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 1: Fundamentals of Strategic Management
Fundamentals of Strategic Management
What is Strategic Management?
- Intended and Realized Strategies
- Scientific and Artistic Perspectives on Strategic Management
- Influence on Strategic Management
- Corporate Governance and Boards of Directors
- Strategic Decisions
- The Global Imperative
- Key Terms
- Review Questions and Exercises
- Practice Quiz
- Student Study Site
What do Circuit City, Washington Mutual, Saab, Blockbuster, and Borders have in common? All of these recognized companies filed for bankruptcy during the past several years. While the situation surrounding each firm is different, all of them failed to meet various strategic challenges. Put another way, organizations typically do not succeed or fail randomly. Some plan, prepare, and execute more effectively than others.
Today's business world is global, Internet-driven, and obsessed with speed. The challenges it creates for strategic managers are often complex, ambiguous, and unstructured. ...