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.

Business Unit strategies

Business unit strategies

Chapter Outline

  • Porter's Generic Strategies
    • Low-Cost (Cost Leadership) Strategy (Without Focus)
    • Focus-Low-Cost Strategy
    • Differentiation Strategy (Without Focus)
    • Focus-Differentiation Strategy
    • Low-Cost-Differentiation Strategy
    • Focus-Low-Cost-Differentiation Strategy
    • Multiple Strategies
  • The Miles and Snow Strategy Framework
  • Business Size, Strategy, and Performance
  • Assessing Strategies
  • Global Concerns
  • Summary
  • Key Terms
  • Review Questions and Exercises
  • Practice Quiz
  • Student Study Site
  • Notes

After a firm's top managers have settled on a corporate-level strategy, focus shifts to how the firm's business unit(s) should compete. A business unit is an organizational entity with its own unique mission, set of competitors, and industry. While the corporate strategy concerns the basic thrust of the firm—where top managers would like to lead the firm—the business strategy, or competitive strategy, addresses the competitive aspect— who the business should serve, what needs should be satisfied, and how core competencies can be developed ...

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