ELEVENTH EDITION STRATEGY - Airbooks
EXPLORING STRATEGYELEVENTH EDITION‘Exploring Strategy stands out as an excellent textbook on strategic management that covers all the basics yet,unlike other texts, adds onto this a coverage of strategy process and the practice of strategy. This coverage of bothanalytical and managerial aspects of strategy makes it a highly relevant text for both undergraduate and MBAstudents. A welcome inclusion to this edition is the feature “Thinking Differently” which is about cutting-edge theoryrelated to each chapter of the book.’Julia Balogun, Professor of Strategic Management and Director of University of Liverpool Management School‘The book provides a very well-structured, comprehensive, and clear overview of the art of strategic management,using many up-to-date real-world case studies from renowned companies and providing useful online resourcesfor teachers. As such, the book is engaging, accessible and certainly one of the most “classroom ready” texts onstrategy. It is a must-have for students, scholars, and practitioners.’Dr Florian Kapmeier, Professor for Strategy and International Project Management, Reutlingen University, ESB BusinessSchool‘When teaching and learning with this book, strategy comes alive! Exploring Strategy addresses the fascinatingissues of “strategy in action”. As strategic change is everywhere nowadays, this textbook provides unique andinvaluable insights for the men and women who are daily involved in the processes and practice of strategizing.’Linda Rouleau, Professor of Management, HEC MontréalWith over one million copies sold worldwide, Exploring Strategy has long been the essentialintroduction to strategy for the managers of today and tomorrow. From entrepreneurial startups to multinationals, charities to government agencies, this book raises the big questions aboutorganisations – how they prosper, how they grow, how they innovate and how they change. Understand clearly the key concepts and tools of strategic management Explore hot topics, including business models, corporate governance, innovation and entrepreneurshipLearn from case studies on world-famous organisations such as Alibaba, Apple, H&M,Ryanair, Airbnb and Manchester United FCwww.pearson-books.comCVR JOHN5174 11 SE CVRv2.indd 1ELEVENTH EDITIONGERRY JOHNSONRICHARD WHITTINGTONKEVAN SCHOLESDUNCAN ANGWINPATRICK REGNÉRELEVENTHEDITIONJOHNSON WHITTINGTONSCHOLES ANGWIN REGNÉRThe eleventh edition of Exploring Strategy has been comprehensively updated to help you:EXPLORING STRATEGY‘Exploring Strategy has had a world-wide impact as a text in strategic management and unusually has achievedthis notable position with the very best of European scholarship and writing. The approach to strategy is inclusive;the writing is direct and accessible; the case examples are vivid and contemporary; and the material in the book isalways being updated.’Andrew Pettigrew, Emeritus Professor of Strategy and Organisation, Saïd Business School, University of OxfordEXPLORINGSTRATEGY25/11/2016 13:47
WELCOME TOEXPLORING STRATEGYStrategy is a crucial subject. It’s about the development, success and failure of all kinds of organisations,from multinationals to entrepreneurial start-ups, from charities to government agencies, and many more.Strategy raises the big questions about these organisations – how they grow, how they innovate and how theychange. As a manager of today or tomorrow, you will be involved in shaping, implementing or communicating these strategies.Our primary aim with Exploring Strategy is to give you a comprehensive understanding of the issues andtechniques of strategy. We can also help you get a great final result in your course. You can make the mostof the text by: Exploring hot topics in cutting-edge issues such as competition, corporate governance, innovation andentrepreneurship and strategy in practice.Engaging with our new ‘Thinking Differently’ sections to access novel and distinctive perspectives oncore themes in strategy.Using the ‘strategy lenses’ to think critically and originally about key topics and to set you on yourway to better grades in your assignments and exams.Pursuing some of the recommended readings at the end of each chapter. They’re specially selectedas accessible and valuable sources that will enhance your learning and give you an extra edge in yourcourse work.We want Exploring Strategy to give you what you need: a comprehensive view of the subject, an ambition toput that into practice, and – of course – success in your studies. We hope that you’ll be as excited by thekey issues of strategy as we are!So, read on and good luck!Gerry JohnsonRichard WhittingtonKevan ScholesDuncan AngwinPatrick RegnérA01 JOHN5174 11 SE A01.indd 124/11/2016 21:17
Gerry Johnson BA, PhD is Emeritus Professor of Strategic Management at Lancaster University School ofManagement. He has also taught at Strathclyde Business School, Cranfield School of Management, ManchesterBusiness School and Aston University. He is the author of numerous books and his research has been publishedin many of the foremost management research journals in the world. He is also a partner in the consultancypartnership Strategy Explorers (see www.strategyexplorers.com), where he works with senior managementteams on issues of strategy development and strategic change.Richard Whittington MA, MBA, PhD is Professor of Strategic Management at the Saïd Business School and Millman Fellowat New College, University of Oxford. He is author or co-author of nine books and is an Associate Editor of the StrategicManagement Journal. He has had full or visiting positions at the Harvard Business School, HEC Paris, Imperial CollegeLondon, the University of Toulouse and the University of Warwick. He is a partner in Strategy Explorers and active inexecutive education and consulting. His current research focuses on strategy practice and ‘open strategy’.Kevan Scholes MA, PhD, DMS, CIMgt, FRSA is Principal Partner of Scholes Associates – specialising in strategicmanagement. He is also Visiting Professor of Strategic Management and formerly Director of the SheffieldBusiness School, UK. He has extensive experience of teaching strategy to undergraduate and postgraduate students inside and outside the UK, as well as of management development work in private- and public-sectororganisations. He has been an advisor on management development to a number of national bodies and is aCompanion of the Chartered Management Institute.Duncan Angwin MA, MPhil, MBA, PhD is the Sir Roland Smith Professor of Strategic Management and Director ofthe Centre for Strategic Management at Lancaster University. He is author of eight books and many journal articlesand serves on the editorial boards of several journals including Journal of Management Studies. He has taughtstrategy in over 20 countries and is active internationally in executive education and consulting. His currentresearch focuses on mergers and acquisitions, strategy practices and international management.Patrick Regnér BSc, MSc, PhD is Professor of Strategic Management at Stockholm School of Economics. He haspublished in leading journals like the Strategic Management Journal, Journal of International Business, HumanRelations, etc. and serves on the editorial boards of Journal of Management Studies, Organization Studies andStrategic Organization. He has extensive experience of teaching strategy on all levels at several internationalinstitutions. He does executive teaching and consulting with organisations active worldwide and is senior advisorat strategy advisory firm Value Formation. His current research focuses on strategy and institutions.The case collection has been managed by Jason Evans, Clive Kerridge and Steve Pyle.A01 JOHN5174 11 SE A01.indd 224/11/2016 21:17
EXPLORINGSTRATEGYELEVENTH EDITIONGERRY JOHNSONLancaster University Management SchoolRICHARD WHITTINGTONSaïd Business School, University of OxfordKEVAN SCHOLESSheffield Business SchoolDUNCAN ANGWINLancaster University Management SchoolPATRICK REGNÉRStockholm School of EconomicsHarlow, England London New York Boston San Francisco Toronto Sydney Dubai Singapore Hong KongTokyo Seoul Taipei New Delhi Cape Town Sao Paulo Mexico City Madrid Amsterdam Munich Paris MilanA01 JOHN5174 11 SE A01.indd 324/11/2016 21:17
Pearson Education LimitedEdinburgh GateHarlow CM20 2JEUnited KingdomTel: 44 (0)1279 623623Web: www.pearson.com/ukFirst edition (print) published under the Prentice Hall imprint 1984Fifth edition (print) published under the Prentice Hall imprint 1998Sixth edition (print) published under the Financial Times Prentice Hall imprint 2002Seventh edition (print) 2005Eighth edition (print) 2008Ninth edition (print) 2011Tenth edition published (2013) (print and electronic)Eleventh edition published (2017) (print and electronic) Simon & Schuster Europe Limited 1998 (print) Pearson Education 2002, 2011 (print) Pearson Education Limited 2014, 2017 (print and electronic)The rights of Gerry Johnson, Richard Whittington, Kevan Scholes, Duncan Angwin and Patrick Regnér to be identified asauthors of this work have been asserted by them in accordance with the Copyright, Designs and Patents Act 1988.The print publication is protected by copyright. Prior to any prohibited reproduction, storage in a retrieval system,distribution or transmission in any form or by any means, electronic, mechanical, recording or otherwise, permissionshould be obtained from the publisher or, where applicable, a licence permitting restricted copying in the United Kingdomshould be obtained from the Copyright Licensing Agency Ltd, Barnard’s Inn, 86 Fetter Lane, London EC4A 1EN.The ePublication is protected by copyright and must not be copied, reproduced, transferred, distributed, leased, licensedor publicly performed or used in any way except as specifically permitted in writing by the publishers, as allowed underthe terms and conditions under which it was purchased, or as strictly permitted by applicable copyright law. Anyunauthorised distribution or use of this text may be a direct infringement of the authors’ and the publisher’s rights andthose responsible may be liable in law accordingly.All trademarks used herein are the property of their respective owners. The use of any trademark in this text does not vestin the authors or publisher any trademark ownership rights in such trademarks, nor does the use of such trademarks implyany affiliation with or endorsement of this book by such owners.Contains public sector information licensed under the Open Government Licence (OGL) v3.0. ment-licence/version/3/.Pearson Education is not responsible for the content of third-party internet sites.The Financial Times. With a worldwide network of highly respected journalists, The Financial Times provides globalbusiness news, insightful opinion and expert analysis of business, finance and politics. With over 500 journalistsreporting from 50 countries worldwide, our in-depth coverage of international news is objectively reported andanalysed from an independent, global perspective. To find out more, visit www.ft.com/pearsonoffer.Text onlyISBN: 978-1-292-14517-4 (print)978-1-292-19149-2 (PDF)978-1-292-19150-8 (ePub)Text and casesISBN: 978-1-292-14512-9 (print)978-1-292-14513-6 (PDF)978-1-292-14514-3 (ePub)British Library Cataloguing-in-Publication DataA catalogue record for the print edition is available from the British LibraryLibrary of Congress Cataloging-in-Publication DataA catalog record for the print edition is available from the Library of Congress10 9 8 7 6 5 4 3 2 120 19 18 17 16Print edition typeset in 10/12.5pt Sabon MT Pro by SPi GlobalPrinted and bound by L.E.G.O. S.p.A., ItalyNOTE THAT ANY PAGE CROSS REFERENCES REFER TO THE PRINT EDITIONA01 JOHN5174 11 SE A01.indd 424/11/2016 21:17
BRIEF CONTENTSChapter 1 Introducing strategyPART I THE STRATEGIC POSITION29Introduction to Part -environment analysisIndustry and sector analysisResources and capabilitiesStakeholders and governanceHistory and cultureCommentary on Part I The strategy lensesPART II STRATEGIC CHOICES6296132162190205Introduction to Part II206ChapterChapterChapterChapterChapter2087 Business strategy and models8 Corporate strategy and diversification9 International strategy10 Entrepreneurship and innovation11 Mergers, acquisitions and alliancesCommentary on Part II Strategic choicesPART III STRATEGY IN ACTION242276308338368371Introduction to Part 1516Evaluating strategiesStrategy development processesOrganising and strategyLeadership and strategic changeThe practice of strategyCommentary on Part III Strategy in actionA01 JOHN5174 11 SE A01.indd 5241043846849853224/11/2016 21:17
BRIEF CONTENTSGlossaryIndex of namesGeneral indexAcknowledgements535541547557viA01 JOHN5174 11 SE A01.indd 624/11/2016 21:17
CONTENTSIllustrations and Thinking oring Strategy featuresxxviiExploring Strategy onlinexxviii1 INTRODUCING STRATEGY1.1 Introduction1.2 What is strategy?1.2.1 Defining strategy1.2.2 The purpose of strategy: mission, vision, values andobjectives1.2.3 Strategy statements1.2.4 Levels of strategy1.3 The Exploring Strategy Framework1.3.1 Strategic position1.3.2 Strategic choices1.3.3 Strategy in action1.4 Working with strategy1.5 Studying strategy1.6 Exploring strategy further1.6.1 Exploring strategy in different contexts1.6.2 Exploring strategy through different ‘strategy lenses’SummaryWork assignmentsRecommended key readingsReferencesCase example: The rise of a unicorn – AirbnbA01 JOHN5174 11 SE A01.indd 723447810111213141618202021222223232424/11/2016 21:17
CONTENTSPART ITHE STRATEGIC POSITIONIntroduction to Part I302 MACRO-ENVIRONMENT ANALYSIS322.1 Introduction2.2 PESTEL analysis2.2.1 Politics2.2.2 Economics2.2.3 Social2.2.4 Technology2.2.5 Ecological2.2.6 Legal2.2.7 Key drivers for change2.3 Forecasting2.3.1 Forecast approaches2.3.2 Directions of change2.4 Scenario analysisSummaryWork assignmentsRecommended key readingsReferencesCase example: Alibaba – the Yangtze River Crocodile3 INDUSTRY AND SECTOR ANALYSIS3.1 Introduction3.2 The competitive forces3.2.1 Competitive rivalry3.2.2 The threat of entry3.2.3 The threat of substitutes3.2.4 The power of buyers3.2.5 The power of suppliers3.2.6 Complementors and network effects3.2.7 Defining the industry3.2.8 Implications of the Competitive Five Forces3.3 Industry types and dynamics3.3.1 Industry types3.3.2 Industry structure dynamics3.4 Competitors and markets3.4.1 Strategic groups3.4.2 Market segments3.4.3 Critical success factors and ‘Blue Oceans’3.5 Opportunities and 5666668696971737476778181848587viiiA01 JOHN5174 11 SE A01.indd 824/11/2016 21:17
CONTENTSSummaryWork assignmentsRecommended key readingsReferencesCase example: Global forces and the advertising industry88898990924 RESOURCES AND CAPABILITIES964.1 Introduction4.2 Foundations of resources and capabilities4.2.1 Resources and capabilities4.2.2 Threshold and distinctive resources and capabilities4.3 Distinctive resources and capabilities as a basis ofcompetitive advantage4.3.1 V – value of resources and capabilities4.3.2 R – rarity4.3.3 I – inimitability4.3.4 O – organisational support4.3.5 Organisational knowledge as a basis of competitive advantage4.4 Diagnosing resources and capabilities4.4.1 VRIO analysis4.4.2 The value chain and value system4.4.3 Activity systems4.4.4 Benchmarking4.4.5 SWOT4.5 Dynamic capabilitiesSummaryWork assignmentsRecommended key readingsReferencesCase example: Rocket Internet – will the copycat be imitated?5 STAKEHOLDERS AND GOVERNANCE5.1 Introduction5.2 Stakeholders5.2.1 Stakeholder groups5.2.2 Stakeholder mapping5.2.3 Owners5.3 Corporate governance5.3.1 The governance chain5.3.2 Different governance models5.3.3 How boards of directors influence strategy5.4 Social responsibility and ethics5.4.1 Corporate social responsibility5.4.2 The ethics of individuals and 9150150153ixA01 JOHN5174 11 SE A01.indd 924/11/2016 21:17
CONTENTSSummaryWork assignmentsRecommended key readingsReferencesCase example: Drinking Partners – India’s United Breweries Holdings Ltd6 HISTORY AND CULTURE6.1 Introduction6.2 Why is history important?6.2.1 Path dependency6.2.2 History as a resource6.2.3 Historical analysis6.3 What is culture and why is it important?6.3.1 Geographically-based cultures6.3.2 Organisational fields6.3.3 Organisational culture6.3.4 Culture’s influence on strategy6.3.5 Analysing culture: the cultural web6.3.6 Undertaking cultural analysis6.4 Strategic driftSummaryWork assignmentsRecommended key readingsReferencesCase example: Culture clashes at Barclays 74175177180184184185185187Commentary on Part I The strategy lenses190Case example: Nokia’s evolving strategy through the lenses202PART IISTRATEGIC CHOICESIntroduction to Part II2067 BUSINESS STRATEGY AND MODELS2087.1 Introduction7.2 Generic competitive strategies7.2.1 Cost-leadership strategy7.2.2 Differentiation strategy7.2.3 Focus strategy7.2.4 Hybrid strategy7.2.5 The Strategy Clock7.3 Interactive strategies7.3.1 Interactive price and quality strategies209210211215216218220221221xA01 JOHN5174 11 SE A01.indd 1024/11/2016 21:17
CONTENTS7.3.2 Cooperative strategy7.3.3 Game theory7.4 Business models7.4.1 Value creation, configuration and capture7.4.2 Business model patternsSummaryWork assignmentsRecommended key readingsReferencesCase example: The IKEA approach8 CORPORATE STRATEGY AND DIVERSIFICATION8.1 Introduction8.2 Strategy directions8.2.1 Market penetration8.2.2 Product development8.2.3 Market development8.2.4 Conglomerate diversification8.3 Diversification drivers8.4 Diversification and performance8.5 Vertical integration8.5.1 Forward and backward integration8.5.2 To integrate or to outsource?8.6 Value creation and the corporate parent8.6.1 Value-adding and value-destroying activities ofcorporate parents8.6.2 The portfolio manager8.6.3 The synergy manager8.6.4 The parental developer8.7 Portfolio matrices8.7.1 The BCG (or growth/share) matrix8.7.2 The directional policy (GE–McKinsey) matrix8.7.3 The parenting matrixSummaryWork assignmentsRecommended key readingsReferencesCase example: Virgin – is the brand more than Richard Branson?9 INTERNATIONAL STRATEGY9.1 Introduction9.2 Internationalisation drivers9.3 Geographic sources of advantage9.3.1 Locational advantage: Porter’s Diamond9.3.2 The international value system9.4 International 265268268269269271276277278282282284286xiA01 JOHN5174 11 SE A01.indd 1124/11/2016 21:17
CONTENTS9.5 Market selection and entry9.5.1 Country and market characteristics9.5.2 Competitive characteristics9.5.3 Entry modes strategies9.6 Subsidiary roles in an international portfolio9.7 Internationalisation and performanceSummaryWork assignmentsRecommended key readingsReferencesCase example: China goes to Hollywood – Wanda’s moves intothe US movie industry10 ENTREPRENEURSHIP AND INNOVATION10.1 Introduction10.2 Entrepreneurship10.2.1 Opportunity recognition10.2.2 Steps in the entrepreneurial process10.2.3 Stages of entrepreneurial growth10.2.4 Social entrepreneurship10.3 Innovation dilemmas10.3.1 Technology push or market pull10.3.2 Product or process innovation10.3.3 Open or closed innovation10.4 Innovation diffusion10.4.1 The pace of diffusion10.4.2 The diffusion S-curve10.5 Innovators and imitators10.5.1 First-mover advantages and disadvantages10.5.2 The incumbent’s responseSummaryWork assignmentsRecommended key readingsReferencesCase example: Rovio Entertainment – going back to the entrepreneurial roots11 MERGERS, ACQUISITIONS AND ALLIANCES11.1 Introduction11.2 Organic development11.3 Mergers and acquisitions11.3.1 Types of M&A11.3.2 Timing of M&A11.3.3 Motives for M&A11.3.4 M&A processes11.3.5 M&A strategy over time11.4 Strategic 32332335338339340341341342342345350351xiiA01 JOHN5174 11 SE A01.indd 1224/11/2016 21:17
CONTENTS11.4.1 Types of strategic alliance11.4.2 Motives for alliances11.4.3 Strategic alliance processes11.5 Comparing acquisitions, alliances and organic development11.5.1 Buy, ally or DIY?11.5.2 Key success factorsSummaryWork assignmentsRecommended key readingsReferencesCase example: Future-proofing business? Sainsbury acquires ArgosCommentary on Part II Strategic choices353353355359359360362362363363365368PART IIISTRATEGY IN ACTIONIntroduction to Part III37212 EVALUATING STRATEGIES37412.1 Introduction12.2 Organisational performance12.2.1 Performance measures12.2.2 Performance comparisons12.2.3 Gap analysis12.2.4 Complexities of performance analysis12.3 Suitability12.3.1 Ranking12.3.2 Screening through scenarios12.3.3 Screening for bases of competitive advantage12.3.4 Decision trees12.3.5 Life cycle analysis12.4 Acceptability12.4.1 Risk12.4.2 Return12.4.3 Reaction of stakeholders12.5 Feasibility12.5.1 Financial feasibility12.5.2 People and skills12.5.3 Integrating resources12.6 Evaluation criteria: four qualificationsSummaryWork assignmentsRecommended key readingsReferencesCase example: ITV – DIY, buy or 398399399400401401403403404404406xiiiA01 JOHN5174 11 SE A01.indd 1324/11/2016 21:17
CONTENTS13 STRATEGY DEVELOPMENT PROCESSES13.1 Introduction13.2 Deliberate strategy development13.2.1 The role of the strategic leader13.2.2 Strategic planning systems13.2.3 Externally imposed strategy13.3 Emergent strategy development13.3.1 Logical incrementalism13.3.2 Strategy as the outcome of political processes13.3.3 Strategy as the product of structures and systems13.4 Implications for managing strategy development13.4.1 Strategy development in different contexts13.4.2 Managing deliberate and emergent strategySummaryWork assignmentsRecommended key readingsReferencesCase example: Alphabet – who and what drives the strategy?14 ORGANISING AND STRATEGY14.1 Introduction14.2 Structural types14.2.1 The functional structure14.2.2 The divisional structure14.2.3 The matrix structure14.2.4 Multinational/transnational structures14.2.5 Project-based structures14.2.6 Strategy and structure fit14.3 Systems14.3.1 Planning systems14.3.2 Cultural systems14.3.3 Performance targeting systems14.3.4 Market systems14.4 Configurations and adaptability14.4.1 The McKinsey 7-Ss14.4.2 Agility and resilienceSummaryWork assignmentsRecommended key readingsReferencesCase example: One 645845946046246246246346515 LEADERSHIP AND STRATEGIC CHANGE46815.1 Introduction15.2 Leadership and strategic change469470xivA01 JOHN5174 11 SE A01.indd 1424/11/2016 21:17
CONTENTS15.2.1 Strategic leadership roles15.2.2 Leadership styles15.3 Diagnosing the change context15.3.1 The change kaleidoscope15.3.2 Forcefield analysis15.4 Types of strategic change15.4.1 Adaptation15.4.2 Reconstruction15.4.3 Revolution15.4.4 Evolution15.5 Levers for strategic change15.5.1 A compelling case for change15.5.2 Challenging the taken for granted15.5.3 Changing operational processes and routines15.5.4 Symbolic management15.5.5 Power and political systems15.5.6 Timing15.5.7 Visible short-term wins15.6 Problems of formal change programmes15.6.1 Problems in the process15.6.2 What formal programmes forgetSummaryWork assignmentsRecommended key readingsReferencesCase example: Sergio Marchionne – motor of change16 THE PRACTICE OF STRATEGY16.1 Introduction16.2 The strategists16.2.1 Top managers and directors16.2.2 Strategic planners16.2.3 Middle managers16.2.4 Strategy consultants16.2.5 Who to involve in strategy development?16.3 Strategising16.3.1 Strategy analysis16.3.2 Strategic issue-selling16.3.3 Strategic decision-making16.3.4 Communicating the strategy16.4 Strategy methodologies16.4.1 Strategy workshops16.4.2 Strategy projects16.4.3 Hypothesis testing16.4.4 Business cases and strategic plansSummaryWork vA01 JOHN5174 11 SE A01.indd 1524/11/2016 21:17
CONTENTSRecommended key readingsReferencesCase example: Participative strategy process in the city of Vaasa523523525Commentary on Part III Strategy in action532Glossary535Index of names541General index547Acknowledgements557xviA01 JOHN5174 11 SE A01.indd 1624/11/2016 21:17
ILLUSTRATIONS ANDTHINKING .27.37.48.18.28.38.48.59.19.29.39.4Tesla Motors: the future is electric!Strategy statementsStrategistsBP’s PESTELIntelligence Unit 8200 and the small world of Israeli hi-techUber drives into troubleDatatopia?Busted banking barriers?Facebook’s network fearsSteps in an industry analysisConsolidation across the UK charity and public sectorsResources and capabilitiesGroupon and the sincerest form of flatteryAn integrated value system in the Nepalese poultry industrySWOT analysis of PharmcareDynamic capabilities (and rigidities) in mobile telephone companiesFirefox burns outA load of tosh? Toshiba’s accounting scandalVolkswagen’s governance crisisH&M’s sustainability strategyIndian Railways and Empire‘Dream. People. Culture’The Bogleheads and Vanguard Asset ManagementKodak: the decline and fall of a market leaderVanguard’s low-cost strategy comes to EuropeVolvo’s different Indian busesGame theory in practice in the public sectorUber’s ubiquitous business modelBaking change into the communityFrom sat nav to driverless cars‘Out of sight – out of mind’? Outsourcing at Royal Bank of ScotlandEating its own cooking: Berkshire Hathaway’s parentingChipotle: doing things differentlyWalmart: international successes and failuresThe international ‘Joint Effort Enterprise’Nordic Industrial Park: bridging distance across international marketsBase of the pyramid 5290293xviiA01 JOHN5174 11 SE A01.indd 1724/11/2016 21:17
ILLUSTRATIONS AND THINKING rs, teams and external relationshipsNearly billionnairesFrugal sanitary towelsThe disruptive cloudStrategies clash in a contested bidTo deal or not to deal – that’s the multi-billion dollar questionApple’s iPad advantageBharti–Walmart break-upPoor performance?‘Refreshing’ HeinekenA strategic decision tree for a law firmSensitivity analysisUsing break-even analysis to examine strategic optionsSewerage construction projectReal options evaluation for developing premium beers in IndiaThe influence of strategic leadersStrategic planning at SiemensAn incrementalist view of strategic managementA classic case: Honda entering the US motorcycle marketStructural fault: Qwikster’s quick demiseGoogle gets a new name and a new structureCall fire, police and ambulanceRogue banker or rogue bank?Leadership stylesChallenges of change in Indian bankingA forcefield analysis for devolving strategyChange levers in actionWanted: team member for strategy unitThe Barclays JamDinner with the consultantsA tale of two workshopsHypothesis testing at a THINKING DIFFERENTLY BY CHAPTER2345678910111213141516The crowdsourced forecastFrom five forces to oneMicro-foundations of capabilitiesBenefit CorporationsInstitutional logics versus organisational cultureTransient rather than sustainable advantageCorporate strategy is a fool’s errandAn institution-based view of strategyEntrepreneurship: discovery or creation?From acquiring capabilities to acquiring as capabilityMisrepresenting strategic projectsDifferent strategy development stylesBeyond hierarchy?Women as leadersRethinking the role of 1521xviiiA01 JOHN5174 11 SE A01.indd 1824/11/2016 21:17
FIGURES1.11.21.31.4Part Definitions of strategyThree horizons for strategyThe Exploring Strategy FrameworkStrategy’s three branchesStrategic positionLayers of the business environmentAnalysing the macro-environmentThe political environmentEconomic cyclesSociogram of social networks within an organsational fieldTechnology roadmap for graphene technology in electronicsContexts and motives for ecological issuesForecasting under conditions of uncertaintyThe scenario cube: selection matrix for scenario key driversThe scenario processIndustry and sector environments: the key issuesThe Five Forces FrameworkThe value netThe industry life cycleComparative industry structure analysisSome characteristics for identifying strategic groupsStrategic groups in the Indian pharmaceutical industryStrategy canvas for electrical components companiesResources and capabilities: the key issuesVRIOCriteria for the inimitability of resources and capabilitiesThe value chain within an organisationThe value systemActivity systems at Geelmuyden.KieseThe TOWS matrixStakeholders, governance and ethicsStakeholders of a large organisationStakeholder mapping: the power/attention matrixOwnership, management and purposeThe chain of corporate governance: typical reporting structuresThe influence of history and culturePath dependency and 6971011031081101131191331351371401431
‘Exploring Strategy stands out as an excellent textbook on strategic management that covers all the basics yet, unlike other texts, adds onto this a coverage of strategy process and the practice of strategy. This coverage of both analytical and managerial aspects of strategy makes it a high
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Unit-V Generic competitive strategy:- Generic vs. competitive strategy, the five generic competitive strategy, competitive marketing strategy option, offensive vs. defensive strategy, Corporate strategy:- Concept of corporate strategy , offensive strategy, defensive strategy, scope and significance of corporate strategy
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