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1、Mastering Strategic ManagementThis text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the works original creator or licensee. Saylor URL: /.saylor.org/books Saylor.org 1 Preface Teaching strategic ma
2、nagement classes can be a very difficult challenge for professors. In most business schools, strategic management is a “capstone” course that requires students to draw on insights from various functional courses they have completed (such as marketing, finance, and accounting) to understand how top e
3、xecutives make the strategic decisions that drive whether organizations succeed or fail. Many students have very little experience with major organizational choices. This undermines many students engagement in the course. Our book is designed to enhance student engagement. A good product in any indu
4、stry matches what customers want and need, and the textbook industry is no exception. It is well documented that many of todays students are visual learners. To meet students wants and needs (and thereby create a much better teaching experience for professors), our book offers the following: Several
5、 graphic displays in each chapter that summarize key concepts in a visually appealing format.Chapter 1 ;Mastering Strategy: Art and Science;, for example, offers graphic displays on (1) the “5 Ps” of strategy; (2) intended, emergent, and realized strategies; (3) strategy in ancient times; (4) milita
6、ry strategy; and (5) the evolution of strategic management as a field of study. The idea for the graphic displays was inspired by the visually rich and popular series on business published by DK Publishing. Rich, illustrative examples drawn from companies that are relevant to many students. As part
7、of our emphasis on examples, each chapter uses one company as an ongoing example to bring various concepts to life. In Chapter 1 ;Mastering Strategy: Art and Science;, Apple is used as the ongoing example. A “strategy at the movies” feature in each chapter that links course concepts with a popular m
8、otion picture. In Chapter 1 ;Mastering Strategy: Art and Science;, for example, we describe how The Social Network illustrates intended, emergent, and realized strategies. Meanwhile, working within the Flat World Knowledge business model gives our book a significant price advantage over other textbo
9、oks. Politicians in many states are paying more and more attention over time to the cost of a college education, including the high prices of most textbooks. It is Saylor URL: /.saylor.org/books Saylor.org 2 therefore reasonable to expect an ever-increasing number of professors to seek modestly pric
10、ed textbooks. Professors still want to be assured of quality, of course. Both of us are endowed chairs at Research I universities. We have long track records of publishing our research in premier journals, and we have served in a variety of editorial and review board roles for such journals. Finally
11、, we recognize that professors want to minimize their switching costs when adopting a new book. Although every textbook is a little unique, our table of contents offers a structure and topic coverage that parallels what market leading books provide. Saylor URL: /.saylor.org/books Saylor.org 3 Chapte
12、r 1 Mastering Strategy: Art and Science LEARNING OBJECTIVES After reading this chapter, you should be able to understand and articulate answers to the following questions: 1. What are strategic management and strategy? 2. Why does strategic management matter? 3. What elements determine firm performa
13、nce? Strategic Management: A Core Concern for Apple The Opening of the Apple Store Image courtesy of Neil Bird, /.flickr4/photos/nechbi/2058929337. March 2, 2011, was a huge day for Apple. The firm released its much-anticipated iPad2, a thinner and faster version of market-leading Apples iPad tablet
14、 device. Apple also announced that a leading publisher, Random House, had made all seventeen thousand of its books available through Apples iBookstore. Apple had enjoyed tremendous success for quite some time. Approximately fifteen million iPads were sold in 2010, and the price of Apples stock had m
15、ore than tripled from early 2009 to early 2011. Saylor URL: /.saylor.org/books Saylor.org 4 But future success was far from guaranteed. The firms visionary founder Steve Jobs was battling serious health problems. Apples performance had suffered when an earlier health crisis had forced Jobs to step a
16、way from the company. This raised serious questions. Would Jobs have to step away again? If so, how might Apple maintain its excellent performance without its leader? Meanwhile, the iPad2 faced daunting competition. Samsung, LG, Research in Motion, Dell, and other manufacturers were trying to create tablets that were cheaper, faster, and more versatile than the iPad2. These firms were eager to steal market share by selling their t
