Understanding Strategic Management is the ideal introduction to strategy for students on one-semester courses who require an informative yet practical approach. The book's four-part structure defines the concept of strategy, before using the overarching strategic framework of analysis, formulation, and implementation to show how strategy can be used to develop a sustainable competitive advantage in business.
Making use of chapter maps and learning objectives to guide students through the complexities of the subject, the author conveys the realities of strategic management through a diverse selection of international and contemporary examples. Strategy in Focus boxes use examples from popular media to show strategic management issues at work in the headlines we read every day. A longer, integrated Case Example closes every chapter tying in multiple strategic challenges that affect businesses large and small, public and private. Review and discussion questions then encourage students to be critical of the material and juxtapose alternative concepts and frameworks to evaluate their strengths and weaknesses.
With the book succinct and accessible by design, students may extend their learning with additional material available in the online resources. Written by the author to build seamlessly on the book, Extension Material is signposted from every chapter, providing further depth on a specific topic where required. As the tools of analysis underlie formulation and implementation, unique Working through Strategy materials give students opportunities to practice essential techniques such as PEST analysis and scenario planning themselves.
The rounded approach, extensive examples, and additional resources make this book the most complete, balanced, and accessible introduction for students taking their first steps into strategic management.
Part One: What is Strategy?; 1 What is Strategy?; Part Two: Strategic Analysis; 2 Evaluating the Macro-environment; 3 Industry Analysis; 4 The Internal Environment: Value-Creating Activities; 5 The Internal Environment: A Resource-Based View of Strategy; Part Three: Strategy Formulation; 6 Business Strategy; 7 Corporate Strategy; 8 International Strategy; Part Four: Strategy Implementation; 9 Organizational Structures and Strategic Change; 10 Strategic Leadership; 11 Corporate Governance