- Cover
- Title Page
- Brief Contents
- Contents
- About the Author
- Preface
- Dedication
- 1. Introduction to Business Policy and Strategic Management
- Strategy Show: Mindtree—Right Things the Right Way
- 1.1. Evolution of Strategic Management as a Discipline
- 1.2. Concepts of Strategy and Business Policy
- 1.3. Meaning and Nature of Strategic Management
- 1.4. Importance and Relevance of Strategy
- 1.5. Characteristics of Strategic Management and Strategy Absence
- 1.6. Role of the Strategist-Strategic Management Professionals
- 1.7. Conceptual Framework of Strategic Management
- 1.8. Some Theories Used in Strategic Management
- 1.9. Tools and Techniques in Strategic Management
- 1.10. Forerunners of Strategy in Business Management
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Game Plan of Britannia
- 2. Analysis of Business Environment
- Strategy Show: Shemaroo Rises with Technological Changes
- 2.1. Analysing External Business Environment
- 2.2. Levels of Analysis: PESTELD Framework and ETOP Analysis
- 2.3. Environmental Scanning and Appraisal—Strategic Intelligence
- 2.4. Competitive Environmental Analysis: Industry and Competition
- 2.5. Porter’s Five-Forces Model
- 2.6. Competitive Profile Matrix
- 2.7. Strategies for Competing in Globalizing Markets: Impact of Globalization, MNCs
- 2.8. Internet Economy, E-Commerce, and Social Networking Sites
- 2.9. Changing Strategic Situations, Complexity, Turbulence, and Chaos: Institutional Strategy
- 2.10. Industry Driving Forces
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: ITC: Value from Environmental Stewardship
- 3. Internal Analysis
- Strategy Show: TTK: Amassing Resources and Enhancing Value of Prestige
- 3.1. Organizational Appraisal: Firms As Value Creators
- 3.2. Value Chain Analysis and Value Creation
- 3.3. Elements of Value Proposition: Analysing a Company’s Resources and Competitive Position
- 3.4. Dimensions of Value
- 3.5. Value Hierarchy, Value Shop, and Value Network
- 3.6. Assessing Market Value of a Business
- 3.7. Resource-Based View (RBV) of the Firm
- 3.8. Knowledge- and Capability-Based View (KBV)
- 3.9. Concept of Core Competence
- 3.10. Distinctive and Unique Competencies
- 3.11. Dynamic Capabilities
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Mawana Sugars Struggling to Survive
- 4. Mission, Vision, Strategic Objectives, and Business Model
- Strategy Show: Mundra Port and SEZ Pvt Ltd—Aiming High and Achieving
- 4.1. Firm and Strategy
- 4.2. Elements of a Firm’s Strategy
- 4.3. Objectives and Functions of a Strategy
- 4.4. Developing Strategic Vision and Strategic Objectives
- 4.5. Levels of Objectives
- 4.6. Organizational Mission and Mission Statements
- 4.7. Stakeholders Expectations, Cooperation, and Ambition
- 4.8. Alignment of a Firm With Community
- 4.9. Elements of a Business Model and Its Relationship with Strategy
- 4.10. Real and Virtual Organizations
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Shriram Transport Finance Company—Adamant about Funding
- 5. Strategy Formulation
- Strategy Show: GMR–Strategy of Overstretching, Burdening Itself
- 5.1. Organizational Appraisal and Strategic Planning Process
- 5.2. Strategic Planning
- 5.3. Strategic Thinking
- 5.4. Scenario Planning or Building, Strategic Direction
- 5.5. Generic Competitive Strategies
- 5.6. Strategy Levels
- 5.7. First Mover Advantages
- 5.8. Strategic Analysis, Strategic Options, Strategy Choice
- 5.9. Norms of Strategy Making
- 5.10. Offensive Strategies and Defensive Strategies
- 5.11. Benchmarking and Industry Standards
- 5.12. Resource-Led Strategies
- 5.13. Strategic Advantage Analysis
- 5.14. Open Strategy
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Micromax—Strategy Attuned to the Market
- 6. Corporate Level Strategies
- Strategy Show: ‘Mahindra—from Rural Roads to Main Roads’
- 6.1. Strategies and Competitive Advantages in Diversified Companies and their Evaluation
- 6.2. Diversification and Integration Strategies
- 6.3. Mergers, Acquisitions, and Takeover Strategies
- 6.4. Strategic Alliances
- 6.5. Joint Venture’s Strategies
- 6.6. International Business Entry Level Strategies
- 6.7. Strategic Sale or Divesting SBU
- 6.8. Political Strategies for Competitive Advantage
- 6.9. Reverse Logistics as Sustainable Competitive Advantage
- 6.10. Outsourcing Strategies: Make vs Buy
- 6.11. Franchising Strategies
- 6.12. Portfolio Analysis
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Marico ‘Separates Feminine Part’
- 7. Business Level and Functional Strategies
- Strategy Show: Reliance Industries—Sharpening the Performance Engine
- 7.1. Strategic Management in a Strategic Business Unit
- 7.2. Stability Strategies
- 7.3. Growth—Horizontal and Vertical
- 7.4. Divestment
- 7.5. Human Resource Strategies
- 7.6. Finance and Accounting Strategies
- 7.7. Marketing and Distribution Strategies
- 7.8. Production and Operations Management Strategies and Tactics
- 7.9. R&D Strategy or Innovation Strategy Creating Value Changing Processes
- 7.10. Learning Organization
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Century Plywoods: Technical Connect to Emotional Connect
- 8. Embedding Environmental and Social Considerations in Strategy
- Strategy Show: Star Jalsha TV Channel Assumes Environmental Leadership
- 8.1. Practices for Sustainability of Businesses and Benefits Thereof
- 8.2. Environmental Risk Management
- 8.3. Environmental Communication
- 8.4. Green Strategy
- 8.5. Greening the Value Chain and Lifecycle Assessment
- 8.6. Environmental Management Systems and Environmental Audit
- 8.7. Entrepreneurship in Green Business
- 8.8. Eco Advantage Strategy and Product Differentiation
- 8.9. Ethical Processes, Environmental Ethics, and Triple Bottom Line Business
- 8.10. Moving from Sustainable Competitive Advantage to Corporate Sustainability Strategy
- 8.11. Green Washing
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Carbon Clean Solutions
- 9. Strategy Execution
- Strategy Show: Parle—Staying Competitive, Staying on Course
- 9.1. Strategy Implementation Phase of the Strategic Management Process
- 9.2. Operationalizing Strategy: Translating Intention to Action
- 9.3. Implementing Strategic Change
- 9.4. Decision Making During Strategy Execution
- 9.5. Structural Implementation
- 9.6. Functional Implementation
- 9.7. Behavioural Implementation: Culture, Power, and Values
- 9.8. Project Implementation: Implementation of Programs in Project Mode
- 9.9. Procedural Implementation
- 9.10. Resource Allocation
- 9.11. Communicating Strategy to Stakeholders
- 9.12. Strategic Initiatives
- 9.13. Strategic Repositioning
- 9.14. Innovation and Entrepreneurship
- 9.15. Business Process Re-engineering
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Ferns N Petals—Filling the Gifting Space
- 10. Corporate Governance
- Strategy Show: Siemens (India)—Transferring Wealth
- 10.1. What is Governance?
- 10.2. Composition of the Board of Directors
- 10.3. Roles and Responsibilities of Directors in Governance
- 10.4. Agency Problem and Shareholder Value
- 10.5. Ethical Process in CG
- 10.6. Strategic Initiative to Guide Ethical Behaviour
- 10.7. Role of Stakeholders in Shaping Ethics in Business
- 10.8. Corporate Scams and Failure or Strengthening of Governance
- 10.9. Principles of Good Governance
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Walmart India in Crisis Management Mode
- 11. Strategic Leadership
- Strategy Show: Cafe Coffee Day—Strategic Leadership and Scaling Heights
- 11.1. Understanding Leadership
- 11.2. Strategic Leadership Levels
- 11.3. Strategic Leadership
- 11.4. Operationalizing and Institutionalizing Strategy
- 11.5. Managing Conflicts and Getting Co-operation
- 11.6. Leadership and Culture
- 11.7. Corporate Strategic Leadership Role and Responsibilities
- 11.8. Business- or Division-Level Strategic Leadership Role and Responsibilities
- 11.9. Leadership Challenges of Strategy Implementation
- 11.10. Leading in Times of Great Change, Crisis, and Turmoil
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Central Parking Services—Strategic Leadership in Action
- 12. Monitoring Strategy Implementation
- Strategy Show: Aditya Birla Group—Growing Deeper in Multinational Character
- 12.1. Balanced Scorecard and Other Techniques of Strategy Success
- 12.2. Superior Performance Measures
- 12.3. Monitoring Risks and Assumptions of a Strategy
- 12.4. Establishing Strategic Controls and Operational Control
- 12.5. Disruptive Strategies and Alternate Strategies
- 12.6. Strategic Information Systems
- 12.7. Activity-Based Costing and Management Approach
- 12.8. Organization and Product Lifecycle Assessment
- 12.9. Strategy Audit
- 12.10. Economic Value-Added and Market Value-Added Concepts
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Hitting the 1000 Crores Mark in Two Years
- 13. Organizational Effectiveness Evaluation
- Strategy Show: Pidilite Industries—Accelerators Drive Fevicol
- 13.1. What is Organizational Effectiveness?
- 13.2. Economic Effectiveness of the Strategy of a Firm
- 13.3. Stakeholders’ Satisfaction as a Mesure of Effectiveness
- 13.4. Factors Affecting Sustainability
- 13.5. Ecological Sustainability Strategy Effectiveness
- 13.6. Status, Respect, and Reputation
- 13.7. Institution Building
- 13.8. Management Control Systems
- 13.9. System Audit and Disclosures
- 13.10. Project Effectiveness
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Nalli Silks—Maintaining Identity While Expanding
- 14. Strategy for Family Business
- Strategy Show: Vicco Laboratories Business for the Family
- 14.1. What is Strategy for a Family Business?
- 14.2. Strategies Adopted by Family Firms
- 14.3. Strategies for the Business Yielding to the Interests of Family
- 14.4. Performance Orientation and Key Success Factors of Family Business
- 14.5. Financial Management Strategies for Family Businesses
- 14.6. Governance in Family Business
- 14.7. Leadership Styles of Family Business
- 14.8. Integration of Family and Business Values
- 14.9. Embedding Founder’s Values and Objectives in the Organization
- 14.10. Succession Planning
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: S H Kelkar & Company (SHK)—Company First; Family Second
- 15. Strategy for Special Situations and Institutions
- Strategy Show: Glocal Hospital
- 15.1. Different Organizations for Different Needs and Situations
- 15.2. Situation-Specific Strategies
- 15.3. Strategy for Educational Institutions
- 15.4. Strategy of Healthcare Institutions
- 15.5. Strategy for Government or Public Institutions
- 15.6. Strategy for Research and Technology Organizations (RTOs)
- 15.7. Strategy for Entrepreneurial Ventures and SMEs
- 15.8. Strategy for Development Management or Non-Profit Organizations
- 15.9. Strategy for Professional Firms
- 15.10. Strategy for Political, Cultural, and Literary Organizations
- 15.11. Strategy for PE, VC, Banking, and Insurance Firms
- 15.12. Strategy for Internet Firms and Internet Dependent Firms
- 15.13. Strategy for Sports, Fitness, Entertainment, Media, and Tourism Firms
- 15.14. Strategy for Religious and Spiritual Organizations
- Summary
- Questions for Discussion
- Exercises for Understanding
- Project for Insights
- Strategy Practice: Edusports: School Sports Outsourcing
- Case Studies
- Appendix
- References
Strategic Management
Text and Cases
Jacob Thomas
Former Visiting Faculty
Institute of Management in Kerala, Thiruvanathapuram,
Rajagiri Centre for Business Studies, Kochi,
TKM Institute of Management, Kollam, and
Institute of Co-operative Management-Trivandrum
Currently
Additional Director of Vigilance and Anti-Corruption Bureau
Government of Kerala, Thiruvanathapuram
Kerala
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