daftar isi fred r david 12th edition

8/3/2019 Daftar Isi Fred R David 12th Edition

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Strategic Management® CONCEPTS AND CASES

Fred R. DavidFRANCIS MARION UNIVERSITY

FLORENCE, SOUTH CAROLINA

PEARSON

PrenticeHall

PEARSON EDUCATION INTERNATIONAL



C o n t e n t s

Preface 12

Acknowledgments 22

About the Author 27

Part 1

Overv iew of Strateg ic Management 34

Chapter 1

The Nature of S t r a t e g i c Ma n a g e m e n t 34

W h a t IsS t r a t e g i c M a n a g e m e n t ? 36

Defining Strategic Management 36 • Stages of Strategic

Management 37 • Integrating Intu ition and Analysis 38

D Adapting to Change 39

Key Terms in S t r a t e g i c M a n a g e m e n t 39

Competitive Advantage 39 • Strategists 42 • Vision and Mission

Statements 43 Q External Opportunities and Threats 43

• Internal Strengths and Weaknesses 44 • Long-Term Objectives 44

• Strategies 44 • Annual Objectives 45 O Policies 45

Th e S t r at e g i c- M an a g e m e n t M o d e l 45

B e n e f i t s of S t r a t e g i c M a n a g e m e n t 47

Financial Benefits 48 • Nonfinancial Benefits 48

Why Some F irms Do No S t r a t e g i c P l a n n i n g 49

Pi t fal ls in S t r a t e g i c P l a n n i n g 49

G u i d e l i n e s for E f f e c t i v e S t r a t e g i c M a n a g e m e n t 50

B u s i n e s s E t h i c s a n d S t r a t e g i c M a n a g e m e n t 51

C o m p a r i n g B us in e s s a n d M i l i t a r y S t r a t e g y 54

T h e N a t u r e of G l o b a l C o m p e t i t i o n 55

Advantages and Disadvantages of International Operations 57

COHESION CASE 200 8: WALT DISNEY C OMPAN Y—

2007 62

EXPERIENTIAL EXERCISES 76

Experiential Exercise 1A: Ge tting Familiar With Strategy Terms 76

Experiential Exercise 1B: Developing Codes ofBusiness Ethics 76

Experiential Exercise 1C:The Ethics of Spying on Competitors 77

Experiential Exercise 1D: Strategic Planning for My University 77

Experiential Exercise 1E: Strategic Planning at a Local Company 78

Experiential Exercise 1F: Does My University Recruit in Foreign

Countries? 78

Experiential Exercise 1G: Getting Familiar with SMCO 79

Parti

Strategy Formulation 80

Chapter 2

The Business Vision and Mission 80

W h a t D o W e W a n t to B e c o m e ? 82

W h a t Is Our Business? 83

Vision versus Mission 85 • The Process ofDeveloping Vision and

Mission Statements 85

I m po r t a n c e ( Be n e f i t s ) ofV i s i o n a n d M i s s i o n

S t a t e m e n t s 86

A Resolution ofDivergent Views 86

Character ist ics of a M i s s i o n S t a t e m e n t 88

A Declaration of Attitude 88 D A Customer O rientation 90

• A Declaration ofSocial Policy 90

M is si o n S t a t e m e n t C o m p o n e n t s 93

W r i t i n g a n d E v a l u a t i n g M i s s i o n S t a t e m e n t s 94


Experiential Exercise 2A: E valuating M ission Statements 98

Experiential Exercise 2B: Evaluating W alt Disney's Vision and

Mission Statement 99

Experiential Exercise 2C: Writing a Vision and Mission Statement

for My University 99

Experiential Exercise 2D: Conducting Mission Statement

Research 100

C h a p t e r 3

The External Assessment 102

T h e N a t u r e of a n E x t e rn a l A u d i t 104

Key External Forces 104 • The Process of Performing an

External Aud it 105

T h e I n d u s t ri a l O r g an i z a t i o n ( I/ O ) V i e w 106

Economic Forces 106

Social , Cul tural , Demo graphic, and Environ men tal Forces 108

P o l i t i c a l , G o v e r n m e n t a l , a n d L e ga l Fo r ce s 109

T e c h n o l o g i ca l F o r ce s 112

C o m p e t i t i v e F o r c e s 114

Competitive Intelligence Programs 115 • Cooperation

Among Competitors 117 D Market Commonality

and Resource Sim ilarity 118

C o m p e t i t i v e A n a l ys i s: P o r t e r 's F i v e -F o r ce s M o d e l 118

Rivalry Among C ompeting Firms 120 • Potential Entry ofNew

Competitors 120 • Potential Development of Substitute

Products 120 • Bargaining Power ofSuppliers 121 •

Bargaining Power ofConsumers 121

Sources of E x t e r n a l I n f o r m a t i o n 122

F o r e c a st i n g T o o l s a n d T e c h n i q ue s 122

, Making Assumptions 123

T h e G l o b a l C h a l l e n g e 123

Multinational Corporations 124 • Globalization 125



8 CONTENTS

Industry A nalysis: The External Factor Eva luation (EFE)

Matrix 125

The Com petitive Profile Matrix (CPM) 127


Experiential Exercise 3A: Developing an EFE Matrix for Walt Disney

Company 131

Experiential Exercise 3B:The External Assessment 131

Experiential Exercise 3C: Developing an EFE Matrix for

My University 132

Experiential Exercise 3D: Developing a Com petitive Profile Matrix

for Walt Disney Company 132

Experiential Exercise 3E: Developing a Competitive Profile Matrix

for My University 132

Chapter 4

The In te rnal Assessmen t 134

The Nature of an Internal Au dit 136

Key Internal Forces 136 I I The Process of Performing an Internal

Audit 137

The Resource-Based Vie w (RBV) 138

I n t e g r a t i n g S t r a t e g y a n d C u l t ur e 1 3 9

Domestic versus Foreign Cultures 141

M a n a g e m e n t 1 4 3

Planning 143 B Organizing 145 S3 Motivating 145 B Staffing

146 D Controlling 147 E3 Management Audit Checklist of

Questions 147

M a r k e t i n g 1 4 8Customer Analysis 148 B Selling Products/Services 148

Q Product and Service Planning 149 13 Pricing 149

• Distribution 150 B Marketing Research 150 B Opportunity

Analysis 150 B Marketing Audit Checklist of Questions 151

F i n a n c e / A c c o u n t i n g 1 5 1

Finance/Accounting Functions 151 O Basic Types of F inancial

Ratios 152 B Finance/Accounting Audit Checklist 157

P r o d u c t i o n / O p e r a t i o n s 1 5 8

Production/Operations Audit Checklist 161

R e se a rc h a n d D e v e l o p m e n t 1 6 1

Internal and External R&D 161 B Research and DevelopmentAudit 162

M a n a g e m e n t I n f o r m a t io n S ys te m s 1 6 2

Strategic-Planning Software 163 B Management Information

Systems Audit 163

Value Chain Analysis (VCA) 164

Benchmarking 166

The Int ern al Factor Evaluat ion ( IFE) Mat r ix 166

EXPERIENTIAL EXERCISES 17 2

Experiential Exercise 4A: Performing a F inancial Ratio Analysis

for Wa lt Disney Company 172

Experiential Exercise 4B: Constructing an IFE Matrix

for Wa lt Disney Company 173

Experiential Exercise 4C: Constructing an IFE Matrix for

My U niversity 173

Chapter 5

Strategies in Act ion 174

Long-Term Objec tives 176

The Nature of Long-Term Objectives 176 D Financial versus

Strategic Objectives 177 O Not Managing by Objectives 177

T h e B a l a n c e d S c o r e c a r d 1 7 8Types of Strateg ies 178

B Levels of Strategies 180

I n t e g r a t i o n S t ra t e g i e s 1 8 0

Forward Integration 181 O Backward Integration 182

B Horizontal Integration 182

I n t e n s i v e S t r a t e g i e s 1 8 3

Market Penetration 183 BJ Market Development 183

B Product Development 184

D i v e r s i f i ca t i o n St r a t e g i e s 1 8 4

Related Diversification 185 B Unrelated Diversification 187

D e f e n s i v e S t r a t e g i e s 1 8 9

Retrenchment 189 B Divestiture 190 D Liquidation 192

M i c h a e l P o rt e r 's Fi ve G e n e r i c S t r a t e g i e s 1 9 2

Cost Leadership Strategies (Type 1 and Type 2) 193 B Differentiation

Strategies (Type 3) 194 B Focus Strategies (Type 4 and Type 5) 195

B Strategies for Competing in Turbulent, High-Velocity Markets 196

M e a n s f o r A c h i e v i n g S t r at e g i e s 1 9 7

Joint Venture/Partnering 197 B Merge r/Acquisition 199

B Private-Equity Acqu isitions 200 B First Mover Advantages 203

B Outsourcing 203

S t ra t e gi c M an a g e m e n t in N o n p ro f i t a n d G o v e r n m e n t a l

O r g a n i z a t i o n s 2 0 6

Educational Institutions 206 B Medical Organizations 206

B Governmental Agencies and Departments 207

S t r a t e g i c M a n a g e m e n t i n S m a ll Fi rm s 2 0 7

EXPERIENTIAL EXERCISES 21 3

Experiential Exercise 5A: What Strategies Should Walt Disney

Pursue in 2008-2009 ? 213

Experiential Exercise 5B: Examining Strategy Articles 214

Experiential Exercise 5C: Classifying Some Year 2007 Strategies 214

Experiential Exercise 5D: How Risky Are Various Alternative

Strategies? 215

Experiential Exercise 5E: Developing Alternative Strategies for MyUniversity 215

Experiential Exercise 5F: Lessons in Doing Business Globally 216

Chapter 6

Strategy An alysis and Choice 218

The Nature of S trategy Analysis and Choice 220

The Process of Generating and Selecting Strategies 222

A Comprehensive Strategy-Fo rmulation Framew ork 222

The Inpu t Stage 223

The Matching Stage 223The Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix 224

BThe Strategic Position and Action Evaluation (SPACE) Matrix 226

B Th e Boston Consulting Group (BCG) Matrix 229 B T he Internal-

External (IE) Matrix 233 B The Grand Strategy Matrix 236



CONTENTS

The Decision Stage 238

The Quantitative Strategic Planning Matrix (QSPM) 238

B Positive Features andLimitations of the QSPM 241

Cultural Aspects of Strategy Choice 242

The Politics of Strategy Choice 242

Governance Issues 243


Experiential Exercise 6A: Developing a SWOT Matrix for Walt

Disney 251

Experiential Exercise 6B: Developing a SPACE Matrix for Walt

Disney 251

Experiential Exercise 6C: Developing a BCG. Mat r ix for Wal t

Disney 251

Experiential Exercise 6D: Developing a QSPM forWalt Disney 252

Experiential Exercise 6E: Formulating Individual Strategies 253

Expe riential Exercise 6F: The Mac h Test 253

Experiential Exercise 6G: Developing a BCG Mat r ix for My

University 255

Experiential Exercise 6H:The Role of Boards of Directors 255

Experiential Exercise 61: Locating Companies in a Grand Strategy

Matrix 255

Part 3

Strategy implementation 258

Chapter 7

I m p l e m e n t i n g S t r a t e g i e s : Ma n a g e m e n t

and Operations Issues 258

The Nature of Strategy Implementation 260

Management Perspectives 261

Annual Objectives 262

Policies 264

Resource Allocation 265

Managing Conflict 266

Matching Structure with Strategy 266

The Functional Structure 267 BThe Divisional Structure 268

B T h e Strategic Business Unit (SBU) Structure 270

BThe Matr ix Structure 271

Some Do's and Don'ts in Developing Organizational Charts 272

Restructuring, Reengineering, and E-Engineering 274

Restructuring 275 H Reengineering 276

Linking Performance and Pay to Strategies 276

Managing Resistance to Change 278

Managing the Natural Environment 280

Creating a Strategy-Supportive Culture 282

The Mexican Culture 282 BThe Japanese Culture 283

Production/Operations Concerns When Implementing

Strategies 285

Human Resource Concerns When Implementing

Strategies 286

Employee Stock Ownership Plans (ESOPs) 287

13 Balancing Work Life andHome Life 288 B Benefits of a

• Diverse Wor kforce 289


Experiential Exercise 7A: Revising Walt Disney's Organizational

Chart 294

Experiential Exercise 7B: Do Organizations Really Establish

Objectives? 294

Experiential Exercise 7C: Understanding My University's

Culture 295

Chapter 8

Impleme nt in g Strategies: Market in g,Finance/Accounting, R&D,an d MIS Issues 296

The Nature of Strategy Implementation 298

Marketing Issues 298 S3Market Segmentation 299 B Does the

Internet Make Market Segmentation Easier? 302 O Product

Positioning 302

Finance/Accounting Issues 304

Acquiring Capital to Implement Strategies 305 B Projected

Financial Statements 310 B Projected Financial Statement

Analysis for Mattel, Inc. 312 0 Financial Budgets 315

S3 Evaluating the Wor th of a Business 316 B Deciding W hether

to GoPublic 320

Research and Development (R&D) Issues 320

Management Information Systems (MIS) Issues 322


Experiential Exercise 8A: Developing a Product-Posit ioning Map

for Walt Disney 325

Experiential Exercise 8B: Performing an EPS/EBIT Analy sis for

Walt Disney 325

Experiential Exercise 8C: Preparing Projected Financial Statements

for Walt Disney 326

Experiential Exercise 8D: Determining the Cash Value of

Walt Disney 326

Experiential Exercise 8E: Develop ing a Product-Positioning Map

fo r MyUniversity 326

Experiential Exercise 8F: DoBanks Require Projected Financial

Statements? 327

Part 4

Strategy Evaluation 328

Chapter 9

Strategy Review, Evaluation, and Control 328

The Nature of Strategy Evaluation 330

The Process of Evaluating Strategies 333

A Strategy-Evaluation Framework 333

Reviewing Bases of Strategy 334 B Measuring Organizational

Performance 336 S Taking Corrective Actions 337

The Balanced Scorecard 338

Published Sources of Strategy-Evaluation Information 338

Characteristics of an Effective Evaluation System 339

Contingency Planning 341

Auditing 343

The Environmental Audit 344



10 CONTENTS

T w e n t y - F i r s t - C e n t u r y C h a l l e n g e s in S t r a t e g i c

M a n a g e m e n t 344

The Art or Science Issue 344 B The Visible or Hidden Issue 346

B The Top-Down or Bottom-Up Approach 347


Experiential Exercise 9A: Preparing a Strategy-Evaluation Reportfor Walt Disney 350

Experiential Exercise 9B: Evaluating My University's Strategies 351

Experiential Exercise 9C: Who Prepares an Environmental Audit? 351

Strategic Management Case Analysis 352

Ho w to Prepare and Present a CaseAnalysis 352

W h a t Is a S t r a t e g i c - M a n a g e m e n t C a s e ? 354

G u i d e l i n e s for Pr epar i ng Case Anal yses 354

The Need for Practicality 354 B The Need for Justification 354

B The Need for Realism 354 B The Need for Specificity 355

B The Need for Originality 355 B The Need to Contribute 355

Pr epar i ng a Case for Class Discussion 355

The Case Method versus Lecture Approach 355

B The Cross-Examination 356

P r e p a r i n g a W r i t t e n C as e A n a l y si s 356

The Executive Summary 356 B The Comprehensive W ritten

Analysis 356 B Steps in Preparing aComprehensive Written

Analysis 357

M a k i n g an O r a l P r e s e n t a t i o n 357

Organizing the Presentation 357 B Con trolling Your Voice 358

B Managing Body Language 358 B Speaking from Notes 358

B Constructing Visual Aids 358 B Answering Questions 358

B Tips for Success inCase Analysis 359 B Content Tips 359

O Process Tips 360 B Sample Case Analysis Outline 361

STEPS IN PRESENTING AN ORAL CASE ANALYSIS

Oral Presentation-Step 1: Introduction (2 minutes) 362

Oral Presentation-Step 2: Mission/Vision (4 minutes) 362

Oral Presentation-Step 3 : Internal Assessment (8 minutes) 362

Oral Presentation-Step 4: External Assessment (8 m inutes) 362

Oral Presentation-Step 5: Strategy Formulation (14 minutes) 363

Oral Presentation-Step 6: Strategy Implementation (8 minutes) 363Oral Presentation-Step 7: Strategy Evaluation (2 minutes) 363

Oral Presentation-Step 8: Conclusion (4 minutes) 363

Name Index 364

Subject Index 366

daftar isi fred r david 12th edition

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