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
- Cover
- Title Page
- Brief Contents
- Contents
- About the Author
- Preface
- Dedication
-
1. Introduction to Business Policy and Strategic Management
- Strategy Show: Mindtree—Right Things the Right Way
- 1.1. Evolution of Strategic Management as a Discipline
- 1.2. Concepts of Strategy and Business Policy
- 1.3. Meaning and Nature of Strategic Management
- 1.4. Importance and Relevance of Strategy
- 1.5. Characteristics of Strategic Management and Strategy Absence
- 1.6. Role of the Strategist-Strategic Management Professionals
- 1.7. Conceptual Framework of Strategic Management
- 1.8. Some Theories Used in Strategic Management
- 1.9. Tools and Techniques in Strategic Management
- 1.10. Forerunners of Strategy in Business Management
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Game Plan of Britannia
-
2. Analysis of Business Environment
- Strategy Show: Shemaroo Rises with Technological Changes
- 2.1. Analysing External Business Environment
- 2.2. Levels of Analysis: PESTELD Framework and ETOP Analysis
- 2.3. Environmental Scanning and Appraisal—Strategic Intelligence
- 2.4. Competitive Environmental Analysis: Industry and Competition
- 2.5. Porter’s Five-Forces Model
- 2.6. Competitive Profile Matrix
- 2.7. Strategies for Competing in Globalizing Markets: Impact of Globalization, MNCs
- 2.8. Internet Economy, E-Commerce, and Social Networking Sites
- 2.9. Changing Strategic Situations, Complexity, Turbulence, and Chaos: Institutional Strategy
- 2.10. Industry Driving Forces
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: ITC: Value from Environmental Stewardship
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3. Internal Analysis
- Strategy Show: TTK: Amassing Resources and Enhancing Value of Prestige
- 3.1. Organizational Appraisal: Firms As Value Creators
- 3.2. Value Chain Analysis and Value Creation
- 3.3. Elements of Value Proposition: Analysing a Company’s Resources and Competitive Position
- 3.4. Dimensions of Value
- 3.5. Value Hierarchy, Value Shop, and Value Network
- 3.6. Assessing Market Value of a Business
- 3.7. Resource-Based View (RBV) of the Firm
- 3.8. Knowledge- and Capability-Based View (KBV)
- 3.9. Concept of Core Competence
- 3.10. Distinctive and Unique Competencies
- 3.11. Dynamic Capabilities
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Mawana Sugars Struggling to Survive
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4. Mission, Vision, Strategic Objectives, and Business Model
- Strategy Show: Mundra Port and SEZ Pvt Ltd—Aiming High and Achieving
- 4.1. Firm and Strategy
- 4.2. Elements of a Firm’s Strategy
- 4.3. Objectives and Functions of a Strategy
- 4.4. Developing Strategic Vision and Strategic Objectives
- 4.5. Levels of Objectives
- 4.6. Organizational Mission and Mission Statements
- 4.7. Stakeholders Expectations, Cooperation, and Ambition
- 4.8. Alignment of a Firm With Community
- 4.9. Elements of a Business Model and Its Relationship with Strategy
- 4.10. Real and Virtual Organizations
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Shriram Transport Finance Company—Adamant about Funding
-
5. Strategy Formulation
- Strategy Show: GMR–Strategy of Overstretching, Burdening Itself
- 5.1. Organizational Appraisal and Strategic Planning Process
- 5.2. Strategic Planning
- 5.3. Strategic Thinking
- 5.4. Scenario Planning or Building, Strategic Direction
- 5.5. Generic Competitive Strategies
- 5.6. Strategy Levels
- 5.7. First Mover Advantages
- 5.8. Strategic Analysis, Strategic Options, Strategy Choice
- 5.9. Norms of Strategy Making
- 5.10. Offensive Strategies and Defensive Strategies
- 5.11. Benchmarking and Industry Standards
- 5.12. Resource-Led Strategies
- 5.13. Strategic Advantage Analysis
- 5.14. Open Strategy
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Micromax—Strategy Attuned to the Market
-
6. Corporate Level Strategies
- Strategy Show: ‘Mahindra—from Rural Roads to Main Roads’
- 6.1. Strategies and Competitive Advantages in Diversified Companies and their Evaluation
- 6.2. Diversification and Integration Strategies
- 6.3. Mergers, Acquisitions, and Takeover Strategies
- 6.4. Strategic Alliances
- 6.5. Joint Venture’s Strategies
- 6.6. International Business Entry Level Strategies
- 6.7. Strategic Sale or Divesting SBU
- 6.8. Political Strategies for Competitive Advantage
- 6.9. Reverse Logistics as Sustainable Competitive Advantage
- 6.10. Outsourcing Strategies: Make vs Buy
- 6.11. Franchising Strategies
- 6.12. Portfolio Analysis
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Marico ‘Separates Feminine Part’
-
7. Business Level and Functional Strategies
- Strategy Show: Reliance Industries—Sharpening the Performance Engine
- 7.1. Strategic Management in a Strategic Business Unit
- 7.2. Stability Strategies
- 7.3. Growth—Horizontal and Vertical
- 7.4. Divestment
- 7.5. Human Resource Strategies
- 7.6. Finance and Accounting Strategies
- 7.7. Marketing and Distribution Strategies
- 7.8. Production and Operations Management Strategies and Tactics
- 7.9. R&D Strategy or Innovation Strategy Creating Value Changing Processes
- 7.10. Learning Organization
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Century Plywoods: Technical Connect to Emotional Connect
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8. Embedding Environmental and Social Considerations in Strategy
- Strategy Show: Star Jalsha TV Channel Assumes Environmental Leadership
- 8.1. Practices for Sustainability of Businesses and Benefits Thereof
- 8.2. Environmental Risk Management
- 8.3. Environmental Communication
- 8.4. Green Strategy
- 8.5. Greening the Value Chain and Lifecycle Assessment
- 8.6. Environmental Management Systems and Environmental Audit
- 8.7. Entrepreneurship in Green Business
- 8.8. Eco Advantage Strategy and Product Differentiation
- 8.9. Ethical Processes, Environmental Ethics, and Triple Bottom Line Business
- 8.10. Moving from Sustainable Competitive Advantage to Corporate Sustainability Strategy
- 8.11. Green Washing
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Carbon Clean Solutions
-
9. Strategy Execution
- Strategy Show: Parle—Staying Competitive, Staying on Course
- 9.1. Strategy Implementation Phase of the Strategic Management Process
- 9.2. Operationalizing Strategy: Translating Intention to Action
- 9.3. Implementing Strategic Change
- 9.4. Decision Making During Strategy Execution
- 9.5. Structural Implementation
- 9.6. Functional Implementation
- 9.7. Behavioural Implementation: Culture, Power, and Values
- 9.8. Project Implementation: Implementation of Programs in Project Mode
- 9.9. Procedural Implementation
- 9.10. Resource Allocation
- 9.11. Communicating Strategy to Stakeholders
- 9.12. Strategic Initiatives
- 9.13. Strategic Repositioning
- 9.14. Innovation and Entrepreneurship
- 9.15. Business Process Re-engineering
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Ferns N Petals—Filling the Gifting Space
-
10. Corporate Governance
- Strategy Show: Siemens (India)—Transferring Wealth
- 10.1. What is Governance?
- 10.2. Composition of the Board of Directors
- 10.3. Roles and Responsibilities of Directors in Governance
- 10.4. Agency Problem and Shareholder Value
- 10.5. Ethical Process in CG
- 10.6. Strategic Initiative to Guide Ethical Behaviour
- 10.7. Role of Stakeholders in Shaping Ethics in Business
- 10.8. Corporate Scams and Failure or Strengthening of Governance
- 10.9. Principles of Good Governance
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Walmart India in Crisis Management Mode
-
11. Strategic Leadership
- Strategy Show: Cafe Coffee Day—Strategic Leadership and Scaling Heights
- 11.1. Understanding Leadership
- 11.2. Strategic Leadership Levels
- 11.3. Strategic Leadership
- 11.4. Operationalizing and Institutionalizing Strategy
- 11.5. Managing Conflicts and Getting Co-operation
- 11.6. Leadership and Culture
- 11.7. Corporate Strategic Leadership Role and Responsibilities
- 11.8. Business- or Division-Level Strategic Leadership Role and Responsibilities
- 11.9. Leadership Challenges of Strategy Implementation
- 11.10. Leading in Times of Great Change, Crisis, and Turmoil
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Central Parking Services—Strategic Leadership in Action
-
12. Monitoring Strategy Implementation
- Strategy Show: Aditya Birla Group—Growing Deeper in Multinational Character
- 12.1. Balanced Scorecard and Other Techniques of Strategy Success
- 12.2. Superior Performance Measures
- 12.3. Monitoring Risks and Assumptions of a Strategy
- 12.4. Establishing Strategic Controls and Operational Control
- 12.5. Disruptive Strategies and Alternate Strategies
- 12.6. Strategic Information Systems
- 12.7. Activity-Based Costing and Management Approach
- 12.8. Organization and Product Lifecycle Assessment
- 12.9. Strategy Audit
- 12.10. Economic Value-Added and Market Value-Added Concepts
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Hitting the 1000 Crores Mark in Two Years
-
13. Organizational Effectiveness Evaluation
- Strategy Show: Pidilite Industries—Accelerators Drive Fevicol
- 13.1. What is Organizational Effectiveness?
- 13.2. Economic Effectiveness of the Strategy of a Firm
- 13.3. Stakeholders’ Satisfaction as a Mesure of Effectiveness
- 13.4. Factors Affecting Sustainability
- 13.5. Ecological Sustainability Strategy Effectiveness
- 13.6. Status, Respect, and Reputation
- 13.7. Institution Building
- 13.8. Management Control Systems
- 13.9. System Audit and Disclosures
- 13.10. Project Effectiveness
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Nalli Silks—Maintaining Identity While Expanding
-
14. Strategy for Family Business
- Strategy Show: Vicco Laboratories Business for the Family
- 14.1. What is Strategy for a Family Business?
- 14.2. Strategies Adopted by Family Firms
- 14.3. Strategies for the Business Yielding to the Interests of Family
- 14.4. Performance Orientation and Key Success Factors of Family Business
- 14.5. Financial Management Strategies for Family Businesses
- 14.6. Governance in Family Business
- 14.7. Leadership Styles of Family Business
- 14.8. Integration of Family and Business Values
- 14.9. Embedding Founder’s Values and Objectives in the Organization
- 14.10. Succession Planning
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: S H Kelkar & Company (SHK)—Company First; Family Second
-
15. Strategy for Special Situations and Institutions
- Strategy Show: Glocal Hospital
- 15.1. Different Organizations for Different Needs and Situations
- 15.2. Situation-Specific Strategies
- 15.3. Strategy for Educational Institutions
- 15.4. Strategy of Healthcare Institutions
- 15.5. Strategy for Government or Public Institutions
- 15.6. Strategy for Research and Technology Organizations (RTOs)
- 15.7. Strategy for Entrepreneurial Ventures and SMEs
- 15.8. Strategy for Development Management or Non-Profit Organizations
- 15.9. Strategy for Professional Firms
- 15.10. Strategy for Political, Cultural, and Literary Organizations
- 15.11. Strategy for PE, VC, Banking, and Insurance Firms
- 15.12. Strategy for Internet Firms and Internet Dependent Firms
- 15.13. Strategy for Sports, Fitness, Entertainment, Media, and Tourism Firms
- 15.14. Strategy for Religious and Spiritual Organizations
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Edusports: School Sports Outsourcing
- Case Studies
- Appendix
- References
Product information
- Title: Strategic Management,1/e
- Author(s):
- Release date: May 2015
- Publisher(s): Pearson Education India
- ISBN: 9789352861224
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