Strategic Management: Value Creation, Sustainability, and Performance

Strategic Management 8e combines theory and practice, updated into 2024, in a unique and integrative approach to the study of strategic management. For instructors it emphasizes the value chain and resource-based sustainability as central integrating strategy concepts. For students it draws on the twin "strategic imperatives" of value creation and opportunity recognition as recurrent themes that help to sync ideas from cover to cover. Together these integrating mechanisms focus on the tension that exists between competing effectively in the present while preparing to compete effectively over the long run. Examples from highly competitive environments illustrate how traditional theoretical principles and analytical frameworks apply to today's dynamic business climate. Grounded in contemporary strategic management theory, the book also exhibits a very practical approach. An early chapter is devoted exclusively to the key question of Strategy and Performance, which enables richer classroom discussions moving forward. Other chapters provide step-by-step guidance on actually putting strategy frameworks to use (e.g., how to conduct an industry analysis, how to do a resource analysis, how to conduct a value chain analysis) along with clear examples for each. Classroom-tested and peer-reviewed, the author employs an engaging writing style that appeals to students and instructors alike. This 8th edition updates the previous edition and continues its tradition of providing the most current industry and company data of any strategy text in the market.