BOOK
Strategic Management and Business Policy: Globalization, Innovation and Sustainability, Global Edition
Thomas L. Wheelen | J. David Hunger | Alan N. Hoffman | Charles E. Bamford
(2017)
Additional Information
Book Details
Abstract
For courses in Strategic Management and Business Policy.
Utilize a strategic management model to learn and apply key concepts through cases
Picking up where the popular previous editions left off, Strategic Management and Business Policy: Globalization, Innovation and Sustainability, 15th Edition further sharpens and modernizes this classic text’s approach to teaching strategy with an emphasis on globalization, innovation, and sustainability. Throughout, the authors equip students with the strategic concepts they will need to know as they face the issues that all organizations must build upon to push their businesses forward. In this edition, Alan Hoffman and Chuck Bamford bring a fresh perspective to this extraordinarily well-researched and practically crafted lesson. Also included is a new chapter on Global Strategy, along with new vignettes and comprehensive, real-world case studies.
Pearson MyLabTM Management not included. Students, if Pearson MyLab Management is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. Pearson MyLab Management should only be purchased when required by an instructor. Instructors, contact your Pearson rep for more information.
Pearson MyLab Management is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Cover | Cover | ||
| Brief Contents | 5 | ||
| Contents | 6 | ||
| Preface | 21 | ||
| About the Authors | 29 | ||
| Part One Introduction to Strategic Management and Business Policy | 33 | ||
| Chapter 1 Basic Concepts of Strategic Management | 34 | ||
| The Study of Strategic Management | 37 | ||
| Phases of Strategic Management | 37 | ||
| Benefits of Strategic Management | 38 | ||
| Globalization, Innovation, and Sustainability: Challenges to Strategic Management | 39 | ||
| Impact of Globalization | 40 | ||
| Impact of Innovation | 41 | ||
| Global Issue: Asean: Regional Trade Associations | 42 | ||
| Impact of Sustainability | 42 | ||
| Theories of Organizational Adaptation | 44 | ||
| Creating a Learning Organization | 44 | ||
| Basic Model of Strategic Management | 46 | ||
| Environmental Scanning | 46 | ||
| Strategy Formulation | 48 | ||
| Strategy Implementation | 52 | ||
| Evaluation and Control | 53 | ||
| Feedback/learning Process | 54 | ||
| Initiation of Strategy: Triggering Events | 54 | ||
| Strategic Decision Making | 55 | ||
| What Makes a Decision Strategic? | 55 | ||
| Mintzberg’s Modes of Strategic Decision Making | 56 | ||
| Strategic Decision-making Process: Aid to Better Decisions | 57 | ||
| The Strategic Audit: Aid to Strategic Decision Making | 58 | ||
| End of Chapter Summary | 59 | ||
| Appendix 1.A Strategic Audit of a Corporation\r | 64 | ||
| Chapter 2 Corporate Governance | 72 | ||
| Role of the Board of Directors | 75 | ||
| Responsibilities of the Board | 76 | ||
| Board of Directors Composition | 79 | ||
| Innovation Issue: Jcpeney and Innovation | 80 | ||
| Strategy Highlight: Agency Theory Versus Stewardship Theory in Corporate Governance | 81 | ||
| Nomination and Election of Board Members | 85 | ||
| Organization of the Board | 86 | ||
| Impact of Sarbanes–Oxley on U.S. Corporate Governance\r | 87 | ||
| Global Issue: Global Busines Board Activism at Yaho! | 88 | ||
| Improving Governance | 89 | ||
| Evaluating Governance | 89 | ||
| Avoiding Governance Improvements | 90 | ||
| Trends in Corporate Governance | 90 | ||
| The Role of Top Management | 91 | ||
| Responsibilities of Top Management | 92 | ||
| Sustainability Issue: Ceo Pay and Corporate Performance | 92 | ||
| End of Chapter Summary | 95 | ||
| Chapter 3 Social Responsibility and Ethics in Strategic Management | 102 | ||
| Social Responsibilities of Strategic Decision Makers | 104 | ||
| Responsibilities of a Business Firm | 104 | ||
| Sustainability | 107 | ||
| Sustainability Issue: Marks & Spencer Leads the Way | 108 | ||
| Corporate Stakeholders | 108 | ||
| Stakeholder Analysis | 109 | ||
| Strategy Highlight: Johnson & Johnson Credo | 111 | ||
| Ethical Decision Making | 111 | ||
| Some Reasons for Unethical Behavior | 112 | ||
| Global Issue: How Rule-based and Relationship-based Governance Systems Affect Ethical Behavior | 113 | ||
| Innovation Issue: Turning a Need into a Busines to Solve the Need | 115 | ||
| Encouraging Ethical Behavior | 116 | ||
| Views on Ethical Behavior | 117 | ||
| End of Chapter Summary | 119 | ||
| Part Two Scanning the Environment | 123 | ||
| Chapter 4 Environmental Scanning and Industry Analysis | 124 | ||
| Aspects of Environmental Scanning | 126 | ||
| Identifying External Environmental Variables | 127 | ||
| Sustainability Issue: Gren Supercars | 128 | ||
| Strategic Importance of the External Environment | 129 | ||
| Scanning the Societal Environment: Steep Analysis | 129 | ||
| Global Issue: Suvs Power on in China | 137 | ||
| Identifying External Strategic Factors | 139 | ||
| Industry Analysis: Analyzing the Task Environment | 139 | ||
| Porter’s Approach to Industry Analysis | 140 | ||
| Industry Evolution | 144 | ||
| Categorizing International Industries | 144 | ||
| Innovation Issue: Taking Stock of an Obsesion | 145 | ||
| International Risk Assessment | 146 | ||
| Strategic Groups | 146 | ||
| Strategic Types | 147 | ||
| Hypercompetition | 148 | ||
| Using Key Success Factors to Create an Industry Matrix | 149 | ||
| Competitive Intelligence | 150 | ||
| Sources of Competitive Intelligence | 151 | ||
| Strategy Highlight Evaluating Competitive Inteligence | 152 | ||
| Monitoring Competitors for Strategic Planning | 153 | ||
| Forecasting | 154 | ||
| Danger of Assumptions | 154 | ||
| Useful Forecasting Techniques | 154 | ||
| The Strategic Audit: A Checklist for Environmental Scanning\r | 156 | ||
| Synthesis of External Factors | 156 | ||
| End of Chapter Summary | 158 | ||
| Chapter 5 Organizational Analysis and Competitive Advantage | 164 | ||
| A Resource-based Approach to Organizational Analysis—Vrio\r | 166 | ||
| Core and Distinctive Competencies | 166 | ||
| Using Resources/capabilities to Gain Competitive Advantage | 169 | ||
| Business Models | 170 | ||
| Value-Chain Analysis\r | 172 | ||
| Industry Value-chain Analysis | 172 | ||
| Corporate Value-Chain Analysis\r | 174 | ||
| Scanning Functional Resources and Capabilities | 175 | ||
| Basic Organizational Structures | 175 | ||
| Culture | 177 | ||
| Global Issue: Managing Corporate Culture for Global Competitive Advantage: Abb Vs. Panasonic | 179 | ||
| Strategic Marketing Issues | 179 | ||
| Innovation Issue: Docomo Moves Against the Grain | 181 | ||
| Strategic Financial Issues | 182 | ||
| Strategic Research and Development (R&D) Issues\r | 183 | ||
| Strategic Operations Issues | 185 | ||
| Strategic Human Resource Management (HRM) Issues\r | 187 | ||
| Strategic Information Systems/Technology Issues\r | 189 | ||
| Sustainability Issue: The Olympic Games—London 2012/Sochi 2014/Rio 2016 & Tokyo 2020\r | 190 | ||
| The Strategic Audit: a Checklist for Organizational Analysis | 192 | ||
| Synthesis of Internal Factors (IFAS)\r | 192 | ||
| End of Chapter Summary | 194 | ||
| Part Three Strategy Formulation | 199 | ||
| Chapter 6 Strategy Formulation: Business Strategy | 200 | ||
| A Framework for Examining Business Strategy | 202 | ||
| Generating a Strategic Factors Analysis Summary (SFAS) Matrix\r | 203 | ||
| Finding Market Niches | 205 | ||
| Mission and Objectives | 206 | ||
| Business Strategies | 207 | ||
| Porter’s Competitive Strategies | 207 | ||
| Global Issue: Has Emirates Reached the Limit of Globalization? | 209 | ||
| Innovation Issue: Cheg and Colege Textboks | 212 | ||
| Sustainability Issue: Strategic Sustainability—ESPN\r | 214 | ||
| Cooperative Strategies | 215 | ||
| Strategic Alliances | 216 | ||
| End of Chapter Summary | 220 | ||
| Chapter 7 Strategy Formulation: Corporate Strategy | 224 | ||
| Corporate Strategy | 226 | ||
| Directional Strategy | 226 | ||
| Growth Strategies | 227 | ||
| Strategy Highlight: Transaction Cost Economics Analyzes Vertical Growth Strategy | 230 | ||
| Global Issue: Global Expansion Is Not Always a Path to Growth | 232 | ||
| Controversies in Directional Growth Strategies | 233 | ||
| Stability Strategies | 234 | ||
| Retrenchment Strategies | 235 | ||
| Portfolio Analysis | 237 | ||
| Bcg Growth-share Matrix | 238 | ||
| Sustainability Issue: General Motors and The Electric Car \r | 240 | ||
| Advantages and Limitations of Portfolio Analysis | 241 | ||
| Managing a Strategic Alliance Portfolio | 241 | ||
| Corporate Parenting | 242 | ||
| Innovation Issue: To Red Hat or Not?\r | 243 | ||
| Developing a Corporate Parenting Strategy | 244 | ||
| Horizontal Strategy and Multipoint Competition | 244 | ||
| End of Chapter Summary | 245 | ||
| Chapter 8 Strategy Formulation: Functional Strategy and Strategic Choice | 250 | ||
| Functional Strategy | 252 | ||
| Marketing Strategy | 252 | ||
| Financial Strategy | 254 | ||
| Research and Development (r&d) Strategy | 255 | ||
| Operations Strategy | 256 | ||
| Global Issue: Why Is Starbucks Afraid of Italy? | 257 | ||
| Purchasing Strategy | 258 | ||
| Sustainability Issue: How Hot Is Hot? | 259 | ||
| Innovation Issue: When an Innovation Fails to Live Up to Expectations | 260 | ||
| Logistics Strategy | 261 | ||
| Human Resource Management (HRM) Strategy\r | 261 | ||
| Information Technology Strategy | 262 | ||
| The Sourcing Decision: Location of Functions | 262 | ||
| Strategies to Avoid | 265 | ||
| Strategic Choice: Constructing Scenarios | 265 | ||
| Constructing Corporate Scenarios | 266 | ||
| The Process of Strategic Choice | 271 | ||
| Using Policies to Guide Strategic Choices | 273 | ||
| End of Chapter Summary | 273 | ||
| Part Four Strategy Implementation and Control | 279 | ||
| Chapter 9 Strategy Implementation: Global Strategy | 280 | ||
| International Entry | 282 | ||
| International Coordination | 284 | ||
| International Strategic Alliances | 285 | ||
| Stages of International Development | 285 | ||
| International Employment | 286 | ||
| Measurement of Performance | 288 | ||
| End of Chapter Summary | 290 | ||
| Chapter 10 Strategy Implementation: Organizing and Structure | 294 | ||
| Strategy Implementation | 296 | ||
| Who Implements Strategy? | 297 | ||
| What Must Be Done? | 297 | ||
| Developing Programs, Budgets, and Procedures | 297 | ||
| Sustainability Issue: A Beter Botle—Ecologic Brands\r | 298 | ||
| Achieving Synergy | 302 | ||
| How Is Strategy to Be Implemented? Organizing for Action | 303 | ||
| Structure Follows Strategy | 303 | ||
| Stages of Corporate Development | 304 | ||
| Innovation Issue: The P&G Innovation Machine Stumbles\r | 305 | ||
| Organizational Life Cycle | 309 | ||
| Flexible Types of Organizational Structure | 310 | ||
| The Matrix Structure | 310 | ||
| Network Structure—The Virtual Organization\r | 312 | ||
| Global Issue: Outsourcing Comes Ful Circle | 313 | ||
| Cellular/Modular Organization: A New Type of Structure?\r | 314 | ||
| Reengineering and Strategy Implementation | 314 | ||
| Six Sigma | 315 | ||
| Designing Jobs to Implement Strategy | 316 | ||
| Centralization Versus Decentralization | 317 | ||
| End of Chapter Summary | 318 | ||
| Chapter 11 Strategy Implementation: Staffing and Directing | 324 | ||
| Staffing | 326 | ||
| Staffing Follows Strategy | 327 | ||
| Selection and Management Development | 329 | ||
| Innovation Issue: How to Kep Apple “cool” | 329 | ||
| Problems in Retrenchment | 331 | ||
| Leading | 333 | ||
| Managing Corporate Culture | 333 | ||
| Sustainability Issue: Panera and the “Panera Cares Comunity Café\r | 334 | ||
| Action Planning | 338 | ||
| Management by Objectives | 340 | ||
| Total Quality Management | 341 | ||
| Global Issue: Cultural Diferences Create Implementation Problems in Merger | 342 | ||
| End of Chapter Summary | 342 | ||
| Chapter 12 Evaluation and Control | 348 | ||
| Measuring Performance | 350 | ||
| Appropriate Measures | 350 | ||
| Types of Controls | 351 | ||
| Innovation Issue: Solar Power and The Grid\r | 352 | ||
| Activity-Based Costing\r | 353 | ||
| Enterprise Risk Management | 354 | ||
| Primary Measures of Corporate Performance | 354 | ||
| Sustainability Issue: The End of the Cash Register Receipt\r | 357 | ||
| Balanced Scorecard Approach: Using Key Performance Measures | 358 | ||
| Primary Measures of Divisional and Functional Performance | 360 | ||
| Responsibility Centers | 360 | ||
| Using Benchmarking to Evaluate Performance | 362 | ||
| Global Issue: Counterfeit Goods and Pirated Software: A Global Problem\r | 363 | ||
| Strategic Information Systems | 363 | ||
| Enterprise Resource Planning | 364 | ||
| Radio Frequency Identification and Near Field Communication | 364 | ||
| Divisional and Functional Is Support | 365 | ||
| Problems in Measuring Performance | 365 | ||
| Short-Term Orientation\r | 366 | ||
| Goal Displacement | 367 | ||
| Guidelines for Proper Control | 368 | ||
| Aligning Incentives | 369 | ||
| End of Chapter Summary | 371 | ||
| Part Five Introduction to Case Analysis | 377 | ||
| Chapter 13 Suggestions for Case Analysis | 378 | ||
| The Case Method | 380 | ||
| Researching the Case Situation | 380 | ||
| Financial Analysis: a Place to Begin | 381 | ||
| Analyzing Financial Statements | 381 | ||
| Common-Size Statements\r | 385 | ||
| Z-Value and the Index of Sustainable Growth\r | 385 | ||
| Useful Economic Measures | 386 | ||
| Format for Case Analysis: the Strategic Audit | 386 | ||
| End of Chapter Summary | 389 | ||
| Appendix 13.A Resources for Case Research\r | 391 | ||
| Appendix 13.B Suggested Case Analysis Methodology Using the Strategic Audit\r | 393 | ||
| Appendix 13.C Example of Student-written Strategic Audit\r | 396 | ||
| Part Six Cases in Strategic Management | 1-1 | ||
| Section A Executive Leadership\r | 1-7 | ||
| Case 1 The Recalcitrant Director at Byte Products, Inc.: Corporate Legality Versus Corporate Responsibility\r | 1-7 | ||
| Case 2 The Wallace Group\r | 2-1 | ||
| Section B Business Ethics | 3-1 | ||
| Case 3 Everyone Does It | 3-1 | ||
| Case 4 The Audit\r | 4-1 | ||
| Section C Corporate Governance and Social Responsibility | 5-1 | ||
| Case 5 Early Warning or False Sense of Security? Concussion Risk and the Case of the Impact-Sensing Football Chinstrap\r | 5-1 | ||
| Case 6 The Storm of Governance Reform at the American Red Cross\r | 6-1 | ||
| Case 7 Chipotle Mexican Grill, Inc.: Conscious Capitalism by Serving “Food with Integrity”\r | 7-1 | ||
| Section D Privacy | 8-1 | ||
| Case 8 Google and the Right to Be Forgotten | 8-1 | ||
| Section E International Issues in Strategic Management | 9-1 | ||
| Case 9 Harley Davidson: an Overreliance on Aging Baby Boomers | 9-1 | ||
| Case 10 Uber: Feeling the Heat from Competitors and Regulators Worldwide | 10-1 | ||
| Section F General Issues in Strategic Management | 11-1 | ||
| Industry One: Internet Companies | 11-1 | ||
| Case 11 Pandora Internet Radio (2014): Just Press Play | 11-1 | ||
| Case 12 Amazon.com, Inc.: Retailing Giant to High-Tech Player? \r | 12-1 | ||
| Case 13 Blue Nile, Inc.: “Stuck in the Middle” of the Diamond Engagement Ring Market\r | 13-1 | ||
| Industry Two: Entertainment and Leisure | 14-1 | ||
| Case 14 Groupon Inc.: Daily Deal or Lasting Success? | 14-1 | ||
| Case 15 Netflix Inc.: the 2011 Rebranding/price Increase Debacle | 15-1 | ||
| Case 16 Town Sports International Holdings, Inc.: Unsquashable | 16-1 | ||
| Case 17 Zynga, Inc. (2011): Whose Turn Is It? | 17-1 | ||
| Industry Three: Food and Beverage | 18-1 | ||
| Case 18 the Boston Beer Company: Brewers of Samuel Adams Boston Lager (mini Case) | 18-1 | ||
| Case 19 Panera Bread Company (2010): Still Rising Fortunes? | 19-1 | ||
| Case 20 Whole Foods Market (2010): How to Grow in an Increasingly Competitive Market? (Mini Case)\r | 20-1 | ||
| Case 21 Burger King (Mini Case)\r | 21-1 | ||
| Case 22 Sonic Restaurants: Does Its Drive-in Business Model Limit Future Growth Potential? | 22-1 | ||
| Case 23 “Breaking Up Is Hard to Do”: Pepsico in 2014\r | 23-1 | ||
| Industry Four: Apparel | 24-1 | ||
| Case 24 Under Armour | 24-1 | ||
| Case 25 Toms Shoes (Mini Case)\r | 25-1 | ||
| Case 26 J.C. Penney Company, Inc.: Surviving the Ron Johnson (CEO) Era\r | 26-1 | ||
| Industry Five: Retailing | 27-1 | ||
| Case 27 Best Buy Co. Inc. (2009): A Sustainable Customer-Centricity Model?\r | 27-1 | ||
| Case 28 Target Corp’s Tarnished Reputation: Failure in Canada and a Massive Data Breach | 28-1 | ||
| Case 29 Staples: the Fierce Battle Between Brick and Mortar Vs. Online Sales | 29-1 | ||
| Industry Six: Transportation | 30-1 | ||
| Case 30 Tesla Motors, Inc.: The First U.S. Car Company IPO Since 1956\r | 30-1 | ||
| Case 31 Tomtom: New Competition Everywhere! | 31-1 | ||
| Industry Seven: Manufacturing | 32-1 | ||
| Case 32 General Electric, Ge Capital, and the Financial Crisis of 2008: the Best of the Worst in the Financial Sector? | 32-1 | ||
| Case 33 Snap-on Tools: a Victim of Its Own Success | 33-1 | ||
| Glossary | G-1 | ||
| Name Index | I-1 | ||
| Subject Index | I-6 |