Test Bank for Strategic Analysis and Action 8th Edition by Crossan

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Product Details:

• ISBN-10 ‏ : ‎ 0132158108
• ISBN-13 ‏ : ‎ 978-0132158107
• Author: Crossan

Crossan is a concise, practical guide for strategic management courses. The text provides an organized set of concept and procedures for analyzing and acting on strategic problems.

Table of contents

Contents Preface ix Acknowledgements Introduction xii

x

1 A General Management Perspective The Job of the General Manager 1 Assessing Performance 3 Using the Performance Matrix

1

5

Setting Direction: Vision, Mission, Values Guiding Philosophy 8 Tangible Image 10 Reasonable Expectations of a Vision Process Process Concerns 12 A Final Vision Check 12

6

10

From Vision, Mission, and Values to Strategy 13 Strategic Analysis, Planning, and Business Plans 14 Summary 14 Notes 14 Additional Readings

15

2 Strategy 17 The Essentials of the Strategy Model 17 The Role of Strategy 18 Strategy in a Single Business 19 Goals 20 Goal Structures 21 Describing Goal Structures 22 Goals and Competitive Advantage

Product Market Focus

23

23

Describing Product Market Focus 24 Product Market Focus and Competitive Advantage

Value Proposition

26

26

Describing Value Propositions 27 The Value Proposition and Competitive Advantage

Core Activities

29

29

Describing Core Activities 30 Core Activities and Competitive Advantage

32

Putting the Strategy Components Together

32 Contents

iii

Other Strategy Perspectives Corporate Strategy 37

35

Describing Corporate Strategy 39 Corporate Strategy and Competitive Advantage 40 Corporate Strategy and Corporate General Management Summary 42 Notes 43 Additional Readings

41

44

3 The Diamond-E Framework 46 Introducing the Diamond-E Framework 46 The Criterion of Consistency 46 Consistency, Opportunity, and Risk 48 Strategy, Strategic Proposals, and Strategic Analysis

Using the Diamond-E Framework

The Strategy-Environment Linkage 51 The Strategy-Resources Linkage 51 The Strategy-Management Preferences Linkage The Strategy-Organization Linkage 52

Strategic Tension 53 The Process of Strategic Analysis

50

50 51

54

Step 1: Base Case Analysis 55 Step 2: Strategy Formulation and Testing 56 Step 3: Decision and Execution 57 Summary 57 Notes 58

4 Tools for Environment Analysis 59 Porter’s Five Forces Model 60 Value Chain 65 Cooperation and Competition: Game Theory 67 Math for Strategists 69 Pest 70 Scenario Planning 71 New Economy Models 71 Blue Ocean Strategy 73 Global Industry Models 75 Stakeholder Analysis 75 Summary 79 Notes 80

5 Environment Analysis: The Strategy-Environment Linkage Conducting Environment Analysis 83 Step 1: Focus the Environment Analysis 83 iv

Contents

83

Performance Assessment as a Focusing Tool 85 The Strategic Proposal as a Focusing Tool 86 Jantzen Technologies: A Case Study 86 The Profit Model as a Focusing Tool 88 Defining the Right Time Horizon 90 Minimizing the Risks of Focus 91

Step 2: Test the Strategy-Environment Linkage Demand 94 Supply 96 Competition 98 Government 100 First Check for Fit or Recycle

103

Step 3: Forecast Performance 103 Step 4: Rank Against Other Proposals Summary 105 Notes 105 Additional Readings

93

104

106

6 Resource Analysis: The Strategy-Resource Linkage 107 The Nature of Resources 107 Other Characterizations of Resources 109 Resources and Competitive Advantage 111 The Dual Role of Resources 114 The Constraining Role of Resources 114 The Driving Role of Resources 114

Resource Analysis 115 Step 1: Identify Resource Requirements 116 Step 2: Test the Strategy-Resource Linkage 118 Recycling

120

Step 3: Develop Gap-Closing Analysis 121 Step 4: Move to the Next Step in the Diamond-E Analysis Dynamic Resources 123 Resources and the Scope of the Firm 124 Summary 124 Notes 124 Additional Readings

123

125

7 Management Preference Analysis: The Strategy-Management Preference Linkage 127 Value Creation, Capture, and Distribution 127 Reconciling Stakeholder Interests 128 Corporate Governance 129 Corporate Social Responsibility 132

Contents

v

Management as a Key Stakeholder

133

Inconsistency Between Proposed and Preferred Strategy 134 Inconsistency Between Preferred Strategy and Other Realities

134

The Role of Management Preferences 135 The Roots of Strategic Preference 136 Basic Needs 136 Beliefs 137 Job Context 138 Frozen Preference 140 Implications 140

Matching Preferences and Strategy 141 Step 1: Identify the Required Management Preferences Step 2: Test the Strategy-Preferences Linkage 143 Step 3: Develop Gap-Closing Analysis 144

143

Framing the Gap-Closing Issues—Individual Managers 144 Gap-Closing Actions and Risks—Individual Managers 146 Framing the Gap-Closing Issues—Groups of Managers 147

Management Preferences and Competitive Analysis

149

Summary 150 Notes 150

8 Strategy and Organization 152 Organizational Capabilities 154 Behaviour 157 Culture 158 Step 1: Identify Required Organizational Capabilities 160 Step 2: Identify Capability Gaps 162 Step 3: Develop New Organizational Capabilities 163 Organization Structure 163 Functional Structure 164 Product Organization 166 Geographic Structure 167 Matrix 168 Cellular 169 Strategic Alliances 170 Choosing a Structure 171

Management Processes

172

Decision-Making Processes 173 Operating Processes 174 Performance Assessment and Reward Processes

Leadership Behaviour

176

Do You Have the Right Leaders?

178

Using All Three Leverage Points Step 4: Assess Feasibility 179 vi

Contents

178

175

Summary 181 Notes 181

9 Strategic Choice 184 Strategy as a Dynamic Process 184 Setting Direction 184 Focusing Effort 185 Defining the Organization 185 Providing Consistency 185 Strategy as Planning 186 Strategy as Learning 190 Cognitive Biases 191 Organizational Learning and Strategic Renewal 194 Reconciling the Tensions in Strategic Renewal 195

Leadership for Strategic Renewal 198 The Practical Matter of Strategic Choice at a Point of Time Summary 201 Notes 201 Additional Readings

199

203

10 Implementing Strategy: Change Agenda and Starting Conditions 205 Implementing Strategic Change 205 The Change Plan 207 Change Agenda 207 Analysis of Starting Conditions 208 Urgency for Action: The Crisis Curve 208 Crisis Change 210 Anticipatory Change 212 Reactive Change 214

Organizational Readiness for Change

216

Target Group Identification 216 Target Group Readiness 217

Personal Readiness for Change The View From Below 221 Summary 222 Notes 222 Additional Readings

219

223

11 Implementing Strategy: Guidelines and Action Establishing Guidelines for Action 224 Priority Objectives 224 Behavioural Versus Non-Behavioural Objectives

Action Priorities

224

224

226 Contents

vii

Priority Targets 226 Picking Starting Points for Action Focus Versus Scope 229

Leadership Style 230 Directive Leadership 231 The Participative Style 232

Pace

233

Implementing Pace Decisions

234

Generic Guidelines 234 Crisis Change 235 Anticipatory Change 236 Reactive Change 239

Creating an Action Plan 241 Monitoring Performance 242 Summary 243 Notes 243 Additional Readings Index

viii

246

Contents

245

228

Preface This book was written to complement case analysis in university and company strategic management courses. It takes the point of view of the general manager and presents a consistent, operational approach to analyzing and acting on strategic problems. Our intent is to introduce you to the breadth of material in strategic management, yet enable you to apply it in a decision-making process. In doing so, we venture beyond current strategic management texts to help reconcile the diversity, breadth and complexity of the field. As we point out in Chapter 1, general managers run businesses and other types of organizations, and, while their responsibility may be for a small business, a not-for-profit, public sector, or large corporation, they face the common challenge of guiding their organizations to success in competitive environments. The aim of this book is to develop the basic general management skills required to understand a business organization, sense the opportunities and problems that it faces, deal effectively with strategic decisions, and to set in place the people, structures, and operations to implement those decisions. In preparing the text materials, we have concentrated on analytic concepts that contribute to a practical understanding of specific strategic issues and to the translation of this understanding into personal action. Further, we have linked these discrete concepts into a comprehensive framework—the Diamond-E framework—to ensure that the whole of the situation facing the business is appreciated and that priorities are set for both analysis and action. We have made two assumptions about our readers. First, we have assumed that they are engaged in trying to solve strategic problems—as students of business doing case analyses or field projects, or as managers on the job. Application and practice are the prime vehicles for understanding the power and limitations of the concepts in this text and, more importantly, for developing general management skills. Second, we have assumed that our readers possess a basic understanding of the background disciplines and functional areas of business, such as the financial analysis and marketing skills provided in early courses in university business programs.

NEW TO THIS EDITION The first edition of this book was published in 1986. In revising it for this eighth edition, we have updated both the examples and recent theory that support the practical and userfriendly aspects of the seventh edition. We have made some formatting changes to make the book more user-friendly for readers. Many of the changes in theory and practice in recent years have been towards fragmentation of concepts and pitting one approach against another. We have found this to be counter-productive. For example, emphasizing a dynamic approach to strategy does not

Preface

ix

negate the importance of understanding strategic positioning at a point in time. Thus, in this edition, we have tried to make connections between concepts that have become increasingly fragmented or polarized. Throughout the many editions our consistent aim has been to increase the relevance of the materials for solving general management problems in the field or in the form of written cases.

ACKNOWLEDGEMENTS We have been fortunate to work for many years in institutions that value good teaching and professional relevance. These cultural attributes have been developed and reinforced by many people. In all editions we have benefited from the new ideas and continuing support of our colleagues in the university and in the private sector. We would particularly like to acknowledge our immediate colleagues at the Richard Ivey School of Business and at IMD who, over the years, have included professors Jay Anand, Tima Bansal, Paul Beamish, Oana Branzei, Laurence Capron, the late Harold Crookell, Jim Dowd, Tony Frost, Michael Geringer, Louis Hébert, Gerald Higgins, Amy Hillman, Ariff Kachra, Mike Levenhagen, Peter Lorange, Pat MacDonald, Cara Maurer, Alan Morrison, Eric Morse, Charlene Nicholls-Nixon, Tom Poynter, Glenn Rowe, Paul Strebel, Don Thain, Stewart Thornhill, Rod White, Mark Zbaracki and Charlene Zietsma. We are also extremely grateful to the following reviewers for their comments and suggestions: Gary J. Bissonette, Queen’s University; Ray Chateau, Humber College; Elizabeth Croft, University of Northern British Columbia; P. Fitzgerald, Saint Mary’s University; Terry Power, Royal Roads University; Jianyun Tang, Memorial University of Newfoundland. We are indebted to our publisher, Pearson Canada, and in particular Madhu Ranadive and Nick Durie for their help in producing and promoting this book. At Ivey we are obliged to Manu Mahbubani for his research support. Finally, we extend a big thank you to Michele Foster, Courtney Hambides, and Penni Pring for their diligent and industrious effort in bringing everything together. Mary M. Crossan, Joseph N. Fry, Michael J. Rouse London, Ontario J. Peter Killing Lausanne, Switzerland

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