Version Notes

Version Notes

The book you are reading is deeply adapted from an openly licensed textbook titled Mastering Strategic Management published in 2015 under a Creative Commons Attribution NonCommercial ShareAlike 3.0 licence by the University of Minnesota Libraries Publishing Service. Below is a record of changes made to the book.

All Chapters

  • Deleted all all section Learning Objectives; added Learning Objectives at the chapter level only
  • Revised section headings and subheadings format
  • Added Introduction to each chapter
  • Updated many illustrations and vignettes to make more current
  • Added video links for each major section
  • Updated reference lists

Chapter 1

  • Deleted the 5 P’s
  • Added a sub-section called Contemporary Critique of Strategic Management at the end of the History of Strategic Management section
  • Deleted 2 paragraphs in the sub-section called Lessons Offered by Military Strategy
  • Moved sections 2 and 3 under section 1
  • Deleted the heading Modeling the Strategy Process

Chapter 2

  • Added a section called Corporate Values
  • Deleted the section on CEO as Celebrity
  • Added a section on Competitive Advantage
  • Moved section on Entrepreneurial Orientation to Chapter 7, Innovation

Chapter 3

  • Deleted vignette on Subway, replaced with Panera Bread
  • Added a section on Interpreting the Five Forces
  • Added section called Understanding Groups
  • Added section called Designing a Strategic Group Map

Chapter 4

  • Updated the Southwest Airlines example
  • Organized Resources and Capabilities section ahead of VRIO: Four Characteristics of Strategic Resources
  • Changed N = Nonsubstituable to O= Organized to Capture Value
  • Deleted The Marketing Mix
  • Deleted Is Resource-Based Theory Old News
  • Added section on isolating mechanisms
  • Deleted section on From the Value Chain to Best Value Supply Chains
  • Deleted section on Beyond Resource-Based Theory: Other Views on Company Performance
  • Moved Section on SWOT Analysis to new Chapter 5

Chapter 5

(Additional Chapter Added)

  • Added SWOT Analysis from Chapter 4
  • Composed new section on Strategic Issue Identification
  • Added conclusion

Chapter 6

(formerly Chapter 5 Selecting Business-Level Strategies)

  • Updated the Target example and picture
  • Replaced Yugo example with K-Mart

Chapter 7

(formerly Chapter 6 Supporting the Business Level Strategy: Competitive and Cooperative Moves)

  • Changed the title to Innovation Strategies
  • Added the Entrepreneurial Orientation section from Chapter 2 as the first section
  • Changed original first section to Why Innovate
  • Added section on Innovate to Capture Markets
  • Moved the Get Moving illustration to earlier in the chapter
  • Moved Blue Ocean to earlier in the chapter
  • Deleted Autonomy and Competitive Aggressiveness in the Entrepreneurial Orientation section
  • Deleted the section on Merck
  • Replaced section Responding to Competitors Moves to Types of Innovation
  • Added Incremental, Architectural, and Radical to Disruptive Innovation
  • Changed Making Cooperative Moves section to Implementing Innovation
  • Deleted Co-opetition and Co-location, added Internal Development and Acquisitions
  • Added Product Life Cycle and Crossing the Chasm
  • Replaced section Making Cooperative Moves to Responding to Innovation in the Market, included Co-opetition and co-location here

Chapter 8

  • Updated Disney illustration at the beginning
  • Added section defining corporate strategy and synergy
  • Deleted section on Concentration Strategies
  • Added section on the 3 types of diversification
  • Moved Diversification Strategies section to before section on Vertical Integration Strategies
  • Updated many of the illustrations and examples
  • Added section on Geographic Diversification
  • Added major section on Implementing Corporate Strategies
  • Added section on Diversification Discount
  • Added 2 graphics on the BCG Matrix and section on how to plot, interpret, and make decisions using the BCG Matrix.

Chapter 9

  • Added section defining international strategy and providing context
  • Made various edits and updates to figures and text
  • Added a major section on the CAGE framework
  • Added a section on a fourth international strategy – International, and a graphic showing all four
  • Rearranged the options for competing in international markets and added graphics to range from exporting to greenfield to show continuum of least risk, control, and profit potential to most.

Chapter 10

  • Added section on Why Organizational Design?
  • Deleted section on simple organizational structure
  • Added section on boundary less organizational structure
  • Added more text and illustration to matrix section
  • Multiple edits to update text and illustrations
  • Added more content to the Forms of Business section

Chapter 11

  • Added a large section, 11.1 Doing Well By Doing Good, that included corporate scandals, resulting in Sarbanes-Oxley Act and firm emphasis on code of ethics and compliance. Introduced corporate ethics and CSR
  • Deleted the section on Stages of Moral Development
  • Deleted section on Understanding Thought Patterns
  • Added section on Corporate Ethics and Social Responsibility
  • Added major section on Contemporary Questions of Corporate Ethics
  • Added section on offshoring
  • Added section on Environmental/Climate Change/Sustainability
  • Added section on Global Economic Inequality
  • Added a mini case on the ethical decisions for selling to the “bottom of the pyramid”
  • Added a mini case on the ethical dilemma presented by the Covid-19 pandemic
  • Various edits, smaller additions and deletions


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Strategic Management Copyright © 2020 by Reed Kennedy is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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