Strategic management and business policy: concepts and cases
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Upper Saddle River, NJ
Pearson/Prentice Hall
2008
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| Ausgabe: | 11. ed. |
| Schlagworte: | |
| Online-Zugang: | Table of contents only Inhaltsverzeichnis |
| Beschreibung: | Includes bibliographical references |
| Beschreibung: | Getr. Zählung Ill., graph. Darst. |
| ISBN: | 013232346X 9780132323468 |
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Datensatz im Suchindex
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| adam_text | Brief Contents
PART ONE Introduction to Strategic Management and Business Policy 1
Chapter 1 Basic Concepts in Strategic Management 1
Chapter 2 Corporate Governance 34
Chapter 3 Ethics and Social Responsibility in Strategic Management 55
PART TWO Scanning the Environment 71
Chapter 4 Environmental Scanning and Industry Analysis 71
Chapter 5 Internal Scanning: Organizational Analysis 104
PART THREE Strategy Formulation 137
Chapter 6 Strategy Formulation: Situation Analysis and Business Strategy 137
Chapter 7 Strategy Formulation: Corporate Strategy 163
Chapter 8 Strategy Formulation: Functional Strategy and Strategic Choice 188
PART FOUR Strategy Implementation and Control 213
Chapter 9 Strategy Implementation: Organizing for Action 213
Chapter 10 Strategy Implementation: Staffing and Directing 238
Chapter 11 Evaluation and Control 261
PART FIVE Other Strategic Issues 291
Chapter 12 Strategic Issues in Managing Technology and Innovation 291
Chapter 13 Strategic Issues in Entrepreneurial Ventures and Small Businesses 316
Chapter 14 Strategic Issues in Not For Profit Organizations 338
PART SIX Introduction to Case Analysis 3S3
Chapter 15 Suggestions for Case Analysis 353
PART SEVEN Cases in Strategic Management 1 1
ix
Contents
Preface xxix
PART ONE Introduction to Strategic Management and Business Policy 1
Chapter 1 Basic Concepts in Strategic Management 1
1.1 The Study of Strategic Management 3
Phases of Strategic Management 3
Benefits of Strategic Management 5
1.2 Globalization and Electronic Commerce: Challenges to Strategic Management 6
Impact of Globalization 6
Q Global Issue: Regional Trade Associations Replace National Trade Barriers 7
Electronic Commerce 7
1.3 Theories of Organizational Adaptation 8
1.4 Creating a Learning Organization 9
1.5 Basic Model of Strategic Management 10
Environmental Scanning 10
Strategy Formulation 12
Strategy Highlight 1.1: Do You Have a Good Mission Statement? 13
Strategy Implementation 16
Evaluation and Control 17
Feedback/Learning Process 18
1.6 Initiation of Strategy: Triggering Events 18
Strategy Highlight 1.2: Triggering Event at Sun Microsystems 19
1.7 Strategic Decision Making 20
What Makes a Decision Strategic? 20
Mintzberg s Modes of Strategic Decision Making 20
Strategic Decision Making Process: Aid to Better Decisions 21
1.8 The Strategic Audit: Aid to Strategic Decision Making 23
1.9 Conclusion 24
Appendix l.A Strategic Audit of a Corporation 26
Chapter 2 Corporate Governance 34
2.1 Role of the Board of Directors 36
Responsibilities of the Board 36
Members of a Board of Directors 39 xi
Q91 CONTENTS
Strategy Highlight 2.1: Agency Theory Versus Stewardship Theory in Corporate
Governance 41
(Q Global Issue: POSCO Adds an International Director 42
Nomination and Election of Board Members 44
Organization of the Board 44
Impact of the Sarbanes Oxley Act on U.S. Corporate Governance 46
Trends in Corporate Governance 47
2.2 The Role of Top Management 48
Responsibilities of Top Management 48
Strategy Highlight 2.2: CEO Hubris at Disney? 51
2.3 Conclusion 52
Chapter 3 Ethics and Social Responsibility in Strategic Management 55
3.1 Social Responsibilities of Strategic Decision Makers 56
Responsibilities of a Business Firm 57
Corporate Stakeholders 59
3.2 Ethical Decision Making 61
Strategy Highlight 3.1: The Johnson Johnson Credo 62
Some Reasons for Unethical Behavior 62
Strategy Highlight 3.2: Unethical Practices at Enron and WorldCom Exposed
byWhistle Blowers 63
(*y Global Issue: How Rule Based and Relationship Based Governance Systems Affect
Ethical Behavior 64
Encouraging Ethical Behavior 66
3.3 Conclusion 68
PART ENDING VIDEO CASE: Newbury Comics, Inc. 70
PART TWO Scanning the Environment 71
Chapter 4 Environmental Scanning and Industry Analysis 71
4.1 Environmental Scanning 73
Identifying External Environmental Variables 73
(¦%* Global Issue: Identifying Potential Markets in Developing Nations 79
Identifying External Strategic Factors 81
4.2 Industry Analysis: Analyzing the Task Environment 82
Porter s Approach to Industry Analysis 82
Industry Evolution 86
Categorizing International Industries 87
International Risk Assessment 87
Strategic Groups 88
CONTENTS ^^QH
Strategic Types 88
Hypercompetition 89
Strategy Highlight 4.1: Microsoft in a Hypercompetitive Industry 90
Using Key Success Factors to Create an Industry Matrix 91
4.3 Competitive Intelligence 92
Sources of Competitive Intelligence 93
Strategy Highlight 4.2: Evaluating Competitive Intelligence 94
Monitoring Competitors for Strategic Planning 94
4.4 Forecasting 95
Danger of Assumptions 95
Using Forecasting Techniques 96
4.5 The Strategic Audit: A Checklist for Environmental Scanning 97
4.6 Synthesis of External Factors—EFAS 97
4.7 Conclusion 99
Appendix 4.A Competitive Analysis Techniques 101
Chapter 5 Internal Scanning: Organizational Analysis 104
5.1 A Resource Based Approach to Organizational Analysis 106
Core and Distinctive Competencies 106
Using Resources to Gain Competitive Advantage 107
Determining the Sustainability of an Advantage 108
5.2 Business Models 110
5.3 Value Chain Analysis 111
Industry Value Chain Analysis 112
Corporate Value Chain Analysis 113
5.4 Scanning Functional Resources and Capabilities 114
Basic Organizational Structures 114
Corporate Culture: The Company Way 116
$} Global Issue: Managing Corporate Culture for Global Competitive Advantage:
ABB Versus Matsushita 117
Strategic Marketing Issues 117
Strategic Financial Issues 119
Strategic Research and Development (R D) Issues 120
Strategy Highlight 5.1: A Problem of Technology Transfer at Xerox Corporation 121
Strategic Operations Issues 123
Strategic Human Resource Management (HRM) Issues 125
Strategic Information Systems/Technology Issues 127
|^m CONTENTS
5.5 The Strategic Audit: A Checklist for Organizational Analysis 129
5.6 Synthesis of Internal Factors 129
5.7 Conclusion 131
PART ENDING VIDEO CASE: Newbury Comics, Inc. 134
PART THREE Strategy Formulation 137
Chapter 6 Strategy Formulation: Situation Analysis and Business Strategy 137
6.1 Situational Analysis: SWOT Analysis 138
Generating a Strategic Factors Analysis Summary (SEAS) Matrix 139
Finding a Propitious Niche 142
^) Global Issue: SAB Defends Its Propitious Niche 143
6.2 Review of Mission and Objectives 143
6.3 Generating Alternative Strategies by Using a TOWS Matrix 144
6.4 Business Strategies 145
Porter s Competitive Strategies 145
Strategy Highlight 6.1: Grim Reaper Uses Focused Differentiation Strategy 149
Cooperative Strategies 156
6.5 Conclusion 161
Chapter 7 Strategy Formulation: Corporate Strategy 163
7.1 Corporate Strategy 164
7.2 Directional Strategy 165
Growth Strategies 165
Strategy Highlight 7.1: Transaction Cost Economics Analyzes Vertical
Growth Strategy 168
Strategy Highlight 7.2: Screening Criteria for Concentric Diversification 171
International Entry Options 171
(Mfy Global Issue: Wal Mart Looks to International Markets for Growth 172
Controversies in Directional Growth Strategies 174
Stability Strategies 175
Retrenchment Strategies 176
Strategy Highlight 7.3: Turnaround Strategy at IBM 177
7.3 Portfolio Analysis 179
BCG Growth Share Matrix 179
GE Business Screen 181
Advantages and Limitations of Portfolio Analysis 182
7.4 Corporate Parenting 183
Developing a Corporate Parenting Strategy 184
CONTENTS ^^^^|
Horizontal Strategy and Multipoint Competition 185
7.5 Conclusion 185
Chapter 8 Strategy Formulation: Functioned Strategy and Strategic Choice 188
8.1 Functional Strategy 189
Marketing Strategy 190
Financial Strategy 191
Research and Development (R D) Strategy 192
Operations Strategy 193
(4y Global Issue: International Differences Alter Whirlpool s Operations Strategy 194
Purchasing Strategy 195
Logistics Strategy 196
Strategy Highlight 8.1: Staples Uses Internet to Replenish Inventory from 3M 197
Human Resource Management (HRM) Strategy 197
Information Technology Strategy 198
8.2 The Sourcing Decision: Location of Functions 198
8.3 Strategies to Avoid 201
8.4 Strategic Choice: Selecting of the Best Strategy 201
Constructing Corporate Scenarios 202
Process of Strategic Choice 207
8.5 Developing Policies 208
8.6 Conclusion 209
PART ENDING VIDEO CASE: Newbury Comics, Inc. 212
PART FOUR Strategy Implementation and Control 213
Chapter 9 Strategy Implementation: Organizing for Action 213
9.1 Strategy Implementation 214
9.2 Who Implements Strategy? 215
9.3 What Must Be Done? 216
Developing Programs, Budgets, and Procedures 216
Achieving Synergy 218
9.4 How Is Strategy to Be Implemented? Organizing for Action 219
Structure Follows Strategy 219
Stages of Corporate Development 220
Strategy Highlight 9.1: The Founder of the Modem Blocks Transition to Stage II 224
Organizational Life Cycle 224
Advanced Types of Organizational Structures 226
QJQI CONTENTS
Reengineering and Strategy Implementation 229
Six Sigma 230
Designing Jobs to Implement Strategy 231
Strategy Highlight 9.2: Designing Jobs with the Job Characteristics Model 232
9.5 International Issues in Strategy Implementation 232
(J§^ Global Issue: Multiple Headquarters: A Sixth Stage of International
Development? 234
9.6 Conclusion 236
Chapter 10 Strategy Implementation: Staffing and Directing 238
10.1 Staffing 240
Staffing Follows Strategy 240
Selection and Management Development 243
Strategy Highlight 10.1: How Hewlett Packard Identifies Potential Executives 244
Problems in Retrenchment 245
International Issues in Staffing 246
10.2 Leading 248
Managing Corporate Culture 248
Strategy Highlight 10.2: Admiral Assimilates Maytag s Culture 252
Action Planning 253
Management By Objectives 254
Total Quality Management 255
International Considerations in Leading 256
t4y Global Issue: Cultural Differences Create Implementation Problems in
Merger 258
10.3 Conclusion 258
Chapter 11 Evaluation and Control 261
11.1 Evaluation and Control in Strategic Management 263
11.2 Measuring Performance 263
Appropriate Measures 263
Types of Controls 265
Activity Based Costing 266
Enterprise Risk Management 267
Primary Measures of Corporate Performance 267
Strategy Highlight 11.1: Eyeballs and MUUs: Questionable Performance Measures 269
Primary Measures of Divisional and Functional Performance 273
International Measurement Issues 276
PQ Global Issue: Piracy: 15% 20% of China s Goods Are Counterfeit 277
CONTENTS |^^QH
11.3 Strategic Information Systems 278
Enterprise Resource Planning (ERP) 278
Divisional and Functional IS Support 279
11.42 Problems in Measuring Performance 279
Short Term Orientation 279
Goal Displacement 280
11.5 Guidelines for Proper Control 282
Strategy Highlight 11.2: Some Rules of Thumb in Strategy 282
11.6 Strategic Incentive Management 283
11.7 Conclusion 285
PART ENDING VIDEO CASE: Newbury Comics, Inc. 288
PART FIVE Other Strategic Issues 291
Chapter 12 Strategic Issues in Managing Technology and Innovation 291
12.1 The Role of Management 293
Strategy Highlight 12.1: Examples of Innovation Emphasis in Mission Statements 294
12.2 Environmental Scanning 295
External Scanning 295
Internal Scanning 298
12.3 Strategy Formulation 299
Product Versus Process R D 299
Technology Sourcing 300
Importance of Technological Competence 302
%} Global Issue: Use of Intellectual Property at Huawei Technologies 302
Categories of Innovation 303
Product Portfolio 305
12.4 Strategy Implementation 305
Developing an Innovative Entrepreneurial Culture 305
Organizing for Innovation: Corporate Entrepreneurship 306
Strategy Highlight 12.2: How Not to Develop an Innovative Organization 309
12.5 Evaluation and Control 309
Evaluation and Control Techniques 309
Evaluation and Control Measures 311
12.6 Conclusion 312
Chapter 13 Strategic Issues in Entrepreneurial Ventures and Small Businesses 316
13.1 Importance of Small Business and Entrepreneurial Ventures 317
B3H CONTENTS
(^ Global Issue: Entrepreneurship: Some Countries Are More Supportive
Than Others 318
Definition of Small Business Firms and Entrepreneurial Ventures 319
The Entrepreneur as a Strategist 319
13.2 Use of Strategic Planning and Strategic Management 319
Degree of Formality 320
Usefulness of the Strategic Management Model 320
Usefulness of the Strategic Decision Making Process 320
13.3 Issues in Corporate Governance 324
Boards of Directors and Advisory Boards 324
Impact of the Sarbanes Oxley Act 324
13.4 Issues in Environmental Scanning and Strategy Formulation 325
Sources of Innovation 326
Factors Affecting a New Venture s Success 327
Strategy Highlight 13.1: Suggestions for Locating an Opportunity and Formulating a
Business Strategy 329
13.5 Issues in Strategy Implementation 330
Substages of Small Business Development 330
Transfer of Power and Wealth in Family Businesses 332
13.6 Issues in Evaluation and Control 334
13.7 Conclusion 335
Chapter 14 Strategic Issues in Not For Profit Organizations 338
14.1 Why Not For Profit? 340
(Q Global Issue: Which Is Best for Society: Business or Not For Profit? 341
Importance of Revenue Source 341
Sources of Not For Profit Revenue 342
Patterns of Influence on Strategic Decision Making 343
Usefulness of Strategic Management Concepts and Techniques 343
14.2 Impact of Constraints on Strategic Management 344
Impact on Strategy Formulation 345
Impact of Strategy Implementation 346
Impact on Evaluation and Control 346
14.3 Not for Profit Strategies 347
Strategic Piggybacking 348
Strategy Highlight 14.1: Resources Needed for Successful Strategic
Piggybacking 349
CONTENTS 2QH
Mergers 349
Strategic Alliances 349
14.4 Conclusion 350
PART SIX Introduction to Case Analysis 353
Chapter 15 Suggestions for Case Analysis 353
15.1 The Case Method 355
15.2 Researching the Case Situation 355
15.3 Financial Analysis: A Place to Begin 356
Analyzing Financial Statements 356
( ^ Global Issue: Financial Statements of Multinational Corporations: Not Always What
They Seem 359
Common Size Statements 359
Z Value, Index of Sustainable Growth, and Free Cash Flow 360
Useful Economic Measures 360
15.4 Format for Case Analysis: The Strategic Audit 361
15.5 Conclusion 363
Appendix 15.A Resources for Case Research 365
Appendix 15.B Suggested Case Analysis Methodology Using the Strategic Audit 368
Appendix 15.C Example of a Student Written Strategic Audit 371
Endnotes 376
PART SEVEN Cases in Strategic Management 1 1
SECTION A Corporate Governance, Social Responsibility, and Executive Leadership
case 1 The Recalcitrant Director at Byte Products, Inc.: Corporate Legality Versus
Corporate Responsibility 1 9
(Contributors: Dan R. Dalton, Richard A. Cosier, and Cathy A. Enz)
A plant location decision forces a confrontation between the board of directors and the CEO regarding
an issue in social responsibility and ethics.
case 2 The Wallace Group 2 1
(Contributor: Laurence J. Stybel)
Managers question the strategic direction of the company and how it is being managed by its founder
and CEO. Company growth has resulted not only in disorganization and confusion among employees,
but in poorer overall performance. How should the board deal with the founder of the company?
E9| CONTENTS
case 3 The Boeing Company s Board of Directors Fires the CEO 3 1
(Contributors: Kathryn E. Wheelen, Richard D. Wheelen, Thomas L. Wheelen II, and
Thomas L. Wheelen)
new and On February 25, 2005, Boeing s Chairman of the Board Lewis Plan was informed of a romantic affair
exclusive between Boeing s President and Chief Executive Officer, Harry Stonecipher, and a female executive.
What action should the board take?
SECTION B Ethics and Social Responsibility
case 4 The Audit 4 1
(Contributors: Gamewell D. Gantt, George A. Johnson and John A. Kilpatrick)
A questionable accounting practice by the company being audited puts a new CPA in a difficult
position. Although the practice is clearly wrong, she is being pressured by her manager to ignore it
because it is common in the industry.
case 5 Everyone Does It 5 1
(Contributors: Steven M. Cox and Shawana P. Johnson)
When Jim Willis, Marketing VP learns that the launch date for the company s new satellite will be late
new by at least a year, he is told by the company s president to continue using the earlier published date for
the launch. When Jim protests that the use of an incorrect date to market contracts was unethical, he is
told that spacecraft are never launched on time and that it is common industry practice to list
unrealistic launch dates. If a realistic date was used, no one would contract with the company.
SECTION C International Issues in Strategic Management
case 6 GlaxoSmithKline s Retaliation Against Cross Border Sales of Prescription Drugs 6 1
(Contributors: Sara Smith Shull and Rebecca J. Morris)
Double digit increases in costs for health care and pharmaceutical drugs were driving a number of
people in the United States to purchase cheaper drugs from Canadian pharmacies via the Internet. In
response, GlaxoSmithKline, the second largest pharmaceutical firm in the world, stopped supplying
Canadian drug wholesalers that were exporting drugs to the United States. Portrayed as a powerful,
mean spirited company more concerned with profits than with the health and well being of its
consumers, the company struggled to repair its public image in both Canada and the United States.
case 7 Starbucks International Operations 7 1
(Contributors: Sanjib Dutta and K. Subhadra)
The growing saturation of the U.S. market in coffee houses was driving Starbucks to look outside North
America for continued growth. This presented a dilemma. Even though Starbucks North American
coffee houses continued to be profitable, the firm s international operations were losing money.
Analysts felt that the company should rethink its entry strategy for international markets.
case 8 Turkcell: The Only Turk on Wall Street 8 1
(Contributor: Sue Greenfeld)
Having more than 60% of the Turkish market for mobile phones, Turkcell was the only Turkish
company listed on the New York Stock Exchange. With three additional Turkish competitors entering
the market and an onerous 66% tax burden, management wondered how it should position the
company for success in the coming years. What strategies will enable Turkcell to become one of the
largest mobile communications operators in Europe?
case 9 Guajilote Cooperativo Forestal, Honduras 9 1
(Contributors: Nathan Nebbe andJ. David Hunger)
exclusive Tms forestry cooperative has the right to harvest, transport, and sell fallen mahogany trees in La
Muralla National Park of Honduras. Although the cooperative has been successful thus far, it was
facing some serious issues: low prices for its product, illegal logging, deforestation by poor farmers,
and possible world trade restrictions on the sale of mahogany.
CONTENTS ^^^^|
SECTION D General Issues in Strategic Management
INDUSTRY ONE: INFORMATION TECHNOLOGY
case 10 Apple Computer and Steve P. Jobs (2006): Pixar Animation and Walt Disney
Company 10 1
(Contributors: Moustafa H. Abedelsamad, Hitesh (John) Adhia, David B. Croll,
Alan N. Hoffman, Charles E. Michaels Jr., and Thomas L. Wheelen)
new and Apple, the first company to mass market a personal computer, had been the darling of Wall Street in
exclusive the 1980s, but by the mid 1990s, the company was in serious difficulty. After being expelled from the
company in 1985, Steve Jobs returned as CEO in 1997 to reenergize the firm. The introduction of the
iPod in 2001 catapulted Apple back into the spotlight. How can Apple continue its success and avoid
becoming just another niche company? How dependent is the company on Steve Jobs?
case 11 McAfee 2005: Antivirus and Antispyware 11 1
(Contributors: Bethany Sweesy and Alan N. Hoffman)
Founded as McAfee Associates in 1989 to market anti virus software, McAfee had successfully
competed against market leader Symantec to become a major provider of computer security software.
Microsoft s announcement that it was entering the security business rocked the industry. What strategy
should McAfee pursue to continue as a market leader in the computer security industry?
INDUSTRY TWO: INTERNET COMPANIES
case 12 eBay, Inc. 12 1
(Contributors: Darrin Kuykendall, Vineet Walia, and Alan N. Hoffman)
By 2002, eBay had successfully captured the lion s share of the American online auction market and
was attempting to do the same globally. Meg Whitman, its CEO, was considering multiple strategic
alternatives with the goal of becoming the World s Online Marketplace . In their emphasis on
growth, management was aware that they needed to take care not to dilute brand value or company
image, but instead to focus on leveraging the firm s core competencies.
case 13 Amazon.com: An E Commerce Retailer 13 1
(Contributors: Patrick Collins, Robert J. Mockler, and Marc Gartenfeld)
Initially an online bookstore, Amazon.com successfully expanded to become the world s premier online
retailer. Although it earned its first operating profit in 2002, the company still lost $150 million that
year. Amazon was meeting its goals of increasing market share, greater product offerings, and overall
sales growth, but was under growing pressure to produce consistent profits and prove that its business
model worked financially over the long term.
case 14 Google: An Internet Search Service Company 14 1
(Contributors: Joseph Teye Kofi, Robert J. Mockler, and Marc Gartenfeld)
Google, an online company that provided a reliable Internet search engine, was founded in 1998 by
two Stanford Ph.D. students. Google soon replaced Yahoo as the market leader in Internet search
engines. The issue by 2005 was how to develop an effective differentiating enterprise wide strategy,
especially for the company s internet search segment.
case 15 AOL Time Warner, Inc.—A Bad Idea from the Start? 15 1
(Contributors: Vineet Walia, Irene Hagenbuch Sanjana, Stacey Foster, and Alan N. Hoffman)
The $183 billion acquisition of Time Warner by the Internet provider American Online (AOL) in 2001
was criticized as one of worst mergers of all time. Even though revenues increased for the combined
company in 2001 and 2002, both operating and net income dropped significantly. The stock price fell
from $64.75 in 2001 to $9.90 in 2003. Management was examining various turnaround strategies to
make the company profitable once again.
E2M CONTENTS
INDUSTRY THREE: RECREATION AND TRANSPORTATION
case 16 Harley Davidson, Inc., 2006: The Building of a Second Century 16 1
(Contributors: Patricia A. Ryan and Thomas L. Wheelen)
new and Harley Davidson is a modern success story of a company that turned itself around by emphasizing
exclusive quality manufacturing and image marketing. Encouraged by the high market demand for Harley s
motorcycles in the 1980s and 1990s, competitors increasingly challenged Harley s dominant position.
Meanwhile, Harley s sales were slowing as the Baby Boomers, the firm s target market, continued to age.
case 17 JetBlue Airways Success Story 17 1
(Contributors: Sanjib Dutta and Shirisha Regani)
JetBlue Airways in 2003 was a three year old no frills low cost American airline modeled on
Southwest Airlines. It earned profits when most in the industry were posting losses and facing
bankruptcy. The company cut costs, but also added services, such as a personal television set and a
comfortable leather seat for every passenger. Even though JetBlue focused on a market niche with little
competition, analysts wondered if the company s success could be maintained as the company grew.
case 18 Carnival Corporation pic (2006): Twelve Distinct Brands Serving
Seven Continents 18 1
(Contributors: MichaelJ. Keefe, John K. Ross III, BillJ. Middlebrook, and Thomas L. Wheelen)
new and With its fun ships, Carnival Cruises changed the way people think of ocean cruises. The cruise has
exclusive become more important than the destination. Through acquisition, Carnival expanded its product line
to encompass an entire range of industry offerings. How can Carnival continue to grow in the industry
it now dominates?
INDUSTRY FOUR: MASS MERCHANDISING
case 19 Wal Mart Stores, Inc.: Under Attack (2006) 19 1
(Contributors: James W. Camerius and J. David Hunger)
new and Wal Mart s low prices, wide selection, and courteous service generated high sales and profits, but its
exclusive stores tended to drive local stores out of business. The union contended that Wal Mart underpaid its
workers and offered them substandard benefits. Wal Mart s hard stance with suppliers was portrayed
by others as an abuse of power. Management faced lawsuits alleging discrimination against women
and underage workers operating dangerous machinery. The company had become a lightning rod for
any and all criticism against big business. What should management do?
case 20 The Home Depot, Inc. (2006): Executive Leadership 20 1
(Contributors: J. David Hunger and Thomas L. Wheelen)
new and Home Depot is the world s largest home improvement retailer. CEO Bob Nardelli was hired from GE
exclusive to replace the founders and to increase sales to the professional market. Nardelli s aggressive
management style contrasted with the company s supportive corporate culture to generate conflict and
employee turnover. With sales at an all time high and solid earnings per share, why was the financial
community downgrading Home Depot stock and why were the shareholders so upset?
INDUSTRY FIVE: SPECIALTY RETAILERS
case 21 Gap Inc.: A Specialty Apparel Retailer 21 1
(Contributors: Joanna Tochowicz, Robert J. Mockler, and Marc Gartenfeld)
Composed of Banana Republic, Gap, and Old Navy retail divisions, Gap, Inc., in September 2002
reported its 28th straight month of sales declines in stores open at least one year and a net loss for the
year. New product lines in the Gap stores were no longer appealing to regular customers and failed to
attract new ones. Overexpansion resulted in higher operating costs and in lower sales per individual store.
What should management do to turn around the Gap division and thus return the company to profitability?
CONTENTS ^SSfl
case 22 Tiffany Co.: A Specialty Fine Jewelry Retailer 22 1
(Contributors: Marcia Chan, Robert J. Mockler, and Marc Gartenfeld)
Tiffany was a retailer, designer, manufacturer, and distributor of luxury goods and specialty fine jewelry. It
was known for luxury brand quality, craftsmanship, and value jewelry, but faced a number of strong
competitors. Even though the company had almost twice as many stores (82) outside the United States than
it did within the United States (44), its international stores produced less than 42% of overall net sales. How
could the company increase its international sales and thus boost its overall sales and profits?
INDUSTRY SIX: ENTREPRENEURIAL VENTURES
case 23 Oprah Winfrey—The Story of an Entrepreneur 23 1
(Contributors: A. Mukund and A. Neela Radhika)
One of the world s most well known media personalities, Oprah Winfrey headed Forbes list of highest
paid entertainers. Not content with acting and hosting The Oprah Winfrey Show, Winfrey founded her
own movie studio, Harpo Productions, to produce feature films and to publish her own magazine in
partnership with Hearst Magazines. Despite being owner of a huge business empire, Winfrey could not
read a balance sheet and tended to make sudden decisions on the basis of gut feel .
case 24 Inner City Paint Corporation (Revised) 24 1
(Contributors: Donald F. Kuratko and Norman J. Gierlasinski)
Inner City Paint Corporation makes paint for sale to contractors in the Chicago area. The founder s
lack of management knowledge is creating difficulties for the firm, and the firm is in financial difficulty.
Unless something is done soon, it may go out of business.
INDUSTRY SEVEN: MANUFACTURING
case 25 Hasbro, Inc. 25 1
(Contributors: Kristina Fogg, Robert J. Mockler, and Marc Gartenfeld)
Hasbro was the second largest toy maker in the United States after Mattel, but was facing difficulty in
2005. Revenue in the U.S. toy industry had fallen from $318.9 million a year earlier to $263 million in
2005. Major retail outlets, such as Toys R Us and FAO Schwarz, were in bankruptcy. Hasbro, the
maker of Monopoly, GI Joe, My Little Pony, and Transformers, needed to develop an effective strategy
if it was to survive and prosper against aggressive competition in a changing industry.
case 26 The Haier Group: U.S. Expansion 26 1
(Contributors: YongJun Lu, Robert J. Mockler, and Marc Gartenfeld)
Already a market leader in China, Haier was rapidly expanding into Europe and the Americas. The
Chinese company faced a number of long term decisions needed to build an American presence. The
main problem for Haier was how to differentiate itself from General Electric, Whirlpool, Maytag, and
Electrolux in major appliances and from Sony, Panasonic, Philips, and LG in electronics to achieve a
winning competitive advantage.
case 27 Invacare Corporation, 2004 27 1
(Contributors: Walter E. Greene and Jeff Totten)
Invacare had grown from a minor player in home medical equipment to the world s largest
manufacturer of home medical equipment, such as wheelchairs, respiratory equipment, hospital type
beds, and motorized scooters. Although the company was well positioned to take advantage of an
aging population s growing need for health care, government regulations were making things difficult.
The challenge for Invacare s executive team was to decide how to deal with restrictive government
regulations and an increasingly competitive industry.
^2SB CONTENTS
case 28 The Carey Plant 28 1
(Contributors: Thomas L. Wheelen and J. David Hunger)
The Carey Plant had been a profitable manufacturer of quality machine parts until being acquired by
exclusive ffe Gardner Company. Since its acquisition, the plant has been plagued by labor problems, increasing
costs, leveling sales, and decreasing profits. Gardner Company s top management is attempting to
improve the plant s performance and better integrate its activities with those of the corporation by
selecting a new person to manage the plant.
INDUSTRY EIGHT: BEVERAGE/FOOD
case 29 Hershey Foods Company: Board of Directors and Stakeholders Conflict
oversale 29 1
(Contributor: Cynthia ClarkWilliams)
The CEO of the Hershey Trust Company (HTC), which owned 77% voting control of the Hershey
new Foods Company, was facing one of the most challenging decisions of his 25 year career as a trust
officer: whether or not to recommend to his board that the American chocolate making icon be sold.
Hershey Foods profit margins had been steadily declining against strong competition from competitors
Nestle and Mars, but the firm s new CEOs had introduced a turnaround strategy.
case 30 Panera Bread Company: Rising Fortunes? 30 1
(Contributors: Ted Repetti and Joyce P. Vincelette)
Panera Bread was a successful bakery cafe known for its quality soups and sandwiches. Even
though Panera s revenues and net earnings were rising rapidly, new unit expansion (419 new stores
over three years) had fueled this growth. The growth rate of average annualized unit volumes and
year to year comparable sales had actually dropped from 9.1% and 12.0%, respectively, in 2000 to
only 0.2% and 0.5% in 2003. Growth was slowing. Management was now looking for new growth
strategies.
case 31 Whole Foods Market (2005): Will There Be Enough Organic Food to Satisfy a
Growing Demand? 31 1
(Contributors: Patricia Harasta and Alan N. Hoffman)
Whole Foods Market was the world s leading retailer of natural and organic foods, with 172 stores
in North America and the United Kingdom. The supply of natural and organic foods was not keeping
up with steadily increasing demand and could become a serious problem for the company. As the
industry attracted more competitors, new prime locations were becoming harder to find. Whole Foods
CEO was uncertain about how to meet the company s aggressive growth targets.
case 32 Church Dwight Builds a Corporate Portfolio 32 1
(Contributor: Roy A. Cook)
Church Dwight, the maker of Arm Hammer baking soda, has used line extension to successfully
market multiple consumer products based on sodium bicarbonate. Searching for a new growth
strategy, the firm has turned to acquisitions. Can management successfully achieve a balancing act
based on finding growth through expanded uses of sodium bicarbonate while assimilating a divergent
group of consumer products into an expanding international footprint?
SECTION E Issues in Not For Pxofit Organizations
case 33 A.W.A.R.E. 33 1
(Contributors: John K. Ross, HI and Eric G. Kirby)
A.W.A.R.E is a not for profit therapeutic horseback riding organization in San Marcos, Texas.
Increasing expenses and declining revenues create a cashflow problem. With the Executive Director
retiring for health reasons, the board has to decide what must be done to save the organization.
CONTENTS IQ^I
SECTION F Mini Cases
case 34 Intel Corporation 34 1
(Contributor: J. David Hunger)
new and Although more than 80% of the world s personal computers and servers used its microprocessors, Intel
exclusive was facing strong competition from AMD in a maturing market. Sales growth was slowing. Profits
were expected to rise only 5% in 2006 compared to 40% annual growth previously. The new CEO
decided to reinvent Intel to avoid a fate of eventual decline.
case 35 AirTran Holdings, Inc. 35 1
(Contributor: Maryanne M. Rouse)
AirTran (known as ValuJet before a disastrous crash in the Everglades) was the second largest low fare
scheduled airline (after Southwest) in the United States in terms of departures and along with Southwest
the only U.S. airline to post a profit in 2004. The company s labor costs as a percentage of sales were
the lowest in the industry. Will AirTran continue to be successful in this highly competitive industry?
case 36 Boise Cascade/OfficeMax 36 1
(Contributor: Maryanne M. Rouse)
Boise Cascade, an integrated manufacturer and distributor of paper, packaging, and wood products,
purchased OfficeMax, third largest office supplies catalog retailer (after Staples and Office Depot), in
2003. Soon thereafter, Boise announced that it was selling its land, plants, headquarters location, and
even its name to an equity investment firm. On completion of the sale in 2004, the company assumed
the name of OfficeMax. Can this manufacturer become a successful retailer?
case 37 Dell, Inc. 37 1
(Contributor: J. David Hunger)
new and Dell was tne lar8est PC vendor in the world, but its chief advantages—direct marketing and power
exclusive over suppliers—were losing their punch. The percentage of 2005 PC sales via the phone and Internet
fell in the United States as the sales through U.S. retail stores rose—a channel in which Dell was
absent. By 2006, the once torrid growth in PC sales had slowed to about 5% a year. How should Dell
adjust to its changing environment?
case 38 Six Flags, Inc.: The 2006 Business Turnaround 38 1
(Contributor: Patricia A. Ryan )
new and Known for its fast roller coasters and adventure rides, Six Flags had successfully built a group of regional
exclusive theme and water parks in the United States. Nevertheless, the company had not turned a profit since
1998. Long term debt had increased to 61% of total assets by 2005. New management was implementing
a retrenchment strategy, but industry analysts were unsure if this would be enough to save the company.
case 39 HJ. Heinz Company 39 1
(Contributor: Maryanne M. Rouse)
Heinz, a manufacturer and marketer of processed food products, pursued global growth via market
penetration and acquisitions. Unfortunately, its modest sales growth was primarily from its acquisitions.
Now that the firm had divested a number of lines of businesses and brands to Del Monte Foods, analysts
wondered how a 20% smaller Heinz would grow its sales and profits in this very competitive industry.
case 40 Lowe s Companies, Inc. 40 1
(Contributor: Maryanne M. Rouse)
As the second largest U.S. big box home improvement retailer (behind Home Depot), Lowe s
competed in a highly fragmented industry. The company had grown with the increase in home
ownership and had no plans to expand internationally. With more than 1,000 stores in 2004, Lowe s
intended to increase its U.S. presence with 150 store openings per year in 2005 and 2006. Were there
limits to Lowe s current growth strategy?
QQ^ CONTENTS
case 41 Nike, Inc. 41 1
(Contributor: Maryanne M. Rouse)
Nike was the largest maker of athletic footwear and apparel in the world with a U.S. market share
exceeding 40%. Because almost all its products were manufactured by 700 independent contractors
(99% of which were in Southeast Asia), Nike was a target of activists opposing manufacturing practices
in developing nations. Although industry sales growth in athletic footwear was slowing, Nike refused to
change its product mix in 2002 to suit Foot Locker, the dominant global footwear retailer. Was it time
for Nike to change its strategy and practices?
case 42 Outback Steakhouse, Inc. 42 1
(Contributor: Maryanne M. Rouse)
With 1,185 restaurants in 50 states and 21 foreign countries, OSI was one of the largest casual dining
restaurant companies in the world. In addition to Outback Steakhouse, the company was composed of
Carrabba s Italian Grill, Fleming s Prime Steakhouse Wine Bar, Bonefish Grill, Roy s, Lee Roy
Selmon s, Cheeseburger in Paradise, and Paul Lee s Chinese Kitchen. Analysts wonder how long OSI
could continue to grow by adding new types of restaurants to its portfolio.
case 43 Movie Gallery, Inc. 43 1
(Contributor: J. David Hunger)
new and Movie Gallery was the second largest North American video retail rental company, specializing in the
exclusive rental and sale of movies and video games through its Movie Gallery and Hollywood Entertainment
stores. Growing through acquisitions, the company was heavily in debt. The recent rise of online video
rental services, such as Netflix, was cutting into retail store revenues and reducing the company s cash
flow. With just $135 million in cash at the end of 2005, Movie Gallery s management found itself
facing possible bankruptcy.
Additional Mini Cases Available on the Companion Web Site at
www. prenhall.com/wheelen
web case 1 Eli Lilly Company 1 1
(Contributor: Maryanne M. Rouse)
A leading pharmaceutical company, Eli Lilly produced a wide variety of ethical drugs and animal
health products. Despite an array of new products, the company s profits declined after the firm lost
patent protection for Prozac. The FDA found quality problems at several of the company s
manufacturing sites, resulting in a delay of new product approvals. How should Lilly position itself in
a very complex industry?
web case 2 Tech Data Corporation 2 1
(Contributor: Maryanne M. Rouse)
Tech Data, a distributor of information technology and logistics management, had rapidly grown
through acquisition to become the second largest global IT distributor. Sales and profits had been
declining, however, since 2001. As computers become more like a commodity, the increasing emphasis
on direct distribution by manufacturers threatened wholesale distributors such as Tech Data.
web case 3 Stryker Corporation 3 1
(Contributor: Maryanne M. Rouse)
Stryker was a leading maker of specialty medical and surgical products, a market expected to show
strong sales growth. Stryker marketed its products directly to hospitals and physicians in the United
States and 100 other countries. Given the decline in the number of hospitals due to consolidation and
cost containment efforts by government programs and health care insurers, the industry expected
continued downward pressure on prices. How could Stryker effectively deal with these developments to
continue its growth?
CONTENTS ^223
web case 4 Sykes Enterprises 4 1
(Contributor: Maryanne M. Rouse)
Sykes provided outsourced customer relationship management services worldwide in a highly
competitive, fragmented industry. Like its customers, Sykes had recently been closing its call centers in
America and moving to Asia in order to reduce costs. Small towns felt betrayed by the firm s decision
to leave—especially after they had provided financial incentives to attract the firm. Nevertheless,
declining revenue and net income caused the company s stock to drop to an all time low.
web case 5 Pfizer, Inc. 5 1
(Contributor: Maryanne M. Rouse)
With its acquisition in 2000 of rival pharmaceutical firm Warner Lambert for its Lipitor prescription
drug, Pfizer had become the world s largest ethical pharmaceutical company in terms of sales. Already
the leading company in the United States, Pfizer s purchase of Pharmacia in 2002 moved Pfizer from
fourth to first place in Europe. Will large size hurt or help the company s future growth and
profitability in an industry facing increasing scrutiny?
web case 6 Williams Sonoma 6 1
(Contributor: Maryanne M. Rouse)
Williams Sonoma was a specialty retailer of home products. Following a related diversification growth
strategy, the company operated 415 Williams Sonoma, Pottery Barn, and Hold Everything retail stores
throughout North America. Its direct sales segment included six retail catalogs and three e commerce
sites. The company must deal with increasing competition in this fragmented industry characterized by
low entry barriers.
web case 7 Tyson Foods, Inc. 7 1
(Contributor: Maryanne M. Rouse)
Tyson produced and distributed beef, chicken, and pork products in the United States. It acquired IBP,
a major competitor, but had been the subject of lawsuits by its employees and the EPA. How should
management deal with its poor public relations and position the company to gain and sustain
competitive advantage in an industry characterized by increasing consolidation and intense
competition?
web case 8 Southwest Airlines Company 8 1
(Contributor: Maryanne M. Rouse)
The fourth largest U.S. airline in terms of passengers carried and second largest in scheduled domestic
departures, Southwest was the only domestic airline to remain profitable in 2001. Emphasizing high
frequency, short haul, point to point, and low fare service, the airline had the lowest cost per available
seat mile flown of any U.S. major passenger carrier. Can Southwest continue to be successful as
competitors increasingly imitate its competitive strategy?
|
| adam_txt |
Brief Contents
PART ONE Introduction to Strategic Management and Business Policy 1
Chapter 1 Basic Concepts in Strategic Management 1
Chapter 2 Corporate Governance 34
Chapter 3 Ethics and Social Responsibility in Strategic Management 55
PART TWO Scanning the Environment 71
Chapter 4 Environmental Scanning and Industry Analysis 71
Chapter 5 Internal Scanning: Organizational Analysis 104
PART THREE Strategy Formulation 137
Chapter 6 Strategy Formulation: Situation Analysis and Business Strategy 137
Chapter 7 Strategy Formulation: Corporate Strategy 163
Chapter 8 Strategy Formulation: Functional Strategy and Strategic Choice 188
PART FOUR Strategy Implementation and Control 213
Chapter 9 Strategy Implementation: Organizing for Action 213
Chapter 10 Strategy Implementation: Staffing and Directing 238
Chapter 11 Evaluation and Control 261
PART FIVE Other Strategic Issues 291
Chapter 12 Strategic Issues in Managing Technology and Innovation 291
Chapter 13 Strategic Issues in Entrepreneurial Ventures and Small Businesses 316
Chapter 14 Strategic Issues in Not For Profit Organizations 338
PART SIX Introduction to Case Analysis 3S3
Chapter 15 Suggestions for Case Analysis 353
PART SEVEN Cases in Strategic Management 1 1
ix
Contents
Preface xxix
PART ONE Introduction to Strategic Management and Business Policy 1
Chapter 1 Basic Concepts in Strategic Management 1
1.1 The Study of Strategic Management 3
Phases of Strategic Management 3
Benefits of Strategic Management 5
1.2 Globalization and Electronic Commerce: Challenges to Strategic Management 6
Impact of Globalization 6
"Q Global Issue: Regional Trade Associations Replace National Trade Barriers 7
Electronic Commerce 7
1.3 Theories of Organizational Adaptation 8
1.4 Creating a Learning Organization 9
1.5 Basic Model of Strategic Management 10
Environmental Scanning 10
Strategy Formulation 12
Strategy Highlight 1.1: Do You Have a Good Mission Statement? 13
Strategy Implementation 16
Evaluation and Control 17
Feedback/Learning Process 18
1.6 Initiation of Strategy: Triggering Events 18
Strategy Highlight 1.2: Triggering Event at Sun Microsystems 19
1.7 Strategic Decision Making 20
What Makes a Decision Strategic? 20
Mintzberg's Modes of Strategic Decision Making 20
Strategic Decision Making Process: Aid to Better Decisions 21
1.8 The Strategic Audit: Aid to Strategic Decision Making 23
1.9 Conclusion 24
Appendix l.A Strategic Audit of a Corporation 26
Chapter 2 Corporate Governance 34
2.1 Role of the Board of Directors 36
Responsibilities of the Board 36
Members of a Board of Directors 39 xi
Q91 CONTENTS
Strategy Highlight 2.1: Agency Theory Versus Stewardship Theory in Corporate
Governance 41
(Q Global Issue: POSCO Adds an International Director 42
Nomination and Election of Board Members 44
Organization of the Board 44
Impact of the Sarbanes Oxley Act on U.S. Corporate Governance 46
Trends in Corporate Governance 47
2.2 The Role of Top Management 48
Responsibilities of Top Management 48
Strategy Highlight 2.2: CEO Hubris at Disney? 51
2.3 Conclusion 52
Chapter 3 Ethics and Social Responsibility in Strategic Management 55
3.1 Social Responsibilities of Strategic Decision Makers 56
Responsibilities of a Business Firm 57
Corporate Stakeholders 59
3.2 Ethical Decision Making 61
Strategy Highlight 3.1: The Johnson Johnson Credo 62
Some Reasons for Unethical Behavior 62
Strategy Highlight 3.2: Unethical Practices at Enron and WorldCom Exposed
byWhistle Blowers 63
(*y Global Issue: How Rule Based and Relationship Based Governance Systems Affect
Ethical Behavior 64
Encouraging Ethical Behavior 66
3.3 Conclusion 68
PART ENDING VIDEO CASE: Newbury Comics, Inc. 70
PART TWO Scanning the Environment 71
Chapter 4 Environmental Scanning and Industry Analysis 71
4.1 Environmental Scanning 73
Identifying External Environmental Variables 73
(¦%* Global Issue: Identifying Potential Markets in Developing Nations 79
Identifying External Strategic Factors 81
4.2 Industry Analysis: Analyzing the Task Environment 82
Porter's Approach to Industry Analysis 82
Industry Evolution 86
Categorizing International Industries 87
International Risk Assessment 87
Strategic Groups 88
CONTENTS ^^QH
Strategic Types 88
Hypercompetition 89
Strategy Highlight 4.1: Microsoft in a Hypercompetitive Industry 90
Using Key Success Factors to Create an Industry Matrix 91
4.3 Competitive Intelligence 92
Sources of Competitive Intelligence 93
Strategy Highlight 4.2: Evaluating Competitive Intelligence 94
Monitoring Competitors for Strategic Planning 94
4.4 Forecasting 95
Danger of Assumptions 95
Using Forecasting Techniques 96
4.5 The Strategic Audit: A Checklist for Environmental Scanning 97
4.6 Synthesis of External Factors—EFAS 97
4.7 Conclusion 99
Appendix 4.A Competitive Analysis Techniques 101
Chapter 5 Internal Scanning: Organizational Analysis 104
5.1 A Resource Based Approach to Organizational Analysis 106
Core and Distinctive Competencies 106
Using Resources to Gain Competitive Advantage 107
Determining the Sustainability of an Advantage 108
5.2 Business Models 110
5.3 Value Chain Analysis 111
Industry Value Chain Analysis 112
Corporate Value Chain Analysis 113
5.4 Scanning Functional Resources and Capabilities 114
Basic Organizational Structures 114
Corporate Culture: The Company Way 116
$} Global Issue: Managing Corporate Culture for Global Competitive Advantage:
ABB Versus Matsushita 117
Strategic Marketing Issues 117
Strategic Financial Issues 119
Strategic Research and Development (R D) Issues 120
Strategy Highlight 5.1: A Problem of Technology Transfer at Xerox Corporation 121
Strategic Operations Issues 123
Strategic Human Resource Management (HRM) Issues 125
Strategic Information Systems/Technology Issues 127
|^m CONTENTS
5.5 The Strategic Audit: A Checklist for Organizational Analysis 129
5.6 Synthesis of Internal Factors 129
5.7 Conclusion 131
PART ENDING VIDEO CASE: Newbury Comics, Inc. 134
PART THREE Strategy Formulation 137
Chapter 6 Strategy Formulation: Situation Analysis and Business Strategy 137
6.1 Situational Analysis: SWOT Analysis 138
Generating a Strategic Factors Analysis Summary (SEAS) Matrix 139
Finding a Propitious Niche 142
^) Global Issue: SAB Defends Its Propitious Niche 143
6.2 Review of Mission and Objectives 143
6.3 Generating Alternative Strategies by Using a TOWS Matrix 144
6.4 Business Strategies 145
Porter's Competitive Strategies 145
Strategy Highlight 6.1: Grim Reaper Uses Focused Differentiation Strategy 149
Cooperative Strategies 156
6.5 Conclusion 161
Chapter 7 Strategy Formulation: Corporate Strategy 163
7.1 Corporate Strategy 164
7.2 Directional Strategy 165
Growth Strategies 165
Strategy Highlight 7.1: Transaction Cost Economics Analyzes Vertical
Growth Strategy 168
Strategy Highlight 7.2: Screening Criteria for Concentric Diversification 171
International Entry Options 171
(Mfy Global Issue: Wal Mart Looks to International Markets for Growth 172
Controversies in Directional Growth Strategies 174
Stability Strategies 175
Retrenchment Strategies 176
Strategy Highlight 7.3: Turnaround Strategy at IBM 177
7.3 Portfolio Analysis 179
BCG Growth Share Matrix 179
GE Business Screen 181
Advantages and Limitations of Portfolio Analysis 182
7.4 Corporate Parenting 183
Developing a Corporate Parenting Strategy 184
CONTENTS ^^^^|
Horizontal Strategy and Multipoint Competition 185
7.5 Conclusion 185
Chapter 8 Strategy Formulation: Functioned Strategy and Strategic Choice 188
8.1 Functional Strategy 189
Marketing Strategy 190
Financial Strategy 191
Research and Development (R D) Strategy 192
Operations Strategy 193
(4y Global Issue: International Differences Alter Whirlpool's Operations Strategy 194
Purchasing Strategy 195
Logistics Strategy 196
Strategy Highlight 8.1: Staples Uses Internet to Replenish Inventory from 3M 197
Human Resource Management (HRM) Strategy 197
Information Technology Strategy 198
8.2 The Sourcing Decision: Location of Functions 198
8.3 Strategies to Avoid 201
8.4 Strategic Choice: Selecting of the Best Strategy 201
Constructing Corporate Scenarios 202
Process of Strategic Choice 207
8.5 Developing Policies 208
8.6 Conclusion 209
PART ENDING VIDEO CASE: Newbury Comics, Inc. 212
PART FOUR Strategy Implementation and Control 213
Chapter 9 Strategy Implementation: Organizing for Action 213
9.1 Strategy Implementation 214
9.2 Who Implements Strategy? 215
9.3 What Must Be Done? 216
Developing Programs, Budgets, and Procedures 216
Achieving Synergy 218
9.4 How Is Strategy to Be Implemented? Organizing for Action 219
Structure Follows Strategy 219
Stages of Corporate Development 220
Strategy Highlight 9.1: The Founder of the Modem Blocks Transition to Stage II 224
Organizational Life Cycle 224
Advanced Types of Organizational Structures 226
QJQI CONTENTS
Reengineering and Strategy Implementation 229
Six Sigma 230
Designing Jobs to Implement Strategy 231
Strategy Highlight 9.2: Designing Jobs with the Job Characteristics Model 232
9.5 International Issues in Strategy Implementation 232
(J§^ Global Issue: Multiple Headquarters: A Sixth Stage of International
Development? 234
9.6 Conclusion 236
Chapter 10 Strategy Implementation: Staffing and Directing 238
10.1 Staffing 240
Staffing Follows Strategy 240
Selection and Management Development 243
Strategy Highlight 10.1: How Hewlett Packard Identifies Potential Executives 244
Problems in Retrenchment 245
International Issues in Staffing 246
10.2 Leading 248
Managing Corporate Culture 248
Strategy Highlight 10.2: Admiral Assimilates Maytag's Culture 252
Action Planning 253
Management By Objectives 254
Total Quality Management 255
International Considerations in Leading 256
t4y Global Issue: Cultural Differences Create Implementation Problems in
Merger 258
10.3 Conclusion 258
Chapter 11 Evaluation and Control 261
11.1 Evaluation and Control in Strategic Management 263
11.2 Measuring Performance 263
Appropriate Measures 263
Types of Controls 265
Activity Based Costing 266
Enterprise Risk Management 267
Primary Measures of Corporate Performance 267
Strategy Highlight 11.1: Eyeballs and MUUs: Questionable Performance Measures 269
Primary Measures of Divisional and Functional Performance 273
International Measurement Issues 276
PQ Global Issue: Piracy: 15% 20% of China's Goods Are Counterfeit 277
CONTENTS |^^QH
11.3 Strategic Information Systems 278
Enterprise Resource Planning (ERP) 278
Divisional and Functional IS Support 279
11.42 Problems in Measuring Performance 279
Short Term Orientation 279
Goal Displacement 280
11.5 Guidelines for Proper Control 282
Strategy Highlight 11.2: Some Rules of Thumb in Strategy 282
11.6 Strategic Incentive Management 283
11.7 Conclusion 285
PART ENDING VIDEO CASE: Newbury Comics, Inc. 288
PART FIVE Other Strategic Issues 291
Chapter 12 Strategic Issues in Managing Technology and Innovation 291
12.1 The Role of Management 293
Strategy Highlight 12.1: Examples of Innovation Emphasis in Mission Statements 294
12.2 Environmental Scanning 295
External Scanning 295
Internal Scanning 298
12.3 Strategy Formulation 299
Product Versus Process R D 299
Technology Sourcing 300
Importance of Technological Competence 302
%} Global Issue: Use of Intellectual Property at Huawei Technologies 302
Categories of Innovation 303
Product Portfolio 305
12.4 Strategy Implementation 305
Developing an Innovative Entrepreneurial Culture 305
Organizing for Innovation: Corporate Entrepreneurship 306
Strategy Highlight 12.2: How Not to Develop an Innovative Organization 309
12.5 Evaluation and Control 309
Evaluation and Control Techniques 309
Evaluation and Control Measures 311
12.6 Conclusion 312
Chapter 13 Strategic Issues in Entrepreneurial Ventures and Small Businesses 316
13.1 Importance of Small Business and Entrepreneurial Ventures 317
B3H CONTENTS
(^ Global Issue: Entrepreneurship: Some Countries Are More Supportive
Than Others 318
Definition of Small Business Firms and Entrepreneurial Ventures 319
The Entrepreneur as a Strategist 319
13.2 Use of Strategic Planning and Strategic Management 319
Degree of Formality 320
Usefulness of the Strategic Management Model 320
Usefulness of the Strategic Decision Making Process 320
13.3 Issues in Corporate Governance 324
Boards of Directors and Advisory Boards 324
Impact of the Sarbanes Oxley Act 324
13.4 Issues in Environmental Scanning and Strategy Formulation 325
Sources of Innovation 326
Factors Affecting a New Venture's Success 327
Strategy Highlight 13.1: Suggestions for Locating an Opportunity and Formulating a
Business Strategy 329
13.5 Issues in Strategy Implementation 330
Substages of Small Business Development 330
Transfer of Power and Wealth in Family Businesses 332
13.6 Issues in Evaluation and Control 334
13.7 Conclusion 335
Chapter 14 Strategic Issues in Not For Profit Organizations 338
14.1 Why Not For Profit? 340
(Q Global Issue: Which Is Best for Society: Business or Not For Profit? 341
Importance of Revenue Source 341
Sources of Not For Profit Revenue 342
Patterns of Influence on Strategic Decision Making 343
Usefulness of Strategic Management Concepts and Techniques 343
14.2 Impact of Constraints on Strategic Management 344
Impact on Strategy Formulation 345
Impact of Strategy Implementation 346
Impact on Evaluation and Control 346
14.3 Not for Profit Strategies 347
Strategic Piggybacking 348
Strategy Highlight 14.1: Resources Needed for Successful Strategic
Piggybacking 349
CONTENTS 2QH
Mergers 349
Strategic Alliances 349
14.4 Conclusion 350
PART SIX Introduction to Case Analysis 353
Chapter 15 Suggestions for Case Analysis 353
15.1 The Case Method 355
15.2 Researching the Case Situation 355
15.3 Financial Analysis: A Place to Begin 356
Analyzing Financial Statements 356
("^ Global Issue: Financial Statements of Multinational Corporations: Not Always What
They Seem 359
Common Size Statements 359
Z Value, Index of Sustainable Growth, and Free Cash Flow 360
Useful Economic Measures 360
15.4 Format for Case Analysis: The Strategic Audit 361
15.5 Conclusion 363
Appendix 15.A Resources for Case Research 365
Appendix 15.B Suggested Case Analysis Methodology Using the Strategic Audit 368
Appendix 15.C Example of a Student Written Strategic Audit 371
Endnotes 376
PART SEVEN Cases in Strategic Management 1 1
SECTION A Corporate Governance, Social Responsibility, and Executive Leadership
case 1 The Recalcitrant Director at Byte Products, Inc.: Corporate Legality Versus
Corporate Responsibility 1 9
(Contributors: Dan R. Dalton, Richard A. Cosier, and Cathy A. Enz)
A plant location decision forces a confrontation between the board of directors and the CEO regarding
an issue in social responsibility and ethics.
case 2 The Wallace Group 2 1
(Contributor: Laurence J. Stybel)
Managers question the strategic direction of the company and how it is being managed by its founder
and CEO. Company growth has resulted not only in disorganization and confusion among employees,
but in poorer overall performance. How should the board deal with the founder of the company?
E9| CONTENTS
case 3 The Boeing Company's Board of Directors Fires the CEO 3 1
(Contributors: Kathryn E. Wheelen, Richard D. Wheelen, Thomas L. Wheelen II, and
Thomas L. Wheelen)
new and On February 25, 2005, Boeing's Chairman of the Board Lewis Plan was informed of a romantic affair
exclusive between Boeing's President and Chief Executive Officer, Harry Stonecipher, and a female executive.
What action should the board take?
SECTION B Ethics and Social Responsibility
case 4 The Audit 4 1
(Contributors: Gamewell D. Gantt, George A. Johnson and John A. Kilpatrick)
A questionable accounting practice by the company being audited puts a new CPA in a difficult
position. Although the practice is clearly wrong, she is being pressured by her manager to ignore it
because it is common in the industry.
case 5 Everyone Does It 5 1
(Contributors: Steven M. Cox and Shawana P. Johnson)
When Jim Willis, Marketing VP learns that the launch date for the company's new satellite will be late
new by at least a year, he is told by the company's president to continue using the earlier published date for
the launch. When Jim protests that the use of an incorrect date to market contracts was unethical, he is
told that spacecraft are never launched on time and that it is common industry practice to list
unrealistic launch dates. If a realistic date was used, no one would contract with the company.
SECTION C International Issues in Strategic Management
case 6 GlaxoSmithKline's Retaliation Against Cross Border Sales of Prescription Drugs 6 1
(Contributors: Sara Smith Shull and Rebecca J. Morris)
Double digit increases in costs for health care and pharmaceutical drugs were driving a number of
people in the United States to purchase cheaper drugs from Canadian pharmacies via the Internet. In
response, GlaxoSmithKline, the second largest pharmaceutical firm in the world, stopped supplying
Canadian drug wholesalers that were exporting drugs to the United States. Portrayed as a powerful,
mean spirited company more concerned with profits than with the health and well being of its
consumers, the company struggled to repair its public image in both Canada and the United States.
case 7 Starbucks' International Operations 7 1
(Contributors: Sanjib Dutta and K. Subhadra)
The growing saturation of the U.S. market in coffee houses was driving Starbucks to look outside North
America for continued growth. This presented a dilemma. Even though Starbucks' North American
coffee houses continued to be profitable, the firm's international operations were losing money.
Analysts felt that the company should rethink its entry strategy for international markets.
case 8 Turkcell: The Only Turk on Wall Street 8 1
(Contributor: Sue Greenfeld)
Having more than 60% of the Turkish market for mobile phones, Turkcell was the only Turkish
company listed on the New York Stock Exchange. With three additional Turkish competitors entering
the market and an onerous 66% tax burden, management wondered how it should position the
company for success in the coming years. What strategies will enable Turkcell to become one of the
largest mobile communications operators in Europe?
case 9 Guajilote Cooperativo Forestal, Honduras 9 1
(Contributors: Nathan Nebbe andJ. David Hunger)
exclusive Tms forestry cooperative has the right to harvest, transport, and sell fallen mahogany trees in La
Muralla National Park of Honduras. Although the cooperative has been successful thus far, it was
facing some serious issues: low prices for its product, illegal logging, deforestation by poor farmers,
and possible world trade restrictions on the sale of mahogany.
CONTENTS ^^^^|
SECTION D General Issues in Strategic Management
INDUSTRY ONE: INFORMATION TECHNOLOGY
case 10 Apple Computer and Steve P. Jobs (2006): Pixar Animation and Walt Disney
Company 10 1
(Contributors: Moustafa H. Abedelsamad, Hitesh (John) Adhia, David B. Croll,
Alan N. Hoffman, Charles E. Michaels Jr., and Thomas L. Wheelen)
new and Apple, the first company to mass market a personal computer, had been the darling of Wall Street in
exclusive the 1980s, but by the mid 1990s, the company was in serious difficulty. After being expelled from the
company in 1985, Steve Jobs returned as CEO in 1997 to reenergize the firm. The introduction of the
iPod in 2001 catapulted Apple back into the spotlight. How can Apple continue its success and avoid
becoming just another niche company? How dependent is the company on Steve Jobs?
case 11 McAfee 2005: Antivirus and Antispyware 11 1
(Contributors: Bethany Sweesy and Alan N. Hoffman)
Founded as McAfee Associates in 1989 to market anti virus software, McAfee had successfully
competed against market leader Symantec to become a major provider of computer security software.
Microsoft's announcement that it was entering the security business rocked the industry. What strategy
should McAfee pursue to continue as a market leader in the computer security industry?
INDUSTRY TWO: INTERNET COMPANIES
case 12 eBay, Inc. 12 1
(Contributors: Darrin Kuykendall, Vineet Walia, and Alan N. Hoffman)
By 2002, eBay had successfully captured the lion's share of the American online auction market and
was attempting to do the same globally. Meg Whitman, its CEO, was considering multiple strategic
alternatives with the goal of becoming the "World's Online Marketplace'.' In their emphasis on
growth, management was aware that they needed to take care not to dilute brand value or company
image, but instead to focus on leveraging the firm's core competencies.
case 13 Amazon.com: An E Commerce Retailer 13 1
(Contributors: Patrick Collins, Robert J. Mockler, and Marc Gartenfeld)
Initially an online bookstore, Amazon.com successfully expanded to become the world's premier online
retailer. Although it earned its first operating profit in 2002, the company still lost $150 million that
year. Amazon was meeting its goals of increasing market share, greater product offerings, and overall
sales growth, but was under growing pressure to produce consistent profits and prove that its business
model worked financially over the long term.
case 14 Google: An Internet Search Service Company 14 1
(Contributors: Joseph Teye Kofi, Robert J. Mockler, and Marc Gartenfeld)
Google, an online company that provided a reliable Internet search engine, was founded in 1998 by
two Stanford Ph.D. students. Google soon replaced Yahoo as the market leader in Internet search
engines. The issue by 2005 was how to develop an effective differentiating enterprise wide strategy,
especially for the company's internet search segment.
case 15 AOL Time Warner, Inc.—A Bad Idea from the Start? 15 1
(Contributors: Vineet Walia, Irene Hagenbuch Sanjana, Stacey Foster, and Alan N. Hoffman)
The $183 billion acquisition of Time Warner by the Internet provider American Online (AOL) in 2001
was criticized as one of worst mergers of all time. Even though revenues increased for the combined
company in 2001 and 2002, both operating and net income dropped significantly. The stock price fell
from $64.75 in 2001 to $9.90 in 2003. Management was examining various turnaround strategies to
make the company profitable once again.
E2M CONTENTS
INDUSTRY THREE: RECREATION AND TRANSPORTATION
case 16 Harley Davidson, Inc., 2006: The Building of a Second Century 16 1
(Contributors: Patricia A. Ryan and Thomas L. Wheelen)
new and Harley Davidson is a modern success story of a company that turned itself around by emphasizing
exclusive quality manufacturing and image marketing. Encouraged by the high market demand for Harley's
motorcycles in the 1980s and 1990s, competitors increasingly challenged Harley's dominant position.
Meanwhile, Harley's sales were slowing as the Baby Boomers, the firm's target market, continued to age.
case 17 JetBlue Airways'Success Story 17 1
(Contributors: Sanjib Dutta and Shirisha Regani)
JetBlue Airways in 2003 was a three year old no frills low cost American airline modeled on
Southwest Airlines. It earned profits when most in the industry were posting losses and facing
bankruptcy. The company cut costs, but also added services, such as a personal television set and a
comfortable leather seat for every passenger. Even though JetBlue focused on a market niche with little
competition, analysts wondered if the company's success could be maintained as the company grew.
case 18 Carnival Corporation pic (2006): Twelve Distinct Brands Serving
Seven Continents 18 1
(Contributors: MichaelJ. Keefe, John K. Ross III, BillJ. Middlebrook, and Thomas L. Wheelen)
new and With its "fun ships," Carnival Cruises changed the way people think of ocean cruises. The cruise has
exclusive become more important than the destination. Through acquisition, Carnival expanded its product line
to encompass an entire range of industry offerings. How can Carnival continue to grow in the industry
it now dominates?
INDUSTRY FOUR: MASS MERCHANDISING
case 19 Wal Mart Stores, Inc.: Under Attack (2006) 19 1
(Contributors: James W. Camerius and J. David Hunger)
new and Wal Mart's low prices, wide selection, and courteous service generated high sales and profits, but its
exclusive stores tended to drive local stores out of business. The union contended that Wal Mart underpaid its
workers and offered them substandard benefits. Wal Mart's hard stance with suppliers was portrayed
by others as an abuse of power. Management faced lawsuits alleging discrimination against women
and underage workers operating dangerous machinery. The company had become a lightning rod for
any and all criticism against big business. What should management do?
case 20 The Home Depot, Inc. (2006): Executive Leadership 20 1
(Contributors: J. David Hunger and Thomas L. Wheelen)
new and Home Depot is the world's largest home improvement retailer. CEO Bob Nardelli was hired from GE
exclusive to replace the founders and to increase sales to the professional market. Nardelli's aggressive
management style contrasted with the company's supportive corporate culture to generate conflict and
employee turnover. With sales at an all time high and solid earnings per share, why was the financial
community downgrading Home Depot stock and why were the shareholders so upset?
INDUSTRY FIVE: SPECIALTY RETAILERS
case 21 Gap Inc.: A Specialty Apparel Retailer 21 1
(Contributors: Joanna Tochowicz, Robert J. Mockler, and Marc Gartenfeld)
Composed of Banana Republic, Gap, and Old Navy retail divisions, Gap, Inc., in September 2002
reported its 28th straight month of sales declines in stores open at least one year and a net loss for the
year. New product lines in the Gap stores were no longer appealing to regular customers and failed to
attract new ones. Overexpansion resulted in higher operating costs and in lower sales per individual store.
What should management do to turn around the Gap division and thus return the company to profitability?
CONTENTS ^SSfl
case 22 Tiffany Co.: A Specialty Fine Jewelry Retailer 22 1
(Contributors: Marcia Chan, Robert J. Mockler, and Marc Gartenfeld)
Tiffany was a retailer, designer, manufacturer, and distributor of luxury goods and specialty fine jewelry. It
was known for luxury brand quality, craftsmanship, and value jewelry, but faced a number of strong
competitors. Even though the company had almost twice as many stores (82) outside the United States than
it did within the United States (44), its international stores produced less than 42% of overall net sales. How
could the company increase its international sales and thus boost its overall sales and profits?
INDUSTRY SIX: ENTREPRENEURIAL VENTURES
case 23 Oprah Winfrey—The Story of an Entrepreneur 23 1
(Contributors: A. Mukund and A. Neela Radhika)
One of the world's most well known media personalities, Oprah Winfrey headed Forbes' list of highest
paid entertainers. Not content with acting and hosting The Oprah Winfrey Show, Winfrey founded her
own movie studio, Harpo Productions, to produce feature films and to publish her own magazine in
partnership with Hearst Magazines. Despite being owner of a huge business empire, Winfrey could not
read a balance sheet and tended to make sudden decisions on the basis of "gut feel'.'
case 24 Inner City Paint Corporation (Revised) 24 1
(Contributors: Donald F. Kuratko and Norman J. Gierlasinski)
Inner City Paint Corporation makes paint for sale to contractors in the Chicago area. The founder's
lack of management knowledge is creating difficulties for the firm, and the firm is in financial difficulty.
Unless something is done soon, it may go out of business.
INDUSTRY SEVEN: MANUFACTURING
case 25 Hasbro, Inc. 25 1
(Contributors: Kristina Fogg, Robert J. Mockler, and Marc Gartenfeld)
Hasbro was the second largest toy maker in the United States after Mattel, but was facing difficulty in
2005. Revenue in the U.S. toy industry had fallen from $318.9 million a year earlier to $263 million in
2005. Major retail outlets, such as Toys R' Us and FAO Schwarz, were in bankruptcy. Hasbro, the
maker of Monopoly, GI Joe, My Little Pony, and Transformers, needed to develop an effective strategy
if it was to survive and prosper against aggressive competition in a changing industry.
case 26 The Haier Group: U.S. Expansion 26 1
(Contributors: YongJun Lu, Robert J. Mockler, and Marc Gartenfeld)
Already a market leader in China, Haier was rapidly expanding into Europe and the Americas. The
Chinese company faced a number of long term decisions needed to build an American presence. The
main problem for Haier was how to differentiate itself from General Electric, Whirlpool, Maytag, and
Electrolux in major appliances and from Sony, Panasonic, Philips, and LG in electronics to achieve a
winning competitive advantage.
case 27 Invacare Corporation, 2004 27 1
(Contributors: Walter E. Greene and Jeff Totten)
Invacare had grown from a minor player in home medical equipment to the world's largest
manufacturer of home medical equipment, such as wheelchairs, respiratory equipment, hospital type
beds, and motorized scooters. Although the company was well positioned to take advantage of an
aging population's growing need for health care, government regulations were making things difficult.
The challenge for Invacare's executive team was to decide how to deal with restrictive government
regulations and an increasingly competitive industry.
^2SB CONTENTS
case 28 The Carey Plant 28 1
(Contributors: Thomas L. Wheelen and J. David Hunger)
The Carey Plant had been a profitable manufacturer of quality machine parts until being acquired by
exclusive ffe Gardner Company. Since its acquisition, the plant has been plagued by labor problems, increasing
costs, leveling sales, and decreasing profits. Gardner Company's top management is attempting to
improve the plant's performance and better integrate its activities with those of the corporation by
selecting a new person to manage the plant.
INDUSTRY EIGHT: BEVERAGE/FOOD
case 29 Hershey Foods Company: Board of Directors and Stakeholders Conflict
oversale 29 1
(Contributor: Cynthia ClarkWilliams)
The CEO of the Hershey Trust Company (HTC), which owned 77% voting control of the Hershey
new Foods Company, was facing one of the most challenging decisions of his 25 year career as a trust
officer: whether or not to recommend to his board that the American chocolate making icon be sold.
Hershey Foods' profit margins had been steadily declining against strong competition from competitors
Nestle and Mars, but the firm's new CEOs had introduced a turnaround strategy.
case 30 Panera Bread Company: Rising Fortunes? 30 1
(Contributors: Ted Repetti and Joyce P. Vincelette)
Panera Bread was a successful bakery cafe known for its quality soups and sandwiches. Even
though Panera's revenues and net earnings were rising rapidly, new unit expansion (419 new stores
over three years) had fueled this growth. The growth rate of average annualized unit volumes and
year to year comparable sales had actually dropped from 9.1% and 12.0%, respectively, in 2000 to
only 0.2% and 0.5% in 2003. Growth was slowing. Management was now looking for new growth
strategies.
case 31 Whole Foods Market (2005): Will There Be Enough Organic Food to Satisfy a
Growing Demand? 31 1
(Contributors: Patricia Harasta and Alan N. Hoffman)
Whole Foods Market was the world's leading retailer of natural and organic foods, with 172 stores
in North America and the United Kingdom. The supply of natural and organic foods was not keeping
up with steadily increasing demand and could become a serious problem for the company. As the
industry attracted more competitors, new prime locations were becoming harder to find. Whole Foods'
CEO was uncertain about how to meet the company's aggressive growth targets.
case 32 Church Dwight Builds a Corporate Portfolio 32 1
(Contributor: Roy A. Cook)
Church Dwight, the maker of Arm Hammer baking soda, has used line extension to successfully
market multiple consumer products based on sodium bicarbonate. Searching for a new growth
strategy, the firm has turned to acquisitions. Can management successfully achieve a balancing act
based on finding growth through expanded uses of sodium bicarbonate while assimilating a divergent
group of consumer products into an expanding international footprint?
SECTION E Issues in Not For Pxofit Organizations
case 33 A.W.A.R.E. 33 1
(Contributors: John K. Ross, HI and Eric G. Kirby)
A.W.A.R.E is a not for profit therapeutic horseback riding organization in San Marcos, Texas.
Increasing expenses and declining revenues create a cashflow problem. With the Executive Director
retiring for health reasons, the board has to decide what must be done to save the organization.
CONTENTS IQ^I
SECTION F Mini Cases
case 34 Intel Corporation 34 1
(Contributor: J. David Hunger)
new and Although more than 80% of the world's personal computers and servers used its microprocessors, Intel
exclusive was facing strong competition from AMD in a maturing market. Sales growth was slowing. Profits
were expected to rise only 5% in 2006 compared to 40% annual growth previously. The new CEO
decided to reinvent Intel to avoid a fate of eventual decline.
case 35 AirTran Holdings, Inc. 35 1
(Contributor: Maryanne M. Rouse)
AirTran (known as ValuJet before a disastrous crash in the Everglades) was the second largest low fare
scheduled airline (after Southwest) in the United States in terms of departures and along with Southwest
the only U.S. airline to post a profit in 2004. The company's labor costs as a percentage of sales were
the lowest in the industry. Will AirTran continue to be successful in this highly competitive industry?
case 36 Boise Cascade/OfficeMax 36 1
(Contributor: Maryanne M. Rouse)
Boise Cascade, an integrated manufacturer and distributor of paper, packaging, and wood products,
purchased OfficeMax, third largest office supplies catalog retailer (after Staples and Office Depot), in
2003. Soon thereafter, Boise announced that it was selling its land, plants, headquarters location, and
even its name to an equity investment firm. On completion of the sale in 2004, the company assumed
the name of OfficeMax. Can this manufacturer become a successful retailer?
case 37 Dell, Inc. 37 1
(Contributor: J. David Hunger)
new and Dell was tne lar8est PC vendor in the world, but its chief advantages—direct marketing and power
exclusive over suppliers—were losing their punch. The percentage of 2005 PC sales via the phone and Internet
fell in the United States as the sales through U.S. retail stores rose—a channel in which Dell was
absent. By 2006, the once torrid growth in PC sales had slowed to about 5% a year. How should Dell
adjust to its changing environment?
case 38 Six Flags, Inc.: The 2006 Business Turnaround 38 1
(Contributor: Patricia A. Ryan )
new and Known for its fast roller coasters and adventure rides, Six Flags had successfully built a group of regional
exclusive theme and water parks in the United States. Nevertheless, the company had not turned a profit since
1998. Long term debt had increased to 61% of total assets by 2005. New management was implementing
a retrenchment strategy, but industry analysts were unsure if this would be enough to save the company.
case 39 HJ. Heinz Company 39 1
(Contributor: Maryanne M. Rouse)
Heinz, a manufacturer and marketer of processed food products, pursued global growth via market
penetration and acquisitions. Unfortunately, its modest sales growth was primarily from its acquisitions.
Now that the firm had divested a number of lines of businesses and brands to Del Monte Foods, analysts
wondered how a 20% smaller Heinz would grow its sales and profits in this very competitive industry.
case 40 Lowe's Companies, Inc. 40 1
(Contributor: Maryanne M. Rouse)
As the second largest U.S. "big box" home improvement retailer (behind Home Depot), Lowe's
competed in a highly fragmented industry. The company had grown with the increase in home
ownership and had no plans to expand internationally. With more than 1,000 stores in 2004, Lowe's
intended to increase its U.S. presence with 150 store openings per year in 2005 and 2006. Were there
limits to Lowe's current growth strategy?
QQ^ CONTENTS
case 41 Nike, Inc. 41 1
(Contributor: Maryanne M. Rouse)
Nike was the largest maker of athletic footwear and apparel in the world with a U.S. market share
exceeding 40%. Because almost all its products were manufactured by 700 independent contractors
(99% of which were in Southeast Asia), Nike was a target of activists opposing manufacturing practices
in developing nations. Although industry sales growth in athletic footwear was slowing, Nike refused to
change its product mix in 2002 to suit Foot Locker, the dominant global footwear retailer. Was it time
for Nike to change its strategy and practices?
case 42 Outback Steakhouse, Inc. 42 1
(Contributor: Maryanne M. Rouse)
With 1,185 restaurants in 50 states and 21 foreign countries, OSI was one of the largest casual dining
restaurant companies in the world. In addition to Outback Steakhouse, the company was composed of
Carrabba's Italian Grill, Fleming's Prime Steakhouse Wine Bar, Bonefish Grill, Roy's, Lee Roy
Selmon's, Cheeseburger in Paradise, and Paul Lee's Chinese Kitchen. Analysts wonder how long OSI
could continue to grow by adding new types of restaurants to its portfolio.
case 43 Movie Gallery, Inc. 43 1
(Contributor: J. David Hunger)
new and Movie Gallery was the second largest North American video retail rental company, specializing in the
exclusive rental and sale of movies and video games through its Movie Gallery and Hollywood Entertainment
stores. Growing through acquisitions, the company was heavily in debt. The recent rise of online video
rental services, such as Netflix, was cutting into retail store revenues and reducing the company's cash
flow. With just $135 million in cash at the end of 2005, Movie Gallery's management found itself
facing possible bankruptcy.
Additional Mini Cases Available on the Companion Web Site at
www. prenhall.com/wheelen
web case 1 Eli Lilly Company 1 1
(Contributor: Maryanne M. Rouse)
A leading pharmaceutical company, Eli Lilly produced a wide variety of ethical drugs and animal
health products. Despite an array of new products, the company's profits declined after the firm lost
patent protection for Prozac. The FDA found quality problems at several of the company's
manufacturing sites, resulting in a delay of new product approvals. How should Lilly position itself in
a very complex industry?
web case 2 Tech Data Corporation 2 1
(Contributor: Maryanne M. Rouse)
Tech Data, a distributor of information technology and logistics management, had rapidly grown
through acquisition to become the second largest global IT distributor. Sales and profits had been
declining, however, since 2001. As computers become more like a commodity, the increasing emphasis
on direct distribution by manufacturers threatened wholesale distributors such as Tech Data.
web case 3 Stryker Corporation 3 1
(Contributor: Maryanne M. Rouse)
Stryker was a leading maker of specialty medical and surgical products, a market expected to show
strong sales growth. Stryker marketed its products directly to hospitals and physicians in the United
States and 100 other countries. Given the decline in the number of hospitals due to consolidation and
cost containment efforts by government programs and health care insurers, the industry expected
continued downward pressure on prices. How could Stryker effectively deal with these developments to
continue its growth?
CONTENTS ^223
web case 4 Sykes Enterprises 4 1
(Contributor: Maryanne M. Rouse)
Sykes provided outsourced customer relationship management services worldwide in a highly
competitive, fragmented industry. Like its customers, Sykes had recently been closing its call centers in
America and moving to Asia in order to reduce costs. Small towns felt betrayed by the firm's decision
to leave—especially after they had provided financial incentives to attract the firm. Nevertheless,
declining revenue and net income caused the company's stock to drop to an all time low.
web case 5 Pfizer, Inc. 5 1
(Contributor: Maryanne M. Rouse)
With its acquisition in 2000 of rival pharmaceutical firm Warner Lambert for its Lipitor prescription
drug, Pfizer had become the world's largest ethical pharmaceutical company in terms of sales. Already
the leading company in the United States, Pfizer's purchase of Pharmacia in 2002 moved Pfizer from
fourth to first place in Europe. Will large size hurt or help the company's future growth and
profitability in an industry facing increasing scrutiny?
web case 6 Williams Sonoma 6 1
(Contributor: Maryanne M. Rouse)
Williams Sonoma was a specialty retailer of home products. Following a related diversification growth
strategy, the company operated 415 Williams Sonoma, Pottery Barn, and Hold Everything retail stores
throughout North America. Its direct sales segment included six retail catalogs and three e commerce
sites. The company must deal with increasing competition in this fragmented industry characterized by
low entry barriers.
web case 7 Tyson Foods, Inc. 7 1
(Contributor: Maryanne M. Rouse)
Tyson produced and distributed beef, chicken, and pork products in the United States. It acquired IBP,
a major competitor, but had been the subject of lawsuits by its employees and the EPA. How should
management deal with its poor public relations and position the company to gain and sustain
competitive advantage in an industry characterized by increasing consolidation and intense
competition?
web case 8 Southwest Airlines Company 8 1
(Contributor: Maryanne M. Rouse)
The fourth largest U.S. airline in terms of passengers carried and second largest in scheduled domestic
departures, Southwest was the only domestic airline to remain profitable in 2001. Emphasizing high
frequency, short haul, point to point, and low fare service, the airline had the lowest cost per available
seat mile flown of any U.S. major passenger carrier. Can Southwest continue to be successful as
competitors increasingly imitate its competitive strategy? |
| any_adam_object | 1 |
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| author | Wheelen, Thomas L. 1935-2011 Hunger, J. David 1941-2014 |
| author_GND | (DE-588)141563990 (DE-588)170544133 |
| author_facet | Wheelen, Thomas L. 1935-2011 Hunger, J. David 1941-2014 |
| author_role | aut aut |
| author_sort | Wheelen, Thomas L. 1935-2011 |
| author_variant | t l w tl tlw j d h jd jdh |
| building | Verbundindex |
| bvnumber | BV022549701 |
| callnumber-first | H - Social Science |
| callnumber-label | HD30 |
| callnumber-raw | HD30.28 |
| callnumber-search | HD30.28 |
| callnumber-sort | HD 230.28 |
| callnumber-subject | HD - Industries, Land Use, Labor |
| classification_rvk | QP 320 QP 390 |
| ctrlnum | (OCoLC)132582610 (DE-599)DNB 2007019734 |
| dewey-full | 658.4/012 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.4/012 |
| dewey-search | 658.4/012 |
| dewey-sort | 3658.4 212 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| edition | 11. ed. |
| format | Book |
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| genre | (DE-588)4522595-3 Fallstudiensammlung gnd-content |
| genre_facet | Fallstudiensammlung |
| id | DE-604.BV022549701 |
| illustrated | Illustrated |
| index_date | 2024-07-02T18:13:05Z |
| indexdate | 2024-07-09T21:00:02Z |
| institution | BVB |
| isbn | 013232346X 9780132323468 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015756036 |
| oclc_num | 132582610 |
| open_access_boolean | |
| owner | DE-703 DE-526 DE-11 DE-634 DE-188 |
| owner_facet | DE-703 DE-526 DE-11 DE-634 DE-188 |
| physical | Getr. Zählung Ill., graph. Darst. |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | Pearson/Prentice Hall |
| record_format | marc |
| spelling | Wheelen, Thomas L. 1935-2011 Verfasser (DE-588)141563990 aut Strategic management and business policy concepts and cases Thomas L. Wheelen ; J. David Hunger 11. ed. Upper Saddle River, NJ Pearson/Prentice Hall 2008 Getr. Zählung Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references Business & management bicssc Strategic planning Strategic planning Case studies Unternehmenspolitik (DE-588)4078610-9 gnd rswk-swf Unternehmensleitung (DE-588)4233771-9 gnd rswk-swf Unternehmen (DE-588)4061963-1 gnd rswk-swf Unternehmensplanung (DE-588)4078609-2 gnd rswk-swf Strategische Planung (DE-588)4309237-8 gnd rswk-swf Nachhaltigkeit (DE-588)4326464-5 gnd rswk-swf Fallstudie (DE-588)4124897-1 gnd rswk-swf Strategisches Management (DE-588)4124261-0 gnd rswk-swf (DE-588)4522595-3 Fallstudiensammlung gnd-content Strategisches Management (DE-588)4124261-0 s Unternehmenspolitik (DE-588)4078610-9 s Nachhaltigkeit (DE-588)4326464-5 s Strategische Planung (DE-588)4309237-8 s Fallstudie (DE-588)4124897-1 s 1\p DE-604 Unternehmensplanung (DE-588)4078609-2 s 2\p DE-604 Unternehmensleitung (DE-588)4233771-9 s 3\p DE-604 Unternehmen (DE-588)4061963-1 s 4\p DE-604 Hunger, J. David 1941-2014 Verfasser (DE-588)170544133 aut http://www.loc.gov/catdir/toc/ecip0718/2007019734.html Table of contents only HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015756036&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 3\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 4\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Wheelen, Thomas L. 1935-2011 Hunger, J. David 1941-2014 Strategic management and business policy concepts and cases Business & management bicssc Strategic planning Strategic planning Case studies Unternehmenspolitik (DE-588)4078610-9 gnd Unternehmensleitung (DE-588)4233771-9 gnd Unternehmen (DE-588)4061963-1 gnd Unternehmensplanung (DE-588)4078609-2 gnd Strategische Planung (DE-588)4309237-8 gnd Nachhaltigkeit (DE-588)4326464-5 gnd Fallstudie (DE-588)4124897-1 gnd Strategisches Management (DE-588)4124261-0 gnd |
| subject_GND | (DE-588)4078610-9 (DE-588)4233771-9 (DE-588)4061963-1 (DE-588)4078609-2 (DE-588)4309237-8 (DE-588)4326464-5 (DE-588)4124897-1 (DE-588)4124261-0 (DE-588)4522595-3 |
| title | Strategic management and business policy concepts and cases |
| title_auth | Strategic management and business policy concepts and cases |
| title_exact_search | Strategic management and business policy concepts and cases |
| title_exact_search_txtP | Strategic management and business policy concepts and cases |
| title_full | Strategic management and business policy concepts and cases Thomas L. Wheelen ; J. David Hunger |
| title_fullStr | Strategic management and business policy concepts and cases Thomas L. Wheelen ; J. David Hunger |
| title_full_unstemmed | Strategic management and business policy concepts and cases Thomas L. Wheelen ; J. David Hunger |
| title_short | Strategic management and business policy |
| title_sort | strategic management and business policy concepts and cases |
| title_sub | concepts and cases |
| topic | Business & management bicssc Strategic planning Strategic planning Case studies Unternehmenspolitik (DE-588)4078610-9 gnd Unternehmensleitung (DE-588)4233771-9 gnd Unternehmen (DE-588)4061963-1 gnd Unternehmensplanung (DE-588)4078609-2 gnd Strategische Planung (DE-588)4309237-8 gnd Nachhaltigkeit (DE-588)4326464-5 gnd Fallstudie (DE-588)4124897-1 gnd Strategisches Management (DE-588)4124261-0 gnd |
| topic_facet | Business & management Strategic planning Strategic planning Case studies Unternehmenspolitik Unternehmensleitung Unternehmen Unternehmensplanung Strategische Planung Nachhaltigkeit Fallstudie Strategisches Management Fallstudiensammlung |
| url | http://www.loc.gov/catdir/toc/ecip0718/2007019734.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015756036&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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