Michael A. Hitt

Rudi K. F. Bresser

Robert D. Nixon

Dieter Heuskel

The end of the nineteenth century saw the construction of the vertically integrated value chains that came to define modern business. The end of the twentieth century witnessed their deconstruction. In industries across the economy, markets are intruding on the web of proprietary arrangements that have held these chains together. As they do, the boundaries defining business, companies and industries are coming under attack - radically transforming the nature of competition. Powerful forces, such as globalization and deregulation, are undermining the logic and practice of traditional vertical integration, but the most powerful - partly because it acts as catalyst and an accelerator - is a revolution in the economics of information. This shift in information economics is giving birth to a myriad of new strategic options The consequences of deconstruction for the strategic management of the firm - as well as for the firm itself - are dramatic. Deconstruction forces a fundamental rethinking of some of the basic principles of strategy which will impact on the concepts of the portfolio, forms of organizational structure, styles of leadership, mechanisms for acquiring and managing knowledge and approaches to uncertainty and risk. This, the latest volume in the Strategic Management Series, explores the implications of the value chain deconstruction for strategy, the changes in strategic thinking and the action necessary to cope with the challenges and opportunities. Bringing together contributions from key figures in the field of strategy in both practice and academia, this book, as with other books in the series, addresses the ideas and issues at the forefront of strategic management theory and practice.

Winning Strategies in a Deconstructing World

R. Dennis Middlemist

Applied Concepts

Organizational Behavior

Mike Wright

Leonard Bierman

Christina E. Shalley

Susan E. Jackson

Salvador Carmona

Many strategies fail not because they are improperly formulated but because they are poorly implemented. The Oxford Handbook of Strategy Implementation examines the crucial role of implementation in how business and managerial strategies produce returns. In this wide-ranging collection of essays, leading scholars address governance, resources, human capital, and accounting-based control systems, advancing our understanding of strategy implementation and identifying opportunities for future research on this important process.

The Oxford Handbook of Strategy Implementation

Ken G. Smith

In Great Minds In Management Ken G. Smith and Michael A. Hitt have brought together some of the most influential and original thinkers in management. Their contributions to this volume not only outline their landmark contributions to management theory, but also reflect on the process of theory development, presenting their own personal accounts of the gestation of these theories. The result is not only an ambitious and original panorama of the key ideas in management theory presented by their originators, but also a unique collection of reflections on the process of theory development, an area which to date little has been written about by those who have actually had experience of building theory. In their concluding chapter, Ken G. Smith and Michael A. Hitt draw together some common themes about the development of management theory over the last half a century, and suggest some of the conclusions to be drawn about how theory comes into being. Contributors: Chris Argyris, Albert Bandura, Jay B. Barney, Lee R. Beach, Kim Cameron, Michael R. Darby, Robert Folger, R. Edward Freeman, Michael Frese, J. Richard Hackman, Donald C. Hambrick, Michael A. Hitt, Anne S. Huff, Gary P. Latham, Edwin A. Locke, Henry Mintzberg, Terrence R. Mitchell, Richard T. Mowday, Ikujiro Nonaka, Greg R. Oldham, Jeffrey Pfeffer, Lyman W. Porter, Denise M. Rousseau, W. Richard Scott, Ken G. Smith, Barry M. Staw, Richard M. Steers, Victor H. Vroom, Karl E. Weick, Oliver E. Williamson, Sidney G. Winter, and Lynn Zucker,

The Process of Theory Development

Great Minds in Management

R. Duane Ireland

Jeffrey S. Harrison

In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This M&A action was merely the latest in a growing trend of "blockbuster" mergers over the past several years. Once a phenomenon seen primarily in the United States, mergers and acquisitions are increasingly being pursued across national boundaries. In short, acquisition strategies are among the most important corporate-level strategies in the new millennium. The need for clear, complete, and up-to-date guide to successful mergers and acquisitions had never been greater. This book more than fills that need. Looking at successful--and unsuccessful--mergers and acquisitions in a number of different industries, Mergers and Acquisitions: A Guide to Creating Value explains how to conduct an acquisition and how to avoid pitfalls that have doomed many such ventures. The authors take the reader step-by-step through the process, starting with the elements of a successful merger, due diligence to ensure that the target firm is sound and fits well with the acquiring firm, and how mergers and acquisitions are financed. They move on to explore how firms find partners/targets for acquisitions that have complementary resources and how to find partners with which integration and synergy can be achieved. Finally, they discuss the potential hazards found in M&A's and how to avoid them, how to conduct successful cross-border acquisitions, and how to ensure that ethical principles aren't breached during the process. Based on 15 years of research, this essential guide goes beyond specific case studies to cover all aspects of these ventures, making it required reading for all managers seeking to build a successful strategy.

A Guide to Creating Value for Stakeholders

Mergers & Acquisitions

This work is a comprehensive guide to planning and executing successful mergers and acquisitions.

Mergers and Acquisitions

Robert E. Hoskisson

Large, diversified firms face unique challenges as they compete worldwide, and corporate restructuring is one way multinationals strive for competitive advantage. Weighing the pros and cons of a variety of approaches to restructuring, Downscoping offers executives a clear, strategic path through the maze. The authors show that when a multinational conglomerate fails to compete effectively, too much diversification may be the culprit. Whether the result of weak corporate governance or poor corporate strategy, over-diversification can make managers, unfamiliar with some of the markets in which they compete, opt for safety over innovation. This risk-aversion and lack of long-range commitment to innovation lead inevitably to stagnation over the longer term. The answer is not downsizing--closing offices and laying off personnel--but downscoping: a strategic approach to restructuring. The options include incentive and compensation adjustments for executives, leveraged buy-outs and capital structure changes, focusing on core skills, diversifying internationally while focusing on businesses in which a firm has strong competencies, and buying and selling mature businesses where product development is not a great concern. Regardless of the approach, executives must exercise strategic leadership during and after restructuring, including providing strategic direction, exploiting core competencies, developing human capital, and sustaining the corporate culture. Based on systematic research rather than casual observation, Downscoping provides a strong description of restructuring alternatives and their resulting tradeoffs. Its specific guidelines for maintaining competitiveness will be essential reading for managers involved in corporate restructuring.

How to Tame the Diversified Firm

Downscoping

R. Edward Freeman

In this major reference work, top scholars in the field of strategic management present major ideas and theories in the field drawing on their own research and special expertise. Offers complete coverage of the field of strategic management. Incorporates new ideas on strategy topics from leading scholars in the field. Edited by three of the World's leading management academics.

The Blackwell Handbook of Strategic Management

Discover the knowledge and tools that today's most successful firms use to build business and consistently outperform the competition when you open the latest edition of Ireland/Hoskisson/Hitt's UNDERSTANDING BUSINESS STRATEGY CONCEPTS PLUS, Third Edition. This concise, hands-on approach by recognized leaders in business strategy clearly demonstrates how solid management strategy equals the decisive, responsive action that prosperous firms use to create sustainable competitive advantage. This edition guides you, step-by-step, through creating strong strategy, planning for success, implementing responsive action, competing effectively with strategy, analyzing the environment and firm, and improving upon results. The authors clearly connect strategy concepts to the real business world, giving you the unique opportunity to examine and learn from strategy that has worked as well as strategy that has failed within familiar companies. The latest research and insights from global business leaders, extensive examples, and practical cases help equip you with the hands-on skills and career tools for your own superior performance and strategic management success. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.

Understanding Business Strategy Concepts Plus

Irene M. Duhaime

Majorie A. Lyles

An authoritative overview of the prior development, current state, and future opportunities in strategic management The strategic management field, now a vibrant arena that offers valuable knowledge for managerial practice, has experienced significant growth in the more than forty years since its inception. And, until now, there has not been a book that captured the rich breadth and depth of knowledge of the discipline, while also looking to the future. Strategic Management provides a critical overview of the prior development, current state, and future opportunities in the strategic management field. Editors Irene M. Duhaime, Michael A. Hitt, and Marjorie A. Lyles bring together an exceptional group of scholars to explore specialized topics such as corporate strategy, strategic entrepreneurship, cooperative strategies, global strategy, strategic leadership, governance, innovation, strategy process and strategy practice, and strategic human capital. The book focuses heavily on the future developments and research opportunities available in the field, while also providing a solid base of knowledge for understanding strategic management as a whole. With articles from major leaders in the field, this authoritative volume will be useful to every strategic management scholar.

State of the Field and Its Future

Strategic Management

Lyman W. Porter

Stewart Black

This comprehensive, scholarly book is appropriate for undergraduate and graduate course in Principles of Management. 'Achieve balance' with HBP, Management 1/e. Principles of Management is about bringing together the Organizational Behavior skills of people management with the Strategy skills of running a business. HBP, Management has achieved the right balance through balanced authorship, research, and content.

Management

Charles R. Greer

Jobs, People, and Logic

Personnel Management

Discover what it takes to create a sustainable competitive advantage in management and business today with this straightforward, powerful strategic management resource. COMPETING FOR ADVANTAGE, 3E focuses specifically on the issues most important to today's current or future practitioner. The book details the processes and tools you need to better understand and effectively contribute to your organization's strategic management process. Applied examples illustrate the latest thinking, practices, and research in strategic management today with in-depth discussions that examine critical topics such as innovation, professional service and crisis management. Access to relevant cases, a focus on the emerging issues such as ethics, and an emphasis on technology throughout prepare you for success in the fast-paced, ever-changing global economy in which today's firms compete. Take your students to a new level of understanding strategic management concepts and practices with COMPETING FOR ADVANTAGE, 3E. Straightforward, focused, and concise, this edition presents the latest strategic management research and practices, now with more in-depth discussions of the most current strategic topics in business today. Detailed real-life examples and instant access to relevant cases keep the book focused on issues most important to current or future practitioners. Crafted to meet the special needs to MBA and executive MBA students, the book details the processes and tools used in strategic analysis to create a sustainable competitive advantage. Full chapters on strategic leadership, corporate governance, and a new chapter on real options examine issues most critical in today's business environment. Comprehensive new instructor support with electric solutions help you effectively prepare a powerful course that addressed traditional and relevant emerging topics that are shaping strategic management today. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.

Competing for Advantage

Dallas Hanson

"With an emphasis on global advantage, the text offers a comprehensive examination of regional and international issues to provide a complete, accurate and up-to-date explanation of the strategic management process. New coverage on environmental concerns and emerging technologies as well as examples and cases from Australia, New Zealand and Asia-Pacific serve to engage students while updated international content demonstrates how strategic management is used in the global economy. The text takes a ‘resource-based’ approach, which requires the examining of a firm’s unique bundling of its internal resources." --Publisher's website.

Strategic Management: Competitiveness and Globalisation

Jing Zhou

Christina Ellen Shalley

Creativity can be viewed as the first stage of the overall innovation process, an important dimension of the entrepreneurship and new venture creation processes, and as such, it is considered to be a cornerstone of organizational competitiveness in this global, knowledge-based economy. Research on creativity has increasingly become multilevel, with most work conducted at the individual or team level of analysis. At the same time, there is a large body of research being conducted at the organizational level of analysis on innovation, and there has been a significant amount of entrepreneurship research at the individual level, with an increasing focus on organizational entrepreneurship. However, these three research streams have developed independently, and there has been very little knowledge transfer between the three areas. Because entrepreneurship is often said to be a process that is required to convert innovation into business ventures that will deliver benefits to stakeholders, it is typically driven by an individual or small group of individuals. Creativity research, innovation research, and entrepreneurship research have the potential to inform each other, enriching our knowledge of each area, particularly with regard to the cognitive processes and behaviors that are most effective. This Handbook includes contributions from the leading scholars in these three research areas, who integrate contemporary research findings on organizational creativity, innovation, and entrepreneurship and provide fruitful new research directions."

Michael A. Hitt

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