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Strategic Management,1/e

Book Description

Key Features: • An innovative six 'I' theoretical framework for strategy has been introduced • A leader or an aspiring leader can get an insight into what is strategy through a quick reading of the material on the side columns • The book focuses on imagination with intention as a conditional precedent for durability of success • Strategy Live: Real examples of crafting and implementing strategy Strategy Stars: The academicians and practitioners who have illuminated strategy • Strategy Show: Introducing ideas-at-work in very chapter, with featuring real business organizations • Strategy Practice: A brief business case at the end of every chapter illustrating a concept • Projects, exercises, questions, models, learning capsules and full-length cases to add to the learning experience. • Inspiring quotes across chapters to trigger the imaginative process Introduction of New Topics: Strategy for Special Situations and Institutions, Strategy for Family Business, Organizational Effectiveness Evaluation, Embedding Environmental and Social Consideration in Strategy have also been added.

Table of Contents

  1. Cover
  2. Title Page
  3. Brief Contents
  4. Contents
  5. About the Author
  6. Preface
  7. Dedication
  8. 1. Introduction to Business Policy and Strategic Management
    1. Strategy Show: Mindtree—Right Things the Right Way
    2. 1.1. Evolution of Strategic Management as a Discipline
    3. 1.2. Concepts of Strategy and Business Policy
    4. 1.3. Meaning and Nature of Strategic Management
    5. 1.4. Importance and Relevance of Strategy
    6. 1.5. Characteristics of Strategic Management and Strategy Absence
    7. 1.6. Role of the Strategist-Strategic Management Professionals
    8. 1.7. Conceptual Framework of Strategic Management
    9. 1.8. Some Theories Used in Strategic Management
    10. 1.9. Tools and Techniques in Strategic Management
    11. 1.10. Forerunners of Strategy in Business Management
    12. Summary
    13. Questions for Discussion
    14. Exercises for Understanding
    15. Project for Insights
    16. Strategy Practice: Game Plan of Britannia
  9. 2. Analysis of Business Environment
    1. Strategy Show: Shemaroo Rises with Technological Changes
    2. 2.1. Analysing External Business Environment
    3. 2.2. Levels of Analysis: PESTELD Framework and ETOP Analysis
    4. 2.3. Environmental Scanning and Appraisal—Strategic Intelligence
    5. 2.4. Competitive Environmental Analysis: Industry and Competition
    6. 2.5. Porter’s Five-Forces Model
    7. 2.6. Competitive Profile Matrix
    8. 2.7. Strategies for Competing in Globalizing Markets: Impact of Globalization, MNCs
    9. 2.8. Internet Economy, E-Commerce, and Social Networking Sites
    10. 2.9. Changing Strategic Situations, Complexity, Turbulence, and Chaos: Institutional Strategy
    11. 2.10. Industry Driving Forces
    12. Summary
    13. Questions for Discussion
    14. Exercises for Understanding
    15. Project for Insights
    16. Strategy Practice: ITC: Value from Environmental Stewardship
  10. 3. Internal Analysis
    1. Strategy Show: TTK: Amassing Resources and Enhancing Value of Prestige
    2. 3.1. Organizational Appraisal: Firms As Value Creators
    3. 3.2. Value Chain Analysis and Value Creation
    4. 3.3. Elements of Value Proposition: Analysing a Company’s Resources and Competitive Position
    5. 3.4. Dimensions of Value
    6. 3.5. Value Hierarchy, Value Shop, and Value Network
    7. 3.6. Assessing Market Value of a Business
    8. 3.7. Resource-Based View (RBV) of the Firm
    9. 3.8. Knowledge- and Capability-Based View (KBV)
    10. 3.9. Concept of Core Competence
    11. 3.10. Distinctive and Unique Competencies
    12. 3.11. Dynamic Capabilities
    13. Summary
    14. Questions for Discussion
    15. Exercises for Understanding
    16. Project for Insights
    17. Strategy Practice: Mawana Sugars Struggling to Survive
  11. 4. Mission, Vision, Strategic Objectives, and Business Model
    1. Strategy Show: Mundra Port and SEZ Pvt Ltd—Aiming High and Achieving
    2. 4.1. Firm and Strategy
    3. 4.2. Elements of a Firm’s Strategy
    4. 4.3. Objectives and Functions of a Strategy
    5. 4.4. Developing Strategic Vision and Strategic Objectives
    6. 4.5. Levels of Objectives
    7. 4.6. Organizational Mission and Mission Statements
    8. 4.7. Stakeholders Expectations, Cooperation, and Ambition
    9. 4.8. Alignment of a Firm With Community
    10. 4.9. Elements of a Business Model and Its Relationship with Strategy
    11. 4.10. Real and Virtual Organizations
    12. Summary
    13. Questions for Discussion
    14. Exercises for Understanding
    15. Project for Insights
    16. Strategy Practice: Shriram Transport Finance Company—Adamant about Funding
  12. 5. Strategy Formulation
    1. Strategy Show: GMR–Strategy of Overstretching, Burdening Itself
    2. 5.1. Organizational Appraisal and Strategic Planning Process
    3. 5.2. Strategic Planning
    4. 5.3. Strategic Thinking
    5. 5.4. Scenario Planning or Building, Strategic Direction
    6. 5.5. Generic Competitive Strategies
    7. 5.6. Strategy Levels
    8. 5.7. First Mover Advantages
    9. 5.8. Strategic Analysis, Strategic Options, Strategy Choice
    10. 5.9. Norms of Strategy Making
    11. 5.10. Offensive Strategies and Defensive Strategies
    12. 5.11. Benchmarking and Industry Standards
    13. 5.12. Resource-Led Strategies
    14. 5.13. Strategic Advantage Analysis
    15. 5.14. Open Strategy
    16. Summary
    17. Questions for Discussion
    18. Exercises for Understanding
    19. Project for Insights
    20. Strategy Practice: Micromax—Strategy Attuned to the Market
  13. 6. Corporate Level Strategies
    1. Strategy Show: ‘Mahindra—from Rural Roads to Main Roads’
    2. 6.1. Strategies and Competitive Advantages in Diversified Companies and their Evaluation
    3. 6.2. Diversification and Integration Strategies
    4. 6.3. Mergers, Acquisitions, and Takeover Strategies
    5. 6.4. Strategic Alliances
    6. 6.5. Joint Venture’s Strategies
    7. 6.6. International Business Entry Level Strategies
    8. 6.7. Strategic Sale or Divesting SBU
    9. 6.8. Political Strategies for Competitive Advantage
    10. 6.9. Reverse Logistics as Sustainable Competitive Advantage
    11. 6.10. Outsourcing Strategies: Make vs Buy
    12. 6.11. Franchising Strategies
    13. 6.12. Portfolio Analysis
    14. Summary
    15. Questions for Discussion
    16. Exercises for Understanding
    17. Project for Insights
    18. Strategy Practice: Marico ‘Separates Feminine Part’
  14. 7. Business Level and Functional Strategies
    1. Strategy Show: Reliance Industries—Sharpening the Performance Engine
    2. 7.1. Strategic Management in a Strategic Business Unit
    3. 7.2. Stability Strategies
    4. 7.3. Growth—Horizontal and Vertical
    5. 7.4. Divestment
    6. 7.5. Human Resource Strategies
    7. 7.6. Finance and Accounting Strategies
    8. 7.7. Marketing and Distribution Strategies
    9. 7.8. Production and Operations Management Strategies and Tactics
    10. 7.9. R&D Strategy or Innovation Strategy Creating Value Changing Processes
    11. 7.10. Learning Organization
    12. Summary
    13. Questions for Discussion
    14. Exercises for Understanding
    15. Project for Insights
    16. Strategy Practice: Century Plywoods: Technical Connect to Emotional Connect
  15. 8. Embedding Environmental and Social Considerations in Strategy
    1. Strategy Show: Star Jalsha TV Channel Assumes Environmental Leadership
    2. 8.1. Practices for Sustainability of Businesses and Benefits Thereof
    3. 8.2. Environmental Risk Management
    4. 8.3. Environmental Communication
    5. 8.4. Green Strategy
    6. 8.5. Greening the Value Chain and Lifecycle Assessment
    7. 8.6. Environmental Management Systems and Environmental Audit
    8. 8.7. Entrepreneurship in Green Business
    9. 8.8. Eco Advantage Strategy and Product Differentiation
    10. 8.9. Ethical Processes, Environmental Ethics, and Triple Bottom Line Business
    11. 8.10. Moving from Sustainable Competitive Advantage to Corporate Sustainability Strategy
    12. 8.11. Green Washing
    13. Summary
    14. Questions for Discussion
    15. Exercises for Understanding
    16. Project for Insights
    17. Strategy Practice: Carbon Clean Solutions
  16. 9. Strategy Execution
    1. Strategy Show: Parle—Staying Competitive, Staying on Course
    2. 9.1. Strategy Implementation Phase of the Strategic Management Process
    3. 9.2. Operationalizing Strategy: Translating Intention to Action
    4. 9.3. Implementing Strategic Change
    5. 9.4. Decision Making During Strategy Execution
    6. 9.5. Structural Implementation
    7. 9.6. Functional Implementation
    8. 9.7. Behavioural Implementation: Culture, Power, and Values
    9. 9.8. Project Implementation: Implementation of Programs in Project Mode
    10. 9.9. Procedural Implementation
    11. 9.10. Resource Allocation
    12. 9.11. Communicating Strategy to Stakeholders
    13. 9.12. Strategic Initiatives
    14. 9.13. Strategic Repositioning
    15. 9.14. Innovation and Entrepreneurship
    16. 9.15. Business Process Re-engineering
    17. Summary
    18. Questions for Discussion
    19. Exercises for Understanding
    20. Project for Insights
    21. Strategy Practice: Ferns N Petals—Filling the Gifting Space
  17. 10. Corporate Governance
    1. Strategy Show: Siemens (India)—Transferring Wealth
    2. 10.1. What is Governance?
    3. 10.2. Composition of the Board of Directors
    4. 10.3. Roles and Responsibilities of Directors in Governance
    5. 10.4. Agency Problem and Shareholder Value
    6. 10.5. Ethical Process in CG
    7. 10.6. Strategic Initiative to Guide Ethical Behaviour
    8. 10.7. Role of Stakeholders in Shaping Ethics in Business
    9. 10.8. Corporate Scams and Failure or Strengthening of Governance
    10. 10.9. Principles of Good Governance
    11. Summary
    12. Questions for Discussion
    13. Exercises for Understanding
    14. Project for Insights
    15. Strategy Practice: Walmart India in Crisis Management Mode
  18. 11. Strategic Leadership
    1. Strategy Show: Cafe Coffee Day—Strategic Leadership and Scaling Heights
    2. 11.1. Understanding Leadership
    3. 11.2. Strategic Leadership Levels
    4. 11.3. Strategic Leadership
    5. 11.4. Operationalizing and Institutionalizing Strategy
    6. 11.5. Managing Conflicts and Getting Co-operation
    7. 11.6. Leadership and Culture
    8. 11.7. Corporate Strategic Leadership Role and Responsibilities
    9. 11.8. Business- or Division-Level Strategic Leadership Role and Responsibilities
    10. 11.9. Leadership Challenges of Strategy Implementation
    11. 11.10. Leading in Times of Great Change, Crisis, and Turmoil
    12. Summary
    13. Questions for Discussion
    14. Exercises for Understanding
    15. Project for Insights
    16. Strategy Practice: Central Parking Services—Strategic Leadership in Action
  19. 12. Monitoring Strategy Implementation
    1. Strategy Show: Aditya Birla Group—Growing Deeper in Multinational Character
    2. 12.1. Balanced Scorecard and Other Techniques of Strategy Success
    3. 12.2. Superior Performance Measures
    4. 12.3. Monitoring Risks and Assumptions of a Strategy
    5. 12.4. Establishing Strategic Controls and Operational Control
    6. 12.5. Disruptive Strategies and Alternate Strategies
    7. 12.6. Strategic Information Systems
    8. 12.7. Activity-Based Costing and Management Approach
    9. 12.8. Organization and Product Lifecycle Assessment
    10. 12.9. Strategy Audit
    11. 12.10. Economic Value-Added and Market Value-Added Concepts
    12. Summary
    13. Questions for Discussion
    14. Exercises for Understanding
    15. Project for Insights
    16. Strategy Practice: Hitting the 1000 Crores Mark in Two Years
  20. 13. Organizational Effectiveness Evaluation
    1. Strategy Show: Pidilite Industries—Accelerators Drive Fevicol
    2. 13.1. What is Organizational Effectiveness?
    3. 13.2. Economic Effectiveness of the Strategy of a Firm
    4. 13.3. Stakeholders’ Satisfaction as a Mesure of Effectiveness
    5. 13.4. Factors Affecting Sustainability
    6. 13.5. Ecological Sustainability Strategy Effectiveness
    7. 13.6. Status, Respect, and Reputation
    8. 13.7. Institution Building
    9. 13.8. Management Control Systems
    10. 13.9. System Audit and Disclosures
    11. 13.10. Project Effectiveness
    12. Summary
    13. Questions for Discussion
    14. Exercises for Understanding
    15. Project for Insights
    16. Strategy Practice: Nalli Silks—Maintaining Identity While Expanding
  21. 14. Strategy for Family Business
    1. Strategy Show: Vicco Laboratories Business for the Family
    2. 14.1. What is Strategy for a Family Business?
    3. 14.2. Strategies Adopted by Family Firms
    4. 14.3. Strategies for the Business Yielding to the Interests of Family
    5. 14.4. Performance Orientation and Key Success Factors of Family Business
    6. 14.5. Financial Management Strategies for Family Businesses
    7. 14.6. Governance in Family Business
    8. 14.7. Leadership Styles of Family Business
    9. 14.8. Integration of Family and Business Values
    10. 14.9. Embedding Founder’s Values and Objectives in the Organization
    11. 14.10. Succession Planning
    12. Summary
    13. Questions for Discussion
    14. Exercises for Understanding
    15. Project for Insights
    16. Strategy Practice: S H Kelkar & Company (SHK)—Company First; Family Second
  22. 15. Strategy for Special Situations and Institutions
    1. Strategy Show: Glocal Hospital
    2. 15.1. Different Organizations for Different Needs and Situations
    3. 15.2. Situation-Specific Strategies
    4. 15.3. Strategy for Educational Institutions
    5. 15.4. Strategy of Healthcare Institutions
    6. 15.5. Strategy for Government or Public Institutions
    7. 15.6. Strategy for Research and Technology Organizations (RTOs)
    8. 15.7. Strategy for Entrepreneurial Ventures and SMEs
    9. 15.8. Strategy for Development Management or Non-Profit Organizations
    10. 15.9. Strategy for Professional Firms
    11. 15.10. Strategy for Political, Cultural, and Literary Organizations
    12. 15.11. Strategy for PE, VC, Banking, and Insurance Firms
    13. 15.12. Strategy for Internet Firms and Internet Dependent Firms
    14. 15.13. Strategy for Sports, Fitness, Entertainment, Media, and Tourism Firms
    15. 15.14. Strategy for Religious and Spiritual Organizations
    16. Summary
    17. Questions for Discussion
    18. Exercises for Understanding
    19. Project for Insights
    20. Strategy Practice: Edusports: School Sports Outsourcing
  23. Case Studies
    1. Case Study 1
    2. Case Study 2
    3. Case Study 3
    4. Case Study 4
    5. Case Study 5
    6. Case Study 6
    7. Case Study 7
    8. Case Study 8
    9. Case Study 9
    10. Case Study 10
  24. Appendix
  25. References