dealer Service: Caterpillar's Sources of Competitive Advantage
71(3)
The Nature of Internal Environmental Analysis
74(5)
The Context of Internal Analysis
74(1)
Creating Value
75(1)
Strategic Focus: Sears, Roebuck and Co.: Still Where America Shops?
76(1)
The Challenge of Internal Analysis
77(2)
Resources, Capabilities, and Core Competencies
79(5)
Resources
79(2)
Capabilities
81(1)
Core Competencies
82(2)
Building Core Competencies
84(7)
Four Criteria of Sustainable Competitive Advantage
84(2)
Strategic Focus: Competitive Parity in the Airline Industry: The Best That Can Be Done?
86(3)
Value Chain Analysis
89(2)
Outsourcing
91(3)
Strategic Focus: The Use of Outsourcing: Nothing but Positive Outcomes?
93(1)
Core Competencies: Cautions and Reminders
94(1)
Summary
95(1)
Review Questions
95(1)
Experiential Exercises
96(1)
Notes
97(3)
Part 2 Strategic Actions: Strategy Formulation 100(202)
Chapter 4 Business-Level Strategy
102(34)
Opening Case: Krispy Kreme-The Michelangelo of Doughnut Making?
103(3)
Customers: Who, What, and How
106(5)
The Importance of Effectively Managing Relationships with Customers
106(1)
Reach, Richness, and Affiliation
107(1)
Who: Determining the Customers to Serve
108(2)
What: Determining Which Customer Needs to Satisfy
110(1)
How: Determining Core Competencies Necessary to Satisfy Customer Needs
110(1)
Types of Business-Level Strategy
111(20)
Strategic Focus: Southwest Airlines' Activity System: Is It Imitable?
112(2)
Cost Leadership Strategy
114(4)
Differentiation Strategy
118(4)
Focus Strategies
122(2)
Strategic Focus: Satisfying Unique Needs: Of Shoes and Cars
124(2)
Integrated Cost Leadership/Differentiation Strategy
126(2)
Strategic Focus: Global Burgers: Are McDonald's Glory Days a Thing of the Past?
128(3)
Summary
131(1)
Review Questions
132(1)
Experiential Exercises
132(1)
Notes
133(3)
Chapter 5 Competitive Rivalry and Competitive Dynamics
136(32)
Opening Case: JetBlue and Song: Competitive Rivalry between Low-Cost Carriers
137(3)
A Model of Competitive Rivalry
140(1)
Competitor Analysis
141(3)
Market Commonality
141(1)
Resource Similarity
142(2)
Drivers of Competitive Actions and Responses
144(2)
Strategic Focus: Toyota and Volkswagen: Direct Competitors or Not?
145(1)
Competitive Rivalry
146(3)
Strategic and Tactical Actions
147(1)
Strategic Focus: Water, Water Everywhere: Which to Drink?
148(1)
Likelihood of Attack
149(5)
First-Mover Incentives
149(1)
Organizational Size
150(2)
Quality
152(2)
Likelihood of Response
154(2)
Type of Competitive Action
154(1)
Actor's Reputation
154(1)
Dependence on the Market
155(1)
Competitive Dynamics
156(6)
Slow-Cycle Markets
156(1)
Fast-Cycle Markets
157(2)
Standard-Cycle Markets
159(1)
Strategic Focus: Teradyne Inc.: Life in the Fast Lane
160(2)
Summary
162(1)
Review Questions
163(1)
Experiential Exercises
163(1)
Notes
164(4)
Chapter 6 Corporate-Level Strategy
168(32)
Opening Case: Sony's Chairman Idei Seeks to Foster Related Diversification
169(2)
Levels of Diversification
171(2)
Low Levels of Diversification
171(2)
Moderate and High Levels of Diversification
173(1)
Reasons for Diversification
173(1)
Related Diversification
174(8)
Operational Relatedness: Sharing Activities
175(1)
Corporate Relatedness: Transferring of Core Competencies
176(1)
Strategic Focus: Cendant: A Diversified Service Conglomerate
177(2)
Market Power
179(2)
Strategic Focus: Johnson & Johnson Seeks to Combine Diagnostic Devices and Drugs
181(1)
Simultaneous Operational Relatedness and Corporate Relatedness
182(1)
Unrelated Diversification
182(3)
Efficient Internal Capital Market Allocation
183(1)
Restructuring
184(1)
Diversification: Incentives and Resources
185(6)
Incentives to Diversify
185(1)
Strategic Focus: Yahoo!'s Low Performance and Uncertain Future Have Led to Strategic Diversification
186(4)
Resources and Diversification
190(1)
Managerial Motives to Diversify
191(2)
Summary
193(1)
Review Questions
194(1)
Experiential Exercises
194(1)
Notes
195(5)
Chapter 7 Acquisition and Restructuring Strategies
200(32)
Opening Case: Comparing the Acquisition Strategies of News Corp. and AOL Time Warner
201(2)
The Popularity of Merger and Acquisition Strategies
203(1)
Mergers, Acquisitions, and Takeovers: What Are the Differences?
204(1)
Reasons for Acquisitions
204(7)
Increased Market Power
204(1)
Strategic Focus: Oracle Tries to Build Market Power through Acquisition of PeopleSoft
205(2)
Overcoming Entry Barriers
207(1)
Cost of New Product Development and Increased Speed to Market
208(1)
Lower Risk Compared to Developing New Products
209(1)
Increased Diversification
209(1)
Reshaping the Firm's Competitive Scope
210(1)
Learning and Developing New Capabilities
210(1)
Problems in Achieving Acquisition Success
211(6)
Integration Difficulties
212(1)
Inadequate Evaluation of Target
212(1)
Large or Extraordinary Debt
213(1)
Inability to Achieve Synergy
213(1)
Strategic Focus: Consolidation in the Global Beer Industry and Firms Overpaying for Acquisitions
214(1)
Too Much Diversification
215(1)
Managers Overly Focused on Acquisitions
216(1)
Too Large
217(1)
Effective Acquisitions
217(3)
Restructuring
220(5)
Downsizing
220(1)
Downscoping
220(1)
Leveraged Buyouts
221(1)
Strategic Focus: Leveraged Buyouts and Private Equity Restructuring Deals Experience a Revival
222(1)
Restructuring Outcomes
223(2)
Summary
225(1)
Review Questions
225(1)
Experiential Exercises
226(1)
Notes
227(5)
Chapter 8 International Strategy
232(36)
Opening Case: China: Manufacturer for the World
233(3)
Identifying International Opportunities: Incentives to
Use an International Strategy
236(3)
Increased Market Size
237(1)
Return on Investment
238(1)
Economies of Scale and Learning
238(1)
Location Advantages
239(1)
International Strategies
239(7)
International Business-Level Strategy
239(3)
International Corporate-Level Strategy
242(3)
Strategic Focus: Large U.S. Auto Manufacturers and the Transnational Strategy
245(1)
Environmental Trends
246(3)
Liability of Foreignness
246(1)
Strategic Focus: Uncertainty, Liability of Foreignness, and Regionalization
247(1)
Regionalization
248(1)
Choice of International Entry Mode
249(4)
Exporting
249(1)
Licensing
250(1)
Strategic Alliances
250(1)
Acquisitions
251(1)
New Wholly Owned Subsidiary
252(1)
Dynamics of Mode of Entry
253(1)
Strategic Competitiveness Outcomes
253(3)
International Diversification and Returns
254(1)
International Diversification and Innovation
254(1)
Complexity of Managing Multinational Firms
255(1)
Risks In an International Environment
256(4)
Political Risks
256(1)
Economic Risks
256(1)
Limits to International Expansion: Management Problems
256(2)
Strategic Focus: Intellectual Property Rights in China and Southeast Asia
258(2)
Summary
260(1)
Review Questions
261(1)
Experiential Exercises
261(2)
Notes
263(5)
Chapter 9 Cooperative Strategy
268(34)
Opening Case: Alliances In Response to Rivalry: Telecommunication versus Cable Firms
269(2)
Strategic Alliances as a Primary Type of Cooperative Strategy
271(5)
Three Types of Strategic Alliances
271(1)
Reasons Firms Develop Strategic Alliances
272(4)
Business-Level Cooperative Strategy
276(6)
Complementary Strategic Alliances
276(2)
Competition Response Strategy
278(1)
Uncertainty Reducing Strategy
278(1)
Strategic Focus: Competition Response Alliances in the Media Content, Internet, Software, and Cell Phone Equipment Industries
279(1)
Competition Reducing Strategy
280(1)
Assessment of Business-Level Cooperative Strategies
281(1)
Corporate-Level Cooperative Strategy
282(3)
Diversifying Strategic Alliance
282(1)
Synergistic Strategic Alliance
283(1)
Franchising
283(1)
Assessment of Corporate-Level Cooperative Strategies
284(1)
International Cooperative Strategy
285(3)
Strategic Focus: Cross-Border Alliances Battle to Win the President's Entourage: S-92 versus EH101 Helicopters
286(2)
Network Cooperative Strategy
288(1)
Alliance Network Types
288(1)
Competitive Risks with Cooperative Strategies
289(3)
Strategic Focus: Rivalry and Mistrust: Failure and Success of Music Industry Alliances
290(2)
Managing Cooperative Strategies
292(1)
Summary
293(1)
Review Questions
294(1)
Experimental Exercises
295(1)
Notes
296(6)
Part 3 Strategic Actions: Strategy Implementation 302
Chapter 10 Corporate Governance
304(34)
Opening Case: Corporate Governance and CEO Pay: Has Controversy Changed Compensation Practices?
305(3)
Separation of Ownership and Managerial Control
308(5)
Agency Relationships
309(1)
Product Diversification as an Example of an Agency Problem
310(2)
Agency Costs and Governance Mechanisms
312(1)
Ownership Concentration
313(3)
The Growing Influence of Institutional Owners
313(1)
Shareholder Activism: How Much Is Possible?
314(1)
Strategic Focus: The Growing Activism of Shareholders
315(1)
Board of Dßrectors
316(4)
Enhancing the Effectiveness of the Board of Directors
318(1)
Strategic Focus: Controversy in the Boardroom
319(1)
Executive Compensation
320(3)
A Complicated Governance Mechanism
321(1)
The Effectiveness of Executive Compensation
322(1)
Market for Corporate Control
323(2)
Managerial Defense Tactics
324(1)
International Corporate Governance
325(4)
Strategic Focus: Corporate Governance Is Changing across the World
326(1)
Corporate Governance in Germany
327(1)
Corporate Governance in Japan
328(1)
Global Corporate Governance
329(1)
Governance Mechanisms and Ethical Behavior
329(1)
Summary
330(1)
Review Questions
331(1)
Experimental Exercises
331(1)
Notes
332(6)
Chapter 11 Organizational Structure and Controls
338(34)
Opening Case: Amaze Entertainment: Bringing Video-Game Excitement Directly to You!
339(2)
Organizational Structure and Controls
341(3)
Organizational Structure
341(1)
Organizational Controls
342(1)
Strategic Focus: Effective Timing of Structural Change at Eastman Chemical Company
343(1)
Relationships between Strategy and Structure
344(1)
Evolutionary Patterns of Strategy and Organizational Structure
345(19)
Simple Structure
346(1)
Functional Structure
346(1)
Multidivisional Structure
347(1)
Matches between Business-Level Strategies and the Functional Structure
348(2)
Strategic Focus: Thinking Globally, Acting Locally: The Foundations of Procter & Gamble's Multidivisional Structure
350(2)
Matches between Corporate-Level Strategies and the Multidivisional Structure
352(5)
Strategic Focus: United Technologies Corp.: Where Strategy and Structure Are Matched
357(1)
Matches between International Strategies and Worldwide Structures
358(4)
Matches between Cooperative Strategies and Network Structures
362(2)
Implementing Business-Level Cooperative Strategies
364(1)
Implementing Corporate-Level Cooperative Strategies
364(1)
Implementing International Cooperative Strategies
365(1)
Summary
366(1)
Review Questions
367(1)
Experiential Exercises
367(2)
Notes
369(3)
Chapter 12 Strategic Leadership
372(34)
Opening Case: Strategic Leadership: The Good, the Bad, and the Guilty
373(3)
Strategic Leadership
376(1)
Managers as an Organizational Resource
377(4)
Top Management Teams
379(2)
Managerial Labor Market
381(4)
Strategic Focus: The Times Are Changing: Is Wonder Woman Still Required for Top Executive Positions in the 21st Century?
382(3)
Key Strategic Leadership Actions
385(9)
Determining Strategic Direction
385(1)
Effectively Managing the Firm's Resource Portfolio
386(1)
Strategic Focus: Changing the House That Jack Built-A New GE
387(3)
Sustaining an Effective Organizational Culture
390(1)
Emphasizing Ethical Practices
391(1)
Strategic Focus: As Corporate Scandals and Ethical Dilemmas Proliferate, Heads Roll
392(2)
Establishing Balanced Organizational Controls
394(3)
Summary
397(1)
Review Questions
398(1)
Experiential Exercises
399(1)
Notes
400(6)
Chapter 13 Strategic Entrepreneurship
406
Opening Case: Entrepreneurial Success: It Can Happen Anywhere, Anytime
407(2)
Strategic Entrepreneurship and Innovation
409(3)
Strategic Focus: Social Entrepreneurship: Innovative, Proactive, Risk-oriented, and Purposeful
410(1)
Innovation
411(1)
Entrepreneurs and Entrepreneurial Capabilities
412(1)
International Entrepreneurship
413(1)
New Product Development and Internal Corporate Ventures
414(2)
Incremental and Radical Innovation
414(1)
Autonomous Strategic Behavior
415(1)
Induced Strategic Behavior
416(1)
Implementing New Product Development and Internal Ventures
416(3)
Cross-Functional Product Development Teams
417(1)
Facilitating Integration and Innovation
418(1)
Creating Value from Innovation
418(1)
Cooperative Strategies for Entrepreneurship and Innovation
419(2)
Strategic Focus: Partnering to Innovate
420(1)
Acquisitions to Buy Innovation
421(1)
Capital for Entrepreneurial Ventures
421(2)
Strategic Focus: Acquisitions as a Pathway to Innovation
422(1)
Creating Value through Strategic Entrepreneurship
423(1)
Summary
424(1)
Review Questions
425(1)
Experiential Exercises
425(1)
Notes
426
Introduction: Preparing an Effective Case Analysis C-1
Name Index I-1
Company Index I-15
Subject Index I-19

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