This exciting new textbook is built on the belief that strategic management principles are more straightforward than they seem. Unlike other textbooks, it does not overcomplicate the discussion with enigmatic layers of theory or irrelevant perspectives from other disciplines. Instead you will find focused, clearly articulated coverage of the key topics of strategic management, encouraging critical reflection and deeper exploration on your own terms. Fully developed to cover the essentials of any strategic management course, this textbook not only creates understanding of the principles of strategy, but shows you how to apply them constructively in the face of real-world practicalities. Throughout the text, these principles are put into context with illustrations and examples drawn from all over the world and from all kinds of organization – from Shell, Airbus and Tesco to small and non-profit enterprises. With an emphasis on topical, distinctive and engaging features, this text offers: • Over 120 short, topical case studies drawn from every type of organization across more than 20 countries, written especially for this book and supplemented with questions and tasks • Worksheets for strategy analysis that can be used to tackle real-world situations • Learning outcomes, key points and summaries to focus your reading on what matters • Chapter-by-chapter exercises for further study and discussion • Suggestions for further reading to deepen your understanding of the theories underpinning the chapters In addition, tutors will benefit from a fully developed companion website offering lecture slides, teaching notes for case studies and assignments, module plans and links to further cases.

Enterprise Resources and Distinctive Capabilities

Enterprise resources and distinctive capabilities

Learning Outcomes

This chapter is designed to enable you to:

  • ① Describe and explain the significance of enterprise resources and capabilities.
  • ② Explain and critique the resource-based approach to strategic management.
  • ③ Apply the V-R-I-O-S framework to specific cases in order to analyse resources and capabilities.
  • ④ Understand the role and nature of value chain analysis.
  • ⑤ Analyse enterprise performance using a range of (a) accounting and (b) non-financial measures.

Case Study: Tesco Plc1

Tesco is a British international grocery and household goods retailer. Jack Cohen founded Tesco in 1919 and opened its first north London shop in 1929. Tesco expanded rapidly after the 1939–45 war with Cohen's famous dictum ‘pile it high and sell it cheap.’ By the 1960s it was one ...

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