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Crafting and Executing Strategy Text and Readings

Fourteenth Edition

Arthur A. Thompson, Jr University of Alabama

A. J. Strickland III University of Alabama

John E. Gamble University of South Alabama

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part|Oj|e Concepts and Techniques for Crafting and Executing Strategy Section A: Introduction and Overview

1. What Is Strategy and Why Is It Important? 2

2 . The Managerial Process of Crafting and Executing Strategy 16

Section B: Core Concepts and Analytical Tools

3 . Analyzing a Company's External Environment 44

4 . Analyzing a Company's Resources and Competitive Position 86

Section C: Crafting a Strategy

5 . The Five Generic Competitive Strategies: Which One to Employ? 114

6 . Beyond Competitive Strategy: Other Important Strategy Choices 140

7 . Competing in Foreign Markets 172

8 . Tailoring Strategy to Fit Specific Industry and Company Situations 202

9 . Diversification: Strategies for Managing a Group of Businesses 234

1 0 . Strategy, Ethics, and Social Responsibility 282

Section D: Executing the Strategy

1 1 . Building Resource Strengths and Organizational Capabilities 316

1 2 . Managing Internal Operations: Actions That Promote Better Strategy Execution 344

1 3 . Corporate Culture and Leadership: Keys to Good Strategy Execution 368

partlt^^ Readings in Crafting and Executing Strategy Section A: The Process of Crafting and Executing Strategy

1. Strategy as Balance: From "Either-Or" to "And" 404

2 . Strategy as Improvisational Theater 414

3 . The Balanced Scorecard, Competitive Strategy, and Performance 420

Section B: Crafting Strategy in Single-Business Companies

4 . Strategy from the Inside Out: Building Capability-Creating Organizations 427

5 . The Empire Strikes Back: Counterrevolutionary Strategies for Industry Leaders 440

6 . Mastering Balance: How to Meet and Beat a Stronger Opponent 448

7 . Vertical Integration Is Dead, or Is It? 459

Brief Contents xxix

8 . The Forgotten Strategy 470

9 . The Five Factors of a Strategic Alliance 479

10 . Realizing the Promise of Partnerships 483

Section C: Crafting Strategy in Diversified Companies

1 1 . Growth Outside the Core 489

1 2 . When Acquisitions Go Awry: Pitfalls in Executing Corporate Strategy 497

Section D: Implementing and Executing Strategy

1 3 . The Genius Is in the Implementation 502

14 . Keys to Successful Strategy Execution 509

1 5 . Cashing In on Corporate Competencies 515

1 6 . The Seven Deadly Sins of Outsourcing 527

1 7 . Cultivating a Global Mindset 541

1 8 . Leading by Leveraging Culture 553

Section E: Strategy, Ethics, Social Responsibility, and Corporate Governance

1 9 . Playing by the Rules: Why Ethics Are Profitable 563

2 0 . Does It Pay to Be Good? Social Responsibility and Financial Performance 568

2 1 . Corporate Sustainability: What Is It and WTiere Does It Come From? 575

2 2 . The Shareholders vs. Stakeholders Debate 580

2 3 . What Continues to Be Wrong with Corporate Governance . . . And How to Fix It 587

indexes Organization I-1

Name 1-6

Subject I-11

endnotes