Strategic Management : The Challenge of Creating Value book cover
3rd Edition

Strategic Management
The Challenge of Creating Value

ISBN 9781138849242
Published September 7, 2016 by Routledge
518 Pages 102 Color Illustrations

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Book Description

Strategy is often the capstone class in a business education - dealing with the big questions of what companies decide to do - innovate, diversify, acquire or even to employ a range of these strategies.

Benefitting from an international author team, the latest edition of this textbook stands out in its global perspective. With an emphasis on value creation, integration of financial considerations alongside coverage of areas that are often missed in competitor texts, such as financial implications for strategy, corporate governance and business ethics. The book also integrates a wide range of in-depth case studies, including Siemens AG, Intel, the Volkswagen Group, PerkinElmer and the Tata Group.

Supplemented by a wide range of cutting edge online case studies and other internet resources, this text will provide students and their instructors with everything they need to succeed in this tough environment.

Table of Contents

Part I: Strategic Management Concepts 1. Managing Strategically: Strategic management in practice – News Corporation 1.1. Introduction 1.2. What determines firm success? 1.3. The concept of the firm 1.4. Dynamics of change 1.5. Strategic management process model 1.6. Changes affecting strategic management 1.8. Summary 2. Strategy Process and Practice: Strategic management in practice – Intel 2.1. Introduction 2.2. Strategy work 2.3. Strategy workers 2.4. Shaping strategy 2.5. The creation of value for stakeholders 2.6. Tools of strategic analysis 2.7. Business models 2.8. Communication of strategy within and across organizations 2.9. Summary Part II: Strategic Analysis 3. External Analysis: The business environment: Strategic management in practice – GE / Alstom merger 3.1. Introduction 3.2. The remote environment 3.3. The industry environment 3.4. The business unit environment 3.5. Multi-industry competition 3.6. Summary 4. External Analysis: The financial environment: Strategic management in practice – Travelodge 4.1. Introduction 4.2. The Two markets in which firms compete 4.3. Financial markets 4.4. Equity markets 4.5. Debt markets 4.6. Cost of capital and firm valuation 4.7. Risk management and derivatives 4.8. Summary 5. Internal Analysis: Managing capabilities, costs and knowledge: Strategic management in practice – ARM Holdings 5.1. Introduction 5.2. Resources 5.3. Resources and capabilities 5.4. Capabilities and competitive advantage 5.5. Dynamic capabilities 5.6. The value chain 5.7. Cost drivers 5.8. Knowledge and intellectual capital 5.9. Summary Part III: Strategy Development 6. Creating Future Direction: Strategic management in practice – Volkswagen Group 6.1. Introduction 6.2. Vision 6.3. Values 6.4. Mission 6.5. Objectives 6.6. An integrative example 6.7. Summary 7. Business-level Strategy: Strategic management in practice – Tata Group 7.1. Introduction 7.2. The changing product / market environment of the business 7.3. Internal analysis for developing strategy 7.4. Developing business level strategy 7.5. Where to compete 7.6. How to compete 7.7. Business growth 7.8. Summary 8. Corporate-level Strategy: Strategic management in practice – Thomas Cook Group 8.1. Introduction 8.2. Elements of corporate strategy 8.3. Creating future direction 8.4. Style of the centre 8.5. Managing the corporate portfolio 8.6. Diversification 8.7. Financial decisions 8.8. Managing strategic risk 8.9. Summary 9. Managing Innovation and the Dynamic Scope of the Firm: Strategic management in practice – Legrand SA 9.1. Introduction 9.2. Key considerations in innovation 9.3. Managing the dynamic scope of the firm 9.4. Managing the dynamic scope – internal development 9.5. Managing the dynamic scope – mergers and acquisitions 9.6. Managing the dynamic scope – hybrid approaches 9.7. Managing the dynamic scope – divestments, spin-offs and restructuring 9.8. Summary Part IV: Strategy Implementation 10. Leading Organizational Change: Strategic management in practice – Whitbread 10.1. Introduction 10.2. Characteristics of organisational change 10.3. The change process 10.4. Leadership 10.5. Summary 11. Designing Organizational Architecture: Strategic management in practice – PerkinElmer 11.1. Introduction 11.2. Structure 11.3. Processes and process management 11.4. Human resources 11.5. Summary Part V: Assessing Strategic Performance 12. Measuring Organizational Performance: Strategic management in practice – Global automobile industry 12.1. Introduction 12.2. Performance measures 12.3. Developing a performance measurement system 12.4. Measuring business level performance 12.5. Corporate performance measures 12.6. Summary 13. Corporate Governance and Social Responsibility: Strategic management in practice – Siemens AG 13.1. Introduction 13.2. The modern corporation 13.3. The governance model 13.4. Shareholders and boards 13.5. Management and boards 13.6. The role of directors and the board 13.7. Board operations 13.8. Global governance approaches 13.9. Corporate social responsibility 13.10. Summary

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The late Peter Fitzroy was Emeritus Professor of Strategy at Monash University, Australia.

James M. Hubert is R.C. Kopf Professor of International Marketing at Columbia University, USA.

Timothy O'Shannassy is Senior Lecturer at RMIT University, Australia.


'FitzRoy, Hulbert & O’Shannassy have updated their superb book, reflecting the latest scholarly insights and practical wisdom about strategy. This extremely readable and engaging book is loaded with examples from a wide array of industries and regions. Read this book if you want to become a more thoughtful and successful strategist.' - Donald C. Hambrick, The Pennsylvania State University, USA

"When the bird and the book disagree, believe the bird."

However, strategy is about action; it is about getting birds to fly, rather than simply observing them. Too often strategy texts are written by taxidermists rather than strategists. This book is not – use it.' - Pierre Berthon, Clifford F. Youse Chair of Information Design, Bentley University, USA

'Strategic Management captures the excitement of strategy-making as well as the complexities of getting the implementation right. The companies that they profile are highly-visible, multinational and play critical roles in their respective environments and the executives have stimulating jobs with tremendous impacts on society. The result is a heady mixture of necessary information and sanguine forecasts of the challenges ahead that will perpetuate students' obsession with a desire to partake in strategic management while satisfying the diverse stakeholders of the enterprise.' - Kathryn Rudie Harrigan, Professor, Columbia University, USA