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Strategic management : Competitiveness & globalization: concepts and cases.

Author: Michael A Hitt
Publisher: New york : Cengage learning, 2017.
Edition/Format:   Print book : EnglishView all editions and formats
Examine strategic management with the market-leading text that sets the standard for the most intellectually rich, practical analysis of strategic management. Written by respected experts Hitt, Ireland, and Hoskisson, the 12th edition of STRATEGIC MANAGEMENT is steeped in cutting-edge research featuring more than 500 emerging and leading companies, and reveals trends you can implement immediately to succeed in your  Read more...

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Document Type: Book
All Authors / Contributors: Michael A Hitt
ISBN: 1305502140 9781305502147
OCLC Number: 953367057
Contents: Machine generated contents note: pt. 1 Strategic Management Inputs --
1. Strategic Management and Strategic Competitiveness --
Opening Case: Alibaba: An Online Colossus in China Goes Global --
1-1. The Competitive Landscape --
1-1a. The Global Economy --
1-1b. Technology and Technological Changes --
Strategic Focus: Starbucks Is "Juicing" Its Earnings per Store through Technological Innovations --
1-2. The I/O Model of Above-Average Returns --
1-3. The Resource-Based Model of Above-Average Returns --
1-4. Vision and Mission --
1-4a. Vision --
1-4b. Mission --
1-5. Stakeholders --
Strategic Focus: The Failure of BlackBerry to Develop an Ecosystem of Stakeholders --
1-5a. Classifications of Stakeholders --
1-6. Strategic Leaders --
1-6a. The Work of Effective Strategic Leaders --
1-7. The Strategic Management Process --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
2. The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis. Note continued: Opening Case: Are There Cracks in the Golden Arches? --
2-1. The General, Industry, and Competitor Environments --
2-2. External Environmental Analysis --
2-2a. Scanning --
2-2b. Monitoring --
2-2c. Forecasting --
2-2d. Assessing --
2-3. Segments of the General Environment --
2-3a. The Demographic Segment --
2-3b. The Economic Segment --
2-3c. The Political/Legal Segment --
2-3d. The Sociocultural Segment --
2-3e. The Technological Segment --
2-3f. The Global Segment --
2-3g. The Sustainable Physical Environment Segment --
Strategic Focus: Target Lost Its Sway Because Tar-zhey No Longer Drew the Customers --
2-4. Industry Environment Analysis --
2-4a. Threat of New Entrants --
2-4b. Bargaining Power of Suppliers --
2-4c. Bargaining Power of Buyers --
2-4d. Threat of Substitute Products --
2-4e. Intensity of Rivalry among Competitors --
2-5. Interpreting Industry Analyses --
2-6. Strategic Groups. Note continued: Strategic Focus: Watch Out All Retailers, Here Comes Amazon; Watch Out Amazon, Here Comes --
2-7.Competitor Analysis --
2-8. Ethical Considerations --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
3. The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages --
Opening Case: Data Analytics, Large Pharmaceutical Companies, and Core Competencies: A Brave New World --
3-1. Analyzing the Internal Organization --
3-1a. The Context of Internal Analysis --
3-1b. Creating Value --
3-1c. The Challenge of Analyzing the Internal Organization --
3-2. Resources, Capabilities, and Core Competencies --
3-2a. Resources --
Strategic Focus: Strengthening the Superdry Brand as a Foundation to Strategic Success --
3-2b. Capabilities --
3-2c. Core Competencies --
3-3. Building Core Competencies --
3-3a. The Four Criteria of Sustainable Competitive Advantage --
3-3b. Value Chain Analysis --
3-4. Outsourcing. Note continued: 3-5.Competencies, Strengths, Weaknesses, and Strategic Decisions --
Strategic Focus: "We're Outsourcing that Activity but Not That One? I'm Surprised!" --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
pt. 2 Strategic Actions: Strategy Formulation --
4. Business-Level Strategy --
Opening Case: Hain Celestial Group: A Firm Focused on "Organic" Differentiation --
4-1. Customers: Their Relationship with Business-Level Strategies --
4-1a. Effectively Managing Relationships with Customers --
4-1b. Reach, Richness, and Affiliation --
4-1c. Who: Determining the Customers to Serve --
4-1d. What: Determining Which Customer Needs to Satisfy --
4-1e. How: Determining Core Competencies Necessary to Satisfy Customer Needs --
4-2. The Purpose of a Business-Level Strategy --
4-3. Types of Business-Level Strategies --
4-3a. Cost Leadership Strategy --
4-3b. Differentiation Strategy. Note continued: Strategic Focus: Apple vs. Samsung: Apple Differentiates and Samsung Imperfectly Imitates --
4-3c. Focus Strategies --
4-3d. Integrated Cost Leadership/Differentiation Strategy --
Strategic Focus: RadioShack's Failed Focus Strategy: Strategic Flip-Flopping --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
5.Competitive Rivalry and Competitive Dynamics --
Opening Case: Does Google Have Competition? Dynamics of the High Technology Markets --
5-1.A Model of Competitive Rivalry --
5-2.Competitor Analysis --
5-2a. Market Commonality --
5-2b. Resource Similarity --
Strategic Focus: Does Kellogg Have the Tiger by the Tail or Is It the Reverse? --
5-3. Drivers of Competitive Behavior --
5-4.Competitive Rivalry --
5-4a. Strategic and Tactical Actions --
5-5. Likelihood of Attack --
5-5a. First-Mover Benefits --
5-5b.Organizational Size --
5-5c. Quality --
5-6. Likelihood of Response --
5-6a. Type of Competitive Action --
5-6b. Actor's Reputation. Note continued: 5-6c. Market Dependence --
5-7.Competitive Dynamics --
5-7a. Slow-Cycle Markets --
5-7b. Fast-Cycle Markets --
5-7c. Standard-Cycle Markets --
Strategic Focus: The Ripple Effect of Supermarket Wars: Aldi Is Changing the Markets in Many Countries --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
6. Corporate-Level Strategy --
Opening Case: Disney Adds Value Using a Related Diversification Strategy --
6-1. Levels of Diversification --
6-1a. Low Levels of Diversification --
6-1b. Moderate and High Levels of Diversification --
6-2. Reasons for Diversification --
6-3. Value-Creating Diversification: Related Constrained and Related Linked Diversification --
6-3a. Operational Relatedness: Sharing Activities --
6-3b. Corporate Relatedness: Transferring of Core Competencies --
6-3c. Market Power --
6-3d. Simultaneous Operational Relatedness and Corporate Relatedness --
6-4. Unrelated Diversification --
6-4a. Efficient Internal Capital Market Allocation. Note continued: Strategic Focus: GE and United Technology Are Firms that Have Pursued Internal Capital Allocation and Restructuring Strategies --
6-4b. Restructuring of Assets --
6-5. Value-Neutral Diversification: Incentives and Resources --
6-5a. Incentives to Diversify --
Strategic Focus: Coca-Cola's Diversification to Deal with Its Reduced Growth in Soft Drinks --
6-5b. Resources and Diversification --
6-6. Value-Reducing Diversification: Managerial Motives to Diversify --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
7. Merger and Acquisition Strategies --
Opening Case: Mergers and Acquisitions: Prominent Strategies for Firms Seeking to Enhance Their Performance --
7-1. The Popularity of Merger and Acquisition Strategies --
7-1a. Mergers, Acquisitions, and Takeovers: What Are the Differences? --
7-2. Reasons for Acquisitions --
Strategic Focus: A Merger of Equals: Making It Happen Isn't Easy! --
7-2a. Increased Market Power. Note continued: 7-2b. Overcoming Entry Barriers --
Strategic Focus: Different Strategic Rationales Driving Cross-Border Acquisitions --
7-2c. Cost of New Product Development and Increased Speed to Market --
7-2d. Lower Risk Compared to Developing New Products --
7-2e. Increased Diversification --
7-2f. Reshaping the Firm's Competitive Scope --
7-2g. Learning and Developing New Capabilities --
7-3. Problems in Achieving Acquisition Success --
7-3a. Integration Difficulties --
7-3b. Inadequate Evaluation of Target --
7-3c. Large or Extraordinary Debt --
7-3d. Inability to Achieve Synergy --
7-3e. Too Much Diversification --
7-3f. Managers Overly Focused on Acquisitions --
7-3g. Too Large --
7-4. Effective Acquisitions --
7-5. Restructuring --
7-5a. Downsizing --
7-5b. Downscoping --
7-5c. Leveraged Buyouts --
7-5d. Restructuring Outcomes --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
8. International Strategy. Note continued: Opening Case: Netflix Ignites Growth Through International Expansion, But Such Growth Also Fires Up the Competition --
8-1. Identifying International Opportunities --
8-1a. Incentives to Use International Strategy --
8-1b. Three Basic Benefits of International Strategy --
8-2. International Strategies --
8-2a. International Business-Level Strategy --
8-2b. International Corporate-Level Strategy --
Strategic Focus: Furniture Giant IKEA's Global Strategy --
8-3. Environmental Trends --
8-3a. Liability of Foreignness --
8-3b. Regionalization --
8-4. Choice of International Entry Mode --
8-4a. Exporting --
8-4b. Licensing --
8-4c. Strategic Alliances --
8-4d. Acquisitions --
8-4e. New Wholly Owned Subsidiary --
8-4f. Dynamics of Mode of Entry --
8-5. Risks in an International Environment --
8-5a. Political Risks --
8-5b. Economic Risks --
Strategic Focus: The Global Soccer Industry and the Effect of the FIFA Scandal --
8-6. Strategic Competitiveness Outcomes. Note continued: 8-6a. International Diversification and Returns --
8-6b. Enhanced Innovation --
8-7. The Challenge of International Strategies --
8-7a.Complexity of Managing International Strategies --
8-7b. Limits to International Expansion --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
9. Cooperative Strategy --
Opening Case: Google, Intel, and Tag Heuer: Collaborating to Produce a Smartwatch --
9-1. Strategic Alliances as a Primary Type of Cooperative Strategy --
9-1a. Types of Major Strategic Alliances --
9-1b. Reasons Firms Develop Strategic Alliances --
9-2. Business-Level Cooperative Strategy --
9-2a.Complementary Strategic Alliances --
9-2b.Competition Response Strategy --
9-2c. Uncertainty-Reducing Strategy --
9-2d.Competition-Reducing Strategy --
Strategic Focus: Strategic Alliances as the Foundation for Tesla Motors' Operations --
9-2e. Assessing Business-Level Cooperative Strategies --
9-3. Corporate-Level Cooperative Strategy. Note continued: 9-3a. Diversifying Strategic Alliance --
9-3b. Synergistic Strategic Alliance --
9-3c. Franchising --
9-3d. Assessing Corporate-Level Cooperative Strategies --
9-4. International Cooperative Strategy --
9-5.Network Cooperative Strategy --
9-5a. Alliance Network Types --
9-6.Competitive Risks with Cooperative Strategies --
Strategic Focus: Failing to Obtain Desired Levels of Success with Cooperative Strategies --
9-7. Managing Cooperative Strategies --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
pt. 3 Strategic Actions: Strategy Implementation --
10. Corporate Governance --
Opening Case: The Corporate Raiders of the 1980s Have Become the Activist Shareholders of Today --
10-1. Separation of Ownership and Managerial Control --
10-1a. Agency Relationships --
10-1b. Product Diversification as an Example of an Agency Problem --
10-1c. Agency Costs and Governance Mechanisms --
10-2. Ownership Concentration. Note continued: 10-2a. The Increasing Influence of Institutional Owners --
10-3. Board of Directors --
10-3a. Enhancing the Effectiveness of the Board of Directors --
10-3b. Executive Compensation --
10-3c. The Effectiveness of Executive Compensation --
Strategic Focus: Do CEOs Deserve the Large Compensation Packages They Receive? --
10-4. Market for Corporate Control --
10-4a. Managerial Defense Tactics --
10-5. International Corporate Governance --
10-5a. Corporate Governance in Germany and Japan --
Strategic Focus: "Engagement" versus "Activist" Shareholders in Japan, Germany, and China --
10-5b. Corporate Governance in China --
10-6. Governance Mechanisms and Ethical Behavior --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
11.Organizational Structure and Controls --
Opening Case: Luxottica's Dual CEO Structure: A Key to Long-Term Success or a Cause for Concern? --
11-1.Organizational Structure and Controls --
11-1a.Organizational Structure. Note continued: Strategic Focus: Changing McDonald's Organizational Structure: A Path to Improved Performance? --
11-1b.Organizational Controls --
11-2. Relationships between Strategy and Structure --
11-3. Evolutionary Patterns of Strategy and Organizational Structure --
11-3a. Simple Structure --
11-3b. Functional Structure --
11-3c. Multidivisional Structure --
11-3d. Matches between Business-Level Strategies and the Functional Structure --
11-3e. Matches between Corporate-Level Strategies and the Multidivisional Structure --
Strategic Focus: Sony Corporation's New Organizational Structure: Greater Financial Accountability and Focused Allocations of Resources --
11-3f. Matches between International Strategies and Worldwide Structure --
11-3g. Matches between Cooperative Strategies and Network Structures --
11-4. Implementing Business-Level Cooperative Strategies --
11-5. Implementing Corporate-Level Cooperative Strategies. Note continued: 11-6. Implementing International Cooperative Strategies --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
12. Strategic Leadership --
Opening Case: Can You Follow an Icon and Succeed? Apple and Tim Cook After Steve Jobs --
12-1. Strategic Leadership and Style --
12-2. The Role of Top-Level Managers --
12-2a. Top Management Teams --
12-3. Managerial Succession --
Strategic Focus: Trial by Fire: CEO Succession at General Motors --
12-4. Key Strategic Leadership Actions --
12-4a. Determining Strategic Direction --
12-4b. Effectively Managing the Firm's Resource Portfolio --
Strategic Focus: All the Ways You Can Fail! --
12-4c. Sustaining an Effective Organizational Culture --
12-4d. Emphasizing Ethical Practices --
12-4e. Establishing Balanced Organizational Controls --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
13. Strategic Entrepreneurship --
Opening Case: Entrepreneurial Fervor and Innovation Drive Disney's Success. Note continued: 13-1. Entrepreneurship and Entrepreneurial Opportunities --
13-2. Innovation --
13-3. Entrepreneurs --
13-4. International Entrepreneurship --
13-5. Internal Innovation --
13-5a. Incremental and Novel Innovation --
Strategic Focus: Innovation Can Be Quirky --
13-5b. Autonomous Strategic Behavior --
13-5c. Induced Strategic Behavior --
13-6. Implementing Internal Innovations --
13-6a. Cross-Functional Product Development Teams --
13-6b. Facilitating Integration and Innovation --
13-6c. Creating Value from Internal Innovation --
13-7. Innovation through Cooperative Strategies --
13-8. Innovation through Acquisitions --
Strategic Focus: What Explains the Lack of Innovation at American Express? Is It Hubris, Inertia, or Lack of Capability? --
13-9. Creating Value through Strategic Entrepreneurship --
Summary --
Key Terms --
Review Questions --
Mini-Case --
Notes --
pt. 4 Case Studies --
Preparing an Effective Case Analysis. Note continued: Case 1 Kindle Fire: Amazon's Heated Battle for the Tablet Market --
Case 2 American Express: Bank 2.0 --
Case 3 BP In Russia: Bad Partners or Bad Partnerships? (A) --
Case 4 Carlsberg in Emerging Markets --
Case 5 Fisk Alloy Wire, Inc. and Percon --
Case 6 Business Model and Competitive Strategy of IKEA in India --
Case 7 Invitrogen (A) --
Case 8 Keurig: From David to Goliath: The Challenge of Gaining and Maintaining Marketplace Leadership --
Case 9 KIPP Houston Public Schools --
Case 10 Luck Companies: Igniting Human Potential --
Case 11 Corporate Governance at Martha Stewart Living Omnimedia: Not "A Good Thing" --
Case 12 The Movie Exhibition Industry: 2015 --
Case 13 Polaris and Victory: Entering and Growing the Motorcycle Business --
Case 14 Safaricom: Innovative Telecom Solutions to Empower Kenyans --
Case 15 Siemens: Management Innovation at the Corporate Level --
Case 16 Southwest Airlines --
Case 17 Starbucks Corporation: The New S-Curves. Note continued: Case 18 Super Selectos: Winning the War Against Multinational Retail Chains --
Case 19 Tim Hortons Inc. --
Case 20 W.L. Gore --
Culture of Innovation.


Examine strategic management with the market-leading text that sets the standard for the most intellectually rich, practical analysis of strategic management. Written by respected experts Hitt, Ireland, and Hoskisson, the 12th edition of STRATEGIC MANAGEMENT is steeped in cutting-edge research featuring more than 500 emerging and leading companies, and reveals trends you can implement immediately to succeed in your field. You'll discover how to integrate the classic industrial organization model with a resource-based view of the firm to give you a complete understanding of how today's businesses use strategic management to establish competitive advantages and create value for stakeholders in the global marketplace. The freshly reimagined MindTap(R) learning solution provides you with real-world activities that will prepare you to excel as a leader and outperform rivals.


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