Designed in functional four-color, this book offers a popular practitioner-oriented perspective, focuses on skill-building in all major areas of strategy formation, implementation, and evaluation, and weaves three very contemporary themes throughout each chapter—globalization, the natural environment, and e-commerce. Forty-one Experiential exercises, and 41 cases are included. Coverage includes developing a mission statement, performing an external audit, conducting an internal assessment, and formulating, implementing, and evaluating strategies, as well as global issues and concerns. For anyone interested in the fields of Strategic Management, Strategy, and Business Policy.
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The global recession and war on terrorism has ushered in a radically different and more complex business world than it was just two years ago, when the previous edition of this text was published. E-commerce has changed the nature of business to its core.
Thousands of strategic alliances and partnerships were formed in 2000 and 2002. Hundreds of companies declared bankruptcy, and interest rates fell to the—lowest level in fifty years. Downsizing, rightsizing, reengineering, and countless divestitures, acquisitions, and liquidations permanently altered the corporate landscape. Thousands of firms globalized, and thousands more merged in the last two years. Thousands prospered, and yet thousands more failed. Many manufacturers became e-commerce suppliers, and many rival firms became partners. Long-held competitive advantages eroded, and new ones formed. Both the challenges and opportunities facing organizations of all sizes today are greater than ever.
Changes made in this ninth edition are aimed squarely at illustrating the effect of this new world order on strategic-management theory and practice. Changes in this edition are substantial. To survive and prosper in the new millennium, organizations must build and sustain a competitive advantage. This new edition provides up-to-date, state-of-the-art coverage of strategic-management concepts and techniques for achieving a competitive advantage.
Our mission in preparing the ninth edition of Strategic Management was "to create the most current, well-written business policy textbook on the market—a book that is exciting and valuable to both students and professors." To achieve this mission, every page has been revamped, updated, and improved. New strategic-management research and practice are incorporated throughout the chapters, and hundreds of new examples abound. There is a new Cohesion Case on American Airlines—2002. Scores of reviewers and I believe American Airlines—2002 you will find this edition to be the best ever—and now the best business policy textbook available for communicating both the excitement and value of strategic management. The text is concise and exceptionally well organized. Now published in six different languages—English, Chinese, Spanish; Arabic, Indonesian, and Japanese—this text is perhaps the most widely used strategic-planning book in the world.Special Note to Professors
This textbook meets all AACSB guidelines for the business policy and strategic management course at both the graduate and undergraduate levels. Previous editions of this text have been used at more than five hundred colleges and universities. Prentice Hall maintains a separate Web site for this text at www.prenhall.com/david. The author maintains the Strategic Management Club Online Web site at www.strategyclub.com. Membership is now free to both professors and students.
Although the structure of this edition parallels the last, dramatic improvements have been made in readability, currentness, and coverage. In keeping with the mission "to become the most current, well-written business policy textbook on the market," every page has undergone rethinking and rewriting to streamline, update, and improve the caliber of presentation. A net result of this activity is that every chapter is shorter in length. New concepts and practices in strategic management are presented in a style that is clear, focused, and relevant.Chapter Themes
Three themes permeate all chapters in this edition and contribute significantly to making this text timely, informative, exciting, and valuable. A new boxed insert for each theme and substantial new narrative appear in each chapter. The three themes follow.1. Global Factors Affect Virtually All Strategic Decisions
The global theme is greatly enhanced in this edition because doing business globally has become a necessity, rather than a luxury, in most industries. Nearly all strategic decisions today are affected by global issues and concerns. There is substantial new global coverage in each chapter due to growing interdependence among countries and companies worldwide. The dynamics of political, economic, and cultural differences across countries directly affect strategic management decisions. Doing business globally is more risky and complex than ever before. The global theme is targeted at illustrating how organizations today can effectively do business in the new millennium.2. E-Commerce Is a Vital Strategic Management Tool
The e-commerce theme is deeply integrated throughout the chapters in response to immense e-commerce opportunities and threats facing organizations today. Almost all products can now be purchased over the Internet. Business-to-business e-commerce is ten times greater even than business-to-consumer e-commerce. The accelerating use of the Internet to gather, analyze, send, and receive information has changed the way strategic decisions are made. Since the last edition, literally millions of companies have established World Wide Web sites and are conducting e-commerce internationally.3. Preserving the Natural Environment Is a Vital Strategic Issue
Unique to strategic-management texts, the natural environment theme is strengthened in this edition in order to promote and encourage firms to conduct operations in an environmentally sound manner. Countries worldwide have enacted laws to curtail firms from polluting streams, rivers, the air, land, and sea. Environmental concerns are a new point of contention in World Trade Organization (WTO) policies and practices. The strategic efforts of both companies and countries to preserve the natural environment are described in this edition. Respect for the natural environment has become an important concern for consumers, companies, society, and the AACSB.Time-Tested Features
This edition continues many of the special time-tested features and content that have made this text so successful over two decades. Trademarks of this text strengthened in this edition are as follows:
This edition continues many of the time-tested features and content that have made this text so successful over the last two decades. Trademarks of this text strengthened in this edition are as follows:
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