SOLUTIONS MANUAL
** All Chapters included
** Discussion Questions
** End-of-Chapter Teaching Notes
** Case Resources
,Table of Contents are given below
1. Strategic Management: Creating Competitive Advantages
2. Analyzing the External Environment of the Firm
3. Assessing the Internal Environment of the Firm
4. Recognizing a Firm’s Intellectual Assets: Moving beyond a Firm’s Tangible
Resources
5. Business-Level Strategy: Creating and Sustaining Competitive Advantages
6. Corporate-Level Strategy: Creating Value through Diversification
7. International Strategy: Creating Value in Global Markets
8. Entrepreneurial Strategy and Competitive Dynamics
9. Strategic Control and Corporate Governance
10. Creating Effective Organizational Designs
11. Strategic Leadership: Creating a Learning Organization and an Ethical
Organization
12. Managing Innovation and Fostering Corporate Entrepreneurship
13. Analyzing Strategic Management Cases
,Chapter 1: Strategic Management: Creating Competitive Advantages
Part 1 Strategic Analysis
Chapter 1
Strategic Management: Creating Competitive Advantages ... 1-2
What Is Strategic Management? ............................................................. 1-5
Defining Strategic Management .....................................................................................1-5
The Four Key Attributes of Strategic Management ....................................................... 1-5
The Strategic Management Process ........................................................ 1-7
.....................................................................................................................
Intended versus Realized Strategies ................................................................................1-7
Strategy Analysis .............................................................................................................1-7
Strategy Formulation ......................................................................................................1-8
Strategy Implementation ................................................................................................. 1-8
The Role of Corporate Governance
and Stakeholder Management ................................................................. 1-9
Alternative Perspectives of Stakeholder Management ....................................................1-11
Social Responsibility and Environmental Sustainability: Moving Beyond the Immediate
Stakeholders .................................................................................................................... 1-12
The Strategic Management Perspective:
An Imperative throughout the Organization ......................................... 1-15
Ensuring Coherence in Strategic Direction ............................................ 1-16
Organizational Vision .....................................................................................................1-17
Mission Statements ..........................................................................................................1-18
Strategic Objectives ........................................................................................................ 1-19
Issue for Debate ......................................................................................... 1-20
Reflecting on Career Implications ........................................................... 1-22
Summary .................................................................................................... 1-24
End-of-Chapter Teaching Notes .............................................................. 1-27
Connect Resources .................................................................................... 1-33
1-1
, Chapter 1: Strategic Management: Creating Competitive Advantages
Chapter 1
Strategic Management:
Creating Competitive Advantages
Summary/Objectives
PowerPoint Slide 2: Learning Objectives
At the heart of strategic management is the question: “How and why do some firms outperform
others?” The challenge to managers is to develop and implement strategies that will provide
competitive advantages that will be sustainable over time. This chapter is divided into five
sections.
1. The first section addresses the broad question: “What is strategic management?”
Here, we define strategic management as “consisting of the analysis, decisions, and
actions an organization undertakes to create and sustain competitive advantages.” We
also address the four key attributes of strategic management: concern with overall
objectives; involvement of multiple stakeholders; incorporation of short- and long-
term perspectives; and recognition of tradeoffs between effectiveness and efficiency.
We also introduce the concept of “ambidextrous behaviors”—the need to combine
alignment and adaptability.
2. The second section discusses the strategic management process. Here, we present the
three processes—analysis, formulation, and implementation—that provide the
framework for the overall organization of the thirteen chapters of the book.
3. The third section focuses on the vital role of corporate governance, which is essential
to ensuring that the actions of a firm’s management are consistent with the goals of its
owners—the shareholders. We also address stakeholder management. It must be
taken into account throughout the strategic management process. Although the
interests of stakeholders may, at times, conflict, we discuss how firms are able to
achieve “symbiosis” among stakeholders wherein various interests are considered
interdependent and can be attained simultaneously. We address the importance of
social responsibility, including environmental sustainability, as well as challenges
associated with making the case for sustainability initiatives.
4. The fourth section addresses today’s greater need for a strategic management
perspective throughout the organization. With the emergence of the knowledge of
economy and globalization, leaders must mobilize people throughout the
organization.
5. The fifth section discusses the need for organizations to attain consistency in their
vision, mission, and strategic objectives. Collectively, they form a hierarchy of goals.
1-2
** All Chapters included
** Discussion Questions
** End-of-Chapter Teaching Notes
** Case Resources
,Table of Contents are given below
1. Strategic Management: Creating Competitive Advantages
2. Analyzing the External Environment of the Firm
3. Assessing the Internal Environment of the Firm
4. Recognizing a Firm’s Intellectual Assets: Moving beyond a Firm’s Tangible
Resources
5. Business-Level Strategy: Creating and Sustaining Competitive Advantages
6. Corporate-Level Strategy: Creating Value through Diversification
7. International Strategy: Creating Value in Global Markets
8. Entrepreneurial Strategy and Competitive Dynamics
9. Strategic Control and Corporate Governance
10. Creating Effective Organizational Designs
11. Strategic Leadership: Creating a Learning Organization and an Ethical
Organization
12. Managing Innovation and Fostering Corporate Entrepreneurship
13. Analyzing Strategic Management Cases
,Chapter 1: Strategic Management: Creating Competitive Advantages
Part 1 Strategic Analysis
Chapter 1
Strategic Management: Creating Competitive Advantages ... 1-2
What Is Strategic Management? ............................................................. 1-5
Defining Strategic Management .....................................................................................1-5
The Four Key Attributes of Strategic Management ....................................................... 1-5
The Strategic Management Process ........................................................ 1-7
.....................................................................................................................
Intended versus Realized Strategies ................................................................................1-7
Strategy Analysis .............................................................................................................1-7
Strategy Formulation ......................................................................................................1-8
Strategy Implementation ................................................................................................. 1-8
The Role of Corporate Governance
and Stakeholder Management ................................................................. 1-9
Alternative Perspectives of Stakeholder Management ....................................................1-11
Social Responsibility and Environmental Sustainability: Moving Beyond the Immediate
Stakeholders .................................................................................................................... 1-12
The Strategic Management Perspective:
An Imperative throughout the Organization ......................................... 1-15
Ensuring Coherence in Strategic Direction ............................................ 1-16
Organizational Vision .....................................................................................................1-17
Mission Statements ..........................................................................................................1-18
Strategic Objectives ........................................................................................................ 1-19
Issue for Debate ......................................................................................... 1-20
Reflecting on Career Implications ........................................................... 1-22
Summary .................................................................................................... 1-24
End-of-Chapter Teaching Notes .............................................................. 1-27
Connect Resources .................................................................................... 1-33
1-1
, Chapter 1: Strategic Management: Creating Competitive Advantages
Chapter 1
Strategic Management:
Creating Competitive Advantages
Summary/Objectives
PowerPoint Slide 2: Learning Objectives
At the heart of strategic management is the question: “How and why do some firms outperform
others?” The challenge to managers is to develop and implement strategies that will provide
competitive advantages that will be sustainable over time. This chapter is divided into five
sections.
1. The first section addresses the broad question: “What is strategic management?”
Here, we define strategic management as “consisting of the analysis, decisions, and
actions an organization undertakes to create and sustain competitive advantages.” We
also address the four key attributes of strategic management: concern with overall
objectives; involvement of multiple stakeholders; incorporation of short- and long-
term perspectives; and recognition of tradeoffs between effectiveness and efficiency.
We also introduce the concept of “ambidextrous behaviors”—the need to combine
alignment and adaptability.
2. The second section discusses the strategic management process. Here, we present the
three processes—analysis, formulation, and implementation—that provide the
framework for the overall organization of the thirteen chapters of the book.
3. The third section focuses on the vital role of corporate governance, which is essential
to ensuring that the actions of a firm’s management are consistent with the goals of its
owners—the shareholders. We also address stakeholder management. It must be
taken into account throughout the strategic management process. Although the
interests of stakeholders may, at times, conflict, we discuss how firms are able to
achieve “symbiosis” among stakeholders wherein various interests are considered
interdependent and can be attained simultaneously. We address the importance of
social responsibility, including environmental sustainability, as well as challenges
associated with making the case for sustainability initiatives.
4. The fourth section addresses today’s greater need for a strategic management
perspective throughout the organization. With the emergence of the knowledge of
economy and globalization, leaders must mobilize people throughout the
organization.
5. The fifth section discusses the need for organizations to attain consistency in their
vision, mission, and strategic objectives. Collectively, they form a hierarchy of goals.
1-2
