CHAPTER 1 Strategic Management and Strategic Competitiveness
Opening Case: Ford 2000: Ford Motor Company's Global Strategy
The Challenge of Strategic Management
The New Competitive Landscape
The Global Economy
The March of Globalization
STRATEGIC FOCUS: Procter & Gamble: Competing Successfully in China
STRATEGIC FOCUS: The Changing Global Competitive Landscape: Emergence
of Newly Industrialized Countries
Technology and Technological Changes
The I/O Model of Above-Average Returns
The Resource-Based Model of Above-Average Returns
Strategic Intent and Strategic Mission
Strategic Intent
Strategic Mission
Stakeholders
Classification of Stakeholders
Organizational Strategists383
The Work of Effective Strategists
The Strategic Management Process
STRATEGIC FOCUS: Pursuing a Dream at Packard Bell
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER 2 The External Environment: Opportunities, Threats, Industry
Competition, and Competitor Analysis
Opening Case: Rubbermaid's Struggle to Remain at the Top
The General, Industry, and Competitor Environments
External Environmental Analysis
Scanning
Monitoring
Forecasting
Assessing
STRATEGIC FOCUS: Crearing New Visions with New Opponunities
Segments of the General Environment
The Demographic Segment
The Economic Segment
The Political/Legal Segment
The Sociocultural Segment
The Technological Segment
The Global Segment
STRATEGIC FOCUS: China's Growing Economic Prowess Presents Both
Opportunities and Threats to U.S., European, and Other Asian Finns
Industry Environment Analysis
Threat of New Entrants
Bargaining Power of Suppliers
Bargaimng Power of Buyers
Threat of Substitute Products
Intensity of Rivalry Among Competitors
Interpreting Industry Analyses
Strategic Groups
The Value of Strategic Group Amlysis
Competitor Analysis
STRATEGIC FOCUS: Dirty Comperirion for Global Business
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER 3 The Internal Environment: Resources, Capabilities and Core
Competencies
Opening Case: Brand Names As a Source of Competitive Advantage
The Importance of Internal Analysis
The Challenge of Internal Analysis
Resources, Capabilities, and Core Competencies
Resources
Capabilities
Value Chain Amlysis
Outsowcing
STRATEGIC FOCUS: Crearing Value As an Outsourdng Company
Core Competencies
Criteria of Sustaimble Competitive Advantage
STRATEGIC FOCUS: Old Navy Stores: A New Fonnat for The Gap to Achieve
Competirive Advantage?
Core Competencies-Cautions and Reminders
STRATEGIC FOCUS: Core Competencies and Core Rigidities at Sears, Roebuck
&Co.
Strategic Inputs and Strategic Actions
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER4 Business-Level Strategy
Opening Case: Achieving Strategic Competitiveness at Callaway Golf Company
Customers: Who, What, and How
Who: Determining the Customers to Serve
What: Determing the Customer Needs to Satisfy
How: Determining Core Competencies Necessary to Satisfy Customers' Needs
STRATEGIC FOCUS: Casual Fridays: A Change in Corporate Dress Codes
Types of Business-Level Strategy
Cost Leadership Strategy
Competitive Risks of the Cost Leadership Strategy
Differentiation Strategy
Competitive Risks ofthe Differentiation Strategy
Focus Strategies
STRATEGIC FOCUS: Successful Focus on a Market Niche: Watch Out for
Pirates
Competitive Risks of Focus Strategies
STRATEGIC FOCUS: Is It a Truck or a Jeep? Neither: It's a Hummer!
Integrated Low-CosttDifferentiation Strategy
Competitive Risks of the Integrated Low-Cost/Differentiation Strategy
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER 5 Competitive Dynamics
Opening Case: Competive Dynamics Among Breakfast Cereal Producers
Model of Competitive Dynamics and Rivalry
Market Commonality
Resource Similarity
Likelihood of Attack
first-, Second; and Late-Movers
Likelihood of Response
Type of Competitwe Action
Actor's Reputation
Dependence on the Market
Competitor Resource Availability
Firms' Abilities to Take Action and Respond
Relative firm Size
STRATEGlC FOCUS: Morgan Stantey's Emerging Market Strategy
Speed of Competitive Actions and Competitive Responses
Innovation
Quality
STRATEGlC FOCUS: Sun Microsystems Competes Through
Innovarion
Outcomes of Interfirm Rivalry
Competitive Market Outcomes
Competing 'm Fast-Cycle Markets
STRATEGlC FOCUS; Cannibalism Is a Virtue
Competitive Dynamics and Industry Evolution Outcomes
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER 6 Corporate-Level Strategy
Opening Case: The Downscoping of AT&T
History of Diversification
Levels of Diversification
Low Levels of Diversification
Moderate and High Levels of Diversification
STRATEGlC FOCUS: The Marriage of Time Warner and Turner Broadcasting:
Will It Create Positive Synergy?
Reasons for Diversification
Related Diversification
Sharing Activities
Transferring of Core Competencies
Market Power
Unrelated Diversification
Efftcient Intemal Capital Market Allocation
STRATEGIC FOCUS: Different Methods for Successfully Managing Unrelated
Businesses
Restructuring
Diversification: Incentives and Resources
Incentives to Diversify
STRATEGIC FOCUS: The Extinction of Cardinals and Eagle
Resources and Diversification
Extent of Diversification
Managerial Motives to Diversify
Techniques for Analyzing Diversified Companies' Portfolios
The Four Matrix Quadrants
Pitfalls of Matrix Techniques
Summary
Reyiew Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER 7 Acquisition and Restructuring Strategies
Opening Case: Mega-Media Acquisitions
Mergers and Acquisitions
Reasons for Acquisitions
STRATEGIC FOCUS: Acquirers in the Pharmaceutical Industry Seek Market
Power
STRATEGIC FOCUS: Insurance Companies and Banks Make Acquisitions to
Save Costs and Increase Market Power
Problems m Achieving Acquisition Success
Effective Acquisitions
Restructuring
STRATEGIC FOCUS: Corporate Restructuring in Germany, Japan and
South Korea
Downsizing
Downscoping
Leveraged Buyouts
Restructuring Outcomes
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER 8 International Strategy
Opening Case: Russia and China: Opportunities and Risks
Identifying International Opportunities: The Incentive to Pursue an International
Strategy
Increased Market Size
Return on Investment
Economies of Scale and Learning
Location Advantages
international Strategies
International Business-Level Strategy
Intermtional Corporate-Level Strategy
STRATEGlC FOCUS: The Evolution of Citicorp Toward a Transnational
Strategy
Environmental Trends
Regionalization
Choice of international Entry Mode
Exporting
Licensing
Strategic Alliances
STRATEGlC FOCUS: Sony Uses Strategic Alliances As an International Entry
Mode
Acquisitions
New, Wholly Owned Subsidiary
Dynamics of Mode of Entry
Strategic Competitiveness Outcomes
International Diversification and Returns
STRATEGlC FOCUS: Japanese Automobile Manufacturers Use of International
Diversification
International Diversification and Innovation
Complexity of Managing Multinational Firms
Risks in an International Environment
Political Risks
Economic Risks
Limits to International Expansion: Management Problems
Other Management Problems
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER 9 Cooperative Strategy
Opening Case: Strange Bedfellows: The Art of Partnering
Types of Cooperative Strategies
Reasons for Alliances
STRATEGlC FOCUS: From Dream Alliances in Hollywood to Compu-Toys
Business-Level Cooperative Strategies
Complementary Alliances
Competition Reduction Strategies
Competition Response Strategies
Vncertainty Reduction Strategies
Assessment of Competitive Advantage
Corporate-Level Cooperative Strategies
Motives for Corporate-Level Cooperative Strategies .
STRATEGlC FOCUS: Multiple R&D Alliances to Create Biotech Innovations
Also Carry Significant Risk
Internarional Cooperative Strategies
Strategic Intent of Partner
Network Strategies
RVD Consortia and Other Network Strategies
STRATEGlC FOCUS: Sematech: A Victim of Its Own Success?
Competitive Risks with Cooperative Strategies
Trustworthiness As a Strategic Asset
Strategic Approaches to Managing Alliances
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER lO Corporate Governance
Opening Case; The Effects of Corporate Governance Mechanisms on Firms' Strategic
Comperitiveness
Separation of Ownership and Managerial Control
Agency Relationships
Product Diversification As an Example ofan Agency Problem
Agency Costs and Govemance Mechanisms
Ownership Concentration
The Growing Infiuence of Istitutional Owners As Large-Block Shareholders
STRATEGlC FOCUS: The Governance of Public Pension Funds
Shareholder Activism: How Much Is Possible?
Boards of Directors
Enhancing the Effectiveness ofthe Board ofDirectors As a Governance Mechanism
Executive Compensation
A Complited Governance Mechanism
The Effectiveness of Exewtive Compensation
The Multidivisional Structure
Market for Corporate Control
Managerial Defense Tactics
International Corporate Governance
Corporate Governance 'm Germany
STRATEGlC FOCUS: Seeking to Satisfy Shareholders' Interests at Veba AG
Corporate Governance in Japan
Governance Mechanisms and Ethical Behavior
STRATEGlC FOCUS: Contemporary Corporate Governance Issues
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER l l Organizational Structure and Controls
Opening Case: Troubled Times at Oy Nokia
Evolutionary Patterns of Strategy and Organizational Structure
Simple Structure
Functional Structure
Multidivisional Structure
Implementing Business-Level Strategies: Organizational Structure and Controls
Using the Functional Structure to Implement the Cost Leadership Strategy
Using the Functional Structure to Implement the Differentiation Strategy
Using the Functional Structure to Implement the Integrated Low-Cost/
Differentiation Strategy
Using the Simple Structure to Implement Focused Strategies
Movement to the Multidivisional Structure
Implementing Corporate-Level Strategies; Organizational Structure and Controls
Usmg the Cooperative form to Implement the Related-Constrained Strategy
Using the SBU form to Implement the Related-Linked Strategy
STRATEGIC FOCUS: Organizational Structure and Unisys Corp.'s Intended
Future
Using the Competitive Form to Implement the Unrelated Diversification Strategy
The Effect of Structure on Strategy
STRATEGIC FOCUS: Changing of Diversification Strategies and Organizational
Structures in Large Diversified Finns
Implementing International Strategies: Organizational Structure and Controls
Using the Worldwide Geographic Area Structure to Implement the Multidomesti
Strategy
Using the Worldwide Product Divisional Structure to Implement the Global Strategy
Using the Combination Structure to Implement the Transnational Strategy
Implementing Cooperative Strategies: Organizational Structure and Controls
Implementing Business-Level Cooperative Strategies
Implementing Corporate-Level Cooperative Strategies
Implementtng International Cooperative Strategies
Contemporary Organizational Structures: A Cautionary Note
STRATEGIC FOCUS: The Use of a "Honeycomb" Organizational Structure at
AES Corporation
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER 12 Strategic Leadership
Opening Case: Strategic Leadership at Compaq Computer
Strategic Leadership
Managers As an Organizational Resource
STRATEGIC FOCUS: Some Strategic Leaders Do It Right and Others Do Not
Top Management Teams
Managerial Labor Market
Determining Strategic Direction
STRATEGIC FOCUS: Charisma: Strategic Leaders Who Have It, and Strategic
Leaders Who Don't
Exploiting and Maintaining Core Competencies
Developing Human Capital
STRATEGIC FOCUS: The Development and Training of Strategic Leaders at
PepsiCo
Sustaining an Effective Organizational Culture
Entrepreneurial Orientation
Changing Organizational Culture and Reengineering
Emphasizing Ethical Practices
Establishing Balanced Organizational Controls
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
CHAPTER 13 Corporate Entreprenewship and Innovation
Opening Case: Entrepreneurship Is Creating the Future
Innovation and Corporate Entrepreneurship
Need for Innovatton and Entrepreneurship
Entrepreneurship and Innovation Defined
STRATEGlC FOCUS: Creating New Products and Services with Corporate
Entrepreneurship
Cross-Cultural Comparisons of Entreprenewship
Internal Corporate Venturing
STRATEGlC FOCUS: The Power of Teams
Implementing Internal Corporate Ventures
Implementing Product Development Teams and Facilitating Cross-Functional
Integration
Barriers to Integration
Facilitating Integration
Appropriating (Extracting) Value from Innovation
STRATEGlC FOCUS: Speed and More Speed to Survive
Strategic Alliances: Cooperating to Produce and Manage Innovation
Buying Innovation: Acquisirions and Venture Capital
Acquisitions
Venture Capital
Entrepreneurship and the Small Firm
Summary
Review Questions
Application Discussion Questions
Ethics Questions
Internet Exercises
Notes
INTRODUCTION Preparing an Effective Case Analysis
CASE 1 Apple Computer
Jerry Culver, Tom Schipper, and james Wylie
CASE 2 Arizona Public Service Company and the Electric Utility
Industry
Barbara W. Keats and Samuel M. DeMarie
CASE 3 AT&T; A Strategic Restructuring for the Twenty-First Century
Elif Caglar, Carlos Garcia, Anuj Kumar, Andreas Trever, and Kyriakos
Parpounas
CASE 4 Bell Northern Research/Northern Telecom and the Cable TV
Industry
Norman McGuinnes and Keith Dawson
CASE 5 Ben & Jerry's Homemade Inc.: "Yo! I'm Your CEO!'
Katherine A. Auer and Alan N. Hoffman
CASE 6 The Body Shop, Inc.
Ann Carlson, Angela Ely, Kathy Groff, Clint Hamngton, Chris Hellman and
Julie Humphries
CASE 7 The Boeing Company: How Do We Get'There from Here?
Michael Andress, Bulent Erkmen, Paul Mtller, Lisa Milligan, Ali Ozkazanc
CASE 8 Cadbury Schweppes PLC and Dr Pepper/UP Corporation
Sherman Corbett, Erik Eichenger, Kathy Emerson, Dimitri Filippov, Mike
Kwlesky, and Chris Petro
CASE 9 CAP Gemini Sogeri
Marcus ]. Hurt
CASE 10 Chrysler's International Operation: Beijing Jeep Company
Justin Tan
CASE 11 Daimler-Benz
Joe Canterbury, Susanne Lauber, Vincent Marijon, David Thoumseux and Jim
Var
CASE 12 Dow Corning and the Silicone Breast Plant Implant Controversy
Anne T. Lawrence
CASE 13 Eastman Kodak Company: A New Image
Paul Hines, Ken Wollin, Rick Truscott, Leni Kantono, Vzma Suboohi and
Andrew Callaway
CASE 14 Euro Disney: The Theme Park Mold
Scott Reynolds
CASE 15 Glaxo PLC: Medicine, Management, and Mergers
Renato Garcia, Richard Kight, Manuel Lugo, James McMiller, Pravin Nayar,
and Joel (Rick) Porter
CASE 16 Goodyear: The Gault Years
Bernard A. Deitzer, Alan G. Krigline, Thomas C. Peterson
CASE 17 The Greensboro Housing Authority
Lew G. Brown, Willliam M. Kawashima, Diana H. Carlin, Margaret K. Craig
CASE 18 Harley-Davidson, Inc
Charles Darnell and Jerry Rumpf
CASE 19 The Hue-Man Experience Bookstore
joan Winn
CASE 20 Japanese-American Searing Inc
Joyce Miller andJ. Michael Geringer
CASE 21 Johns-Manville and Riverwood-Schuller
Arthur Sharplin
CASE 22 Kitchen Made Pies
james J. Chrisman, Fred L. Fry and Charles W, Hofer
CASE 23 Liz Claiborne, 1993: Troubled Times for the Women's Retail
Giant
Sharon Ungar Lane, Patrida Bilafer, Mary Fandel, Barbara Gottfried and
Alan N. Hoffman
CASE 24 Matsushita Industrial de Baja California
Stephen Jenner
CASE 25 Mercedes-Benz: In the Race to Win
Todd Barber, Michael Kuban, Kristi Richman, Mark Thompson, Vzma
Suboohi, and Michael Grundmeyer
CASE 26 The National Financial Planners Association
Raymond M. Kinnunen, james f. Molloy, Jr., and John A. Seeger
CASE 27 Novell: Expanding the Network
Janice Mills, Jeffrey Brown, Todd Kucker, Puu Subruangthong
Len Koster, and Hyejoon Park
CASE 28 Perdue Farms Inc., 1995
George C. Rubenson, frank Shipper, and Jean M. Hanebury
CASE 29 Polaroid and the Family-Imaging Market
Lew G. Brown and David R. Vestal
CASE 30 Service Corporation International
Ronald J. Salazar
CASE 31 Soft-Logik Publishing Corporation
Charles Boyd
CASE 32 Susan's Special Lawns
David C. Snook-Luther and Grant L. Lindstrom
CASE 33 Telefonos de Mexico
Jennifer Alexander, Tom Blackley, Linda cben, Dru Ubben, John Economou
Sewardi Luis, and Richard Martinez
CASE 34 United Airlines' Global Strategy
A. J. Almaney
CASE 35 Will Whirlpool's Strategy Wash in Europe?
Matthew A. Ballard and Kendall E. Carr
CASE 36 Wil-Mor Technologies, Inc
Andrew Inkpen
CASE 37 XEL Communications, Inc.
Robert P. McGowan and Cynthia V. Fukami
APPENDIX A.l
NAMEINDEX 1.1
COMPANYINDEX 1.9
SUBJECTINDEX 1.13
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