Contents
Introduction 1
Cover 2
Part 1. Strategic Management Overview
What's in it for Me? 5
What Is Strategic Management? 6
Intended and Realized Strategies 13
KEY TAKEAWAY 17
EXERCISES 18
Essential Unit Vocabu
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Contents
Introduction 1
Cover 2
Part 1. Strategic Management Overview
What's in it for Me? 5
What Is Strategic Management? 6
Intended and Realized Strategies 13
KEY TAKEAWAY 17
EXERCISES 18
Essential Unit Vocabulary 19
Part 2. Corporate Governance
What's in it for Me? 23
What Is Corporate Governance? 24
The Evolution of the Modern Corporation 27
The U.S. Corporate Governance System 30
Corporate Governance in America: A Brief History 37
Purpose and Direction of the Firm 42
KEY TAKEAWAY 43
Essential Unit Vocabulary 44
Part 3. The External Environment
What's in it for Me? 49
The General Environment (PESTEL) 50
Analyzing the Organization’s Microenvironment 53
KEY TAKEAWAY 66
EXERCISES 67
Essential Unit Vocabulary 68
Part 4. Internal Capability
What's in it for Me? 73
Operational Excellence 74
Internal Analysis 76
VRIO Analysis 83
Organizational Control 89
KEY TAKEAWAY 95
EXERCISES 96
Essential Unit Vocabulary 97
Part 5. Business-level Strategy
What's in it for Me? 101
What is Strategic Focus? 102
Strategy as Trade-Offs 103
Strategy as Discipline 110
Generating Advantage 114
KEY TAKEAWAY 123
EXERCISES 124
Essential Unit Vocabulary 125
Part 6. Formulating Strategy
What's in it for Me? 129
The Strategy Diamond 130
Competitor Analysis Framework 138
Types of Rivalry 139
KEY TAKEAWAY 143
EXERCISES 144
Essential Unit Vocabulary 145
Part 7. Corporate-level Strategy
What's in it for Me? 149
Business- vs. Corporate-level Strategy 150
Concentration Strategies 151
Horizontal Integration: Mergers and Acquisitions 154
Vertical Integration Strategies 156
Diversification Strategies 158
Strategies for Getting Smaller 161
Portfolio Planning and CLS 163
KEY TAKEAWAY 166
EXERCISES 167
Essential Unit Vocabulary 168
Part 8. Analysis and Reporting
What's in it for Me? 173
Strategy Analysis Framework (SAF) 174
Sample Client Report 180
Index to Tools and Models Used in the Textbook 181
Publication History 183
Creative Commons License 184
Recommended Citations 185
Versioning 187
Introduction
This open source textbook is derived from many sources, initially from the Principles of Management by Carpenter, Bauer, and Erdogan, but there is abundant new content as well. It is published under a Creative Commons license and as such there is no charge ever for this textbook.
The most important change from 1e is that static content was removed to make room for student-generated dynamic content. Throughout the book look for the names of contributing students in the red colored example boxes. As the term progresses, you will see new examples appear as fellow students research and summarize topics for current events, all are curated by the instructor.
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