Principles and Practices of Strategic Management

Principles and Practices of Strategic Management teaches undergraduate students of management about strategic planning and decision making. Unlike many traditional textbooks that focus on strategy in an overly broad or theoretical manner, this text approaches strategy as results-driven, data-driven, and dynamic. Featuring contemporary topics that are of high interest to students, the book emphasizes the practical, rather than the theoretical.

The book is divided into four sections. The first, “Charting the Direction of the Organization,” helps students understand the management process and define a meaningful vision. The second, “Understanding the Organization in Context,” addresses governance, social responsibility, corporate and resource sustainability, and the external environment. In the third section, “Considering Strategic Options,” the selected readings talk about assessing an organization's capabilities, evaluating the value chain, and examining innovation. The final section, “Managing for Results,” offers insight into ensuring that strategies are complete and clear, placing strategies in a global context, and leading strategically.

Vignettes before chapters cover hot topics and the trends companies are currently following. The book features key terms, concept check/mini-quizzes, and end-of-chapter exercises that enhance retention and provide for linkages to computer-based simulations. Throughout the book, global and multinational strategic plans are considered from a results orientation, supported by extensive research and practical experience.

Principles and Practices of Strategic Management is designed for undergraduate strategic management courses. The material has been extensively class-tested, and is also helpful to professionals in both for-profit and non-profit business environments.