Balancing theory with practice, this fully updated fourth edition of John A. Parnell's acclaimed text continues to provide detailed, accessible coverage of the strategic management field. Concise, easy to understand chapters address concepts sequentially, from external and internal analysis to strategy formulation, strategy execution, and strategic control. To help readers build their analytic skills as they master course concepts, Parnell aligns each chapter's key concepts with 25 case analysis steps, rather than relegating case analysis to a chapter at the end of the book. Current examples and high interest real-time cases, largely drawn from The Wall Street Journal and Financial Times, illustrate the key role of strategic management in the United States and around the world. Ideal for the capstone strategic management course, Strategic Management is appropriate for a range of undergraduate and graduate courses.

The Organization: Ethics and Corporate Social Responsibility

The organization: Ethics and corporate social responsibility

Chapter Outline

  • Organizational Direction: Mission, Goals, and Objectives
    • Goals and Stakeholders
  • The Agency Problem
    • Management Serves Its Own Interests
    • Management and Stockholders Share the Same Interests
  • Managerial Ethics
    • Perspectives on Ethics
  • Social Responsibility
    • Corporate Social Responsibility in Practical Terms
    • Sustainable Strategic Management
  • Takeovers
  • Outsourcing and Offshoring
  • Linking Managerial Ethics and Corporate Social Responsibility
  • Summary
  • Key Terms
  • Review Questions and Exercises
  • Practice Quiz
  • Student Study Site
  • Notes

External analysis—including industry competition and the external environment—was addressed in Chapters 2 through 4. The focus in this chapter shifts to internal analysis. This transition from the industry to the organization reflects a change in emphasis from similarities—factors that tend to affect all of an industry's organizations in a like manner—to differences—issues specific to a particular firm. This shift also ...

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