Strategic Management Concepts Competitiveness and Globalization 12th Edition Hitt Test Bank

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Product details:

• ISBN-10 ‏ : ‎ 1305502140
• ISBN-13 ‏ : ‎ 978-1305502147
• Author: Michael A. Hitt (Author), R. Duane Ireland (Author), Robert E. Hoskisson (Author)

Examine strategic management with the market-leading text that sets the standard for the most intellectually rich, practical analysis of strategic management. Written by respected experts Hitt, Ireland, and Hoskisson, the 12th edition of STRATEGIC MANAGEMENT is steeped in cutting-edge research featuring more than 500 emerging and leading companies, and reveals trends you can implement immediately to succeed in your field. You’ll discover how to integrate the classic industrial organization model with a resource-based view of the firm to give you a complete understanding of how today’s businesses use strategic management to establish competitive advantages and create value for stakeholders in the global marketplace. The freshly reimagined MindTap learning solution provides you with real-world activities that will prepare you to excel as a leader and outperform rivals.

Table of contents:

Part 1: Strategic Management Inputs

Chapter 1: Strategic Management and Strategic Competitiveness

Opening Case: Alibaba: An Online Colossus in China Goes Global

1-1 The Competitive Landscape

1-1a The Global Economy

1-1b Technology and Technological Changes

Strategic Focus

1-2 The I/O Model of Above-Average Returns

1-3 The Resource-Based Model of Above-Average Returns

1-4 Vision and Mission

1-4a Vision

1-4b Mission

1-5 Stakeholders

Strategic Focus

1-5a Classifications of Stakeholders

1-6 Strategic Leaders

1-6a The Work of Effective Strategic Leaders

1-7 The Strategic Management Process

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 2: The External Environment: Opportunities, Threats, Industry Competition, and Competitor An

Opening Case: Are There Cracks in The Golden Arches?

2-1 The General, Industry, and Competitor Environments

2-2 External Environmental Analysis

2-2a Scanning

2-2b Monitoring

2-2c Forecasting

2-2d Assessing

2-3 Segments of the General Environment

2-3a The Demographic Segment

2-3b The Economic Segment

2-3c The Political/Legal Segment

2-3d The Sociocultural Segment

2-3e The Technological Segment

2-3f The Global Segment

2-3g The Sustainable Physical Environment Segment

Strategic Focus

2-4 Industry Environment Analysis

2-4a Threat of New Entrants

2-4b Bargaining Power of Suppliers

2-4c Bargaining Power of Buyers

2-4d Threat of Substitute Products

2-4e Intensity of Rivalry among Competitors

2-5 Interpreting Industry Analyses

2-6 Strategic Groups

Strategic Focus

2-7 Competitor Analysis

2-8 Ethical Considerations

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 3: The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Ad

Opening Case: Data Analytics, Large Pharmaceutical Companies, and Core Competencies: A Brave New Wor

3-1 Analyzing the Internal Organization

3-1a The Context of Internal Analysis

3-1b Creating Value

3-1c The Challenge of Analyzing the Internal Organization

3-2 Resources, Capabilities, and Core Competencies

3-2a Resources

Strategic Focus

3-2b Capabilities

3-2c Core Competencies

3-3 Building Core Competencies

3-3a The Four Criteria of Sustainable Competitive Advantage

3-3b Value Chain Analysis

3-4 Outsourcing

3-5 Competencies, Strengths, Weaknesses, and Strategic Decisions

Strategic Focus

Summary

Key Terms

Review Questions

Mini-Case

Notes

Part 2: Strategic Actions: Strategy Formulation

Chapter 4: Business-Level Strategy

Opening Case: Hain Celestial Group: A Firm Focused on “Organic” Differentiation

4-1 Customers: Their Relationship with Business-Level Strategies

4-1a Effectively Managing Relationships with Customers

4-1b Reach, Richness, and Affiliation

4-1c Who: Determining the Customers to Serve

4-1d What: Determining Which Customer Needs to Satisfy

4-1e How: Determining Core Competencies Necessary to Satisfy Customer Needs

4-2 The Purpose of a Business-Level Strategy

4-3 Types of Business-Level Strategies

4-3a Cost Leadership Strategy

4-3b Differentiation Strategy

Strategic Focus

4-3c Focus Strategies

4-3d Integrated Cost Leadership/Differentiation Strategy

Strategic Focus

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 5: Competitive Rivalry and Competitive Dynamics

Opening Case: Does Google Have Competition? Dynamics of the High Technology Markets

5-1 A Model of Competitive Rivalry

5-2 Competitor Analysis

5-2a Market Commonality

5-2b Resource Similarity

Strategic Focus

5-3 Drivers of Competitive Behavior

5-4 Competitive Rivalry

5-4a Strategic and Tactical Actions

5-5 Likelihood of Attack

5-5a First-Mover Benefits

5-5b Organizational Size

5-5c Quality

5-6 Likelihood of Response

5-6a Type of Competitive Action

5-6b Actor’s Reputation

5-6c Market Dependence

5-7 Competitive Dynamics

5-7a Slow-Cycle Markets

5-7b Fast-Cycle Markets

5-7c Standard-Cycle Markets

Strategic Focus

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 6: Corporate-Level Strategy

Opening Case: Disney Adds Value Using a Related Diversification Strategy

6-1 Levels of Diversification

6-1a Low Levels of Diversification

6-1b Moderate and High Levels of Diversification

6-2 Reasons for Diversification

6-3 Value-Creating Diversification: Related Constrained and Related Linked Diversification

6-3a Operational Relatedness: Sharing Activities

6-3b Corporate Relatedness: Transferring of Core Competencies

6-3c Market Power

6-3d Simultaneous Operational Relatedness and Corporate Relatedness

6-4 Unrelated Diversification

6-4a Efficient Internal Capital Market Allocation

Strategic Focus

6-4b Restructuring of Assets

6-5 Value-Neutral Diversification: Incentives and Resources

6-5a Incentives to Diversify

Strategic Focus

6-5b Resources and Diversification

6-6 Value-Reducing Diversification: Managerial Motives to Diversify

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 7: Merger and Acquisition Strategies

Opening Case: Mergers and Acquisitions: Prominent Strategies for Firms Seeking to Enhance Their Perf

7-1 The Popularity of Merger and Acquisition Strategies

7-1a Mergers, Acquisitions, and Takeovers: What Are the Differences?

7-2 Reasons for Acquisitions

Strategic Focus

7-2a Increased Market Power

7-2b Overcoming Entry Barriers

Strategic Focus

7-2c Cost of New Product Development and Increased Speed to Market

7-2d Lower Risk Compared to Developing New Products

7-2e Increased Diversification

7-2f Reshaping the Firm’s Competitive Scope

7-2g Learning and Developing New Capabilities

7-3 Problems in Achieving Acquisition Success

7-3a Integration Difficulties

7-3b Inadequate Evaluation of Target

7-3c Large or Extraordinary Debt

7-3d Inability to Achieve Synergy

7-3e Too Much Diversification

7-3f Managers Overly Focused on Acquisitions

7-3g Too Large

7-4 Effective Acquisitions

7-5 Restructuring

7-5a Downsizing

7-5b Downscoping

7-5c Leveraged Buyouts

7-5d Restructuring Outcomes

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 8: International Strategy

Opening Case: Netflix Ignites Growth Through International Expansion, But Such Growth Also Fires Up

8-1 Identifying International Opportunities

8-1a Incentives to Use International Strategy

8-1b Three Basic Benefits of International Strategy

8-2 International Strategies

8-2a International Business-Level Strategy

8-2b International Corporate-Level Strategy

Strategic Focus

8-3 Environmental Trends

8-3a Liability of Foreignness

8-3b Regionalization

8-4 Choice of International Entry Mode

8-4a Exporting

8-4b Licensing

8-4c Strategic Alliances

8-4d Acquisitions

8-4e New Wholly Owned Subsidiary

8-4f Dynamics of Mode of Entry

8-5 Risks in an International Environment

8-5a Political Risks

8-5b Economic Risks

Strategic Focus

8-6 Strategic Competitiveness Outcomes

8-6a International Diversification and Returns

8-6b Enhanced Innovation

8-7 The Challenge of International Strategies

8-7a Complexity of Managing International Strategies

8-7b Limits to International Expansion

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 9: Cooperative Strategy

Opening Case: Google, Intel, and Tag Heuer: Collaborating to Produce a Smartwatch

9-1 Strategic Alliances as a Primary Type of Cooperative Strategy

9-1a Types of Major Strategic Alliances

9-1b Reasons Firms Develop Strategic Alliances

9-2 Business-Level Cooperative Strategy

9-2a Complementary Strategic Alliances

9-2b Competition Response Strategy

9-2c Uncertainty-Reducing Strategy

9-2d Competition-Reducing Strategy

Strategic Focus

9-2e Assessing Business-Level Cooperative Strategies

9-3 Corporate-Level Cooperative Strategy

9-3a Diversifying Strategic Alliance

9-3b Synergistic Strategic Alliance

9-3c Franchising

9-3d Assessing Corporate-Level Cooperative Strategies

9-4 International Cooperative Strategy

9-5 Network Cooperative Strategy

9-5a Alliance Network Types

9-6 Competitive Risks with Cooperative Strategies

Strategic Focus

9-7 Managing Cooperative Strategies

Summary

Key Terms

Review Questions

Mini-Case

Notes

Part 3: Strategic Actions: Strategy Implementation

Chapter 10: Corporate Governance

Opening Case: The Corporate Raiders of the 1980s Have Become the Activist Shareholders of Today

10-1 Separation of Ownership and Managerial Control

10-1a Agency Relationships

10-1b Product Diversification as an Example of an Agency Problem

10-1c Agency Costs and Governance Mechanisms

10-2 Ownership Concentration

10-2a The Increasing Influence of Institutional Owners

10-3 Board of Directors

10-3a Enhancing the Effectiveness of the Board of Directors

10-3b Executive Compensation

10-3c The Effectiveness of Executive Compensation

Strategic Focus

10-4 Market for Corporate Control

10-4a Managerial Defense Tactics

10-5 International Corporate Governance

10-5a Corporate Governance in Germany and Japan

Strategic Focus

10-5b Corporate Governance in China

10-6 Governance Mechanisms and Ethical Behavior

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 11: Organizational Structure and Controls

Opening Case: Luxottica’s Dual Ceo Structure: A Key to Long Term Success or a Cause for Concern?

11-1 Organizational Structure and Controls

11-1a Organizational Structure

Strategic Focus

11-1b Organizational Controls

11-2 Relationships between Strategy and Structure

11-3 Evolutionary Patterns of Strategy and Organizational Structure

11-3a Simple Structure

11-3b Functional Structure

11-3c Multidivisional Structure

11-3d Matches between Business-Level Strategies and the Functional Structure

11-3e Matches between Corporate-Level Strategies and the Multidivisional Structure

Strategic Focus

11-3f Matches between International Strategies and Worldwide Structure

11-3g Matches between Cooperative Strategies and Network Structures

11-4 Implementing Business-Level Cooperative Strategies

11-5 Implementing Corporate-Level Cooperative Strategies

11-6 Implementing International Cooperative Strategies

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 12: Strategic Leadership

Opening Case: Can You Follow an Icon and Succeed? Apple and Tim Cook After Steve Jobs

12-1 Strategic Leadership and Style

12-2 The Role of Top-Level Managers

12-2a Top Management Teams

12-3 Managerial Succession

Strategic Focus

12-4 Key Strategic Leadership Actions

12-4a Determining Strategic Direction

12-4b Effectively Managing the Firm’s Resource Portfolio

Strategic Focus

12-4c Sustaining an Effective Organizational Culture

12-4d Emphasizing Ethical Practices

12-4e Establishing Balanced Organizational Controls

Summary

Key Terms

Review Questions

Mini-Case

Notes

Chapter 13: Strategic Entrepreneurship

Opening Case: Entrepreneurial Fervor and Innovation Drive Disney’s Success

13-1 Entrepreneurship and Entrepreneurial Opportunities

13-2 Innovation

13-3 Entrepreneurs

13-4 International Entrepreneurship

13-5 Internal Innovation

13-5a Incremental and Novel Innovation

Strategic Focus

13-5b Autonomous Strategic Behavior

13-5c Induced Strategic Behavior

13-6 Implementing Internal Innovations

13-6a Cross-Functional Product Development Teams

13-6b Facilitating Integration and Innovation

13-6c Creating Value from Internal Innovation

13-7 Innovation through Cooperative Strategies

13-8 Innovation through Acquisitions

Strategic Focus

13-9 Creating Value through Strategic Entrepreneurship

Summary

Key Terms

Review Questions

Mini-Case

Notes

Part 4: Preparing an Effective Case Analysis

Name Index

Company Index

Subject Index

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