Crafting and Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases, 19th Edition
Arthur Thompson | Margaret Peteraf | John Gamble | A. J. Strickland III
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BUSINESS MANAGEMENT Level: B/I/A
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The distinguishing mark of the 19th edition is its enriched and enlivened presentation of the material in each of the 12 chapters, providing an as up-to-date and engrossing discussion of the core concepts and analytical tools as you will find anywhere. There is an accompanying line-up of exciting new cases that bring the content to life and are sure to provoke interesting classroom discussions, deepening students' understanding of the material in the process. While this 19th edition retains the 12-chapter structure of the prior edition, every chapter â*"indeed every paragraph and every line - has been re-examined, refined, and refreshed. New content has been added to keep the material in line with the latest developments in the theory and practice of strategic management. In other areas, coverage has been trimmed to keep the book at a more manageable size. Scores of new examples have been added, along with 16 new Illustration Capsules, to enrich understanding of the content and to provide students with a ringside view of strategy in action. The result is a text that cuts straight to the chase in terms of what students really need to know and gives instructors a leg up on teaching that material effectively. It remains, as always, solidly mainstream and balanced, mirroring both the penetrating insight of academic thought and the pragmatism of real-world strategic management.
Integrated coverage of the two most popular perspectives on Strategic Management positioning theory and resource-based theory. Principles and concepts from both the positioning perspective and the resource-based perspective are prominently and comprehensively integrated into our coverage of crafting both single-business and multi-business strategies. Moreover, in Chapters 3 through 8 it is emphasised repeatedly that a company's strategy must be matched not only to its external market circumstances but also to its internal resources and competitive capabilities.
A stand-alone chapter devoted to this topic, our coverage of business ethics, corporate social responsibility, and environmental sustainability provides goes well beyond that offered by any other leading strategy text.
Our coverage of cooperative strategies and the role that interorganisational activity can play in the pursuit of competitive advantage, is similarly distinguished. The topics of strategic alliances, licensing, joint ventures, and other types of collaborative relationships are featured prominently in a number of chapters and are integrated into other material throughout the text.
Extensive Case and Readings Update: The 30-case lineup in this edition is flush with interesting companies and valuable lessons for students in the art and science of crafting and executing strategy, including: Lululemon Athletica, Under Armor, Panera Bread, and more!
More closely integrated linkage of selected chapter-end Assurance of Learning Exercises to the publisher's Web-based assignment and assessment platform called Connect.
Videos on DVD (ISBN-13: 9780077537067) This edition is supported by a comprehensive video DVD that contains and estimate of 20 clips supporting the case materials, and new to this edition the concepts portion of this text.
Binder Ready Loose-Leaf Text (ISBN-13: 9780077537104) - This full featured text is provided as an option to the price sensitive student. It is a full 4 color text that's three whole punched and made available at a discount to students. To order Connect access card bundle with the loose-leaf, order (ISBN-13: 9780077713393)
Connect® Management (ISBN-13: 9780077537005) is available with Thompson 19e. Connect Management is McGraw-Hill's web-based assignment and assessment platform that connects you and your students to the coursework. Interactive Applications provided for each chapter of the textbook allow instructors to assign application-focused interactive activities, engage students to "do" management, stimulate critical thinking, and reinforce key concepts. Students apply what they've learned and receive immediate feedback. Instructors can customise these activities and monitor student progress. To order Connect in a bundle with the book, order (ISBN-13: 9780077802004) Connect Management includes:
- Interactive Applications provided for each chapter of the textbook allow students to "do" management, stimulate critical thinking, and reinforce key concepts. Students receive immediate feedback and can track their progress in their own report. The following types of Interactive Applications are book-specific and developed specifically for Thompson 19e:
- Case Analysis - presents a short original case to students that they must use to answer multiple-choice questions applying their knowledge of the text's content to the case.
- Comprehension Case - are designed to reinforce comprehension and application of key chapter concepts within the context of a case. Critical-thinking questions that bridge the content from the case to the mastery of chapter concepts are included.
- Solid, mainstream, balanced - The fundamental character that has driven the text's success over the years is evident throughout the 18th. The chapter content continues to be solidly mainstream and balanced, mirroring both the best academic thinking and the pragmatism of real-world strategic management.
- Up-to-date coverage of the continuing march of industries and companies to wider globalization, the growing scope and strategic importance of collaborative alliances, the spread of high-velocity change to more industries and company environments, and how online technology is driving fundamental changes in both strategy and internal operations in companies across the world.
- Extensive End-of-Chapter Exercises - In response to market feedback, more chapter-end exercises (including new Assurance of Learning that are assignable and gradeable by using Connect and Exercises for Simulation Participants) have been included, and exercises are still more varied in format (rather than just internet searches), more detailed, and more closely aligned with chapter content.
- Assurance of Learning Exercises at the end of every chapter will help instructors to measure student comprehension of the chapter content.
- Exercises for Simulation Participants at the end of every chapter tightly connect the topics covered in the chapters to the issues and decisions that students have to wrestle with in managing their simulation company.
- Unparalleled resource package ' The comprehensive package of support materials is a breeze to use, highly effective, and flexible enough to fit most any course design.
- Core Concepts - Margin notes highlighting basic concepts, strategic management principles, and kernels of wisdom help students by reinforcing key points in the text.
- Extensive use of examples and Illustration Capsules, which accurately portray today's business world and link theory to practice.
- Strategy Simulations: The Business Strategy Game & GLO-BUS are Fun, Easy and Effective. Both BSG & GLO-BUS empower students to design a strategy aimed at winning a competitive advantage for their company in head-to-head competition against companies run by their classmates. Students apply textbook and lecture concepts while battling for market share and industry leadership. Both simulations are global in nature and have conceptually-strong Assurance of Learning Reports that can be used to support accreditation by such bodies as the AACSB and ACBSP. For more information, a virtual tour, or to sign up for live demo with the simulation authors, please visit www.mhhe.com/thompsonsims.
- The Business Strategy Game (BSG) is McGraw-Hill Irwin's online strategy simulation modeled around the athletic footwear industry. Students' strategy and decision-making skills are put to the test as they develop business plans and compete against each other for market share. In BSG, production occurs in multiple plants, there are 12 market segments, inventory must be managed at 4 distribution centers, and players work to develop a sales forecast based on their competitive strategy while always keeping their rivals in mind. BSG is a contemporary high-tech strategy simulation students readily identify with and understand. Please visit: www.mhhe.com/thompsonsims to learn more.
- GLO-BUS is McGraw-Hill/Irwin's online strategy simulation modeled around the digital camera industry. Students' strategy- and decision-making skills are put to the test as they develop business plans and compete against each other for market share. GLO-BUS is less complex than McGraw-Hill/Irwin's Business Strategy Game (BSG). In GLO-BUS, production occurs in a single plant, there are 8 market segments, there is no inventory to manage since cameras are built-to-order and shipped, and sales forecasting is simpler. There are also less decision variables, which allow instructors the flexibility to incorporate more cases into the class. GLO-BUS is a contemporary high-tech strategy simulation students readily identify with and understand. Please visit: www.mhhe.com/thompsonsims to learn more.
- Course Cartridge/ Online Learning Center Content (included in the price of the textbook) Organized chapter by chapter, the online content is designed to reinforce and build on the text content. Students can access the Chapter Quizzes (Concept-Tutor), Chapter Key Points, PowerPoint Presentation, Chapter PowerPoint slides, selected video clips and Guide to Case Analysis. These online resources can be delivered multiple waysâ*"professors and students can access them directly through the textbook website at www.mhhe.com/thompson, through PageOut, or within a course management system (i.e. WebCT, Blackboard, D2L, eCollege).
- Tegrity Campus is a service that makes class time available all the time by automatically capturing every lecture in a searchable format for students to review when they study and complete assignments. With a simple one-click start and stop process, you capture all computer screens and corresponding audio. Students can replay any part of any class with easy-to-use browser-based viewing on a PC or Mac. Tegrity Campus is available stand-alone or within Connect.
- Blackboard Partnership â*" McGraw-Hill and Blackboard have teamed up to simplify your life. Now you and your students can access Connect and Create right from within your Blackboard course â*" all with one single sign-on. The gradebooks are seamless, so when a student completes an integrated Connect assignment, the grade for that assignment automatically (and instantly) feeds your Blackboard grade center. Learn more at www.domorenow.com.
- MHCampusâ*˘: McGraw-Hill Campusâ*˘ is a new one-stop teaching and learning experience available to users of any learning management system. This institutional service allows faculty and students to enjoy single sign-on (SSO) access to all McGraw-Hill Higher Education materials, including the award winning McGraw-Hill Connect platform, from directly within the institutionâ*s website. McGraw-Hill Campusâ*˘ provides faculty with instant access to all McGraw-Hill Higher Education teaching materials (e.g. eTextbooks, test banks, PowerPoint slides, animations and learning objects, etc), allowing them to browse, Search, and use any instructor ancillary content in our vast library at no additional cost to instructor or students. Students enjoy SSO access to a variety of free (e.g. quizzes, flash cards, narrated presentationsâ*¦etc.) and subscription based products (e.g. McGraw-Hill Connect). With this program enabled, faculty and students will never need to create another account to access McGraw-Hill products and services. Learn more at www.mhcampus.com.
- CREATE, our Custom Textbook Option Craft your teaching resources to match the way you teach! With McGraw-Hill Create, www.mcgrawhillcreate.com, you can easily rearrange chapters, combine material from other content sources, and quickly upload content you have written like your course syllabus or teaching notes. Find the content you need in Create by searching through thousands of leading McGraw-Hill textbooks. Arrange your book to fit your teaching style. Create even allows you to personalize your bookâ*s appearance by selecting the cover and adding your name, school, and course information. Order a Create book and youâ*ll receive a complimentary print review copy in 3â*"5 business days or a complimentary electronic review copy (eComp) via email in about one hour. Go to www.mcgrawhillcreate.com today and register. Experience how McGraw-Hill Create empowers you to teach your students your way.
- Assurance of Learning Ready
- Many educational institutions today are focused on the notion of assurance of learning, an important element of some accreditation standards. Management is designed specifically to support your assurance of learning initiatives with a simple, yet powerful solution. Each test bank question for Management maps to a specific chapter learning outcome/objective listed in the text. You can use our test bank software, EZ Test and EZ Test Online, or in Connect Management to easily query for learning outcomes/objectives that directly relate to the learning objectives for your course. You can then use the reporting features of EZ Test to aggregate student results in similar fashion, making the collection and presentation of assurance of learning data simple and easy.
- AACSB Statement The McGraw-Hill Companies is a proud corporate member of AACSB International. Understanding the importance and value of AACSB accreditation, this text recognizes the curricula guidelines detailed in the AACSB standards for business accreditation by connecting selected questions in the test bank to the six general knowledge and skill guidelines in the AACSB standards.
- The statements contained in this text are provided only as a guide for the users of this textbook. The AACSB leaves content coverage and assessment within the purview of individual schools, the mission of the school, and the faculty. While Management and the teaching package make no claim of any specific AACSB qualification or evaluation, we have within Management, labeled selected questions according to the six general knowledge and skills areas.
Table of Contents
Part One: Concepts and Techniques for Crafting and Executing Strategy
Section A: Introduction and Overview
Chapter 1: What Is Strategy and Why Is It Important?
Chapter 2: Charting a Company's Direction: Its Vision, Mission, Objectives, and Strategy
Section B: Core Concepts and Analytical Tools
Chapter 3: Evaluating a Company's External Environment
Chapter 4: Evaluating a Company's Resources, Capabilities, and Competitiveness
Section C: Crafting a Strategy
Chapter 5: The Five Generic Competitive Strategies
Chapter 6: Strengthening a Company's Competitive Position
Chapter 7: Strategies for Competing in International Markets
Chapter 8: Corporate Strategy
Chapter 9: Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy
Section D: Executing the Strategy
Chapter 10: Building an Organisation Capable of Good Strategy Execution
Chapter 11: Managing Internal Operations
Chapter 12: Corporate Culture and Leadership
Part Two: Cases in Crafting and Executing Strategy
Section A: Crafting Strategy in Single-Business Companies
Case 1: Mystic Monk Coffee
Case 2: Costco Wholesale in 2012: Mission, Business Model, and Strategy
Case 3: Harry Lindsol's Textbook decision: An Ebook or a Traditional College Textbook
Case 4: Sift Cupcake and Dessert Bar
Case 5: Under Armour â*" Challenging Nike in Sports Apparel
Case 6: lulumon athletica, Inc.
Case 7: Coach Inc. in 2012: It's Strategy in the â**Accessibleâ** Luxury Goods Market
Case 8: Tiffany's Little Blue Box: Does It Have Any Strategic Significance?
Case 9: Panera Bread Company in 2012 â*" Pursuing Growth in a Weak Economy
Case 10: Chipolte Mexican Grill in 2012: Can It Hit a Second Home Run?
Case 11: Netflix in 2012: Can It Recover from Its Strategy Missteps?
Case 12: Equal Exchange: Trading Fairly and Making a Profit
Case 13: Google's Strategy in 2012
Case 14: Apple Inc. in 2012: Can it Sustain its Growth and Defend against New Competitive Threats?
Case 15: The State Fair of Virginia
Case 16: Eastman Kodak in 2012: Will Its Post-Bankruptcy Strategy Be Successful?
Case 17: Nucor Corporation in 2012: Using Economic Downturns as an Opportunity to Grow Stronger
Case 18: Tata Motors: Can It Become a Global Contender in the Automobile Industry?
Case 19: 7-Eleven in Taiwan: Adaptation of Convenience Stores to New Market Environments
Section B: Crafting Strategy in Diversified Companies
Case 20: The Walt Disney Company: Its Diversification Strategy in 2012
Case 21: Kraft Foods Inc.: Will the Spinoff of Its North American Grocery Business Lead to Increased Shareholder Value?
Section C: Implementing and Executing Strategy
Case 22: Robin Hood
Case 23: Dilemma at Devil's Den
Case 24: Starbucks in 2012: Evolving into a Dynamic Global Organisation
Case 25: Herman Miller Inc. in 2012: An Ongoing Case of Reinvention and Renewal
Case 26: Henkel: Building a Winning Culture
Case 27: Bayonne Packaging, Inc.
Section D: Strategy, Ethics, and Social Responsibility
Case 28: Rhino Sales, Hunting, and Poaching in South Africa
Case 29: The Upper Big Branch Mine Disaster
Case 30: Frog's Leap Winery in 2011 â*" the Sustainability Agenda