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.

Corporate-Level Strategies

Corporate-level strategies

Chapter Outline

  • The Corporate Profile
  • Strategic Alternatives at the Corporate Level
  • Growth Strategies
    • Horizontal (Related) Integration
    • Horizontal (Related) Diversification
    • Conglomerate (Unrelated) Diversification
    • Vertical Integration
    • Strategic Alliances (Partnerships)
  • Stability Strategy
  • Retrenchment Strategies
    • Turnaround
    • Divestment
    • Liquidation
  • Boston Consulting Group Growth-Share Matrix
  • Global Corporate Strategy
    • Wal-Mart Abroad
    • Global Orientation Assessment
  • Summary
  • Key Terms
  • Review Questions and Exercises
  • Practice Quiz
  • Student Study Site
  • Notes

Strategies exist at three levels in any organization: (1) the corporate or firm level, (2) the business unit or competitive level, and (3) the functional or tactical level. This chapter focuses on the corporate-level strategy, or the strategy top management formulates for the overall corporation. Corporate-level strategy concerns precede the competitive and tactical issues related to business and functional strategies. We will see in subsequent chapters, however, that all three levels are linked and should be aligned.

The Corporate Profile

The first step ...

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