Crafting and Executing Strategy the Quest for Competitive Advantage, Concepts and Cases Thompson

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<p> Crafting and</p> <p>Executing StrategyThe Quest for Competitive AdvantageConcepts and Cases</p> <p>15th Edition</p> <p>Arthur A. Thompson, Jr.University of Alabama</p> <p>A.J. Strickland IIIUniversity of Alabama</p> <p>John E. GambleUniversity of South Alabama</p> <p>copyright page</p> <p>fdd_tx</p> <p>To our families and especially our wives: Hasseline, Kitty, and Debra</p> <p>About the Authorsfaa_tt</p> <p>A P</p> <p>rthur A. Thompson, Jr., is a professor of mass communication and journalism at California State University, Fresno. He earned his masters degree from CSUF and his bachelors degree from what was then known as Fresno State College. In addition to teaching classes in broadcast management, news writing, production, and pop culture, Wilson serves as general manager and faculty adviser for the student-run campus radio station, KFSR-FM. Wilson spent 20 years working in radio broadcasting as a news reporter, news director, program director, and station manger before joining the faculty at CSUF in 1983. He also trained military personnel for work in the Armed Forces Radio and Television Service while assigned to the Department of Defense Information School at Fort Slocum, New York.</p> <p>faa_tx</p> <p>rofessor A. J. Strickland III is professor emeritus of mass communication at the College of the Desert in Palm Desert, California. He holds a doctorate from the University of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and Stanislaus. Prior to his 34-year teaching career, he worked as newspaper and radio journalist and as a public relations consultant. Wilson has held leadership positions in state and natUniversity of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and Stanislaus. Prior to his 34-year teaching career, he worked as newspaper and radio journalist and as a public relations consultant. Wilson has held leadership positions in state and natUniversity of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and Stanislaus. Prior to his 34-year teaching career, he worked as newspaper and radio journalist and as a public relations consultant. Wilson has held leadership positions in state and natUniversity of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and Stanislaus. Prior to his 34-year teaching career, he worked as newspaper and radio journalist and as a public relations consultant. Wilson has held leadership positions in state and national journalism and mass communication organizations, and in 1995 in Washington, DC, he was inducted into the Community College Journalisms Hall of Fame. In addition to his professional career, Wilson has had an active pol natUniversity of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and Stanislaus. Prior to his 34-year teaching career, he worked as newspaper and radio journalist and as a public relations consultant. Wilson has held leadership positions in state and national journalism and mass communication organizations, and in 1995 in Washington, DC, he was inducted into the Community College Journalisms Hall of Fame. In addition to his professional career, Wilson has had an active pol natUniversity of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and Stanislaus. Prior to his 34-year teaching career, he worked as newspaper and radio journalist and as a public relations consultant. Wilson has held leadership positions in state and nationalvii</p> <p>About the Authors</p> <p>vii</p> <p>journalism and mass communication organizations, and in 1995 in Washington, DC, he was inducted into the Community College Journalisms Hall of Fame. In addition to his professional career, Wilson has had an active political Department of Defense Information School at Fort Slocum, New York.</p> <p>J</p> <p>ohn E. Gamble is professor emeritus of mass communication at the College of the Desert in Palm Desert, California. He holds a doctorate from the University of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and Stanislaus. Prior to his 34-year teaching career, he worked as newspaper and radio journalist and as a public relations consultant. Wilson has held leadership positions in state and natUniversity of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and newspaper and radio journalist and as a public relations consultant. Wilson has held leadership positions in state and natUniversity of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and newspaper and radio journalist and as a public relations consultant. Wilson has held leadership positions in state and natUniversity of Southern California and earned his bachelors and masters degrees from California State Universities, Fresno and Stanislaus. Prior to his 34-year teaching career, he worked as newspaper</p> <p>The Preface</p> <p>E</p> <p>ntrepreneurial leadership and commit the enterprise to conducting business in a fashion shrewdly calculated to produce good performance. A strategy provides a roadmap to operate by a prescription for doing business, a game plan for building customer loyalty and winning a sustainable competitive advantage over rivals. The second need is that of molding the independent decisions and actions initiated by departments, managers, and employees across the company into a coordinated, company wide game plan. Absent a strategy, managers have no framework for weaving many different action initiatives into a cohesive whole, no plan for uniting cross-department operations into a team effort. Crafting implementing, and executing strategy are thus core management functions. Am ongoing all the things managers do, nothing affects a companys ultimate success or failure more fundamentally than how well its management team charts th managers have performance problems because of surplus conditions or internal miscues. we need more time: reason nor the bad luck of unforeseeable ev Crafting implementing, and executing strategy are thus core management functions. Am ongoing all the things managers do, nothing affects a companys ultimate success or failure more fundamentally than how well its management team charts th managers have performance problems because of surplus conditions or internal miscues. we need more time: reason nor the bad luck of unforeseeable events excuses mediocre performance year after year. It is the responsibility of a companys management team t that can overcome Crafting implementing, and executing strategy are thus core management functions. Am ongoing all the things managers do, nothing affects a companys ultimate success or failure more fundamentally than how well its management team charts th managers have performance problems because of surplus conditions or internal miscues. we need more time: reason nor the bad luck of unforeseeable events excuses mediocre performance year after year. It is the responsibility of a companys management team t that can overcome Crafting implementing, and executing strategy are thus core management functions. Am ongoing all the things managers do, nothing affects a companys ultimate success or failure more fundamentally than how well its management team charts th managers have performance problems because of surplus conditions or internal miscues. we need more time: reason nor the bad luck of unforeseeable events excuses mediocre performance year after year. It is the responsibility of a companys management team t that can overcome ents excuses mediocre performance year after year. It is the responsibility of a companys management team t that can overcome adversity. Indeed the essence of good strategy strategy making more time: reason nor the bad luck of unforeseeable events excuses mediocre performance year after year. It is the responsibility of a companys management team t that can overcome ents excuses mediocre performance year after year. It is the responsibility of a companys management team t that can overcome adversity. Indeed the essence of good strategy strategy making more time: reason nor the bad luck of unforeseeable events excuses mediocre performance year after year. It is the responsibility of a companys management</p> <p>Preface</p> <p>vii</p> <p>fpr_tt</p> <p>fpr_tx</p> <p>fpr_au</p> <p>Crafting implementing, and executing strategy are thus core management functions. Am ongoing all the things managers do, nothing affects a companys ultimate success or failure more fundamentally than how well its management team charts th managers have performance problems because of surplus conditions or internal miscues. we need more time: reason nor the bad luck of unforeseeable events excuses mediocre performance year after year. It is the responsibility of a companys management team t that can overcome Crafting implementing, and executing strategy are thus core management functions. Am ongoing all the things managers do, nothing affects a companys ultimate success or failure more fundamentally than how well its management team charts th managers have performance problems because of surplus conditions or internal miscues. we need more time: reason nor the bad luck of unforeseeable events excuses mediocre performance year after year. It is the responsibility of a companys management team t that can overcome Crafting implementing, and executing strategy are thus core management functions. Am ongoing all the things managers do, nothing affects a companys ultimate success or failure more fundamentally than how well its management team charts th managers have performance problems because of surplus conditions or internal miscues. we need more time: reason nor the bad luck of unforeseeable events excuses mediocre performance year after year. It is the responsibility of a companys management team t that can overcome Crafting implementing, and executing strategy are thus core management functions. Am ongoing all the things managers do, nothing affects a companys ultimate success or failure more fundamentally than how well its management team charts th managers have performance problems because of surplus conditions or internal miscues. we need more time: reason nor the bad luck of unforeseeable events.</p> <p>Arthur A. Thompson, Jr. A.J. Strickland III</p> <p>Brief ContentsPart One The Concepts and Techniques of Strategic Management01. 02. 03. 04. 05. 06. 07. 08. 09. 10.The Strategic Management Process: An Overview 2 The Three Strategy-Making Tasks: Developing a Strategic Vision, Setting Objectives, and Crafting a Strategy 27 Industry and Competitive Analysis 68 Evaluating Company Resources and Competitive Capabilities 103 Strategy and Competitive Advantage 134 Matching Strategy to a Companys Situation 174 Strategy and Competitive Advantage in Diversified Companies 213 Evaluating the Strategies of Diversified Companies 245 Implementing Strategy: Building Resources Capabilities and Structuring the Organization 268 Implementing Strategy: Budgets, Policies, Best Practices, Support Systems, and Rewards 310</p> <p>Part Two Cases in Strategic ManagementSection A: The Manager as Chief Strategy Maker and Strategy Implementer</p> <p>1. 2.</p> <p>Andrea Jungs Makeover of Avon Products, Inc. C-17 The Solar Feeder C-17</p> <p>Section B: Crafting Strategy in Single Business Companies Section C: The Manager as Chief Strategy Maker and Strategy Implementer</p> <p>3. Andrea Jungs Makeover of Avon Products, Inc. C-17 4. The Solar Feeder C-17 5. Andrea Jungs Makeover of Avon Products, Inc. C-17 6. The Solar Feeder C-17 10. Andrea Jungs Makeover of Avon Products, Inc. C-17 11. The Solar Feeder C-17 12. The Solar Feeder C-17 13. Andrea Jungs Makeover of Avon Products, Inc. C-17 14. The Solar Feeder C-17</p> <p>Brief Contents</p> <p>vii</p> <p>fbt_tt</p> <p>15. 16. 30. 31. 32. 33. 34. 35. 36. 37.</p> <p>The Strategic Management Process: An Overview 2 The Three Strategy-Making Tasks: Developing a Strategic Vision, Setting Objectives, and Crafting a Strategy 27 Industry and Competitive Analysis 68 Evaluating Company Resources and Competitive Capabilities 103 Strategy and Competitive Advantage 134 Matching Strategy to a Companys Situation 174 Strategy and Competitive Advantage in Diversified Companies 213 Evaluating the Strategies of Diversified Companies 245 Implementing Strategy: Building Resources Capabilities and Structuring the Organization 268 Implementing Strategy: Budgets, Policies, Best Practices, Support Systems, and Rewards 310</p> <p>fbt_tx</p> <p>IndexesName I-1 Organization I-5 Subject I-11</p> <p>x</p> <p>Table of ContentsPart One The Concepts and Techniques of Strategic Management 11. What is Strategy and Why Is It Important? 2The Five Tasks of Strategic Management 3Developing a Strategic Cision and Business Mission 4 Setting Objectives 5 Crafting a Strategy 7 What Does a Companys Strategy Consist Of? 10 Implementing and Executing the Strategy 15 Evaluating Performacne, Monitoring New Development, and Initiating Corrective Adjustments 16</p> <p>fto_tt</p> <p>fto_tx</p> <p>Who Performs the Five Tasks of Strategic Management? 18Is Strategy Making an Individual Responsibility or a Group Task? 20 Is There a Role for Full-Time Strategic PLanners? 21 The Strategic Role of the Board of Directores 22</p> <p>The Benefits of a Strategic Approach to Managing 23</p> <p>Illustration Capsules1. Examples of Company Mission and Vision Statements 6 02. Strategic and Financial Objectives of Well-Known Corporations 8 03. A Strategy Example: McDonalds 12</p> <p>2. The Three Strategy-Making Tasks:Developing a Strategic Vision, Setting Objectives, and Crafting a Strategy 27Developing a Strategic Vision and Mission: The First Direction-Setting Task 27Why Have a Mission or Strategic Vision? 28 Defining a Companys Present Business 29 What Kinds of Objectives to Set 36 TheConcept of Strategic Intent 39 The Need for Long-Range and Short-Range Objective 40 How Much Stretch Should Objectives Entail? 40 Objectives Are Needed at All Organizational Levels 41</p> <p>Crafting a Strategy: The Third Direction-Setting Task 42The Strategy-Making Pyramid 44 The Strategy-Making Pyramid 44 Corporate Strategy 44</p> <p>Table of Contents</p> <p>vii</p> <p>3. What is Strategy and Why Is It Important? 2The Five Tasks of Strategic Management 3Developing a Strategic Cision and Business Mission 4 Setting Objectives 5 Crafting a Strategy 7 What Does a Companys Strategy Consist Of? 10 Implementing and Executing the Strategy 15 Evaluating Performacne, Monitoring New Development, and Initiating Corrective Adjustments 16 Why Strategic Management Is a Process Not an Event 16 Characteristics of the Process 17</p> <p>Who Performs the Five Tasks of Strategic Management? 18Is Strategy Making an Individual Responsibility or a Group Task? 20 Is There a Role for Full-Time Strategic PLanners? 21 T...</p>

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