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This text offers an introduction to the key topics and themes of strategic management. The authors draw on examples of familiar companies and personalities to illustrate the different strategies used by today’s firms—and how they go about implementing those strategies. Students will learn how to conduct a case analysis, measure organizational performance, and conduct external and internal analyses. In short, they will understand how organizations operate at the strategic level to be successful.

1: Mastering Strategy: Art and Science
- 1.1: Introduction
- 1.2: What is Strategic Management?
- 1.3: Intended, Emergent, and Realized Strategies
- 1.4: The History of Strategic Management
- 1.5: Contemporary Critique of Strategic Management
- 1.6: Understanding the Strategic Management Process
- 1.7: Conclusion
2: Assessing Organizational Performance
- 2.1: Introduction
- 2.2: Vision, Mission, and Goals
- 2.3: Assessing Organizational Performance
- 2.4: Competitive Advantage
- 2.5: Conclusion
3: Evaluating the External Environment
- 3.1: Introduction
- 3.2: The Relationship between an Organization and its Environment
- 3.3: Evaluating the General Environment
- 3.4: Evaluating the Industry
- 3.5: Mapping Strategic Groups
- 3.6: Conclusion
4: Evaluating the Internal Environment
- 4.1: Introduction
- 4.2: Managing Firm Resources
- 4.3: Resource-Based View
- 4.5: Value Chain
- 4.6: Conclusion
5: Synthesis of Strategic Issues and Analysis
- 5.1: Introduction
- 5.2: SWOT Framework
- 5.3: Strategic Issue Identification
- 5.4: Conclusion
6: Selecting Business-Level Strategies
- 6.1: Introduction
- 6.2: Understanding Business-Level Strategy through “Generic Strategies”
- 6.3: Cost Leadership
- 6.4: Differentiation
- 6.5: Focused Cost Leadership and Focused Differentation
- 6.6: Best-Cost Strategy
- 6.7: Stuck in the Middle
- 6.8: Conclusion
7: Innovation Strategies
- 7.1: Introduction
- 7.2: Entrepreneurial Orientation
- 7.3: Why Innovate?
- 7.4: Types of Innovation
- 7.5: Implementing Innovation
- 7.6: Responding to Innovation in the Market
- 7.7: Conclusion
8: Selecting Corporate-Level Strategies
- 8.1: Introduction
- 8.2: Corporate-Level Strategy Defined
- 8.3: Diversification
- 8.4: Implementing Corporate Strategy
- 8.5: Strategies for Getting Smaller
- 8.6: Portfolio Planning and Corporate-Level Strategy
- 8.7: Conclusion
9: Competing in International Markets
- 9.1: Introduction
- 9.2: Advantages and Disadvantages of Competing in International Markets
- 9.3: CAGE Framework
- 9.4: Types of International Strategies
- 9.5: Drivers of Success and Failure When Competing in International Markets
- 9.6: Options for Competing in International Markets
- 9.7: Conclusion
10: Executing Strategy through Organizational Design
- 10.1: Introduction
- 10.2: Why Organizational Design?
- 10.3: The Basic Building Blocks of Organizational Structure
- 10.4: Creating an Organizational Structure
- 10.5: Creating Organizational Control Systems
- 10.6: Legal Forms of Business
- 10.7: Conclusion
11: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility
- 11.1: Introduction
- 11.2: Doing Well by Doing Good
- 11.3: Corporate Governance
- 11.4: Corporate Ethics and Social Responsibility
- 11.5: Contemporary Questions of Corporate Ethics
- 11.6: Conclusion

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1: Mastering Strategy: Art and Science

2: Assessing Organizational Performance

3: Evaluating the External Environment

4: Evaluating the Internal Environment

5: Synthesis of Strategic Issues and Analysis

6: Selecting Business-Level Strategies

7: Innovation Strategies

8: Selecting Corporate-Level Strategies

9: Competing in International Markets

10: Executing Strategy through Organizational Design

11: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility