Strategic Management (2020) is a 343-page open educational resource designed as an introduction to the key topics and themes of strategic management. The open textbook is intended for a senior capstone course in an undergraduate business program and suitable for a wide range of undergraduate business students including those majoring in marketing, management, business administration, accounting, finance, real estate, business information technology, and hospitality and tourism. The text presents examples of familiar companies and personalities to illustrate the different strategies used by today’s firms and how they go about implementing those strategies. It includes case studies, end of section key takeaways, exercises, and links to external videos, and an end-of-book glossary. The text is ideal for courses which focus on how organizations operate at the strategic level to be successful. Students will learn how to conduct case analyses, measure organizational performance, and conduct external and internal analyses.

If you are an instructor reviewing, adopting, or adapting this textbook, please help us understand your use by filling out this form http://bit.ly/strategy-interest

How to Access this Book This text is available in multiple formats including PDF, a low-resolution PDF which is faster to download, Open Document Format (ODT), and ePub. It is also available online in Pressbooks at https://pressbooks.lib.vt.edu/strategicmanagement. Softcover print on demand options are available in color interior (https://www.amazon.com/dp/1949373940) or black & white interior (https://www.amazon.com/dp/1949373894). The main landing page for this book is: https://doi.org/10.21061/strategicmanagement.

Attribution This textbook was adapted for use in Virginia Tech’s Pamplin College of Business capstone course, MGT 4394 Strategic Management, and is shared under a Creative Commons Non-Commercial ShareAlike 3.0 license. It is adapted without attribution to the original 2010 author or publisher at their request. It is adapted from Mastering Strategic Management which was published by the University of Minnesota Publishing in 2015 as an adaptation of the 2010 version. University of Minnesota Publishing reformatted the original text, and replaced some images and figures to make the resulting whole more shareable but did not otherwise significantly alter or update the original 2010 text.

Powerpoint slides are available at http://hdl.handle.net/10919/102735
A testbank only for instructors is also available at http://hdl.handle.net/10919/104179

Instructor Resource Portal in OER Commons
https://www.oercommons.org/groups/strategic-management-instructor-group/5209

Table of Contents
Chapter 1: Mastering Strategy: Art and Science
Chapter 2: Assessing Organizational Performance
Chapter 3: Evaluating the External Environment
Chapter 4: Evaluating the Internal Environment
Chapter 5: Synthesis of Strategic Issues and Analysis
Chapter 6: Selecting Business-Level Strategies
Chapter 7: Innovation Strategies
Chapter 8: Selecting Corporate-Level Strategies
Chapter 9: Competing in International Markets
Chapter 10: Executing Strategy through Organizational Design
Chapter 11: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility
About the Author / Editorial and Production Teams
Version Notes
Glossary

This work is published by Virginia Tech’s Pamplin College of Business in association with Virginia Tech Publishing.

Suggested Citation Kennedy, Reed. (2020) Strategic Management. Blacksburg, VA: Virginia Tech Publishing. https://doi.org/10.21061/strategicmanagement CC BY NC-SA 3.0

Contributors
About the Previous Author
The publisher of the 2010 version of this book requested that they and the original author not receive attribution.

This Version
Primary Contributor: Reed B. Kennedy
Reviewer / Contributors: Eli Jamison, Joseph Simpson, Pankaj Kumar, Ayenda Kemp, Kiran Awate, and Kathleen Manning
Cover Design, Illustration, and Alternative Text; Student Reviewer: Kindred Grey
Research and Editorial Assistant; Student Reviewer: Kathleen Manning
Managing Editor: Anita Walz
Production Editor: Robert Browder
Copyeditors: Grace Baggett, Lauren Holt

ISBN 978-1-949373-94-3 (print-color)
ISBN 978-1-949373-89-9 (print-black & white)
ISBN 978-1-949373-96-7 (ebook-PDF)
ISBN 978-1-949373-95-0 (ebook-Pressbooks)
https://pressbooks.lib.vt.edu/strategicmanagement
DOI: https://doi.org/10.21061/strategicmanagement

Accessibility Virginia Tech Publishing is committed to making its publications accessible in accordance with the Americans with Disabilities Act of 1990. The HTML and screen reader–friendly PDF versions of this book utilize header structures and include alternative text which allow for machine-readability.

This course focuses on the entrepreneurial phases associated with start-up and management of small business. This course will teach future entrepreneurs and managers to recognize opportunities and to use effective entrepreneurial and small business management practices.

Course Outcomes:
1. List and discuss the characteristics of successful entrepreneurs.
2. Analyze new business opportunities that exist in the marketplace.
3. Evaluate the feasibility of pursuing an opportunity that you’ve recognized.
4. Develop a business plan that includes both conceptual and technical components.
5. Identify and discuss obstacles to entrepreneurial success.
6. Identify the resources and financing necessary to start an entrepreneurial venture.
7. Discuss organizational characteristics and best management practices for start-up companies.

Adapted Edition

Short Description:
Mastering Strategic Management is designed to enhance student engagement in innovative ways.

Long Description:
Teaching strategic management classes can be a very difficult challenge for professors. In most business schools, strategic management is a “capstone” course that requires students to draw on insights from various functional courses they have completed (such as marketing, finance, and accounting) to understand how top executives make the strategic decisions that drive whether organizations succeed or fail. Many students have very little experience with major organizational choices. This undermines many students’ engagement in the course.

Our book is designed to enhance student engagement. A good product in any industry matches what customers want and need, and the textbook industry is no exception. It is well documented that many of today’s students are visual learners.

Word Count: 117043

ISBN: 978-1-998755-87-5

(Note: This resource's metadata has been created automatically by reformatting and/or combining the information that the author initially provided as part of a bulk import process.)

TED Studies, created in collaboration with Wiley, are curated video collections — supplemented by rich educational materials — for students, educators and self-guided learners. In Leading Wisely, speakers share powerful insights about leaders across a wide range of fields and domains who inspire great results from their teams. Great management in a turbulent global economy has never been so important. Relevant areas of interest, study and coursework include: 

This paper serves as an exploration into some of the ways in which organizations can promote, capture, share, and manage the valuable knowledge of their employees. The problem is that employees typically do not share valuable information, skills, or expertise with other employees or with the entire organization. The author uses research as well as her graduate studies in the field of Human Resource Development (HRD) and professional career experiences as an instructor and training and development consultant to make a correlation between the informal workplace learning experiences that exist in the workplace and the need to promote, capture, and support them so they can be shared throughout the organization. This process, referred to as knowledge sharing, is the exchange of information, skills, or expertise among employees of an organization that forms a valuable intangible asset and is dependent upon an organization culture that includes knowledge sharing, especially the sharing of the knowledge and skills that are acquired through informal workplace learning; performance support to promote informal workplace learning; and knowledge management to transform valuable informal workplace learning into knowledge that is promoted, captured, and shared throughout the organization.

This textbook teaches management principles to tomorrow’s business leaders by weaving three threads through every chapter: strategy, entrepreneurship and active leadership.

This book's modular format easily maps to a POLC course organization (Planning, Organizing, Leading, and Controlling, attributed to Henri Fayol (1949, General and industrial management. London. Pitman Publishing company), and suits the needs of most undergraduate or graduate course in Principles of Management.

In GEOG 871, we'll take a critical look at geospatial project management. Project management is a broad discipline that encompasses technical methods such as system design and analysis and also interpersonal factors that affect professional relationships. Project management is also a discipline that has matured outside of, but can be incorporated into, geospatial technology. By the end of this course, you'll have devised a project plan from a scenario built upon a real-life project involving the city of Metropolis geodatabase. We'll work through each of the components in an organized and logical manner and will incorporate constructive peer review to help everyone achieve the best product possible.

The fact of scarcity forces individuals, firms, and societies to choose among alternative uses – or allocations – of its limited resources. Accordingly, the first part of this summer course seeks to understand how economists model the choice process of individual consumers and firms, and how markets work to coordinate these choices. It also examines how well markets perform this function using the economist's criterion of market efficiency.
Overall, this course focuses on microeconomics, with some topics from macroeconomics and international trade. It emphasizes the integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing U.S. and international business environments.

Short Description:
STRATEGIC MANAGEMENT offers an introduction to the key topics and themes of strategic management. The authors draw on examples of familiar companies and personalities to illustrate the different strategies used by today’s firms—and how they go about implementing those strategies. Students will learn how to conduct a case analysis, measure organizational performance, and conduct external and internal analyses. In short, they will understand how organizations operate at the strategic level to be successful. Pamplin College of Business in association with Virginia Tech Publishing

Long Description:
Why do some companies outperform others? In a dynamic and competitive business environment, the answer to this question can be the difference between success and failure. Firms that are successful generally have a strategic management process that helps them set goals and execute on a clear vision. This textbook offers an introduction to the key topics and themes of strategic management. The authors draw on examples of familiar companies and personalities to illustrate the different strategies used by today’s firms—and how they go about implementing those strategies. Students will learn how to conduct a case analysis, measure organizational performance, and conduct external and internal analyses. In short, they will understand how organizations operate at the strategic level to be successful.

Strategic Management is intended for a wide range of business students including those majoring in marketing, management, business administration, accounting, finance, real estate, business information technology, and hospitality and tourism. It is ideal for a senior capstone course in an undergraduate business program. It is available online for free in multiple formats and also as an affordable print editions.

Publication of this book was made possible in part due to generous support from the Open Education Initiative at the University Libraries and the Pamplin College of Business at Virginia Tech.

Word Count: 111905

ISBN: 978-1-949373-95-0

(Note: This resource's metadata has been created automatically by reformatting and/or combining the information that the author initially provided as part of a bulk import process.)

The Strategic Management Test Bank includes 782 peer-reviewed, multiple-choice questions which correspond to topics taught in undergraduate, capstone-level business open textbook, Strategic Management (2020), freely available (CC BY-NC-SA) at http://hdl.handle.net/10919/99282. Between 48-98 multiple-choice items are available for each chapter and cover: mastering strategy, assessing organizational performance, evaluating the external environment, evaluating the internal environment, synthesis of strategic issues and analysis, selecting business-level strategies, innovation strategies, selecting corporate-level strategies, completing in international markets, executing strategy through organizational design, and leading an ethical organization. Question items are also identified by subsection (e.g. 1.1, 1.2, etc.) of Strategic Management.

TEST BANK DEVELOPMENT
This peer-reviewed, copyedited test bank was made possible in part by the Open Education Initiative of the University Libraries at Virginia Tech and the Cleveland State University Affordable Learning @ CSU Initiative. It was developed and reviewed by students and faculty at Virginia Tech and Cleveland State University. For further information on our process, see "About_the_Test_Bank.pdf" located at http://hdl.handle.net/10919/104179 on the left-hand side.

INSTRUCTIONS FOR TEST BANK ACCESS
The test bank is available only to instructors who have adopted Strategic Management in their course and agree to the terms of use. Please complete the steps listed at http://hdl.handle.net/10919/104179.

Managing Change in Healthcare Implementations: an Introduction was created for managers preparing to implement health information and communication technology (HICT) systems in their organizations€hospitals, clinics, or government departments. The module presents a framework for understanding how HICT implementations affect organizations and individual workers and shares basic information on how to manage change to an organization so as to promote a positive outcome, and how to avoid the pitfalls that occur.

Short Description:
Mastering Strategic Management is designed to enhance student engagement in innovative ways.

Long Description:
Teaching strategic management classes can be a very difficult challenge for professors. In most business schools, strategic management is a “capstone” course that requires students to draw on insights from various functional courses they have completed (such as marketing, finance, and accounting) to understand how top executives make the strategic decisions that drive whether organizations succeed or fail. Many students have very little experience with major organizational choices. This undermines many students’ engagement in the course.

Our book is designed to enhance student engagement. A good product in any industry matches what customers want and need, and the textbook industry is no exception.

Word Count: 116956

ISBN: 978-1-998755-26-4

(Note: This resource's metadata has been created automatically by reformatting and/or combining the information that the author initially provided as part of a bulk import process.)

This course approaches "managing the innovation process" through five levels of analysis: individual, team, network, organizational, and industrial. At each level of analysis, particular attention is given to the conditions under which innovation processes succeed and fail. The weekly readings consist of a mixture of book chapters, journal articles, and cases, and an online forum will be used for further discussion of the required readings outside of class. Tuesday classes will begin with a reflection exercise that entails critical thinking about the topic for the week, followed by an activity and lecture introducing material found both within and outside of the readings. Thursday classes will begin with a case analysis completed in small groups, followed by a discussion based on the issues raised in the case and online forum. The primary goal of the course is to expose students to a variety of perspectives on innovation, while building on past work experiences and preparing for work experiences in the future.

This module defines basic concepts related to the ethics of data use, compares the ethics of using clinical and research data, and reviews key ethical guidelines and regulations. The module explains why U.S. regulations are relevant for data managers outside the U.S. The module outlines how key ethics concepts affect data retention, sharing, security, ownership, and analysis as well as publication of research results.

15.768 Management of Services: Concepts, Design, and Delivery explores the use of operations tools and perspectives in the service sector, including both for-profit and not-for-profit organizations. The course builds on conceptual frameworks and cases from a wide range of service operations, selected from health care, hospitality, internet services, supply chain, transportation, retailing, food service, entertainment, financial services, humanitarian services, government services, and others.

Evaluation and Execution

Short Description:
Mastering Strategic Management is designed to enhance student engagement in three innovative ways. The first is through visual adaptations of the key content in the book. It is well documented that many of today’s students are visual learners. To meet students’ wants and needs (and thereby create a much better teaching experience for professors), Mastering Strategic Management contains multiple graphic concept pages in ever section of every chapter of the book. Think of graphic concept pages as almost like info-graphics for key concepts in each section. This feature sets Mastering Strategic Management apart from any strategic management book on the market today. The second way the authors capture student interest through their textbook is by using a real-world company as the running example in each chapter. For example, Chapter 1 in Mastering Strategic Management utilizes Blackberry to harness the conceptual coverage of the chapter in a running, corporate, application to which students will relate. The third inventive way Mastering Strategic Management holds the attention of strategic management students is through the “strategy at the movies” feature in each chapter that links course concepts with a popular motion picture.

Long Description:
Teaching strategic management classes can be a very difficult challenge for professors. In most business schools, strategic management is a “capstone” course that requires students to draw on insights from various functional courses they have completed (such as marketing, finance, and accounting) to understand how top executives make the strategic decisions that drive whether organizations succeed or fail. Many students have very little experience with major organizational choices. This undermines many students’ engagement in the course.

Our book is designed to enhance student engagement. A good product in any industry matches what customers want and need, and the textbook industry is no exception. It is well documented that many of today’s students are visual learners. To meet students’ wants and needs (and thereby create a much better teaching experience for professors), our book offers the following: Several graphic displays in each chapter that summarize key concepts in a visually appealing format. Chapter 1 “Mastering Strategy: Art and Science”, for example, offers graphic displays on (1) the “5 Ps” of strategy; (2) intended, emergent, and realized strategies; (3) strategy in ancient times; (4) military strategy; and (5) the evolution of strategic management as a field of study. The idea for the graphic displays was inspired by the visually rich and popular series on business published by DK Publishing. Rich, illustrative examples drawn from companies that are relevant to many students. As part of our emphasis on examples, the chapters use several companies as examples to bring various concepts to life. In Chapter 1 “Mastering Strategy: Art and Science”, Apple is used as the ongoing example. A “strategy at the movies” feature in each chapter that links course concepts with a popular motion picture. In Chapter 1 “Mastering Strategy: Art and Science”, for example, we describe how The Social Network illustrates intended, emergent, and realized strategies.

Word Count: 116711

ISBN: 978-1-77420-009-4

(Note: This resource's metadata has been created automatically by reformatting and/or combining the information that the author initially provided as part of a bulk import process.)

This course covers organizational, strategic and operational aspects of managing Supply Networks (SNs) from domestic and international perspectives. Topics include alternative SN structures, strategic alliances, design of delivery systems and the role of third party logistics providers. Many of the activities exchanged among enterprises in a SN are of a service nature, and the final output is often a combination of tangible products and services which the end-customer purchases. A series of concepts, frameworks and analytic tools are provided to better understand the management of service operations. Guest speakers share their experiences in managing SNs and services. Restricted to MIT Sloan Fellows in Innovation and Global Leadership.

The course helps you identify information-bearing events, assess and improve process efficiency, learn to model and analyze business processes, recognize probabilistic components of business processes, and understand the interactions between human behavior and process design. Hands-on, case-based course work allows you to practice some of the principles addressed. You will demonstrate the ability to utilize business computer applications.
Course Outcomes:

Conceptualize business operations as processes.
1. Model simple business processes in terms of the actors and activity sequences involved, the data flowing through those sequences and the dependencies between data and business activities.
2. Recognize probabilistic components of business processes and assign distributions to these components.
3. Characterize business processes in terms of their key operations characteristics; e.g.,productivity, efficiency, service quality, sustainability, time and costs associated with waiting, material volume and service/product customization.
4. Formulate improvements to observed processes and estimate the effects of these improvements with the help of simulation.
5. Identify the role of information systems in business processes; e.g., recognize and specify where information technology can be applied; recognize the role of Enterprise Resource Planning (ERP) systems.
6. Recognize the interdependence of business processes within and across organizational boundaries.

These six interactive modules help researchers, data stewards, managers and the public gain an understanding of the value of data management in science and provide best practices to perform good data management within their organization.

Acknowledgments
The USGS Data Management Training modules were funded by the USGS Community for Data Integration and the USGS Office of Organizational and Employee Development's Technology Enabled Learning Program in collaboration with Bureau of Land Management, California Digital Library, and Oak Ridge National Laboratory. Special thanks to Jeffrey Morisette, Dept. of the Interior North Central Climate Science Center; Janice Gordon, USGS Science Analytics and Synthesis; National Indian Programs Training Center; and Keith Kirk, USGS Office of Science Quality Information.

Cite: U.S. Geological Survey, 2021, USGS Data Management Website: U.S. Geological Survey, https://doi.org/10.5066/F7MW2G15.

This course uses the textbook OpenStax Organizational Behavior: https://openstax.org/details/books/organizational-behavior

Course Description
This discussion course explores how various characteristics of individual workers, the groups they are part of, and organizational characteristics affect worker productivity. Included are personality and attitude, workgroup norms and makeup, and organizational structure, job design, and leadership.

Learning Outcomes
Apply an understanding of individual and team behavior to promote productivity and positive team relationships in a constantly changing work environment.
Utilize an understanding of the impact an organization's structure and culture has on effectively managing workgroups in creating and sustaining a motivating climate.
Apply effective change management skills to integrate procedural and technological changes within the workforce, while minimizing the negative impact on productivity.
Anticipate and adjust to environmental changes like globalization, increasing workforce diversity, and changes in technology to make effective management decisions.
Utilize principles of effective organizational development to advance career opportunities in management and supervision.