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Corporate Strategy / Edition 2
     

Corporate Strategy / Edition 2

by Roger Bennett
 

ISBN-10: 0273634305

ISBN-13: 9780273634300

Pub. Date: 01/28/1999

Publisher: Pearson Education, Limited

Product Details

ISBN-13:
9780273634300
Publisher:
Pearson Education, Limited
Publication date:
01/28/1999
Series:
Frameworks Series
Edition description:
2ND
Pages:
416
Product dimensions:
6.14(w) x 9.21(h) x (d)

Table of Contents

Preface xiv
Part One BUSINESS STRATEGY
The nature of strategic management
3(15)
Fundamentals
3(1)
Business strategy
3(1)
Levels of strategy
4(1)
Problems of definition and vocabulary
4(2)
Strategy and tactics
6(1)
Why study strategic management?
6(2)
The contentious nature of strategic management
8(1)
Origins and Development of Strategic Management
9(1)
Military parallels
9(2)
The origins of long-term planning
11(1)
Corporate strategy and strategic management
11(3)
Benefits of having strategies
14(1)
The case for not having strategies
14(1)
Evaluation of strategies
15(3)
Objectives
18(12)
Nature of Objectives
18(1)
Nature of objectives
18(1)
Mission Statements
19(1)
What is a mission statement?
19(1)
Why have a mission statement?
19(1)
Formulating a mission statement
20(2)
Contents of a mission statement
22(2)
Problems with mission statements
24(2)
Strategic Objectives
25(1)
Objectives and goals
26(1)
Why have company objectives?
27(1)
Management by Objectives
28(1)
Hierarchy of objectives
28(1)
Nature of MBO
28(2)
Strategy formulation
30(46)
The Process and the Players
30(1)
The strategy formulation process
30(1)
Influences on strategy
30(2)
Stakeholders
32(4)
Incrementalism
36(1)
Strategic vision
37(1)
Role of the board of directors
38(2)
Supervisory boards
40(1)
Worker directors on supervisory boards
40(2)
The chief executive
42(1)
Growth and Acquisition Strategies
42(1)
Growth strategies
42(2)
Reasons for growth
44(1)
Expansion problems
44(2)
Diversification
46(1)
Diversification versus specialisation
46(2)
Acquisition strategy
48(1)
Selecting acquisition targets
49(1)
Valuation of takeover targets
50(1)
Problems with acquisitions
50(2)
Strategies for avoiding takeover
52(2)
Financing acquisitions
54(2)
Synergy
56(1)
Divestment and Turnaround Strategies
57(1)
Divestment
57(1)
Management buy-outs
58(1)
Problems with MBOs
58(1)
Management buy-ins
59(1)
Turnaround strategies
60(2)
Portfolio Analysis
62(1)
Nature of product portfolio analysis
62(2)
Origins of the Boston grid
64(1)
Subsequent developments
65(2)
Advantages and problems of portfolio analysis
67(1)
Competitive Strategy
68(1)
The work of M.E. Porter
68(2)
Criticisms of the theory of competitive strategy
70(1)
Sources of competitive advantage
71(1)
Critical success factors
72(1)
Competitor analysis
73(3)
Forecasting
76(16)
Nature and Purpose of Forecasting
76(1)
Nature of forecasting
76(1)
Justifications for forecasting
77(1)
Long-range forecasts
78(1)
Technological forecasting
78(1)
Sales forecasts
79(3)
Techniques of Forecasting
82(1)
Model building
82(1)
Quantitative and qualitative forecasting techniques
83(1)
The Delphi method
84(1)
Creation of scenarios
85(2)
Brainstorming
87(1)
Morphological analysis
87(1)
Heuristics
88(1)
Limitations of Forecasting
88(1)
Problems with forecasting
88(1)
Evaluation of forecasts
89(3)
Management audits and environmental scanning
92(13)
Management Audits
92(1)
Nature of management auditing
92(1)
The strategy audit
92(2)
Audits of operations
94(1)
SWOT analysis
95(1)
Advantages and problems of SWOT analysis
96(1)
Value chain analysis
97(1)
The seven-S system
98(1)
External Environments
99(1)
The political environments
99(1)
The economic environment
100(1)
Demographic factors
101(1)
The technological environment
101(1)
The social and cultural environment
102(1)
Environmental scanning
103(2)
Change, chaos and the learning organisation
105(22)
The Challenge of Change
105(1)
Nature of change
105(1)
Technological change
106(1)
Other environmental change
107(1)
Planning for change
107(1)
Force field analysis
108(2)
Resistance to change
110(1)
Management systems and resistance to change
110(1)
Overcoming resistance to change
111(1)
Change agents
112(1)
Restructuring Organisations and Processes
113(1)
Re-engineering
113(1)
Empowerment
114(1)
Chaos and the Learning Organisation
115(1)
Chaos
115(1)
The learning organisation
116(2)
Single loop and double loop learning
118(3)
Organisational politics
121(2)
Culture
123(1)
Corporate culture
123(1)
Types of organisational culture
124(1)
Formation of culture
124(1)
Changing the corporate culture
125(2)
Strategy and structure
127(24)
Impact of Strategy on Structure
127(1)
Organisation structure
127(1)
Structure and strategy
128(1)
Purposes of organisation structure
129(1)
Identifying organisational problems
130(1)
The pioneering empirical studies
130(2)
Subsequent research
132(1)
The organisational life cycle
133(2)
Factors Influencing the Design of Organisations
135(1)
Problems of organisational design
135(1)
Advantages and problems of informal organisation
135(1)
Choice of organisation system
136(1)
Designing a structure
137(1)
Issues in Organisational Design
137(1)
How wide should managers' span of control be?
138(1)
Should the principle of 'unity of command' be applied?
139(1)
To what extent should managers specialise in a specific field?
139(1)
Tall versus flat structures
139(1)
Departmentation
140(1)
Approaches to Organisation Structure
141(1)
Line and staff organisation
141(1)
Advantages and disadvantages of line and staff organisation
141(1)
Bureaucratic versus flexible structures
142(1)
Centralisation
143(1)
Decentralisation
144(1)
Divisionalisation
144(1)
Strategic business units
145(2)
Matrix organisation
147(1)
Advantages of matrix approaches
148(1)
Disadvantages of matrix structures
149(2)
Ethical considerations
151(24)
Ethics, Business and Society
151(1)
Business and society
151(1)
Ethics
151(1)
Ethics and strategy
152(1)
Personal professional ethics
153(1)
Resolution of ethical problems
153(1)
Individual preferences
154(1)
Codes of practice
154(2)
Role of professional bodies in regulating members' activities
156(1)
Social Responsibility
157(1)
Nature of corporate social responsibility
157(4)
Managerial responsibility
161(1)
Resolution of social responsibility issues
161(1)
The interventionist position
162(1)
The profit motive
162(1)
Profit and entrepreneurship
163(1)
Advantages to firms of acting in a socially responsible manner
164(1)
Arguments against firms adopting social responsibility approaches
165(1)
Social audits
166(1)
Current Issues in Business Ethics and Social Responsibility
166(1)
Determination of executive pay
166(1)
Bribery
167(1)
Disclosure and confidentiality
168(1)
Insider dealing
168(1)
Consumerism
169(1)
Benefits and problems of consumerism
170(5)
Part Two FUNCTIONAL STRATEGIES
Marketing strategy
175(21)
The Elements of Marketing
175(1)
Nature of marketing
175(1)
The marketing mix
176(1)
Market segmentation
177(1)
Positioning
178(1)
Market leaders and market followers
178(1)
Product Strategies
179(1)
Product choice
179(1)
Product development
180(1)
The product life cycle
181(1)
Objections to the PLC hypothesis
181(1)
Branding strategies
182(1)
Pricing Strategies
183(1)
The options available
183(2)
Distribution Strategies
185(1)
Nature of distribution
185(1)
Choice of method
186(1)
Promotional Strategies
187(1)
Advertising
187(1)
Advertising strategy
187(1)
Advertising objectives
187(1)
Direct marketing
188(1)
Sales promotion
188(1)
Customer-Focused Strategies
189(1)
Pan-company marketing
189(2)
Internal marketing
191(2)
Relationship marketing
193(3)
Financial strategy
196(14)
Fundamentals
196(1)
Nature of financial strategy
196(1)
Capital structure
197(1)
Gearing of the firm
198(1)
Financing the Business
199(1)
Short- and long-term capital
199(1)
Share dilution
200(1)
Obtaining a quotation
201(1)
Share issue
202(2)
Use of venture capital
204(1)
Forward exchange
205(1)
Short- and Long-Termism
206(1)
Short-termism
206(1)
Problems with the Continental approach
207(1)
Prospects for Continental equity financing
208(2)
Human resources strategy
210(22)
The Central Role of HRM
210(1)
Nature of human resources management
210(2)
Devising a human resources strategy
212(1)
Influences on human resources strategy
213(1)
Need for human resources strategies
213(1)
Advantages and problems of human resources strategies
214(2)
The Four Cs Model of Human Resources Management
215(1)
Situational factors
216(2)
Employee Relations Strategies
217(1)
Human resources strategy and employee relations
218(1)
Elements of an employee relations strategy
218(1)
Union recognition strategies
219(1)
Collective bargaining
220(2)
Advantages of single-company decentralised bargaining
222(1)
Disadvantages of single-company decentralised bargaining
223(1)
Use of decentralised bargaining
223(1)
Single table bargaining
224(1)
Downsizing
225(1)
Nature of downsizing
225(2)
Redundancy
227(1)
Recent Developments in Human Resources Management
228(1)
Trends in HRM
228(1)
Developments in employee relations
229(1)
Management Development
229(1)
Motherhood versus honeycomb approaches
229(1)
Nature of management development
230(2)
Information technology strategy
232(20)
The Business Advantages of it Strategy
232(1)
Information technology in business
232(1)
Integration of data
233(1)
Improved quality of information
233(1)
Need for an IT strategy
233(2)
IT strategy and corporate strategy
235(1)
Devising an IT strategy
236(1)
Purposes of IT strategy
237(1)
Problems with IT strategies
238(1)
Practical problems
238(1)
Human Resources Aspects
239(1)
IT and human resources management
239(1)
Possible HRM problems
240(1)
End-user computing
240(2)
Selection of Systems
242(1)
Selection procedures
242(3)
Organisational Aspects
245(1)
Implications for organisational structure
245(1)
Organisation of IT staff
245(4)
Strategic Management and The Management Information System
249(1)
Functions of a management information system
249(1)
Design of an MIS
250(2)
Manufacturing strategy
252(28)
Nature of manufacturing strategy
252(1)
Production
253(1)
Role of the production department
253(1)
Technology
254(1)
Production methods
255(1)
Production planning
256(1)
Standardisation
256(1)
Flexible Manufacturing
257(1)
Relevance of the focused factory
257(1)
Flexible manufacturing
258(1)
Implications of flexible manufacturing
258(1)
Operational flexibility
259(2)
Effects on employees
261(1)
Effects on management
262(1)
Computerisation
262(1)
Manufacturing and other business functions
263(1)
Time-based competition
264(1)
Research and Technical Development
265(1)
Nature of research and development
265(1)
R & D strategy
266(1)
Costs and benefits of R & D
267(1)
Design
268(1)
Procurement
269(1)
The purchasing department
269(1)
Make or buy decisions
270(1)
Factory Location
271(1)
Selection of a location
271(1)
Leasing and buying
272(1)
Contract Manufacturing, Licensing and the Protection of Intellectual Property
273(1)
Contract manufacturing
273(1)
Protection of intellectual property
273(1)
Advantages and disadvantages of licensing
274(1)
Total Quality Management
275(1)
Quality management
275(1)
Quality assurance
275(2)
Measuring service quality
277(3)
Environmental strategy
280(17)
The Economic and Social Costs
280(1)
The environmental issue
280(1)
Strategic responses
281(4)
The Valdez principles
285(1)
Waste management strategies
286(1)
Assessing Company Policies
287(1)
Environmental impact assessment
287(2)
Environmental policy statements
289(1)
Green Marketing
290(1)
Nature of green marketing
290(1)
EU Interventions
291(1)
Environment policy of the European Union
291(2)
The EU eco-management and auditing scheme
293(4)
Strategies for the internationalisation of operations
297(28)
Choices and Benefits
297(1)
Reasons for internationalisation
297(1)
Production standardisation versus product differentiation
298(1)
International business
299(2)
Organisation of multinational corporations
301(2)
MNC staffing policies
303(1)
Transfer pricing
303(2)
Market Entry
305(1)
Exporting
305(1)
Advantages and disadvantages of exporting
306(2)
Use of the Internet
308(2)
Use of intermediaries
310(1)
An in-house export department
310(1)
Agents and distributors
311(1)
Licensing and franchising
311(2)
Branches and subsidiaries
313(1)
Joint ventures
314(2)
Criteria for selecting JV partners
316(1)
Direct foreign investment
317(2)
Choice of market entry method
319(6)
Part Three PLANNING AND CONTROL
Corporate planning
325(17)
Planning and Strategy
325(1)
Nature of corporate planning
325(1)
Strategic and operational plans
326(2)
Reasons for planning
328(2)
Advantages of planning
330(1)
Disadvantages and problems of planning
331(1)
The planning process
332(1)
Planning principles
332(1)
Planning Systems
333(1)
Types of planning system
333(1)
Formal versus informal planning procedures
334(2)
Role of the planning department
336(1)
Planning committees
337(1)
Contingency planning
338(2)
The final company plan
340(2)
Techniques of planning
342(20)
Measures of Company Potential
342(1)
Gap analysis
342(1)
Benchmarking
343(1)
Measures of Company Performance
344(1)
Performance indicators
344(1)
Choice of performance indicators
345(1)
Return on capital employed
345(1)
Price/earnings ratio
346(1)
Other performance indices
346(1)
Network Methods
347(1)
Network analysis
347(1)
Critical path analysis and project evaluation review technique
348(1)
An example of CPA
348(1)
Resource levelling
349(1)
Crash-cost CPA
350(1)
Uses and benefits of network analysis
350(1)
Other Practical Planning Methods
351(1)
APACS
351(1)
POISE
351(1)
Quantitative Planning Models
352(1)
The quantitative approach
352(1)
Uncertainty
353(1)
Risk and uncertainty
353(1)
Expected values and the maximin rule
354(1)
Dealing with uncertainty
354(1)
Contingency planning
355(1)
Top-Down Versus Bottom-Up Planning
356(1)
Top-down planning
356(1)
Bottom-up planning
356(2)
Evaluating the planning process
358(2)
Failure of planning processes
360(2)
Operational planning
362(19)
Need for operational planning
362(1)
Production and Operations Management
362(1)
Production planning
362(2)
Purpose of production planning
364(1)
The production planning process
364(1)
Scheduling
365(1)
Capacity planning
366(1)
Optimised production technology
367(1)
Materials requirements planning
368(1)
Just-in-time procedures
368(1)
Problems in production planning
369(1)
Financial Planning
370(1)
Nature of financial planning
370(1)
The cash flow forecast
371(1)
Human Resources Planning
371(1)
Nature of human resources planning
371(2)
Need for human resources planning
373(1)
Contents of the human resources plan
374(1)
Marketing Plans
375(1)
The marketing audit
375(1)
The marketing plan
376(2)
Deployment of salespeople
378(1)
Media planning
378(1)
Advertising budgets
378(3)
Management control
381(15)
Scope and Methods
381(1)
The control function
381(1)
Control systems
381(1)
Control procedures
382(1)
Principles of control
383(1)
Control by exception
384(1)
Feedforward and feedback
385(1)
Ratio analysis
385(1)
Co-ordination
386(1)
Controlling subsidiary operations
386(1)
Appraisal of foreign subsidiaries
387(1)
Appraising divisions
388(1)
Budgeting
389(1)
Nature of budgets
389(1)
Purposes of budgeting
389(1)
Problems with budgeting
390(2)
The budgeting process
392(1)
Allocation methods
393(1)
Limiting factors
394(1)
Budget reports
395(1)
References and bibliography 396(3)
Index 399

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