Concepts and Techniques for Crafting and Executing Strategy - Summary of Chapters - Scroll Down.
Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases
23rd Edition
By Arthur Thompson and Margaret Peteraf and John Gamble and A. Strickland
ISBN10: 1260735176
ISBN13: 9781260735178
Copyright: 2022
PART 1 Concepts and Techniques for Crafting and Executing Strategy
Chapter 1 What Is Strategy and Why Is It Important?
Chapter 2 Charting a Company’s Direction
Chapter 3 Evaluating a Company’s External Environment
Chapter 4 Evaluating a Company’s Resources, Capabilities, and Competitiveness
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
Chapter 10 Building an Organization Capable of Good Strategy Execution
Chapter 11 Managing Internal Operations
Chapter 12 Corporate Culture and Leadership
PART 2 Cases in Crafting and Executing Strategy
Section A: Crafting Strategy in Single-Business Companies
1 Airbnb in 2020
2 Competition in the Craft Beer Industry in 2020
3 Costco Wholesale in 2020: Mission, Business Model, and Strategy
4 Ford Motor Company: Will the Company’s Strategic Moves Restore its Competitiveness and Financial Performance?
5 Macy’s, Inc.: Will Its Strategy Allow It to Survive in the Changing Retail Sector?
6 TOMS Shoes: Expanding Its Successful One For One Business Model
7 lululemon athletica’s Strategy in 2020: Is the Recent Growth in Retail Stores, Revenues, and Profitability Sustainable?
8 Under Armour’s Strategy in 2020: Can It Revive Sales and
9 Spotify in 2020: Can the Company Remain Competitive?
10 Beyond Meat, Inc.
11 Netflix’s 2020 Strategy for Battling Rivals in the Global Market for Streamed Video Subscribers
12 Twitter Inc. in 2020
13 Yeti in 2020: Can Brand Name and Innovation Keep it Ahead of the Competition?
14 GoPro in 2020: Have its Turnaround Strategies Failed?
15 Publix Super Markets: Its Strategy in the U.S. Supermarket and Grocery Store Industry
16 Tesla’s Strategy in 2020: Can It Deliver Sustained Profitability?
17 Unilever’s Purpose-led Brand Strategy: Can Alan Jope Balance Purpose and Profits?
18 Domino’s Pizza: Business Continuity Strategy during the Covid-19 Pandemic
19 Burbank Housing: Building from the Inside Out
20 Boeing 737 MAX: What Response Strategy is Needed to Ensure Passenger Safety and Restore the Company’s Reputation?
21 The Walt Disney Company: Its Diversification Strategy in 2020
22 Robin Hood
Section B: Crafting Strategy in Diversified Companies
23 Southwest Airlines in 2020: Culture, Values, and Operating Practices
24 Uber Technologies in 2020: Is the Gig Economy Labor Force Working for Uber?
Section C: Implementing and Executing Strategy
25 Starbucks in 2020: Is the Company on Track to Achieve Attractive Growth and Operational Excellence?
26 Nucor Corporation in 2020: Pursuing Efforts to Grow Sales and Market Share Despite Tough Market Conditions
27 Eliminating Modern Slavery from Supply Chains: Can Nestlé Lead the Way?
Crafting & Executing Strategy: Concepts and Cases
22nd Edition
View Latest Edition
By Arthur Thompson and Margaret Peteraf and John Gamble and A. Strickland
ISBN10: 1260075109
ISBN13: 9781260075106
Copyright: 2020
Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases
18 Edition, 2012McGraw Hill
Arthur A. Thompson, Jr., The University of Alabama
Margaret A. Peteraf, Dartmouth College
John E. Gamble, University of South Alabama
A. J. Strickland III, The University of Alabama
Contents
Links are to summaries of the chapters based on various editions.
Review first Strategies, Policies, and Planning Premises - Review Notes - Chapter in Principles of Management Book: Create a link between theory of management practice and strategic management, one area of many in business management.
PART ONE
Concepts and Techniques for Crafting and Executing Strategy - Summary of Chapters
Section A: Introduction and Overview
Chapter 1: What Is Strategy and Why Is It Important?
Chapter 2: Charting a Company’s Direction: Vision and 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: Which One to Employ?
Chapter 6: Strengthening a Company’s Competitive Position: Strategic Moves, Timing, and Scope of Operations
Chapter 7: Strategies for Competing in International Markets
Chapter 8: Corporate Strategy: Diversification and the Multibusiness Company
Chapter 9: Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy
Section D: Executing the Strategy
Whereas crafting strategy is largely a market-driven activity, executing strategy is primarily an operations activity revolving around the management of people and business processes using the facilities of the organization. Hence MBA students and executives needs a good grasp of Marketing Management and Operations Management to succeed as Managers of Strategy.
Chapter 10: Building an Organization Capable of Good Strategy Execution: People, Capabilities, and Structure
Chapter 11: Managing Internal Operations: Actions That Promote Good Strategy Execution
Chapter 12: Corporate Culture and Leadership: Keys to Good Strategy Execution
What Is Strategy and Why Is It Important?
A company's strategy is the game plan management is using to stake out a market position, attract and please customers, conduct its operations, compete successfully, and achieve the desired performance targets.
Company has to identify a product - target marketing combination where it will be able to occupy a durable position for a long time to come. In that position, it should be able to attract the attention of potential customers, bring them to buy and use its products and satisfy their needs through its product-services combination. The customers are expected to repeat their purchases. The company needs operations function which will produce and distribute the product with features and services that the customers value. In the product-target position occupied by a company, competitors may already be there, or new competitors may emerge and try to imitate its products and services. The company must be able develop a competitive advantage that allows to it provide that something extra which will make customers loyal. The company needs a price point at which there is adequate demand and company's capability to produce and distribute the product at a required profit at that price point.
A company achieves a sustainable competitive advantage and remain in business for a long time, when it can meet customer needs more effectively or efficiently than rivals and the basis for this is durable, despite the best efforts of competitors to match or surpass this advantage.
A company is producing goods and service to meet a customer needs. The needs are felt by the customer first and these needs become wants for a specific product and brand.
A company's strategy typically evolves over time, emerging from a blend of (1) proactive and deliberate actions on the part of company managers to improve the strategy and (2) reactive, as-needed adaptive responses to unanticipated developments and fresh market conditions.
A company's business model is management's story line for how the strategy will be a moneymaker. It contains two crucial elements: (1) the customer value proposition —a plan for satisfying customer wants and needs at a price customers will consider good value, and (2) the profit formula —a plan for a cost structure that will enable the company to deliver the customer value proposition profitably. In effect, a company's business model sets forth the economic logic for making money in a particular business, given the company's current strategy.
A winning strategy will pass three tests: (1) Fit (external, internal, and dynamic consistency), (2) Competitive Advantage (durable competitive advantage), and (3) Performance (outstanding financial and market performance).
Crafting and executing strategy are core management functions. How well a company performs and the degree of market success it enjoys are directly attributable to the caliber of its strategy and the proficiency with which the strategy is executed.
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