Strategic Management

Strategic Management

Colin White

Strategic Management

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Strategic Management

Colin White

? Colin White 2004

All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission.

No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London W1T 4LP.

Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages.

The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988.

First published 2004 by PALGRAVE MACMILLAN Houndmills, Basingstoke, Hampshire RG21 6XS and 175 Fifth Avenue, New York, N.Y. 10010 Companies and representatives throughout the world

PALGRAVE MACMILLAN is the global academic imprint of the Palgrave Macmillan division of St. Martin's Press, LLC and of Palgrave Macmillan Ltd. Macmillan? is a registered trademark in the United States, United Kingdom and other countries. Palgrave is a registered trademark in the European Union and other countries.

ISBN 1?4039?0400?6

This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources.

A catalogue record for this book is available from the British Library.

Library of Congress Cataloging-in-Publication Data

White, Colin (Colin M.) Strategic management / Colin White. p. cm. Includes bibliographical references and index. ISBN 1?4039?0400?6 (pbk.) 1. Strategic planning. I. Title.

HD30.28.W447 2004 658.4'012--dc22

2003062091

Editing and origination by Aardvark Editorial, Mendham, Suffolk

10 9 8 7 6 5 4 3 2 1 13 12 11 10 09 08 07 06 05 04

Printed and bound in China

v

Brief contents

Prologue

xxi

Part I Introducing Strategic Management

1

1 Introducing strategy and strategy making

4

2 Thinking and acting strategically

43

3 Adopting a global perspective

78

4 Reading an uncertain future

113

Part II Strategic Environments and Competitive Advantage 157

5 Identifying opportunity and risk

160

6 Reading the competitive environment

199

7 Analysing resources, capabilities and core competencies

233

8 Creating and maintaining competitive advantage

266

9 Reducing costs

302

10 Differentiating the product

338

Part III Strategic Dilemmas

375

11 Determining the size of an enterprise

378

12 Integrating the strategists

416

13 When to compete and when to cooperate

456

14 Managing risk

495

15 Participating in the global economy

530

Part IV Bringing it all Together

565

16 Formulating strategy

568

17 Implementing strategy

614

18 Monitoring strategic performance

651

Part V Strategic Analysis and Audit

699

Long case studies

702

Epilogue

798

Glossary

802

Bibliography

812

Index

823

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