Management Stategic
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twelfth edition
Strategic Management
® CONCEPTS AND CASES
Fred R. David
FRANCIS MARION UNIVERSITY FLORENCE, SOUTH CAROLINA
PEARSON
Prentice Hall
PEARSON EDUCATION INTERNATIONAL
Contents
Preface 12 Acknowledgments 22 About the Author 27 Part 1 Overview of Strategic Management 34
Chapter 1 The Nature of Strategic Management 34
What Is Strategic Management? 36 Defining Strategic Management 36 • Stages of Strategic Management 37 • Integrating Intuition and Analysis 38 D Adapting to Change 39 Key Terms in Strategic Management 39 Competitive Advantage 39 • Strategists 42 • Vision and Mission Statements 43 Q External Opportunities and Threats 43 • Internal Strengths and Weaknesses 44 • Long-Term Objectives 44 • Strategies 44 • Annual Objectives 45 O Policies 45 The Strategic-Management Model 45 Benefits of Strategic Management 47 Financial Benefits 48 • Nonfinancial Benefits 48 Why Some Firms Do No Strategic Planning 49 Pitfalls in Strategic Planning 49 Guidelines for Effective Strategic Management 50 Business Ethics and Strategic Management 51 Comparing Business and Military Strategy 54 The Nature of Global Competition 55 Advantages and Disadvantages of International Operations 57 COHESION CASE 2008: WALT DISNEY COMPANY— 2007 62 EXPERIENTIAL EXERCISES 76 Experiential Exercise 1A: Getting Familiar With Strategy Terms 76 Experiential Exercise 1B: Developing Codes of Business Ethics 76 Experiential Exercise 1C:The Ethics of Spying on Competitors 77 Experiential Exercise 1D: Strategic Planning for My University 77 Experiential Exercise 1E: Strategic Planning at a Local Company 78 Experiential Exercise 1F: Does My University Recruit in Foreign Countries? 78 Experiential Exercise 1G: Getting Familiar with SMCO 79
What Do We Want to Become? 82 What Is Our Business? 83 Vision versus Mission 85 • The Process of Developing Vision and Mission Statements 85 Importance (Benefits) of Vision and Mission Statements 86 A Resolution of Divergent Views 86...
Strategic Management
® CONCEPTS AND CASES
Fred R. David
FRANCIS MARION UNIVERSITY FLORENCE, SOUTH CAROLINA
PEARSON
Prentice Hall
PEARSON EDUCATION INTERNATIONAL
Contents
Preface 12 Acknowledgments 22 About the Author 27 Part 1 Overview of Strategic Management 34
Chapter 1 The Nature of Strategic Management 34
What Is Strategic Management? 36 Defining Strategic Management 36 • Stages of Strategic Management 37 • Integrating Intuition and Analysis 38 D Adapting to Change 39 Key Terms in Strategic Management 39 Competitive Advantage 39 • Strategists 42 • Vision and Mission Statements 43 Q External Opportunities and Threats 43 • Internal Strengths and Weaknesses 44 • Long-Term Objectives 44 • Strategies 44 • Annual Objectives 45 O Policies 45 The Strategic-Management Model 45 Benefits of Strategic Management 47 Financial Benefits 48 • Nonfinancial Benefits 48 Why Some Firms Do No Strategic Planning 49 Pitfalls in Strategic Planning 49 Guidelines for Effective Strategic Management 50 Business Ethics and Strategic Management 51 Comparing Business and Military Strategy 54 The Nature of Global Competition 55 Advantages and Disadvantages of International Operations 57 COHESION CASE 2008: WALT DISNEY COMPANY— 2007 62 EXPERIENTIAL EXERCISES 76 Experiential Exercise 1A: Getting Familiar With Strategy Terms 76 Experiential Exercise 1B: Developing Codes of Business Ethics 76 Experiential Exercise 1C:The Ethics of Spying on Competitors 77 Experiential Exercise 1D: Strategic Planning for My University 77 Experiential Exercise 1E: Strategic Planning at a Local Company 78 Experiential Exercise 1F: Does My University Recruit in Foreign Countries? 78 Experiential Exercise 1G: Getting Familiar with SMCO 79
What Do We Want to Become? 82 What Is Our Business? 83 Vision versus Mission 85 • The Process of Developing Vision and Mission Statements 85 Importance (Benefits) of Vision and Mission Statements 86 A Resolution of Divergent Views 86...