Strategic Management Concepts and Cases Competitiveness and Globalization 12th Edition by Michael A Hitt, R Duane Ireland, Robert E Hoskisson ISBN 1305502140 9781305502208

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ISBN 10: 1305502140 
ISBN 13: 9781305502208
Author: Michael A. Hitt, R. Duane Ireland, Robert E. Hoskisson

Introduce your students to strategic management with the market-leading text that sets the standard for the course area. Written by respected scholars who have taught strategic management at all educational levels, Hitt, Ireland, and Hoskisson’s latest edition provides an intellectually rich, yet thoroughly practical, analysis of strategic management. The classic industrial organization model is combined with a resource-based view of the firm to provide students with a complete understanding of how today’s businesses establish competitive advantages and create value for stakeholders. Cutting-edge research is presented with a strong global focus, featuring more than 500 emerging and established companies. All-new opening cases introduce chapter concepts and mini cases offer new contexts of study.

Strategic Management Concepts and Cases: Competitiveness and Globalization 12th Table of contents:

Part 1. Strategic Management Inputs
Chapter 1. Strategic Management and Strategic Competitiveness
The Competitive Landscape
The Global Economy
Technology and Technological Changes
The I/O Model of Above-Average Returns
The Resource-Based Model of Above-Average Returns
Vision and Mission
Vision
Mission
Stakeholders
Classifications of Stakeholders
Strategic Leaders
The Work of Effective Strategic Leaders
The Strategic Management Process
Summary
Key Terms
Review Questions
Mini-Case. Competition in the Airlines Industry
Chapter 2. The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis
The General, Industry, and Competitor Environments
External Environmental Analysis
Scanning
Monitoring
Forecasting
Assessing
Segments of the General Environment
The Demographic Segment
The Economic Segment
The Political/Legal Segment
The Sociocultural Segment
The Technological Segment
The Global Segment
The Sustainable Physical Environment Segment
Industry Environment Analysis
Threat of New Entrants
Bargaining Power of Suppliers
Bargaining Power of Buyers
Threat of Substitute Products
Intensity of Rivalry among Competitors
Interpreting Industry Analyses
Strategic Groups
Competitor Analysis
Ethical Considerations
Summary
Key Terms
Review Questions
Mini-Case. The Informal Economy: What It Is and Why It Is Important?
Chapter 3. The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages
Analyzing the Internal Organization
The Context of Internal Analysis
Creating Value
The Challenge of Analyzing the Internal Organization
Resources, Capabilities, and Core Competencies
Resources
Capabilities
Core Competencies
Building Core Competencies
The Four Criteria of Sustainable Competitive Advantage
Value Chain Analysis
Outsourcing
Competencies, Strengths, Weaknesses, and Strategic Decisions
Summary
Key Terms
Review Questions
Mini-Case. Zara: The Capabilities behind the Spanish “Fast Fashion” Retail Giant
Part 2. Strategic Actions: Strategy Formulation
Chapter 4. Business-Level Strategy
Customers: Their Relationship with Business-Level Strategies
Effectively Managing Relationships with Customers
Reach, Richness, and Affiliation
Who: Determining the Customers to Serve
What: Determining Which Customer Needs to Satisfy
How: Determining Core Competencies Necessary to Satisfy Customer Needs
The Purpose of a Business-Level Strategy
Types of Business-Level Strategies
Cost Leadership Strategy
Differentiation Strategy
Focus Strategies
Integrated Cost Leadership/Differentiation Strategy
Summary
Key Terms
Review Questions
Mini-Case. Is JCPenney Killing Itself with a Failed Strategy?
Chapter 5. Competitive Rivalry and Competitive Dynamics
A Model of Competitive Rivalry
Competitor Analysis
Market Commonality
Resource Similarity
Drivers of Competitive Behavior
Competitive Rivalry
Strategic and Tactical Actions
Likelihood of Attack
First-Mover Benefits
Organizational Size
Quality
Likelihood of Response
Type of Competitive Action
Actor’s Reputation
Market Dependence
Competitive Dynamics
Slow-Cycle Markets
Fast-Cycle Markets
Standard-Cycle Markets
Summary
Key Terms
Review Questions
Mini-Case. FedEx and United Parcel Service (UPS): Maintaining Success while Competing Aggressively
Chapter 6. Corporate-Level Strategy
Levels of Diversification
Low Levels of Diversification
Moderate and High Levels of Diversification
Reasons for Diversification
Value-Creating Diversification: Related Constrained and Related Linked Diversification
Operational Relatedness: Sharing Activities
Corporate Relatedness: Transferring of Core Competencies
Market Power
Simultaneous Operational Relatedness and Corporate Relatedness
Unrelated Diversification
Efficient Internal Capital Market Allocation
Restructuring of Assets
Value-Neutral Diversification: Incentives and Resources
Incentives to Diversify
Resources and Diversification
Value-Reducing Diversification: Managerial Motives to Diversify
Summary
Key Terms
Review Questions
Mini-Case. Sany Heavy Industry Co., Ltd
Chapter 7. Merger and Acquisition Strategies
The Popularity of Merger and Acquisition Strategies
Mergers, Acquisitions, and Takeovers: What Are the Differences?
Reasons for Acquisitions
Increased Market Power
Overcoming Entry Barriers
Cost of New Product Development and Increased Speed to Market
Lower Risk Compared to Developing New Products
Increased Diversification
Reshaping the Firm’s Competitive Scope
Learning and Developing New Capabilities
Problems in Achieving Acquisition Success
Integration Difficulties
Inadequate Evaluation of Target
Large or Extraordinary Debt
Inability to Achieve Synergy
Too Much Diversification
Managers Overly Focused on Acquisitions
Too Large
Effective Acquisitions
Restructuring
Downsizing
Downscoping
Leveraged Buyouts
Restructuring Outcomes
Summary
Key Terms
Review Questions
Mini-Case. Strategic Acquisitions and Accelerated Integration of Those Acquisitions are a Vital Capability of Cisco Systems
Chapter 8. International Strategy
Identifying International Opportunities
Incentives to Use International Strategy
Three Basic Benefits of International Strategy
International Strategies
International Business-Level Strategy
International Corporate-Level Strategy
Environmental Trends
Liability of Foreignness
Regionalization
Choice of International Entry Mode
Exporting
Licensing
Strategic Alliances
Acquisitions
New Wholly Owned Subsidiary
Dynamics of Mode of Entry
Risks in an International Environment
Political Risks
Economic Risks
Strategic Competitiveness Outcomes
International Diversification and Returns
Enhanced Innovation
The Challenge of International Strategies
Complexity of Managing International Strategies
Limits to International Expansion
Summary
Key Terms
Review Questions
Mini-Case. An International Strategy Powers ABB’s Future
Chapter 9. Cooperative Strategy
Strategic Alliances as a Primary Type of Cooperative Strategy
Types of Major Strategic Alliances
Reasons Firms Develop Strategic Alliances
Business-Level Cooperative Strategy
Complementary Strategic Alliances
Competition Response Strategy
Uncertainty-Reducing Strategy
Competition-Reducing Strategy
Assessing Business-Level Cooperative Strategies
Corporate-Level Cooperative Strategy
Diversifying Strategic Alliance
Synergistic Strategic Alliance
Franchising
Assessing Corporate-Level Cooperative Strategies
International Cooperative Strategy
Network Cooperative Strategy
Alliance Network Types
Competitive Risks with Cooperative Strategies
Managing Cooperative Strategies
Summary
Key Terms
Review Questions
Mini-Case. Alliance Formation, Both Globally and Locally, in the Global Automobile Industry
Part 3. Strategic Actions: Strategy Implementation
Chapter 10. Corporate Governance
Separation of Ownership and Managerial Control
Agency Relationships
Product Diversification as an Example of an Agency Problem
Agency Costs and Governance Mechanisms
Ownership Concentration
The Increasing Influence of Institutional Owners
Board of Directors
Enhancing the Effectiveness of the Board of Directors
Executive Compensation
The Effectiveness of Executive Compensation
Market for Corporate Control
Managerial Defense Tactics
International Corporate Governance
Corporate Governance in Germany and Japan
Corporate Governance in China
Governance Mechanisms and Ethical Behavior
Summary
Key Terms
Review Questions
Mini-Case. The Imperial CEO, JPMorgan Chase’s Jamie Dimon
Chapter 11. Organizational Structure and Controls
Organizational Structure and Controls
Organizational Structure
Organizational Controls
Relationships between Strategy and Structure
Evolutionary Patterns of Strategy and Organizational Structure
Simple Structure
Functional Structure
Multidivisional Structure
Matches between Business-Level Strategies and the Functional Structure
Matches between Corporate-Level Strategies and the Multidivisional Structure
Matches between International Strategies and Worldwide Structure
Matches between Cooperative Strategies and Network Structures
Implementing Business-Level Cooperative Strategies
Implementing Corporate-Level Cooperative Strategies
Implementing International Cooperative Strategies
Summary
Key Terms
Review Questions
Mini-Case. Unilever Cooperates with Many Firms and Nonprofit Organizations to Implement Its Strategy While Creating a More Sustainable Environment
Chapter 12. Strategic Leadership
Strategic Leadership and Style
The Role of Top-Level Managers
Top Management Teams
Managerial Succession
Key Strategic Leadership Actions
Determining Strategic Direction
Effectively Managing the Firm’s Resource Portfolio
Sustaining an Effective Organizational Culture
Emphasizing Ethical Practices
Establishing Balanced Organizational Controls
Summary
Key Terms
Review Questions
Mini-Case. A Change at the Top at Procter & Gamble: An Indication of How Much the CEO Matters?
Chapter 13. Strategic Entrepreneurship
Entrepreneurship and Entrepreneurial Opportunities
Innovation
Entrepreneurs
International Entrepreneurship
Internal Innovation
Incremental and Novel Innovation
Autonomous Strategic Behavior
Induced Strategic Behavior
Implementing Internal Innovations
Cross-Functional Product Development Teams
Facilitating Integration and Innovation
Creating Value from Internal Innovation
Innovation through Cooperative Strategies
Innovation through Acquisitions
Creating Value through Strategic Entrepreneurship
Summary
Key Terms
Review Questions
Mini-Case. An Innovation Failure at JCPenney: Its Causes and Consequences
Part 4. Case Studies
Case 1. Kindle Fire: Amazon’s Heated Battle for the Tablet Market
History of Amazon
The Emergence of E-Readers
The Amazon Kindle
E-Book Ecosystems
Barnes & Noble E-Readers
Apple Introduces the iPad
Google Android Tablets
Introduction of the Kindle Fire
Customer Segments for the Kindle Fire
Positioning the Kindle Fire
Pricing and Business Model Decisions
Conclusion
Case 2. American Express: Bank 2.0
A New Mission in Enterprise Growth
The Closed-Loop Network
Experiencing Exclusion
Options in a Competitive Landscape
History of Prepaid Products at American Express
An Expansion in Brand Identity and Business Model: “From Exclusive to Inclusive”
Reaching the Underbanked: How to Distribute the Product?
Calling the Question
Case 3. BP In Russia: Bad Partners or Bad Partnerships? (A)
Russian Oil and BP’s Past Investments
Russian privatization
BP, TNK, and Sidanko
BP and Rosneft
Proposing a new alliance
The problem
BP’s Past Mergers and Alliances
Alliance Types in the Oil Industry
Moving Forward
Case 4. Carlsberg in Emerging Markets
Introducing Carlsberg A/S
Organization
Towards an Emerging Market Strategy
Carlsberg in Russia
Carlsberg in China
Case 5. Fisk Alloy Wire, Inc. and Percon
The Company
The Wire Production Process
Copper Alloys and High Performance Alloys
Market Opportunities
Going Forward
Case 6. Business Model and Competitive Strategy of IKEA in India
About IKEA
Corporate Structure
Going Global
Manufacturing and Other Initiatives
Global Furniture Industry
Furniture Industry in India
IKEA’s Entry into India
Overcoming Regulatory and Political Roadblocks
Working with Suppliers
Challenges
Looking Ahead
Case 7. Invitrogen (A)
Invitrogen
Invitrogen’s Future
Next-Generation Sequencing: Path to Personalized Medicine?
Strategic Options
Applied Biosystems
The Human Genome Project
Applied Biosystems in Trouble
Illumina
Pacific Biosciences
Evaluating the Options
Next Steps
Glossary of Terms
Additional References
Case 8. Keurig: From David to Goliath: The Challenge of Gaining and Maintaining Marketplace Leadership
The Company and Its Products
At Home Product Introduction
A New Business Is Brewing
Managing Brewer Manufacturing Costs
Keurig’s Retail Launch Strategy
The At Home Marketplace Heats Up
Competitor Activity
Changes at Keurig
Marketplace Evolution
Choose. Brew. Enjoy.®
Choose
Brew
Enjoy?
Case 9. KIPP Houston Public Schools
Setting the Scene
Storied Beginnings
Nationwide Growth
A Region Is Born
The “Target Market”
Rules of the Game
Staffing
Curriculum and Operations
The Money Gap
Organization: Bottom Up and Top Down
The People Problem
The Curriculum Conundrum
The Promise of Technology
Competitive Pressures
The Next Chapter
Case 10. Luck Companies: Igniting Human Potential
Luck Companies and Industry Overview
Luck Stone
Luck Stone Center
Luck Development Partners
Har-Tru
History
The Founders Years 1923 to 1964
Expansion, the Charles S. Luck, III, Years, 1965 to 1992
The Charles Luck IV Years
The Values Journey – Vision 2010 – Phase I: 2003–2007
The Values Journey – Vision 2020 – Phase II: 2007–2008
New Strategic Leadership Team
Reduction in Force: 2008
The Values Journey Continues – Phase III: 2009 – Present
The Future of the Values Journey
Vision 2020
2020 Objectives and Goals by Business Unit
Luck Stone Center
Har-Tru
Grow product basket
Broaden and deepen connection to the customer
Luck Development Partners
Luck Stone: The 2015–2020 Growth Engine
Case 11. Corporate Governance at Martha Stewart Living Omnimedia: Not “A Good Thing”
A Brief History of Martha Stewart Living Omnimedia
Competition
A Grand Vision
A Crippling Blow
Glimmers of Hope
Narrowing Options
A Turning Point
At a Crossroads
Case 12. The Movie Exhibition Industry: 2015
The Motion Picture Value Chain
Studio Production
Distribution
Exhibition
The Business of Exhibition
Box Office Revenues
Concessions
Advertising
The Major Exhibitor Circuits
Challenges for Exhibitors
Benefitting From Digital Investments
Countering the Declining Allure of the Theater
Recent Exhibitor Initiatives
Projection Innovations
Alternative Content
Immersion Experiences: 4D & Beyond
Concession Initiatives
Advertising Initiatives
Reserved Seating
Dynamic Pricing
Multi-Entertainment Venues
Is There A Guardian of the Exhibitors?
Case 13. Polaris and Victory: Entering and Growing the Motorcycle Business
Polaris Industries, Inc.
Expansion Into Motorcycles
Victory Motorcycle Development
Victory Becomes a Reality
Manufacturing and Distribution
Assessing the Market
Introducing Victory to the Market
Industry Competition
Japanese Manufacturers – Honda, Yamaha, Kawasaki and Suzuki
Harley-Davidson
Excelsior-Henderson
Other competitors
New markets and emerging technologies
The Indian Acquisition
Growing Polaris Motorcycles
The Future
Case 14. Safaricom: Innovative Telecom Solutions to Empower Kenyans
Operating in Africa
Kenya
Services
Financial Performance
Inside Safaricom
Management
Training
Human Resources
Distribution Channel
Sales and Advertising
Strategic Priorities
The Safaricom Foundation
Vodafone Group PLC
Industry Competition
Bharti airtel
Telkom Kenya (Orange)
Essar Telekom Kenya (yuMobile)
Millicom
Etisalat Emirate Telecommunications Company
MTN Group
Next Moves
Case 15. Siemens: Management Innovation at the Corporate Level
Introduction
Company Profile of Siemens
Management Innovation Activity at Siemens
Context and Evolution of the top + Program
Purpose and Content of the top + Program
Implementation of the top + Program
Capability Development and the top + Program
Performance (Measurement) of the top + Program
The Future of Management Innovation At Siemens
Case 16. Southwest Airlines
The U.S. Airline Industry
Industry Economics
Recent U.S. Airline Industry Performance
Southwest Airlines Background
Southwest’s Operations
Recent Service Changes
Southwest’s Performance
Herb Kelleher
The Southwest Spirit
Southwest Imitators
A Successful Start-Up: JetBlue Airways
Southwest Expansion
The AirTran Deal
Future Challenges
Case 17. Starbucks Corporation: The New S-Curves
New Products and Categories
Super-Premium Juice
Better food
Tea
Starbucks Evenings
Carbonated beverages
Keeping Up with Coffee and the Core Business
Seattle’s Best Coffee
Store Improvement, Development, and Expansion
The Americas and Digital Ventures
EMEA
CAP
Channel Development
Leadership, Culture, and Employee Engagement
Community Service
Conclusion
Case 18. Super Selectos: Winning the War Against Multinational Retail Chains
Abstract
1. Introduction
2. Economic, Political and Social Situation
3. Retail Industry
4. Strategies of Global Retailers
4.1. Suppliers
4.2. Consumers
5. Food Retailers in Central America
6. Calleja Group
6.1. Organizational Structure
7. Walmart and Walmart Mexico and Central America
7.1. SUCAP
8. Closing
9. Exhibit 1
9.1. Hypermarkets and Supermarkets in Central America by 2011
Appendix A. Supplementary Data
Notes
Case 19. Tim Hortons Inc.
The Restaurant Industry
Consumer Trends
Tim Hortons: A History
Organizational Structure
Mission and Vision
Foundation
Store Locations
Products
Franchise System
Store Operations
Sourcing
Production and Distribution
Marketing
Goals
Financial Performance
The Competition
McDonald’s
Starbucks
Dunkin’ Donuts
Tim Hortons’ Strategic Plan 2014 to 2018
Acquisition
Path Forward: Strategic Choices
Case 20. W. L. Gore—Culture of Innovation
Background and Brief History
Lattice Enterprise; No Hierarchies
Leaders, Sponsors, and Associates; No Titles or Bosses
Only Commitments; No Assignments
Anyone Can Be an Innovator; Nerds Are Mavericks
“Real, Win, Worth”
Purpose, Passion, Persistence, Patience
Freedom to Experiment; No Fear of Failure

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