Essentials of strategic management: effective formulation and execution of strategy
Saved in:
| Main Author: | |
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| Format: | Book |
| Language: | English |
| Published: |
Stuttgart
Schäffer-Poeschel Verlag
2016
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XV, 510 Seiten Illustrationen, Diagramme |
| ISBN: | 9783791032856 |
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Record in the Search Index
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| adam_text | Table of Contents
Preface ....................................................................... V
1 Strategic Management Foundations ................................ 1
1.1 What Is Strategy?................................................ 1
1.1.1 Origins and Views of Strategy.................................... 3
1.1.1.1 Roots of Strategy ............................................... 4
1.1.1.2 Business Views of Strategy: the 5 P s............................ 6
1.1.2 Understanding Strategy with Six Principles....................... 7
1.1.2.1 Quest for Competitive Advantage.................................. 8
1.1.2.2 Fit of Markets and Resources.................................... 10
1.1.2.3 Being Different and Making Choices ............................. 14
1.1.2.4 Path to a Destination........................................... 18
1.1.2.5 Consistency in Behavior......................................... 21
1.1.2.6 Multiple Level and Theme Alignment.............................. 22
1.1.3 Measuring Competitive Advantage and Company Performance .... 26
1.1.3.1 Economic Value ................................................. 26
1.1.3.2 Accounting Performance (Profitability).......................... 28
1.1.3.3 Economic Performance and Shareholder Value...................... 32
1.1.3.4 Corporate Sustainability Performance............................ 33
1.2 S trategic Decision Making ....................................... 38
1.2.1 Foundations of Decision Making ................................. 38
1.2.1.1 Rational Model.................................................. 38
1.2.1.2 Bounded Rationality ............................................ 39
1.2.1.3 Intuition....................................................... 40
1.2.2 Strategic Decision Situations................................... 42
1.2.2.1 Characteristics of Strategic Decision Situations................ 42
1.2.2.2 Dealing with Strategic Decision Situations ..................... 44
1.2.2.3 Cognitive Biases and How to Counter Them........................ 45
1.3 What is Strategic Management?................................... 48
1.3.1 Evolution of Strategic Management............................... 49
1.3.2 Schools of Thought and Paradigms in Strategic Management...... 52
1.3.3 The Wheel of Strategy Framework ................................ 56
1.3.3.1 Strategy Process................................................ 58
1.3.3.2 Structure and Corporate Culture ................................ 59
1.3.3.3 Strategic Leadership............................................ 51
1.3.4 Making Strategic Management Effective........................... 54
1.4 Summary ........................................................ 56
Table of Contents
PARTI:
Developing Strategies: Strategie Analysis, Ideation, and Choice
2 Strategie Analysis ........................................... 71
2.1 Understanding the Initial Strategie Situation................. 71
2.1.1 The Company and Its Stakeholders.............................. 72
2.1.2 Developing a Strategie Analysis Framework..................... 76
2.2 External Strategie Analysis................................... 78
2.2.1 Macroenvironment.............................................. 78
2.2.2 Industry...................................................... 86
2.2.2.1 Defining the Relevant Market ................................. 87
2.2.2.2 Industry Profitability Analysis and Competitive Forces........ 90
2.2.3 Competitive Arena ............................................ 97
2.2.3.1 Markets and Customers ........................................ 97
2.2.3.2 Competitors and Strategic Groups ............................ 104
2.2.3.3 Other External Stakeholders ................................. 112
2.3 Internal Strategic Analysis.................................. 113
2.3.1 Analyzing Resources, Capabilities, and Competencies.......... 114
2.3.1.1 Strengths and Weaknesses Profile............................. 115
2.3.1.2 Value Chain Analysis......................................... 117
2.3.1.3 7-S-Model.................................................... 120
2.3.1.4 Additional methods for internal strategic analysis........... 121
2.3.2 Identifying Core Competencies ............................... 122
2.4 Consolidating Strategic Key Insights......................... 126
2.4.1 SWOT-based Strategic Analysis Summary........................ 126
2.4.2 Portfolio-based Situation Assessment......................... 130
2.4.3 Focal Points for Strategy Formulation ....................... 140
2.5 Summary ..................................................... 142
3 Strategy Formulation............................................. 145
3.1 Strategic Guideposts ............................................ 145
3.1.1 Vision........................................................... 147
3.1.2 Mission.......................................................... 152
3.1.3 Values........................................................... 155
3.2 Corporate Strategy............................................... 158
3.2.1 Corporate Parenting.............................................. 161
3.2.2 Scope of Business................................................ 165
3.2.2.1 General Directional Strategies .................................. 165
3.2.2.2 Diversification Strategies....................................... 167
3.2.2.3 Vertical Integration Strategies.................................. 174
3.3 International Strategy........................................... 178
3.3.1 International Business Expansion................................. 178
3.3.1.1 Whether to Go: Internationalization Motives...................... 178
3.3.1.2 Where to Go: Country Market Selection............................ 181
3*3.1.3 Howto Go: Entry and Go-to-Market Strategy........................ 188
Table of Contents
3.3.2 Transnational Management........................................ 193
3.3.2.1 Strategy Postures in Multinational Corporations................. 193
3.3.2.2 Transnational Strategies........................................ 196
3.4 Business Strategy............................................... 200
3.4.1 Intensive Growth Strategies..................................... 201
3.4.1.1 Market Penetration.............................................. 202
3.4.1.2 Product Development............................................. 202
3.4.1.3 Market Development ............................................. 204
3.4.2 Generic Competitive Strategies ................................. 205
3.4.2.1 Best Product.................................................... 207
3.4.2.2 Lock-in......................................................... 213
3.4.2.3 Complete Customer Solution ..................................... 215
3.4.3 Breaking Out of Traditional Competition......................... 217
3.4.3.1 Cooperative Strategies.......................................... 217
3.4.3.2 Blue Ocean Strategies........................................... 219
3.4.4 Business Models................................................. 220
3.4.4.1 Business Model Frameworks....................................... 224
3.4.4.2 Key Building Blocks of a Business Model......................... 227
3.4.4.3 Business Model Innovation ...................................... 232
3.4.4.4 Business Model Patterns ........................................ 236
3.4.4.5 Sustainable Business Models..................................... 244
3.4.4.6 Benefits and Pitfalls for the Business Model Approach........... 249
3.5 Strategy Option Evaluation and Choice........................... 253
3.5.1 Key Criteria for Evaluating Strategy Options.................... 253
3.5.1.1 Plausibility.................................................... 254
3.5.1.2 Consistency .................................................... 255
3.5.1.3 Performance Impact.............................................. 256
3.5.1.4 Business Risk................................................... 260
3.5.1.5 Stakeholder Compatibility....................................... 262
3.5.1.6 Internal Readiness.............................................. 264
3.5.2 Strategic Choice—Selecting Strategy Options .................... 265
3.6 Summary ........................................................ 266
Part II:
Bringing it into Reality: From Strategy to Action and Control
4 Strategy Execution.............................................. 271
4.1 Making Strategies Happen: Barriers and Drivers.................. 271
4.1.1 Barriers to Strategy Execution.................................. 273
4.1.2 Strategy Execution Excellence................................... 275
4.2 Organizational Design .......................................... 280
4.2.1 Culture—How Things are Done Around Here ........................ 281
4.2.1.1 Key Dimensions for Analyzing Organizational Culture............. 285
Table of Contents
4.2.1.2 Integrating Strategy and Culture...............................
4.2.2 Structure—the Managerial Underpinning........................... 294
4.2.2.1 Organizational Structure....................................... ¿99
4.2.2.2 Business Processes.............................................. 306
4.2.2.3 Managerial Systems.............................................. 318
4.2.2.4 Integrating Strategy and Structure.............................. 336
4.3 Strategy Execution System...................................... 343
4.3.1 Developing a Strategy Execution System.......................... 345
4.3.2 Describe Strategy............................................... 353
4.3.2.1 Deriving Strategic Goals........................................ 354
4.3.2.2 Developing a Strategy Map....................................... 366
4.3.2.3 Benefits and Pitfalls of Strategy Mapping ...................... 371
4.3.3 Cascade and Align Strategy ..................................... 376
4.3.3.1 Applying Strategic Themes....................................... 377
4.3.3.2 Identifying Strategy Alignment Needs............................ 380
4.3.3.3 Sequencing Goals, Metrics and Actions........................... 383
4.3.3.4 Setting Cascading Paths......................................... 384
4.3.3.5 Choosing Cascading Methods...................................... 385
4.3.3.6 Aligning Vertically and Horizontally............................ 390
4.3.3.7 Benefits and Pitfalls of Strategy Alignment..................... 390
4.3.4 Make Strategy Measurable........................................ 393
4.3.4.1 Developing a Balanced Scorecard................................. 394
4.3.4.2 Setting Targets................................................. 398
4.3.4.3 Benefits and Pitfalls of Measuring Strategy..................... 401
4.3.5 Plan Strategic Actions ......................................... 404
4.3.5.1 Developing and Prioritizing Strategic Actions................... 404
4.3.5.2 Refining and Aligning Strategic Actions......................... 406
4.3.5.3 Benefits and Pitfalls of Strategic Action Planning.............. 409
4.3.6 Align Organization to Strategy.................................. 410
4.3.6.1 Resources....................................................... 411
4.3.6.2 People.......................................................... 418
4.3.6.3 Management Information ......................................... 429
4.3.6.4 Benefits and Pitfalls of Organizational Alignment............... 437
4.3.7 Execute and Control Strategy.................................... 439
4.3.7.1 Control Execution: Strategic Performance Reviews................ 440
4.3.7.2 Control Assumptions and Observe Environment .................... 448
4.3.7.3 Test and Adapt Strategy......................................... 450
4.3.7.4 Benefits and Pitfalls of Strategic Control...................... 454
4.4 Summary ........................................................ 455
Appendix: Strategy Workout and Review Questions.................. 459
Strategy Workout.............................................................. 459
Kick-off...................................................................... 459
Firm selection................................................................ 459
Table of Contents
Company background............................................................ 460
Brief strategy review......................................................... 460
Stakeholders and strategic analysis framework................................. 460
External strategic analysis................................................... 461
Internal strategic analysis................................................... 461
Consolidation of the initial strategic situation ............................. 462
Strategic guideposts.......................................................... 462
Corporate strategy............................................................ 463
International strategy........................................................ 463
Business strategy............................................................. 464
Strategy option evaluation and choice......................................... 465
Organizational design......................................................... 465
Describe the strategy......................................................... 466
Cascade and align the strategy................................................ 466
Make strategy measurable...................................................... 467
Plan strategic actions........................................................ 467
Align organization to strategy................................................ 468
Execute and control strategy.................................................. 468
Review Questions.......................................................... 469
References ............................................................... 477
Index .................................................................... 503
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| isbn | 9783791032856 |
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| spelling | Wunder, Thomas Verfasser (DE-588)12936777X aut Essentials of strategic management effective formulation and execution of strategy Thomas Wunder Stuttgart Schäffer-Poeschel Verlag 2016 XV, 510 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier Strategisches Management (DE-588)4124261-0 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Strategisches Management (DE-588)4124261-0 s DE-604 Erscheint auch als Online-Ausgabe, EPDF 978-3-7992-6812-7 Digitalisierung UB Bamberg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028016735&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
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| title | Essentials of strategic management effective formulation and execution of strategy |
| title_auth | Essentials of strategic management effective formulation and execution of strategy |
| title_exact_search | Essentials of strategic management effective formulation and execution of strategy |
| title_full | Essentials of strategic management effective formulation and execution of strategy Thomas Wunder |
| title_fullStr | Essentials of strategic management effective formulation and execution of strategy Thomas Wunder |
| title_full_unstemmed | Essentials of strategic management effective formulation and execution of strategy Thomas Wunder |
| title_short | Essentials of strategic management |
| title_sort | essentials of strategic management effective formulation and execution of strategy |
| title_sub | effective formulation and execution of strategy |
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| topic_facet | Strategisches Management Lehrbuch |
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