Strategic Management or Introduction to the Law of Real Property

Strategic Management

Author: Charles Hill

This leading strategy text presents the complexities of strategic management through up-to-date scholarship and hands-on applications. Authors Charles Hill and Gareth Jones—both highly regarded in the management field—integrate cutting-edge research, rising trends in strategy, and hot topics such as corporate performance, governance, strategic leadership, technology, and business ethics through both theory and cases.

Most of the chapter-opening and chapter-closing cases are new, and the authors have either replaced or substantially revised all Strategy in Action boxes. The Seventh Edition also contains a new Running Case on Wal-Mart, introducing relevant aspects of the company's strategy and performance to reinforce the practical application of key concepts and to illustrate how successive chapter topics tie together. In addition to numerous examples and hands-on activities, several new technology resources support instructors and enhance the learning experience for students.

• This edition features a total of 35 high-quality cases covering small, medium, and large companies (domestic and international). Some of the companies and industries highlighted include Toyota, GM, Satellite Radio (XM vs. Sirius), the music industry, Staples, Charles Schwab, and Hewlett Packard.
• New! Web-based Micromatic Management Simulation Game offers a complete capstone business experience, challenging students to make business decisions they will face as managers. Designed for graduate- and undergraduate-level courses, Micromatic presents real-world scenarios from pricing and budgeting to sales and operations. With its easy-to-use interface andcomprehensive customer service program, Micromatic provides a dynamic, competitive learning environment with superior technical support.
• New! The HMXChange Business Case Database allows instructors to assemble, maintain, and update casebooks from any computer with an Internet connection. The result is a printed casebook tailored to meet specific course goals.
• New! The Eduspace online learning tool pairs the widely recognized resources of Blackboard with quality, text-specific content from Houghton Mifflin. Eduspace makes it easy for instructors to create all or part of a course online. Auto-graded homework exercises, tests, tutorials, and supplemental study materials all come ready-to-use.
• New! Both the theory and case portions of the book now feature a four-color design to enhance student interest.

Table of Contents:

Contents

Note: Each chapter begins with an Overview, and concludes with a Summary of Chapter and Discussion Questions.

• I. Introduction to Strategic Management
• 1. Strategic Leadership: Managing the Strategy, Making Process for Competitive Advantage
  Opening Case: Wal-Mart
  Strategic Leadership, Competitive Advantage, and Superior Performance
  Strategic Managers
  The Strategy-Making Process
  Strategy in Action 1.1: Strategic Planning at Microsoft
  Strategy as an Emergent Process
  Strategy in Action 1.2: A Strategic Shift at Microsoft
  Strategy in Action 1.3: The Genesis of Autonomous Action at 3M
  Strategic Planning in Practice
  Strategic Decision Making
  Strategy in Action 1.4: Was Intelligence on Iraq Biased by Groupthink?
  Strategic Leadership
  Practicing Strategic Management. Small-Group Exercise: Designing a Planning System; Article File 1; Strategic Management Project: Module 1; Exploring the Web: Visiting 3M; General Task
  Closing Case: Shattered Dreams: Level 3 Communications
  Appendix to Chapter 1: Enterprise Valuation, ROIC, and Growth

  2. External Analysis: The Identification of Opportunities and Threats

  Opening Case: Why Is the Pharmaceutical Industry So Profitable?

  Defining an Industry

  Porter's Five Forces Model

  Strategy in Action 2.1: Circumventing Entry Barriers into the Soft Drink Industry

  Strategy in Action 2.2: Price Wars in the Breakfast Cereal Industry

  Running Case: Wal-Mart's Bargaining Power over Suppliers

  StrategicGroups Within Industries

  Industry Life Cycle Analysis

  Limitations of Models for Industry Analysis

  The Macroenvironment

  Practicing Strategic Management. Small-Group Exercise: Competing with Microsoft; Article File 2; Strategic Management Project: Module 2; Exploring the Web: Visiting Boeing and Airbus; General Task

  Closing Case: Plane Wreck: The Airline Industry in 2001-2004

  II. The Nature of Competitive Advantage

  3. Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability

  Opening Case: Dell's Competitive Advantage

  Competencies, Resources, and Competitive Advantage

  The Value Chain

  Primary Activities

  Strategy in Action 3.1: Value Creation at Pfizer

  Support Activities

  The Building Blocks of Competitive Advantage

  Running Case: Support Activites as a Source of Value Creation at Wal-Mart

  Strategy in Action 3.2: Southwest Airlines' Low-Cost Structure

  Analyzing Competitive Advantage and Profitability

  The Durability of Competitive Advantage

  Avoiding Failure and Sustaining Competitive Advantage

  Strategy in Action 3.3: The Road to Ruin at DEC

  Strategy in Action 3.4: Bill Gates's Lucky Break

  Practicing Strategic Management. Small-Group Exercise: Analyzing Competitive Advantage; Article File 3; Strategic Management Project: Module 3; Exploring the Web: Visiting Johnson & Johnson; General Task

  Closing Case: Google

  4. Building Competitive Advantage Through Functional-Level Strategy

  Opening Case: Verizon Wireless

  Achieving Superior Efficiency

  Strategy in Action 4.1: Too Much Experience at Texas Instruments

  Efficiency, Flexible Manufacturing, and Mass Customization

  Strategy in Action 4.2: Toyota's Lean Production System

  Strategy in Action 4.3: Supply-Chain Management at Office Superstores

  Running Case: Human Resource Strategy and Productivity at Wal-Mart

  Achieving Superior Quality

  Strategy in Action 4.4: General Electric's Six Sigma Quality Improvement Process

  Strategy in Action 4.5: Six Sigma at Mount Carmel Health

  Achieving Superior Innovation

  Achieving Superior Responsiveness to Customers

  Practicing Strategic Management. Small-Group Exercise: Identifying Excellence; Article File 4; Strategic Management Project: Module 4; Exploring the Web: Visiting Applied Materials; General Task

  Closing Case: Redesigning the American Car

  III. Strategies

  5. Building Competitive Advantage Through Business-Level Strategy

  Opening Case: Samsung Changes Its Business Model Again and Again

  Competitive Positioning and the Business Model

  Competitive Positioning: Generic Business-Level Strategy

  Cost Leadership

  Strategy in Action 5.1: Ryanair Takes Control over the Sky in Europe

  Differentiation

  Strategy in Action 5.2: L.L. Bean's New Business Model

  Strategy in Action 5.3: Up, Up, and Away in the Restaurant Business

  The Dynamics of Competitive Positioning

  Strategy in Action 5.4: Toyota's Goal? A High-Value Vehicle to Match Every Customer Need

  Strategy in Action 5.5: Holiday Inns on Six Continents

  Practicing Strategic Management. Small-Group Exercise: Finding a Strategy for a Restaurant; Article File 5; Strategic Management Project: Module 5; Exploring the Web: Visiting the Luxury Car Market; General Task

  Closing Case: How E*TRADE Uses the Internet to Gain a Low-Cost Advantage

  6. Business-Level Strategy and the Industry Environment

  Opening Case: Nike's Winning Ways

  Strategies in Fragmented Industries

  Strategies in Embryonic and Growth Industries

  Strategy in Action 6.1: Clear Channel Creates a National Chain of Local Radio Stations

  Strategy in Action 6.2: How Prodigy Fell into the Chasm

  Navigating Through the Life Cycle to Maturity

  Strategy in Mature Industries

  Strategy in Action 6.3: Toys "R" Us's New Competitors

  Strategy in Action 6.4: Coca-Cola and PepsiCo Go Head-to-Head

  Strategies in Declining Industries

  Strategy in Action 6.5: How to Make Money in the Vacuum Tube Business

  Practicing Strategic Management. Small-Group Exercise: How to Keep the Hot Sauce Hot; Article File 6; Strategic Management Project: Module 6; Exploring the Web: Visiting Wal-Mart; General Task

  Closing Case: Information Technology, the Internet, and Changing Strategies in the Fashion World

  7. Strategy in High-Technology Industries

  Opening Case: The Smart Phone Format War

  Technical Standards and Format Wars

  Strategy in Action 7.1: Where Is the Standard for DVD Recorders?

  Strategy in Action 7.2: How Dolby Became the Standard in Sound Technology

  Strategies for Winning a Format War

  Costs in High-Technology Industries

  Strategy in Action 7.3: Lowering Costs Through Digitalization

  Managing Intellectual Property Rights

  Capturing First-Mover Advantages

  Technological Paradigm Shifts

  Strategy in Action 7.4: Disruptive Technology in Mechanical Excavators

  Practicing Strategic Management. Small-Group Exercise: Burning DVDs; Article File 7; Strategic Management Project: Module 7; Exploring the Web:Visiting Kodak; General Task

  Closing Case: Battling Piracy in the Videogame Market

  8. Strategy in the Global Environment

  Opening Case: The Evolution of Global Strategy at Procter & Gamble

  The Global and National Environments

  The Globalization of Production and Markets

  Strategy in Action 8.1: Finland's Nokia

  Increasing Profitability and Profit Growth Through Global Expansion

  Running Case: Wal-Mart's Global Expansion

  Cost Pressures and Pressures for Local Responsiveness

  Strategy in Action 8.2: MTV Goes Global with a Local Accent

  Choosing a Global Strategy

  Basic Entry Decisions

  Strategy in Action 8.3: Merrill Lynch in Japan

  The Choice of Entry Mode

  Global Strategic Alliances

  Making Strategic Alliances Work

  Practicing Strategic Management. Small-Group Exercise: Developing a Global Strategy; Article File 8; Strategic Management Project: Module 8; Exploring the Web: Visiting IBM; General Task

  Closing Case: Planet Starbucks

  9. Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

  Opening Case: Read All About News Corp

  Corporate-Level Strategy and the Multibusiness Model

  Horizontal Integration: Single-Industry Strategy

  Strategy in Action 9.1: Beating Dell: Why Hewlett-Packard Wanted to Acquire Compaq

  Running Case: Wal-Mart's New Chain of "Neighborhood Markets"

  Strategy in Action 9.2: Horizontal Integration in Health Care

  Vertical Integration: Entering New Industries to Strengthen the "Core" Business Model

  Strategy in Action 9.3: Specialized Assets and Vertical Integration in the Aluminum Industry

  Alternatives to Vertical Integration: Cooperative Relationships

  Strategy in Action 9.4: DaimlerChrysler's U.S. Keiretsu

  Strategic Outsourcing

  Strategy in Action 9.5: Cisco's $2 Billion Blunder

  Practicing Strategic Management. Small-Group Exercise: Comparing Vertical Integration Strategies; Article File 9; Strategic Management Project: Module 9; Exploring the Web: Visiting Motorola; General Task

  Closing Case: The Rise of WorldCom

  10. Corporate-Level Strategy: Formulating and Implementing Related and Unrelated Diversification

  Opening Case: United Technologies Has an "Ace in Its Pocket"

  Expanding Beyond a Single Industry

  Increasing Profitability Through Diversification

  Strategy in Action 10.1: Diversification at 3M: Leveraging Technology

  Two Types of Diversification

  Strategy in Action 10.2: Related Diversification at Intel

  Disadvantages and Limits of Diversification

  Choosing a Strategy

  Entry Strategy: Internal New Ventures

  Entry Strategy: Acquisitions

  Strategy in Action 10.3: Postacquisition Problems at Mellon Bank

  Entry Strategy: Joint Ventures

  Restructuring

  Practicing Strategic Management. Small-Group Exercise: Dun & Bradstreet; Article File 10; Strategic Management Project: Module 10; Exploring the Web: Visiting General Electric; General Task

  Closing Case: Tyco International

  IV. Implementing Strategy

  11. Corporate Performance, Governance, and Business Ethics

  Opening Case: Nike: The Sweatshop Debate

  Stakeholders and Corporate Performance

  Strategy in Action 11.1: Bill Agee at Morrison Knudsen

  Strategy in Action 11.2: Price Fixing at Sotheby's and Christie's

  Agency Theory

  Governance Mechanisms

  Strategy in Action 11.3: Did Computer Associates Inflate Revenues to Enrich Managers?

  Ethics and Strategy

  Running Case: Working Conditions at Wal-Mart

  Practicing Strategic Management. Small-Group Exercise: Evaluating Stakeholder Claims; Article File 11; Strategic Management Project: Module 11; Exploring the Web: Visiting Merck; General Task

  Closing Case: The Collapse of Enron

  12. Implementing Strategy in Companies That Compete in a Single Industry

  Opening Case: Nokia's New Product Structure

  Implementing Strategy Through Organizational Design

  Building Blocks of Organizational Structure

  Strategy in Action 12.1: Union Pacific Decentralizes to Increase Customer Responsiveness

  Strategic Control Systems

  Strategy in Action 12.2: Control at Cypress Semiconductor

  Organizational Culture

  Strategy in Action 12.3: How Ray Kroc Established McDonald's Culture

  Building Distinctive Competencies at the Functional Level

  Running Case: Sam Walton's Approach to Implementing Wal-Mart's Strategy

  Implementing Strategy in a Single Industry

  Strategy in Action 12.4: Restructuring at Lexmark

  Restructuring and Reengineering

  Practicing Strategic Management. Small-Group Exercise: Deciding on an Organizational Structure; Article File 12; Strategic Management Project: Module 12; Exploring the Web: Visiting Home Depot; General Task

  Closing Case: Strategy Implementation at Dell Computer

  13. Implementing Strategy in Companies That Compete Across Industries and Countries

  Opening Case: GM Searches for the Right Global Structure

  Managing Corporate Strategy Through the Multidivisional Structure

  Strategy in Action 13.1: Amoco, ARCO, and Burmah Castrol Become Part of BP

  Implementing Strategy Across Countries

  Strategy in Action 13.2: SAP's ERP Systems

  Strategy in Action 13.3: Using IT to Make Nestlé's Global Structure Work

  Entry Mode and Implementation

  Information Technology, the Internet, and Outsourcing

  Strategy in Action 13.4: Oracle's New Approach to Control

  Strategy in Action 13.5: Li & Fung's Global Supply-Chain Management

  Practicing Strategic Management. Small-Group Exercise: Deciding on an Organizational Structure (Continued); Article File 13; Strategic Management Project: Module 13; Exploring the Web: Visiting Sears; General Task

  Closing Case: The New HP Gets Up to Speed

  V. Cases in Strategic Management

  Introduction: Analyzing a Case Study and Writing a Case Study Analysis

  What Is Case Study Analysis?

  Analyzing a Case Study

  Writing a Case Study Analysis

  The Role of Financial Analysis in Case Study Analysis

  Conclusion

  Section A: Business-Level Cases: Domestic and Global

  1. Brown-Forman Wine Estates

  2. Welch Foods, Inc.

  3. The Global Automobile Industry in 2004

  4. Toyota: Origins, Evolution, and Current Prospects

  5. General Motors in 2005

  6. The Comeback of Caterpillar, 1985–2002

  7. Huawei Technologies Co., Ltd.

  8. The Home Video Game Industry: From Pong to Halo 2

  9. Satellite Radio: XM Versus Sirius

  10. Strategic Inflection: TiVo in 2003

  11. The Music Industry in the Age of the Internet: From Napster to Apple's iPod

  12. Staples

  13. Gap International: A Specialty Apparel Retailer

  14. Charles Schwab

  15. Li & Fung—The Global Value Chain Configurator

  16. Starbucks Corporation: Competing in a Global Market

  17. Kentucky Fried Chicken and the Global Fast-Food Industry

  Section B: Corporate-Level Cases: Domestic and Global

  18. Nucor in 2005

  19. 3M in the New Millennium

  20. The Rise of IBM

  21. The Fall of IBM

  22. The Rebirth of IBM

  23. Hewlett Packard: The Merger with the Compaq Corporation

  24. Hewlett Packard Ousts Carly Fiorina

  25. Michael Eisner's Walt Disney Company: Part One

  26. The Walt Disney Company, 1995–2005: Part Two

  27. First Greyhound, Then Greyhound Dial, Then Dial, Now Henkel-Dial

  28. Hanson PLC (A): The Acquisition Machine

  29. Hanson PLC (B): Breaking It Up

  30. Philips Versus Matsushita: A New Century, a New Round

  31. GE's Two-Decade Transformation: Jack Welsh's Leadership

  Section C: Ethics Cases

  32. Nike's Dispute with the University of Oregon

  33. Etch-A-Sketch Ethics

  34. Western Drug Companies and the AIDS Epidemic in South Africa

Books about economics: Analysis and Use of Financial Statements With CD or Fundamentals of Futures and Options Markets

Introduction to the Law of Real Property: An Historical Background of the Common Law of Real Property and Its Modern Application

Author: Cornelius J Moynihan

This law school casebook presents a simple, concise text, providing information in outline form. An excellent introduction with many references to the historical development of this area of law. Chapters include background, freehold estates, non-freehold estates, seisin and its significance, common law type of future interests, the rule in Shelley's case and the doctrine of worthier title, common law methods of conveyancing, uses and the statute of uses, the effect of the statute of uses, and concurrent ownership.