BOOK
Fundamentals of Strategy
Gerry Johnson | Kevan Scholes | Richard Whittington | Patrick Regn_r | Duncan Angwin
(2017)
Additional Information
Book Details
Abstract
From the author team of the market-leading text Exploring Strategy, comes a new edition of Fundamentals of Strategy. Designed to help student and business executives boost their academic and professional careers, Fundamentals of Strategy is the most concise and easy to follow overview of the fundamental issues and techniques of strategy.
Fundamentals of Strategy, 4th edition
· Delivers the essential concepts and techniques of strategy in a new 8 chapter structure. This allows additional space to unpack the fundamentals in depth, and at times more critically.
· Revamped final chapter on ‘Strategy in action’, raising implementation issues such as organisational structure, management processes and strategic change
· Covers up-to-date topics including business models, sustainability and entrepreneurial start-ups.
· Engages the reader with real-world strategy problems and provides insights and strategy examples from a wide range of international organisations.
· New and updated cases and illustrations featuring small and large organisations from profit and not-for-profit sectors and operating all over the world.
· Links to online support material.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Front Cover | Front Cover | ||
| Contents | viii | ||
| About Fundamentals of Strategy | xiii | ||
| Getting the most from Fundamentals of Strategy | xiv | ||
| Acknowledgements | xvi | ||
| 1 Introducing Strategy | 2 | ||
| Learning outcomes | 2 | ||
| Key terms | 2 | ||
| 1.1 Introduction | 3 | ||
| 1.2 What is strategy? | 4 | ||
| 1.2.1 Defining strategy | 4 | ||
| 1.2.2 The purpose of strategy: mission, vision, values and objectives | 7 | ||
| 1.2.3 Strategy statements | 9 | ||
| 1.2.4 Levels of strategy | 11 | ||
| 1.3 The Exploring Strategy Framework | 12 | ||
| 1.3.1 Strategic position | 13 | ||
| 1.3.2 Strategic choices | 14 | ||
| 1.3.3 Strategy in action | 15 | ||
| 1.4 Strategy development processes | 16 | ||
| Summary | 17 | ||
| Recommended key readings | 17 | ||
| References | 18 | ||
| Case Example: The rise of a unicorn: Airbnb | 19 | ||
| 2 Macro-Environment Analysis | 24 | ||
| Learning outcomes | 24 | ||
| Key terms | 24 | ||
| 2.1 Introduction | 25 | ||
| 2.2 PESTEL analysis | 27 | ||
| 2.2.1 PESTEL factors | 27 | ||
| 2.2.2 Key drivers for change | 37 | ||
| 2.3 Forecasting | 37 | ||
| 2.3.1 Forecast approaches | 37 | ||
| 2.3.2 Directions of change | 39 | ||
| 2.4 Scenario analysis | 39 | ||
| Summary | 43 | ||
| Recommended key readings | 43 | ||
| References | 44 | ||
| Case Example: Alibaba: the Yangtze River crocodile | 45 | ||
| 3 Industry and Sector Analysis | 48 | ||
| Learning outcomes | 48 | ||
| Key terms | 48 | ||
| 3.1 Introduction | 49 | ||
| 3.2 The competitive forces | 50 | ||
| 3.2.1 Competitive rivalry | 51 | ||
| 3.2.2 The threat of entry | 52 | ||
| 3.2.3 The threat of substitutes | 54 | ||
| 3.2.4 The power of buyers | 55 | ||
| 3.2.5 The power of suppliers | 56 | ||
| 3.2.6 Complementors and network effects | 56 | ||
| 3.2.7 Defining the industry | 59 | ||
| 3.2.8 Implications of the Competitive Five Forces | 60 | ||
| 3.3 Industry dynamics | 62 | ||
| 3.3.1 Industry structure dynamics | 62 | ||
| 3.4 Competitors and markets | 65 | ||
| 3.4.1 Strategic groups | 65 | ||
| 3.4.2 Market segments | 68 | ||
| 3.4.3 Critical success factors and ‘Blue Oceans’ | 69 | ||
| 3.5 Opportunities and threats | 71 | ||
| Summary | 72 | ||
| Recommended key readings | 72 | ||
| References | 73 | ||
| Case Example: Global forces and the advertising industry | 74 | ||
| 4 Resources and Capabilities | 78 | ||
| Learning outcomes | 78 | ||
| Key terms | 78 | ||
| 4.1 Introduction | 79 | ||
| 4.2 Foundations of resources and capabilities | 80 | ||
| 4.2.1 Resources and capabilities | 80 | ||
| 4.2.2 Threshold and distinctive resources and capabilities | 81 | ||
| 4.3 Distinctive resources and capabilities as a basis of competitive advantage | 83 | ||
| 4.3.1 V – value of resources and capabilities | 84 | ||
| 4.3.2 R – rarity | 85 | ||
| 4.3.3 I – inimitability | 85 | ||
| 4.3.4 O – organisational support | 87 | ||
| 4.4 Diagnosing resources and capabilities | 88 | ||
| 4.4.1 VRIO analysis | 88 | ||
| 4.4.2 The value chain and value system | 90 | ||
| 4.4.3 Activity systems | 94 | ||
| 4.4.4 Benchmarking | 96 | ||
| 4.4.5 SWOT | 97 | ||
| 4.5 Dynamic capabilities | 100 | ||
| 4.5.1 Innovation | 101 | ||
| Summary | 105 | ||
| Recommended key readings | 105 | ||
| References | 106 | ||
| Case Example: Rocket Internet – will the copycat be imitated? | 108 | ||
| 5 Stakeholders and Culture | 112 | ||
| Learning outcomes | 112 | ||
| Key terms | 112 | ||
| 5.1 Introduction | 113 | ||
| 5.2 Stakeholders | 114 | ||
| 5.2.1 Stakeholder groups | 115 | ||
| 5.2.2 Stakeholder mapping | 116 | ||
| 5.3 Owners and governance | 117 | ||
| 5.3.1 Ownership models | 117 | ||
| 5.3.2 Corporate governance | 121 | ||
| 5.3.3 How boards of directors influence strategy | 123 | ||
| 5.4 Ethics and social responsibility | 125 | ||
| 5.4.1 Corporate social responsibility | 125 | ||
| 5.4.2 The ethics of individuals and managers | 127 | ||
| 5.5 Organisational culture | 127 | ||
| 5.6 Strategic drift | 132 | ||
| Summary | 136 | ||
| Recommended key readings | 136 | ||
| References | 136 | ||
| Case Example: Barclays Bank: Governance issues and culture clashes | 138 | ||
| 6 Business Strategy and Models | 142 | ||
| Learning outcomes | 142 | ||
| Key terms | 142 | ||
| 6.1 Introduction | 143 | ||
| 6.2 Generic competitive strategies | 144 | ||
| 6.2.1 Cost leadership strategy | 146 | ||
| 6.2.2 Differentiation strategy | 149 | ||
| 6.2.3 Focus strategy | 151 | ||
| 6.2.4 Hybrid strategy | 153 | ||
| 6.2.5 The strategy clock | 154 | ||
| 6.3 Interactive strategies | 156 | ||
| 6.3.1 Interactive price and quality strategies | 156 | ||
| 6.3.2 Game theory | 158 | ||
| 6.4 Business models | 162 | ||
| 6.4.1 Value creation, configuration and capture | 163 | ||
| 6.4.2 Business model patterns | 164 | ||
| Summary | 165 | ||
| Recommended key readings | 166 | ||
| References | 166 | ||
| Case Example: The IKEA approach | 167 | ||
| 7 Corporate Strategy and Diversification | 172 | ||
| Learning outcomes | 172 | ||
| Key terms | 172 | ||
| 7.1 Introduction | 173 | ||
| 7.2 Strategy directions | 174 | ||
| 7.2.1 Market penetration | 175 | ||
| 7.2.2 Product development | 177 | ||
| 7.2.3 Market development | 178 | ||
| 7.2.4 Conglomerate diversification | 178 | ||
| 7.3 Diversification drivers | 179 | ||
| 7.4 Vertical integration | 182 | ||
| 7.4.1 Forward and backward integration | 182 | ||
| 7.4.2 To integrate or to outsource? | 183 | ||
| 7.5 Value creation and the corporate parent | 184 | ||
| 7.5.1 Value-adding and value-destroying activities of corporate parents | 184 | ||
| 7.5.2 The portfolio manager | 186 | ||
| 7.5.3 The synergy manager | 189 | ||
| 7.5.4 The parental developer | 189 | ||
| 7.6 The BCG (or growth share) matrix | 190 | ||
| 7.7 International diversification strategy | 192 | ||
| 7.8 Mergers, acquisitions and alliances | 196 | ||
| 7.8.1 Comparing acquisitions, alliances and organic development | 198 | ||
| Summary | 199 | ||
| Recommended key readings | 199 | ||
| References | 199 | ||
| Case Example: Virgin – is the brand more than Richard Branson? | 202 | ||
| 8 Strategy in Action | 206 | ||
| Learning outcomes | 206 | ||
| Key terms | 206 | ||
| 8.1 Introduction | 207 | ||
| 8.2 Structural types | 208 | ||
| 8.2.1 The functional structure | 208 | ||
| 8.2.2 The divisional structure | 210 | ||
| 8.2.3 The matrix structure | 211 | ||
| 8.2.4 Choosing between structures | 213 | ||
| 8.3 Systems | 213 | ||
| 8.3.1 Planning systems | 213 | ||
| 8.3.2 Cultural systems | 215 | ||
| 8.3.3 Performance targeting systems | 215 | ||
| 8.3.4 Market systems | 218 | ||
| 8.4 Organisational configuration: The McKinsey 7-S framework | 218 | ||
| 8.5 Leading strategic change | 220 | ||
| 8.5.1 Strategic leadership roles | 220 | ||
| 8.5.2 Leadership styles | 221 | ||
| 8.5.3 Types of strategic change | 223 | ||
| 8.5.4 Identifying levers for change: forcefield analysis | 227 | ||
| 8.5.5 Steps for strategic change: Kotter’s change model | 227 | ||
| Summary | 229 | ||
| Recommended key readings | 230 | ||
| References | 230 | ||
| Case Example: Sergio Marchionne – motor of change | 231 | ||
| Appendix: Evaluating Strategies | 234 | ||
| Introduction | 234 | ||
| Organisational performance | 234 | ||
| Evaluation criteria | 236 | ||
| Glossary | 242 | ||
| Index of Names | 246 | ||
| General Index | 248 | ||
| Back Cover | Back Cover |