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Hugh Macmillan and Mahen Tampoe give a structured and balanced summary of the most important concepts in the field of strategic management. They examine how these concepts may be effectively applied in practice, giving special attention to demonstrating the significance of the role of people in strategy implementation. In particular, the authors emphasize how effective strategists use theory in a constructive way without becoming slaves to it. Chapter summaries, further reading recommendations, clear figures and boxed case studies real-life business examples help to illustrate concepts and indicate further sources of learning materials.

Strategic management forms the core of any business course. The body of literature available has grown rapidly, leading to a tendency for textbooks on the subject to become very large, with authors seeking ever-expanding coverage. This textbook provides a concise alternative to such volumes. Most business students are hoping to derive some usable knowledge from the time they spend on strategic management, besides the academic knowledge to pass their examinations. This text therefore takes practice into account as well as the academic literature, and gives full weight to the real-life problems of implementing strategy. In order to be as accessible as possible, the book includes the following learning aids: Clear division into parts to establish a focus on core aspects of the subject Diagrams which illustrate the overall logic of the subject Summaries of each part in the first chapter of that part Summaries at the end of each chapter Case examples to illustrate the practical impact of the principles described in the text A brief commentary and questions for discussion on each case example A glossary for easy reference to the definitions of special terms

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CONTENTS

Introduction = 1

Part Ⅰ Introduction to Strategy and Strategic Management

 1 The Structure of this Book = 7

 2 What is Strategy? = 12

  2.1 The nature of strategy = 12

  2.2 Strategy from the manager's point of view = 12

  2.3 Definitions of strategy = 13

  2.4 The military origins of strategy = 14

  2.5 The political role of strategy = 15

  2.6 The academic contribution to strategy = 16

  2.7 The contribution of practitioners = 17

  2.8 A theoretical general solution to strategic dilemmas? = 18

  2.9 Summary = 19

 3 Schools of Thought on Strategy and Strategic Management = 21

  3.1 Introduction = 21

  3.2 Aspects of strategy = 21

  3.3 Whittington's four generic approaches to strategy = 24

  3.4 A safari through the strategic management literature = 25

  3.5 Summary = 28

Part Ⅱ Context

 4 Why Context Matters = 31

  4.1 Introduction = 31

  4.2 What do we mean by context? = 32

  4.3 The dimensions of context = 33

  4.4 Focus in context = 33

  4.5 The significance of the uniqueness of context = 34

  4.6 Typical issues and dilemmas posed = 35

  4.7 Theoretical models of the relevance of context = 36

  4.8 Examples of differing contexts and dilemmas = 37

  4.9 Summary = 41

 5 The Diversity of Context = 42

  5.1 Introduction = 42

  5.2 'Normal' businesses = 42

  5.3 Knowledge-intensive enterprises = 44

  5.4 Mature businesses and declining industries = 45

  5.5 Turnaround, recovery, and end-games = 46

  5.6 Strategic management in the public sector = 48

  5.7 Traditional public sector management = 49

  5.8 Comparison of private and public sector management = 50

  5.9 Differences among public sector entities = 52

  5.10 Summary = 56

Part Ⅲ The Strategy Formulation Process

 6 The Strategy Formulation Process : Overview = 61

  6.1 The importance of the strategy formulation process = 61

  6.2 The three logical elements of the strategy formulation process = 64

  6.3 Effective strategy formulation processes in practice = 66

  6.4 Results from the strategy formulation process = 68

  6.5 Summary = 69

 7 Strategic Intent = 70

  7.1 The concept of strategic intent = 70

  7.2 Strategic intent in practice = 71

  7.3 The role of leadership in forming strategic intent = 74

  7.4 Stakeholders and their ability to influence strategic intent = 74

  7.5 Impact of context on strategic intent = 76

  7.6 Contrasting views on the nature of strategic intent = 78

  7.7 Summary = 79

 8 Strategic Assessment : General Principles = 81

  8.1 The purpose of strategic assessment = 81

  8.2 Strategic assessment as part of the strategy formulation process = 82

  8.3 The questions that strategic assessment should address = 84

  8.4 Selecting analytical frameworks and tools to support strategic assessment = 85

  8.5 Assessing competitive advantage = 86

  8.6 Assessing corporate advantage = 89

  8.7 Pulling the strategic assessment together = 91

  8.8 Strategic assessment of a business as a whole = 93

  8.9 Summary = 94

 9 Strategic Assessment : Analysis of the External Environment = 95

  9.1 The purpose of external analysis = 95

  9.2 Analysis of the overall business environment : PEST analysis = 96

  9.3 Stakeholders, corporate governance, and responsibility = 99

  9.4 Industry analysis : a word of warning = 101

  9.5 Industry analysis : Porter's five forces model and its extension = 102

  9.6 Life stage analysis of an industry = 106

  9.7 Competitor analysis : general = 107

  9.8 Ohmae's model for analysing competitors = 108

  9.9 Analysis of competitive advantage = 109

  9.10 The market commitment model = 110

  9.11 Scenario planning = 111

  9.12 Summary = 112

 10 Strategic Assessment : Analysis of Resources, Capabilities, and Competence = 114

  10.1 The purpose of internal analysis = 114

  10.2 Resource audit = 115

  10.3 Analysis of costs and profit = 116

  10.4 Benchmarking = 117

  10.5 Value chain analysis = 118

  10.6 Supply chain analysis = 119

  10.7 Identifying core competence = 120

  10.8 Shareholder value analysis = 123

  10.9 Distinctive organizational capabilities = 125

  10.10 Assessing parenting advantage = 126

  10.11 Portfolio analysis = 127

  10.12 Summary : choosing the right frameworks for internal analysis = 129

 11 Strategic Choice = 132

  11.1 Importance of choice in the strategy formulation process = 132

  11.2 Structure of strategic choice = 133

  11.3 Options for markets and products／services = 135

  11.4 Options for building resources, capabilities, and competence = 138

  11.5 Options in methods of implementation = 139

  11.6 Grouping options into strategic options = 141

  11.7 General tests of strategic options = 141

  11.8 Who should be involved with the choice? = 142

  11.9 Theoretical frameworks for assisting strategic choice = 142

  11.10 Strategic choices in the case examples = 145

  11.11 Summary = 145

 12 Analytical Tools to Support the Strategy Formulation Process = 147

  12.1 Introduction = 147

  12.2 Models as analytical tools = 148

  12.3 Using raw data for situation analysis = 149

  12.4 Simulations = 149

  12.5 Strategy software as a tool for strategy formulation = 150

  12.6 Categories of software = 153

  12.7 Application of these strategy support tools = 155

  12.8 How do these tools help the strategist? = 155

  12.9 Points to ponder when choosing software = 156

  12.10.Summary = 158

Part Ⅳ Strategy Content

 13 Strategy Content : Overview = 163

  13.1 Introduction = 163

  13.2 The form of strategy = 164

  13.3 The documentation of strategy content = 166

  13.4 Other results from the strategy formulation process = 168

  13.5 Summary = 168

 14 Business Strategies = 170

  14.1 Introduction = 170

  14.2 The scope of business strategy = 171

  14.3 Content of a business strategy document = 171

  14.4 Meeting the real needs of customers = 173

  14.5 Exploiting genuine competence in business strategy = 174

  14.6 Providing sustainable competitive advantage = 174

  14.7 Laying the ground for implementation = 175

  14.8 Summary = 175

 15 Corporate Strategy = 176

  15.1 Introduction = 176

  15.2 The historical development of ideas about corporate strategy = 177

  15.3 The impact of financial markets on corporate strategy = 179

  15.4 Documenting corporate strategy = 180

  15.5 Corporate strategy in the case examples = 181

  15.6 Summary = 182

Part Ⅴ The Strategy Implementation Process

 16 Implementing Strategy : Realizing Strategic Intent = 185

  16.1 Introduction = 185

  16.2 The importance of strategy implementation = 185

  16.3 The scope of strategy implementation = 187

  16.4 Strategy implementation : winning combinations? = 188

  16.5 Strategic change management = 189

  16.6 Change leadership : taking the hearts and minds with you = 191

  16.7 Change management : programme and project management = 192

  16.8 Changing processes = 192

  16.9 Changing culture = 193

  16.10 Changing organizational structures = 194

  16.11 Adaptability : a strategic capability = 195

  16.12 Summary = 195

 17 Implementing Strategy : Leading Strategic Change = 197

  17.1 Introduction = 197

  17.2 Leading and managing change : a quick overview = 198

  17.3 The role of the change leader : why it is different from organizational leadership = 200

  17.4 On whom should change leaders focus their transformational skills = 204

  17.5 The multiple roles required for successful change = 205

  17.6 Summary = 208

 18 Implementing Strategy : Managing the Change Programme = 209

  18.1 Introduction = 209

  18.2 Programme management = 209

  18.3 Project management = 211

  18.4 The people in the change process and their relationships = 214

  18.5 Measuring the success of strategic change programmes = 214

  18.6 Managing programme and project risks = 215

  18.7 Summary = 218

 19 Changing Business Processes = 219

  19.1 Introduction = 219

  19.2 The eight steps to change business processes = 221

  19.3 Step 1 : Review all existing processes against the new strategy = 221

  19.4 Step 2 : Gain management agreement to process changes = 222

  19.5 Step 3 : Find best practice = 224

  19.6 Step 4 : Develop criteria and measures of process effectiveness = 225

  19.7 Step 5 : Revise and update existing processes to meet new operational needs = 226

  19.8 Step 6 : Install new／revised processes = 228

  19.9 Step 7 : Publicize their presence to all staff = 229

  19.10 Step 8 : Remove outdated processes = 229

  19.11 Summary = 230

 20 Building the Culture for Successful Strategy Implementation = 232

  20.1 Introduction = 232

  20.2 Nine activities to change the culture to support the strategy = 234

  20.3 Activity 1 : sell the new strategic intent = 234

  20.4 Activity 2 : interpret the organizational culture = 236

  20.5 Activity 3 : develop group decision-making skills = 238

  20.6 Activity 4 : introduce innovative thinking that welcomes change = 240

  20.7 Activity 5 : develop skills and knowledge base = 241

  20.8 Activity 6 : encourage staff to feel secure = 242

  20.9 Activity 7 : develop means of helping staff deliver consistent performance = 243

  20.10 Activity 8 : enable access to management during periods of change = 244

  20.11 Activity 9 : encourage thinking that focuses on the outside world = 245

  20.12 Summary = 245

 21 Implementing Strategy : Managing Structural Change = 247

  21.1 Introduction = 247

  21.2 Organizational forces = 248

  21.3 Organizational forms = 249

  21.4 Organizational structures = 250

  21.5 Optimizing the design of organizational structure = 252

  21.6 People and structure = 254

  21.7 Structure and leadership = 255

  21.8 Organizational capability = 256

  21.9 Determining organization structures to fit strategic aims = 258

  21.10 Summary = 261

 22 Adaptability : A Strategic Capability = 263

  22.1 Introduction = 263

  22.2 Planned change = 264

  22.3 Adaptability as a strategic capability = 266

  22.4 Adaptive learning systems as sources of strategic advantage = 268

  22.5 Planned learning organizations = 269

  22.6 Building a planned adaptive organisation = 270

  22.7 Summary = 271

Epilogue = 273