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• Cover
• Welcome to Explor
• Title
• Copyright
• Brief contents
• Contents
• Illustrations and Thinking Differently
• List of figures
• List of tables
• Preface
• Exploring Strategy features
• Exploring Strategy Online
• Digital Courseware
• 1 Introducing strategy
• 1.1 Introduction
• 1.1.1 Why ‘ exploring Strategy’?
• 1.2 What is strategy?
• 1.2.1 Defining strategy
• 1.2.2 The purpose of strategy: mission, vision, values and objectives
• 1.2.3 Strategy statements
• 1.2.4 Levels of strategy
• 1.3 The Exploring Strategy Framework
• 1.3.1 Strategic position
• 1.3.2 Strategic choices
• 1.3.3 Strategy in action
• 1.4 Working with strategy
• 1.5 Studying strategy
• 1.6 Exploring strategy further
• 1.6.1 Exploring strategy in different contexts
• 1.6.2 Exploring strategy through different ‘strategy lenses’
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: The rise of a unicorn: Airbnb
• Part I The strategic position
• Introduction to Part I
• 2 Macro-environment analysis
• 2.1 Introduction
• 2.2 PESTEL analysis
• 2.2.1 Politics
• 2.2.2 Economics
• 2.2.3 Social
• 2.2.4 Technology
• 2.2.5 Ecological
• 2.2.6 Legal
• 2.2.7 Key drivers for change
• 2.3 Forecasting
• 2.3.1 Forecast approaches
• 2.3.2 Directions of change
• 2.4 Scenario analysis
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Alibaba: the Yangtze River Crocodile
• 3 Industry and sector analysis
• 3.1 Introduction
• 3.2 Industry analysis
• 3.2.1 Defining the industry
• 3.2.2 The competitive forces
• 3.2.3 Complementors and network effects
• 3.2.4 Implications of the Competitive Five Forces
• 3.3 Industry types and dynamics
• 3.3.1 Industry types
• 3.3.2 Industry structure dynamics
• 3.4 Competitors and markets
• 3.4.1 Strategic groups
• 3.4.2 Market segments
• 3.4.3 Critical success factors and ‘Blue Oceans’
• 3.5 Opportunities and threats
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Game-changing forces and the global advertising industry
• 4 Resources and capabilities analysis
• 4.1 Introduction
• 4.2 Foundations of resources and capabilities
• 4.2.1 Resources and capabilities
• 4.2.2 Threshold and distinctive resources and capabilities
• 4.3 Distinctive resources and capabilities as a basis of competitive advantage
• 4.3.1 V – value of resources and capabilities
• 4.3.2 R – rarity
• 4.3.3 I – inimitability
• 4.3.4 O – organisational support
• 4.4 Analysing resources and capabilities
• 4.4.1 VRIO analysis
• 4.4.2 The value chain and value system
• 4.4.3 Activity systems
• 4.4.4 Benchmarking
• 4.4.5 SWOT
• 4.5 Dynamic capabilities
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Rocket Internet – will the copycat be imitated?
• 5 Stakeholders and governance
• 5.1 Introduction
• 5.2 Stakeholders
• 5.2.1 Stakeholder groups
• 5.2.2 Stakeholder mapping
• 5.2.3 Owners
• 5.3 Corporate governance
• 5.3.1 The governance chain
• 5.3.2 Different governance models
• 5.3.3 How boards of directors influence strategy
• 5.4 Social responsibility
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Petrobras and the Lizards
• 6 History and culture
• 6.1 Introduction
• 6.2 History and strategy
• 6.2.1 Historical relationships
• 6.2.2 Historical analysis
• 6.3 Culture and strategy
• 6.3.1 Geographically based cultures
• 6.3.2 Organisational fields
• 6.3.3 Organisational culture
• 6.3.4 Culture’s influence on strategy
• 6.3.5 Analysing culture: the cultural web
• 6.3.6 Undertaking cultural analysis
• 6.4 Strategic drift
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Uber and the ubermensch
• Commentary on Part I The strategy lenses
• Case example: How does Facebook make strategy?
• Part II Strategic choices
• Introduction to Part II
• 7 Business strategy and models
• 7.1 Introduction
• 7.2 Generic competitive strategies
• 7.2.1 Cost leadership strategy
• 7.2.2 Differentiation strategy
• 7.2.3 Focus strategy
• 7.2.4 Hybrid strategy
• 7.2.5 The Strategy Clock
• 7.3 Interactive strategies
• 7.3.1 Interactive price and quality strategies
• 7.3.2 Game theory
• 7.4 Business models
• 7.4.1 Value creation, configuration and capture
• 7.4.2 Business model patterns
• 7.4.3 Multi-sided platforms
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: The IKEA approach
• 8 Corporate strategy
• 8.1 Introduction
• 8.2 Strategy directions
• 8.2.1 Market penetration
• 8.2.2 Product and service development
• 8.2.3 Market development
• 8.2.4 Unrelated diversification
• 8.3 Diversification drivers
• 8.4 Diversification and performance
• 8.5 Vertical integration
• 8.5.1 Forward and backward integration
• 8.5.2 To integrate or to outsource?
• 8.5.3 Divestment
• 8.6 Value creation and the corporate parent
• 8.6.1 Value-adding and value-destroying activities of corporate parents
• 8.6.2 The portfolio manager
• 8.6.3 The synergy manager
• 8.6.4 The parental developer
• 8.7 Portfolio matrices
• 8.7.1 The BCG (or growth/share) matrix
• 8.7.2 The directional policy (GE–McKinsey) matrix
• 8.7.3 The parenting matrix
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Grand strategies in vision
• 9 International strategy
• 9.1 Introduction
• 9.2 Internationalisation drivers
• 9.3 Geographic sources of advantage
• 9.3.1 Locational advantage: Porter’s diamond
• 9.3.2 The international value system
• 9.4 International strategies
• 9.5 Market selection and entry
• 9.5.1 Country and market characteristics
• 9.5.2 Competitive characteristics
• 9.5.3 Entry mode strategies
• 9.6 Subsidiary roles in an international portfolio
• 9.7 Internationalisation and performance
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: China goes to Hollywood: Wanda’s move into the US movie industry
• 10 Entrepreneurship and innovation
• 10.1 Introduction
• 10.2 Entrepreneurship
• 10.2.1 Opportunity recognition
• 10.2.2 Steps in the entrepreneurial process
• 10.2.3 Stages of entrepreneurial growth
• 10.2.4 Social entrepreneurship
• 10.3 Innovation dilemmas
• 10.3.1 Technology push or market pull
• 10.3.2 Product or process innovation
• 10.3.3 Open or closed innovation
• 10.4 Innovation diffusion
• 10.4.1 The pace of diffusion
• 10.4.2 The diffusion S-curve
• 10.5 Innovators and imitators
• 10.5.1 First-mover advantages and disadvantages
• 10.5.2 The incumbent’s response
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Rovio’s Angry Birds: The evolution of a global entertainment  empire
• 11 Mergers, acquisitions and alliances
• 11.1 Introduction
• 11.2 Organic development
• 11.3 Mergers and acquisitions
• 11.3.1 Defining M&A
• 11.3.2 M&A contexts
• 11.3.3 M&A strategy
• 11.3.4 M&A processes
• 11.3.5 M&A strategy over time
• 11.4 Strategic alliances
• 11.4.1 Types of strategic alliance
• 11.4.2 Motives for alliances
• 11.4.3 Strategic alliance processes
• 11.5 Comparing acquisitions, alliances and organic development
• 11.5.1 Buy, ally or DIY?
• 11.5.2 Key success factors
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Future-proofing business? Sainsbury’s acquires Argos
• Commentary on Part II Strategic choices
• Part III Strategy in action
• Introduction to Part III
• 12 Evaluating strategies
• 12.1 Introduction
• 12.2 Organisational performance
• 12.2.1 Performance measures
• 12.2.2 Performance comparisons
• 12.2.3 Gap analysis
• 12.2.4 Complexities of performance analysis
• 12.3 Suitability
• 12.3.1 Ranking and screening
• 12.3.2 Decision trees
• 12.4 Acceptability
• 12.4.1 Return
• 12.4.2 Risk
• 12.4.3 Reaction of stakeholders
• 12.5 Feasibility
• 12.5.1 Financial feasibility
• 12.5.2 People and skills
• 12.6 Evaluation
• 12.6.1 Three qualifications
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: ITV: DIY, buy or ally?
• 13 Strategy development processes
• 13.1 Introduction
• 13.2 Deliberate strategy development
• 13.2.1 The role of the strategic leader
• 13.2.2 Strategic planning systems
• 13.2.3 Externally imposed strategy
• 13.3 Emergent strategy development
• 13.3.1 Logical incrementalism
• 13.3.2 Strategy as the outcome of political processes
• 13.3.3 Strategy as the result of organisational structures and systems
• 13.4 Implications for managing strategy development
• 13.4.1 Strategy development in different contexts
• 13.4.2 Managing deliberate and emergent strategy
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Alphabet: who and what drives strategy
• 14 Organising and strategy
• 14.1 Introduction
• 14.2 Structural types
• 14.2.1 The functional structure
• 14.2.2 The divisional structure
• 14.2.3 The matrix structure
• 14.2.4 Multinational/transnational structures
• 14.2.5 Project-based structures
• 14.2.6 Strategy and structure fit
• 14.3 Systems
• 14.3.1 Planning systems
• 14.3.2 Cultural systems
• 14.3.3 Performance targeting systems
• 14.3.4 Market systems
• 14.4 Agility and resilience
• 14.5 Configurations
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Tencent: Third Time Lucky?
• 15 Leadership and strategic change
• 15.1 Introduction
• 15.2 Leadership and strategic change
• 15.2.1 Strategic leadership roles
• 15.2.2 Leadership styles
• 15.3 Analysing the change context
• 15.3.1 The change kaleidoscope
• 15.3.2 Forcefield analysis
• 15.4 Types of strategic change
• 15.4.1 Adaptation
• 15.4.2 Reconstruction (turnaround)
• 15.4.3 Revolution
• 15.4.4 Evolution
• 15.5 Levers for strategic change
• 15.5.1 A compelling case for change
• 15.5.2 Challenging the taken for granted
• 15.5.3 Changing operational processes and routines
• 15.5.4 Symbolic management
• 15.5.5 Power and political systems
• 15.5.6 Timing
• 15.5.7 Visible short-term wins
• 15.6 Problems of formal change programmes
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Can the Saturday boy change Marks & Spencer?
• 16 The practice of strategy
• 16.1 Introduction
• 16.2 The strategists
• 16.2.1 Top managers and directors
• 16.2.2 Strategic planners
• 16.2.3 Middle managers
• 16.2.4 Strategy consultants
• 16.2.5 Who to involve in strategy development?
• 16.3 Strategising
• 16.3.1 Strategy analysis
• 16.3.2 Strategic issue-selling
• 16.3.3 Strategic decision making
• 16.3.4 Communicating strategy
• 16.4 Strategy methodologies
• 16.4.1 Strategy workshops
• 16.4.2 Strategy projects
• 16.4.3 Hypothesis testing
• 16.4.4 Business cases and strategic plans
• Summary
• Work assignments
• Recommended key readings
• References
• Case example: Participative strategy process in the city of Vaasa
• Commentary on Part III Strategy in action
• Glossary
• Name index
• General index
• Acknowledgements