Summary
Contents
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.
Chapter 8: Functional Strategies
Functional Strategies
Chapter Outline
- Marketing
- Pricing Strategies
- Promotion Strategies
- Product/Service Strategies
- Place (Distribution) Strategies
- Finance
- Production
- Quality Considerations
- Research and Development
- Purchasing
- Human Resources
- Human Capital and Knowledge Management
- Knowledge and Competitive Advantage
- Information Systems Management
- Functional Strategies and Industry Life Cycle
- Summary
- Key Terms
- Review Questions and Exercises
- Practice Quiz
- Student Study Site
- Notes
Corporate- and business-level strategies can only be successful if they are supported by strategies at the business unit's functional levels, such as marketing, finance, production, purchasing, human resources (HR), and information systems (IS). Each functional area should integrate its activities with those of the other functional departments because a change in one department can affect both the manner in which other departments operate and the overall performance of the business unit. The extent to which all of the business unit's functional strategies integrate can determine the ...
