The SMS Book Series was published in cooperation with Wiley and focused on cutting edge concepts/topics in strategic management theory and practice. The books emphasized building and maintaining bridges between theory and practice in strategic management. The work published generates and tests theories of strategic management and demonstrates how to learn, understand and apply these theories in practice.
Richard A Bettis, Blackwell Publishing; 2004
The bursting of the “dotcom bubble” and the terrorist attacks of September 11, 2001, have brought into question received wisdom about strategy. This volume reviews the lessons to be learned from these events, and proposes that, as a result, strategy in the twenty-first century will have to develop along new lines.
Comprising a series of outstanding contributions by experts in the field, the collection focuses on changes that are occurring in how strategy is viewed, formulated, and analyzed, and looks forward to the future of strategic management. It discusses the emergence of new modes of thinking, new models, and new processes, and lays foundations on which strategy can build in future.
New industries are emerging, others are disrupted, old barriers are crumbling, while new ones are rising. This book seeks to understand better the challenges facing industries, networks, businesses, and management during periods of industry structuring and restructuring.
Comprising a series of contributions from experts in the field, the book addresses key questions about the opportunities and threats posed by these times of turmoil, including: How do existing industries sustain their competitiveness in such difficult times? How do networks stave off threats from new technologies? How do emerging and incumbent companies survive when growth is not an option? And how should companies be governed during periods of industry structuring and restructuring?
In answering these questions, the contributors provide an overview of the strategies that industries, networks, businesses, and managers are currently deploying in order to adapt to chaotic conditions and to enhance business profitability. Their responses make a distinctive contribution to scholarly thought and management practice.
Innovating Strategy Process presents a series of reflective essays by established and emerging scholars on the subject of innovation, considering it both as an outcome of strategy and as a process in itself.
The sections of the book highlight three specific issues related to innovation: the genesis of innovative strategy making, contexts for innovation, and models of strategic renewal. Within these three sections, cutting-edge topics addressed include: the dynamics of new value creation, play as the means and art as the impetus for strategy making, the role of emotion in new venture decision making, and science and entrepreneurship as a source of innovative strategies.
The book has something to offer to a wide range of readers. For the reflective executive, it contains new ideas and rich case descriptions that will trigger creative thinking about how to design a more innovative strategy process. For consultants, there are many new conceptual frameworks for analyzing and designing strategy process. Academic readers will relish the diversity and creativity behind the different contributions. Collectively, the essays signal the future direction of the field.
Constance B Helfat, Blackwell Publishing; 2004
This special handbook combines the work of scholars from strategic management, economics, history, organization theory, international business and technology management to address the question of "How do the resources and capabilities of organizations emerge, develop, and change over time?" Many of the chapters in this book provide new theoretical or, in some cases, empirical content that enhance our understanding of how organizational resources and capabilities evolve. In addition, other scholars provide thought-provoking commentary on the current streams of theory and empirical research. The book organizes contributions within several themes to include, the role of geographical location and social networks, the influence of a managerial mindset, and the co-evolution of resources and capabilities with other important factors such as products. Additionally, chapters are presented in time sequence of the evolution of resources and capabilities. The book provides a foundation for continued development of our knowledge of firm capabilities and a base for future research and practice. It promotes a more effective understanding of why firms, industries, technologies and, in some cases, entire economies, are successful or a failure.
This book presents up-to-date scholarly research and original work on the merger and acquisition strategy. Mergers and acquisitions continue to be a highly popular strategy among firms in the U.S. and have become increasingly popular as a primary strategy among firms globally. The work in this book examines both successful and unsuccessful mergers and acquisitions in order to understand why many of them do not succeed. Especially emphasized in this book are critical processes involved in the implementation of mergers and acquisitions and the integration of the two firms after the merger is consummated. In addition chapters are included on cross-border mergers and acquisitions, the acquisition of entrepreneurial firms, the process of knowledge transfer and learning in mergers and acquisitions and the effects of leadership and culture on the success of mergers and acquisitions. The book ends with a chapter summarizing the history of merger and acquisition activity and research. The book emphasizes the research needed to help us improve our understanding of mergers and acquisitions. Future research is recommended on the processes of due diligence, negotiating the deal and post-merger activities. Chapters are prepared by a number of top scholars in the field along with younger but highly visible scholars. This thought-provoking book stretches the boundaries of what we know about mergers and acquisitions.
This book seeks to define the contours of the field of strategy process, and provides a deep understanding of how strategies are shaped, implemented and changed. Complementing strategy content research focused on finding winning strategic positions, strategy process researchers and managers alike aspire to learn how these winning positions are realized. Strategy content emphasizes attractive destinations, while strategy process involves the journey to get there. This book seeks to provide a road map to help integrate and cumulate the research on strategy process. It identifies several useful research streams where quality work is strongly needed. The framework provided in this book focuses on the interplay between strategy content and process. The chapters examine (1) the dynamics of strategy content over time; (2) the effect of strategy process dimensions on firm performance; (3) the interrelationship between firm context and strategy process; and (4) the linkage among context, process and outcomes. The authors have developed thought-provoking and creative explorations of these topics. The book is an important reference for scholars and thoughtful executives interested in how strategies are realized.
This book contains essays on the strategies businesses are using in the new millennium to create value. The chapters cover such emerging issues in strategic management and entrepreneurship as value drivers for new business models, the use of real options and knowledge creation in high velocity environments. There has been an unanticipated increase in "new winners" operating in the new millennium competitive landscape. These "new winners" have built their businesses on unique business models by operating in an entrepreneurial, discovery-driven mode to identify opportunities in the turbulent environment. This book describes the various strategies employed by the "new winners" to succeed in the current competitive environment. Thus, it has exciting new cutting-edge ideas valuable to academics and executives alike.
This book highlights a new concept, strategic entrepreneurship, which integrates theory and research from the strategic management and entrepreneurship fields. In practice, it combines opportunity-seeking and advantage-seeking behaviors. Thus, strategic entrepreneurship involves identifying and exploiting opportunities to achieve a competitive advantage and thereby create wealth. This book includes chapters by top scholars in strategic management and entrepreneurship. The chapters use complementary work in strategic management and entrepreneurship to examine six separate domains. These domains include resources, innovation, strategic alliances and networks, strategic leadership and growth. Three author teams also explore the integration of the theory and research in the two disciplines. The chapters present thought-provoking and creative explorations of their topics. This book is an important reference for scholars and thoughtful executives interested in the cutting edge of theory and research in strategic management and entrepreneurship.
In the Twentieth Century, most businesses were composed of vertically integrated value chains. However, in the Twenty-first Century, the value chains in business are being deconstructed. Deconstruction is being shaped by powerful forces to include globalization, deregulation/privatization and sophisticated new information technologies. The most powerful force, however, spurred by new technologies, is the revolution of the economics of information.
Deconstruction of the proprietary business arrangements has changed the boundaries that define markets and industries leading to a radically new competitive landscape. The consequences of deconstruction for firms are dramatic. It is changing the concept of firm strategy along with the strategic options available to firms. Such changes have major effects on a firm's organizational structure, the strategic leadership exhibited by executives and managers, the acquisition and application of knowledge and the management of risk and uncertainty. Thus, deconstruction is redefining the theory of the firm.
This book explores the implications of value chain deconstruction on strategic thinking and the management actions to enact and react to the multiple challenges and opportunities. Several chapters explore particular strategies, "winning strategies," in the deconstructing world of business. The book integrates the latest thinking from top scholars and practitioners in the field of strategy to address critical ideas on deconstruction that are on the "cutting edge" of strategic management theory and practice.
Core competencies are critical to firm performance and are based on a firm's capabilities that, in turn, are derived from the firm's resources. Because of the importance of firm resources to competitive advantage, this book examines the management of strategic resources. The book addresses two major themes (1) resource strategy and firm performance, and (2) the development, commitment and governance of firm resources.
Successful firms build competitive advantages from their core competencies. Not only do they develop unique and valuable competencies but they also configure (integrate) their competencies in new and flexible ways and thereby renew themselves by facilitating the development and implementation of new strategies. Intangible resources such as corporate culture and firm reputation may be especially useful in this regard. Heterogeneous firm resources can be useful not only in developing a firm's competitive strategy but also aid the movement into new international markets (international strategy).
To develop and sustain a set of heterogeneous and valuable resources, a firm must manage them effectively. Managing strategic resources involves developing, allocating and governing the firm's resources. The internal development of resources requires that firms build (learn) knowledge and then exploit that knowledge. One means of accessing knowledge is through external networks (social capital). In fact, these external networks (e.g., strategic alliances) can be used to expand the creative capability of the firm and thereby help it to maintain a superior competitive position. Allocating resources to new projects is a critical decision for the future performance of firms. Effective allocation of resources allows them to be leveraged to create competitive advantages. Goals for the use of resources serve not only as a benchmark to evaluate performance but also help coordinate among different functions and serve as a catalyst for organizational learning.
Thus, Dynamic Strategic Resources: Development, Diffusion and Integration provides multiple perspectives on the creation and outcomes of strategic resources and how they can be managed to produce sustainable competitive advantages.
Business now operates in a new frontier that entails a new economic age and a dynamic, global market economy. The book addresses two major themes in this new frontier and the means of managing strategically within it: (1) Global Environment, Uncertainty and Knowledge Development and (2) Cooperation, Trust and Governance.
Rapid and largely unpredictable changes occur exemplified by the recent economic shocks in Asia and Russia and the political changes in Eastern Europe. Works in this volume range from a focus on the central European banking system, to the executive strategic orientations in Chinese state owned enterprises and managerial strategies of western companies in Asia. Furthermore they explain the development and sharing of knowledge to build strategic flexibility.
Cooperative strategies have become quite popular in recent years but there is a high failure rate. Works in this book explore the development of collaborative know how and examine the entrepreneurial opportunities that can be created by alliances to increase resources and develop new capabilities. Developing these new capabilities require that the firm build trust with its partners. This book explores trust in and governance of interorganizational partnerships within several different international contexts, to include Europe, Asia and North America.
Thus, Managing Strategically in an Interconnected World addresses a number of critical issues to successfully navigate in the new frontier and build sustainable competitive advantages.
The new frontier, composed of rapid and unpredictable change and substantial uncertainty, requires new managerial mindsets that emphasize global markets and strategic flexibility and embrace change. To do so requires the harnessing and effective use of information technology (IT). IT affects firm structure and strategy implementation. Implementation processes are critically important to the success of strategic change. The book addresses two major themes, managerial mindsets and the implementation of strategy and strategic change.
Mindsets represent a shared, interconnected mental framework throughout a firm's managerial ranks. It is based on sensemaking that represents an intangible structure in the firm. IT supports sensemaking through linkages in a managerial network and the information that flows through this network. Through the structure and the information that IT provides, it affects a firm's strategic flexibility. Managerial mindsets oriented toward change and flexible IT architecture facilitate organizational transformations.
Implementation processes are particularly important for successful strategic change. A key element in implementation of strategy and strategic change is the managerial reward system. Managerial compensation affects managerial actions (e.g., to promote resource sharing across business units) and the firm's ability to effect change. Similarly, managerial ownership in a firm is often used to align managers' interests with those of the shareholders.
Therefore, New Managerial Mindsets: Organizational Transformation and Strategy Implementation addresses critically important topics relevant to firm success in the changing global competitive landscape.
Ron Sanchez and Aime Heene, John Wiley & Sons; 1998
This book develops new theory and applications for the strategic management of 'learning organizations' and their knowledge assets. Extending the theoretical framework of competence-based strategic management to the analysis of learning and knowledge, the contributors explore strategically important learning processes within and between organizations. New concepts for categorizing strategically important knowledge are introduced, as are new methods for effectively managing a firm's knowledge assets.
There are three important foci in this book. They are: (1) Organizational learning and knowledge management in leading companies. (2) Learning and knowledge management in several industry contexts, including high-tech and software, but also in more traditional industries. (3) The role of learning and knowledge management in strategic management. These topics are highly relevant to managers and to scholars of strategic management, alike.
Aime Heene and Ron Sanchez, John Wiley & Sons; 1997
While industrial organization economics and the resource-based perspectives have brought useful insights to strategy theory and practice, neither offers a complete framework for understanding and managing the dynamics of strategic change in firms or industries. The focus on the competences of firms and the role of competences in shaping competition brings a more dynamic and future-oriented focus to strategy.
This book brings together the central concepts in competence-based strategic management and highlights important new integration of theory and practice. The volume discusses fundamental concepts and current issues in the competence perspective. It explores the dynamics of competence-based competition and investigates processes for managing competences systemically. Contracts also focus on processes for managing the cognitions of decision-makers who will lead changes in organizational competences. Finally, the book concludes with a holistic perspective on competence.
Howard Thomas, Don O'Neal, and Raul Alvarado, John Wiley & Sons, 1997
With competitive success dependent on organizational flexibility with a focused strategic framework, this book focuses on three critically important strategic topics: (1) Competition and core competence including the wide range of competitive strategies available to firms and the importance of core competence to competitive success. (2) Joint ventures and strategic alliances focused on the potential of the strategic alliance as an aid to entering foreign markets. (3) Corporate performance, the ultimate outcome of a firm's strategy, including discussion of corporate restructuring, determinants of economic performance, total value creation and the importance of a coherent view of the firm in a rapidly developing economy.
Howard Thomas, Don O'Neal, and Michel Ghertman, John Wiley & Sons; 1997
With competitive success dependent on strategic issues such as cooperative efforts emphasizing organizational objectives, effective use of resources and managing change, the need for corporations to have explicit strategies is crucial. The contributions of this book focus on three currently crucial strategic conversations: (1) Strategy demonstrating the diversity of research topics in strategy, these chapters include discussions of trust between trade partners, CEO duality, excess capacity, dynamic strategies, distinctive competences and strategic windows. (2) Structure addressing how organizational structure can help/hinder corporate strategy, these chapters demonstrate how change should be implemented including issues such as strategic alliances, cognitive processes, the M-form organization, and a new theory of the firm. (3) Style argues the pervasive and profound effects of management style on the organization from the perspectives of the global manager, government policies, executive education, government leadership, reducing uncertainty/complexity, and gaining management consensus.
Howard Thomas and Don O'Neal, John Wiley & Sons; 1996
What a company might do; could do; wants to do; should do are the four elements which illustrate the integrative nature of strategic management. The key to successful strategy is effective integration of resources, competences, markets, opportunities, organizational structure, culture, environment, innovation, technology, processes, decisions and actions. There are four crucial areas of debate covered in depth in this book. They are: (1) Boards and Governance suggests that no element of strategy is better positioned to influence strategy and its integration than senior management. (2) Competition and Core Competences examines their interdependence and relationship with successful strategy. (3) Organizational Restructuring discusses organizational types, information technology and strategy, managing in a dynamic environment, and measurement of strategic performance. (4) Technology demonstrates relationships among technological change and strategy, structure, culture, and competition; and the relationship between quality and strategy, and integrating technology and marketing strategies.
Howard Thomas, Don O'Neal, and James Kelly, John Wiley & Sons; 1995
The contributions in this volume provide an eclectic and intriguing selection of ideas in Strategic Management. The integration of strategic perspectives exemplifies a number of important issues in strategic management to include restructuring and reorganization, global competition, strategic change, organizational learning, privatization and national renaissance, and complexity and context.
The contributions in this volume provide an interesting and effective integration of strategic perspectives that exemplify many important issues in strategic management. These include: education, strategic intent, competitive dynamics, industry evolution, strategic change, value chains, and globalization.
Gary Hamel and Aime Heene, John Wiley & Sons; 1994
This volume deals with the beginning of a new era in the theory of strategic management. Using a resource-based perspective, the concept of core competence (1) allows a proactive construction of competence, (2) perceives competence as spanning multiple businesses, and (3) observes competition related to the acquisition and development of competence. Contributions to the book consider the competition between strategic issues. Is strategic management about reacting, anticipating or orchestrating all resources towards the realization of the desirable future of the company? Among the various paradigms, the concept of 'core competence' is critical to the field of strategic management. This book shows that it is necessary to have a sound theory of strategic management that has pragmatic relevance, face validity for the business community, and close links to the daily practice of strategic management.
John Hendry, Gerry Johnson, and Julia Newton, John Wiley & Sons; 1993
The contributions in this volume deal with the three important topics in strategic management. They include (1) strategic change, (2) leadership and top teams and (3) strategic thinking, the cognitive processes through which organizations and environments are understood and strategies developed. The focus is on understanding complex relationships and uncertain futures, with an emphasis on challenging management understanding and the tacit knowledge of the organization.
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