Title:
Strategic management : the challenge of creating value
Author:
FitzRoy, Peter T.
ISBN:
9780415567633
9780415567640
9780203804407
Personal Author:
Edition:
2nd ed.
Publication Information:
New York : Routledge, ©2012.
Physical Description:
xxxii, 666 p. : ill. ; 26 cm.
General Note:
Formerly CIP.
Contents:
Machine generated contents note: Section 1 Strategic Management Concepts -- 1.Managing strategically -- Strategic management in practice - News Corporation -- 1.1.Introduction -- Definition of strategic management terms -- Strategic decisions -- Strategy -- Strategic management -- 1.2.What determines firm success? -- What do we mean by success? -- What determines success? -- Persistence of success -- 1.3.The concept of the firm -- Managerial implications -- 1.4.Dynamics of change -- 1.5.Strategic management process -- Context -- Strategy -- Implementation -- Performance -- 1.6.Who `does' strategy? -- 1.7.Changes affecting strategic management -- Globalization -- Increased competition -- Technological change -- Knowledge intensity -- Corporate social responsibility and sustainability -- Deregulation and privatization -- 1.8.Summary -- View from the Top - Electrolux -- Mini-case - MTP Limited -- Review questions -- References -- 2.Strategic management fundamentals --
Contents note continued: Strategic management in practice - Shell, Nestle -- 2.1.Introduction -- 2.2.Characteristics of strategic decisions -- Create value -- Major resource commitment -- Difficult to reverse -- Long-term commitment -- 2.3.Characteristics of strategy -- Incremental or revolutionary strategy -- Corporate- and business unit-level strategy -- Strategy as building capabilities -- Strategy as resolving paradox -- Other characteristics of strategy -- 2.4.Characteristics of strategic management -- Creating the organization -- Creating and managing change -- Creating value -- Ethics -- 2.5.Business models -- Components of a business model -- 2.6.The strategy development process - a management perspective -- Impediments to the strategy process -- 2.7.Stakeholders and organizational value -- Shareholders -- Customers -- Employees -- Achieving a synthesis -- Other stakeholders -- 2.8.Getting strategy implemented -- 2.9.Summary -- View from the Top - MasterCard --
Contents note continued: Mini-case - Argus Technology Ltd -- Review questions -- References -- Section 2 Strategic Analysis -- 3.External analysis: the business environment -- Strategic management in practice - chip makers -- 3.1.Introduction -- Environmental scanning -- Select key variables -- Forecast changes -- Estimate the impact of the changes -- Levels of environmental analysis -- 3.2.The remote environment -- Economic -- Political -- Socio-cultural -- Technological -- Legal -- Environmental -- 3.3.The industry environment -- Industry value chain -- Limitations of the industry model -- 3.4.The business unit environment -- Customer analysis -- Analysing competitors -- 3.5.Multi-industry competition -- Network competition -- Corporate-level competition -- 3.6.Summary -- View from the Top - Capita Group plc -- Mini-case - Linn Products Limited -- Review questions -- References -- 4.External analysis: the financial environment -- Strategic management in practice - Lafarge --
Contents note continued: 4.1.Introduction -- 4.2.The two markets in which firms compete -- Competition in financial markets -- Competition in product markets -- Relationship between the two markets -- Market for corporate control -- The managerial challenge -- Risk types -- 4.3.Financial markets -- Major participants in financial markets -- Global nature of financial markets -- Current concerns with financial markets -- 4.4.Equity markets -- Types of investors -- The cost of equity capital -- Trends in equity markets -- 4.5.Debt markets -- Types of debt -- Ratings agencies -- Islamic banking -- 4.6.Cost of capital and firm valuation -- Firm Valuation -- Accounting measures of profitability -- 4.7.Risk management and derivatives -- Options -- Swaps -- 4.8.Summary -- View from the Top - HSBC Holdings plc -- Mini-case - Focus (DIY) Ltd -- Review questions -- References -- 5.Internal analysis: managing capabilities, costs and knowledge --
Contents note continued: Strategic management in practice - ARM Holdings -- 5.1.Introduction -- 5.2.Resources -- Tangible resources -- Intangible resources -- Classifying resources -- 5.3.Resources and capabilities -- 5.4.Capabilities and competitive advantage -- Valuable -- Scarce -- Non-imitable -- Sustainable -- Appropriable -- 5.5.Dynamic capabilities -- 5.6.The value chain -- 5.7.Cost drivers -- Economies of scale -- Experience effect -- Value drivers -- 5.8.Knowledge and intellectual capital -- Types of knowledge -- Characteristics of knowledge products -- 5.9.Summary -- View from the Top - IBM -- Mini-case - OATS -- Review questions -- References -- Section 3 Strategy Development -- 6.Creating future direction -- Strategic management in practice - Canon -- 6.1.Introduction -- 6.2.Vision -- The vision statement -- Characteristics of vision statements -- Creating a vision statement -- 6.3.Values -- Values as a source of problems -- 6.4.Mission --
Contents note continued: Corporate versus business unit mission statements -- Characteristics of mission statements -- Creating and changing a mission statement -- 6.5.Objectives -- Corporate and business unit objectives -- Financial and non-financial objectives -- Setting objectives -- Categories of financial objectives -- Level of objectives -- Problems in setting objectives -- Synthesizing the concepts -- 6.6.An integrative example -- 6.7.Summary -- View from the Top - nVIDIA -- Mini-case - Coca-Cola -- Review questions -- References -- 7.Business-level strategy -- Strategic management in practice - Tata Group -- 7.1.Introduction -- Corporate and business unit relationships -- Strategic management of the business -- Business vision and objectives -- 7.2.The changing product/market environment of the business -- Remote environment -- Industry environment -- Customer value -- Competitor analysis -- 7.3.Internal analysis for developing strategy -- The business value chain --
Contents note continued: Business unit analysis -- 7.4.Developing business-level strategy -- A strategic decision framework -- 7.5.Where to compete -- Vertical positioning -- Horizontal positioning -- 7.6.How to compete -- Competitive business strategies -- Dynamics of competitive advantage -- Entry strategy -- Capabilities and architecture -- 7.7.Business growth -- Product/market growth alternatives -- Capabilities/market alternatives -- Innovation and sources of value -- 7.8.Summary -- View from the Top - Sandvik -- Mini-case - Ryanair -- Review questions -- References -- 8.Corporate-level strategy -- Strategic management in practice - HMV Group -- 8.1.Introduction -- Understanding corporate structures -- Creating value -- 8.2.Elements of corporate strategy -- Creating future direction -- Style of the centre -- Portfolio management -- Diversification and relatedness among business units -- Financial decisions -- Other corporate decisions -- 8.3.Creating future direction --
Contents note continued: 8.4.Style of the centre -- Synergy -- Centralized services -- 8.5.Managing the corporate portfolio -- Resource allocation - current and future portfolio -- Tools for allocating resources -- 8.6.Diversification -- Related diversification -- Unrelated diversification -- 8.7.Financial decisions -- Capital structure -- Dividend policy -- Share repurchases -- Senior management salary and incentive alternatives -- 8.8.Managing strategic risk -- Assessing strategy -- 8.9.Summary -- View from the Top - Whitbread Plc -- Mini-case - Philips Electronics NV -- Review questions -- References -- 9.Managing innovation and the dynamic scope of the firm -- Strategic management in practice - Porsche and VW -- 9.1.Introduction -- 9.2.Key considerations in innovation -- Features of innovation -- Organizing for innovation -- Types of innovation -- 9.3.Managing the dynamic scope of the firm -- Risk and innovation -- Means of changing scope --
Contents note continued: 9.4.Managing the dynamic scope - internal development -- Technological innovation -- 9.5.Managing the dynamic scope - mergers and acquisitions -- Drivers of mergers and acquisitions -- Success of mergers and acquisitions -- Process model of mergers and acquisitions -- 9.6.Managing the dynamic scope - hybrid approaches -- Strategic alliances -- Licensing and technology purchase -- Equity investment -- Consortia -- Option buying -- 9.7.Managing the dynamic scope - divestments, spin-offs and restructuring -- Divestments and spin-offs -- Restructuring -- 9.8.Summary -- View from the Top - Diageo plc -- Mini-case - Takeover of ABN Amro -- Review questions -- References -- Section 4 Strategy Implementation -- 10.Leading organizational change -- Strategic management in practice - Whitbread -- 10.1.Introduction -- Drivers of change -- Changes in the firm -- 10.2.Characteristics of organizational change -- Change and the environment -- Change and the firm --
Contents note continued: 10.3.The change process -- Initiating change -- Managing change -- Sustaining change: the organization of the future -- 10.4.Leadership -- Definition of leadership -- Leader versus manager -- Capabilities of leaders -- 10.5.Summary -- View from the Top - Diageo plc -- Mini-case - British Airways -- Review questions -- References -- 11.Designing organizational architecture -- Strategic management in practice - PerkinElmer -- 11.1.Introduction -- What is organizational architecture? -- 11.2.Structure -- The nature of structure -- Types of organizational structures -- 11.3.Processes and process management -- Key process management activities -- Business process re-engineering -- Information technology infrastructure -- Major IT initiatives -- Knowledge management systems -- 11.4.Human resources -- Managing resources and capabilities -- Succession planning -- Managing human resource policies -- 11.5.Summary -- View from the Top - Sony --
Contents note continued: Mini-case - Anglo American plc -- Review questions -- References -- Section 5 Assessing Strategic Performance -- 12.Measuring organizational performance -- Strategic management in practice - Toyota -- 12.1.Introduction -- 12.2.Performance measures -- Shareholder value and firm value -- Variables and measures -- Diagnostic use -- Financial and non-financial measures -- Benchmarking -- Need for a set of measures -- 12.3.Developing a performance measurement system -- Identifying and designing performance measures -- 12.4.Measuring business-level performance -- Customer measures -- Internal measures -- Innovation and learning measures -- Financial measures -- 12.5.Corporate performance measures -- Product/market performance and external stakeholders -- Internal measures and internal stakeholders -- Innovation and change management -- Financial measures and stakeholders -- Corporate social responsibility -- 12.6.Summary -- View from the Top - Dow Chemical --
Contents note continued: Mini-case - Interface Inc -- Review questions -- References -- 13.Corporate governance and social responsibility -- Strategic management in practice - Siemens -- 13.1.Introduction -- What is corporate governance? -- Global issues in corporate governance -- 13.2.The modern corporation -- Global institutional arrangements -- 13.3.The governance model -- 13.4.Shareholders and boards -- 13.5.Management and boards -- 13.6.The role of directors and the board -- Responsibilities of directors -- Composition of the board -- Capabilities of directors -- Compensation of directors -- 13.7.Board operations -- Board processes -- Board tasks -- Board committees -- 13.8.Global governance approaches -- Europe -- Asia -- 13.9.Corporate social responsibility -- 13.10.Summary -- View from the Top - Cable and Wireless -- Mini-case - Prudential plc -- Review questions -- References -- 14.Postscript -- Introduction -- Context -- Strategy -- Implementation -- Performance --
Contents note continued: Conclusion.
Abstract:
Students trying to navigate the strategy jungle may lose sight of the fact that strategic management is about creating value in an organization. Understanding strategic management is a core part of all business qualifications and this textbook brings a new and easy-to-follow understanding of this vital business function. In addition to walking the student through the basics of the subject, the authors provide an array of analytical tools to help facilitate a thorough understanding of strategic management. The book addresses thoroughly the impact of financial markets on a firm's strategic capabilities, as well as looking at other challenging environmental factors. Aided by an array of student-friendly features, such as: learning objectives, 'strategic management in practice' case studies and review questions in each chapter, Strategic Management will help students to excel in their strategic management classes and better prepare them for the real business world.