Strategic management

How to Create Joint Value

Alliances, partnerships, acquisitions, mergers, and joint ventures are no longer the exception in most businesses—they are part of the core strategy. As managers look to external partners for resources and capabilities, they need a practical roadmap to ensure that these relationships will create value for their firm. They must answer questions like these: Which business combinations do we need? How should we govern them? Will their results justify our investments?

Benjamin Gomes-Casseres explains how companies create value by “remixing” resources with other companies. Based on decades of consulting and academic research, Remix Strategy shows how three laws shape the success of any business combination:

• First Law: The combination must have the potential to create more value than the parties could create on their own. Which elements from each business need to be combined to create joint value?
• Second Law: The combination must be designed and managed to realize the joint value. Which partners best fit our strategic goals? How should we manage the integration?
• Third Law: The value earned by the parties must motivate them to contribute to the collaboration. How will we share the joint value created? Will the returns shift over time?

Supported by examples from a wide range of industries and companies, and filled with practical tools for applying the three laws, this book helps managers design and lead a coherent strategy for creating joint value with outside partners.
Are you just playing—or playing to win?

Strategy is not complex. But it is hard. It’s hard because it forces people and organizations to make specific choices about their future—something that doesn’t happen in most companies.

Now two of today’s best-known business thinkers get to the heart of strategy—explaining what it’s for, how to think about it, why you need it, and how to get it done. And they use one of the most successful corporate turnarounds of the past century, which they achieved together, to prove their point.

A.G. Lafley, former CEO of Procter & Gamble, in close partnership with strategic adviser Roger Martin, doubled P&G’s sales, quadrupled its profits, and increased its market value by more than $100 billion in just ten years. Now, drawn from their years of experience at P&G and the Rotman School of Management, where Martin is dean, this book shows how leaders in organizations of all sizes can guide everyday actions with larger strategic goals built around the clear, essential elements that determine business success—where to play and how to win.

The result is a playbook for winning. Lafley and Martin have created a set of five essential strategic choices that, when addressed in an integrated way, will move you ahead of your competitors. They are:

• What is our winning aspiration?
• Where will we play?
• How will we win?
• What capabilities must we have in place to win?
• What management systems are required to support our choices?

The stories of how P&G repeatedly won by applying this method to iconic brands such as Olay, Bounty, Gillette, Swiffer, and Febreze clearly illustrate how deciding on a strategic approach—and then making the right choices to support it—makes the difference between just playing the game and actually winning.
A Washington Post Bestseller

Three Principles for Managing—and Avoiding—the Problems of Growth

Why is profitable growth so hard to achieve and sustain? Most executives manage their companies as if the solution to that problem lies in the external environment: find an attractive market, formulate the right strategy, win new customers.

But when Bain & Company’s Chris Zook and James Allen, authors of the bestselling Profit from the Core, researched this question, they found that when companies fail to achieve their growth targets, 90 percent of the time the root causes are internal, not external—increasing distance from the front lines, loss of accountability, proliferating processes and bureaucracy, to name only a few. What’s more, companies experience a set of predictable internal crises, at predictable stages, as they grow. Even for healthy companies, these crises, if not managed properly, stifle the ability to grow further—and can actively lead to decline.

The key insight from Zook and Allen’s research is that managing these choke points requires a “founder’s mentality”—behaviors typically embodied by a bold, ambitious founder—to restore speed, focus, and connection to customers:

• An insurgent’s clear mission and purpose
• An unambiguous owner mindset
• A relentless obsession with the front line

Based on the authors’ decade-long study of companies in more than forty countries, The Founder’s Mentality demonstrates the strong relationship between these three traits in companies of all kinds—not just start-ups—and their ability to sustain performance. Through rich analysis and inspiring examples, this book shows how any leader—not only a founder—can instill and leverage a founder’s mentality throughout their organization and find lasting, profitable growth.
For courses in strategy.

A Practical, Skills-oriented Approach to Strategic Management

In today’s economy, gaining and sustaining a competitive advantage is harder than ever. Strategic Management captures the complexity of the current business environment and delivers the latest skills and concepts with unrivaled clarity, helping students develop their own cutting-edge strategy through skill-developing exercises. The Sixteenth Edition has been thoroughly updated and revised with current research and concepts, and added exercises and review questions.

The case version of this text (0134422570 / 9780134422572 Strategic Management: A Competitive Advantage Approach, Concepts and Cases Plus MyManagementLab with Pearson eText -- Access Card Package, 16e) includes 30 new comprehensive, and up-to-date cases designed to help students apply chapter concepts as they develop a strategic plan for each featured company.

Also Available with MyManagementLab®

This title is also available with MyManagementLab–an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

NOTE: You are purchasing a standalone product; MyManagementLab does not come packaged with this content. If you would like to purchase both the physical text and MyManagementLab search for:

013446723X / 9780134467238 Strategic Management: A Competitive Advantage Approach, Concepts Plus MyManagementLab with Pearson eText -- Access Card Package

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0134153790 / 9780134153797 MyManagementLab with Pearson eText -- Access Card -- for Strategic Management: A Competitive Advantage Approach, Concepts 0134153979 / 9780134153971 Strategic Management: A Competitive Advantage Approach, Concepts

For courses in strategy and strategic management.

Core strategic management concepts without the excess.

Just the essentials, Strategic Management and Competitive Advantage strips out excess by only presenting material that answers the question: does this concept help readers analyze real business situations? This carefully crafted approach provides readers with all the tools necessary for strategic analysis.

Also Available with MyManagementLab
Strategic Management and Competitive Advantage is also available with MyManagementLab, an online homework, tutorial, and assessment program that truly engages students in learning. It helps students better prepare for class, quizzes, and exams—resulting in better performance in the course—and provides educators a dynamic set of tools for gauging individual and class progress.

Students, if interested in purchasing this title with MyManagementLab, ask your instructor for the correct package ISBN. Instructors, contact your Pearson representative for more information.

Teaching and Learning Experience

This program will provide a better teaching and learning experience–for you and your students. Here’s how:

Improve Results with MyManagementLab: MyManagementLab delivers proven results in helping students succeed and provides engaging experiences that personalize learning. Help Students Develop Critical Thinking Skills: Proven pedagogy geared towards ensuring students grasp the concepts. Present Specific Issues in a Flexible Format: Each chapter has four short sections that present specific issues in more depth, allowing the professor and the student to adapt the text to their particular needs.
Most companies ignore one of their best opportunities for honing competitive advantage: the opportunity to proactively manage business cycles and macroeconomic turbulence. Despite the profound impact that the business cycle has on the fortunes and fate of so many businesses large and small--and the employees and investors that depend on them--not fa single book offers a comprehensive guide to strategically and tactically managing the business cycle. The Well-Timed Strategy shows how to manage not just the business cycle and industry cycles but also today's unprecedented level of macroeconomic turbulence. Peter Navarro shows how to align every facet of business strategy, tactics, and operations to reflect changing business conditions. Drawing on hundreds of examples, Navarro distills clear, simple management principles for managing economic upswings and downswings. Navarro addresses everything from inventory, production, and supply chain management to marketing, pricing, and long-term capital investment. Navarro presents examples from around the globe, ranging from Broadcom and Cemex to Paccar and Xilinx Chinese real estate developers to U.S. small caps. Clear, concise, and exceptionally readable, The Well-Timed Strategy makes complex macroeconomic forecasting easy to understand -- and even easier to act upon.

Publisher's note - in this book various quotes and viewpoints are attributed to a 'Ron Vara'. Ron Vara is not an actual person, but rather an alias created by Peter Navarro in order to present his views and opinions.

What is strategy? For many it is the application of a theory, model or framework. In this book Spender develops a different creative approach. Emphasizing that firms face uncertainties and unknowns (knowledge gaps) he argues that the core of strategic thinking and processes rests on the organization's leaders developing newly imagined solutions to the opportunities that these uncertainties open up. Drawing on a wide range of ideas from strategy, economics, entrepreneurship and philosophy he stresses the importance of judgment in strategy, and argues that a key element of the entrepreneur and executive's task is to engage chosen uncertainties, develop a language to express and explain the firm's particular business model for dealing with these, and thus create innovation and value. At the same time he shows how the language the strategist creates to do this gives the firm identity and purpose, and communicates this to its members, stakeholders, and customers. In an accessible and engaging style Spender introduces these ideas, and reviews the strategy tools currently available from consultants and academics. Throughout he stresses the uncertainties or knowledge absences that pervade business and make effective strategizing both necessary and valuable. He outlines a structured practice that managers and consultants might chose to follow, not a theory. With appendices on casework, teaching strategy, current strategy texts, and further reading this book makes an important contribution to our understanding of the field and practice of strategy, opening up new approaches for managers, consultants, strategy teachers and students.
Introducing a Powerful New Business Model for Today’s IT

Blogger, speaker, software executive, and bestselling author Jill Dyché has been thinking about leadership a lot lately. Having consulted with business and IT executives with Fortune 500 companies for most of her career, she has heard a common refrain: “What should we do about shadow IT?” She’s decided to address the answer head-on.

With the onslaught of cloud solutions, consumerization of technology, and increasingly tech-savvy business people, it’s time for a manifesto for leaders who recognize—and are nervous about—the demands of the digital age. Whether you’re an executive, department head, or IT manager, The New IT provides an action-ready blueprint for building and strengthening the role of IT in your company—and prescribing IT’s future. Learn how to:

ASSESS your current and future IT profile ALIGN your IT organization with business priorities MAP technology delivery plans according to business priiorities ORGANIZE IT according to your company’s culture and strengths REDEFINE innovation and talent management practices BUILD a stronger and enduring role for IT as a business partner

By using field-tested techniques to align your IT department with your corporate objectives, you can leverage the power of technology across the entire company. The New IT provides a set of tactical and experienced-based frameworks to help you and your colleagues conceive a new roadmap. It also includes real-world case studies and best practices from successful, technology-enabled companies such as Toyota, Merck, Brooks Brothers, Union Bank, and many others. You’ll hear from major industry pioneers, IT thought leaders, and other change agents who are leading the way in this new frontier. And you’ll learn how to bring your business and IT together in a way that is truly transformative.

The new IT is more than computing power. It balances strategy and delivery. It’s interactive and inclusive. It’s as omnipresent as the smart phone and just as revolutionary. It equips you with the tools you need to succeed in reframing the IT conversation and propelling your business forward.

Praise for The New IT

“Jill has penned a de Toquevillean map of the digital world. Should be a required text for every business leader in the country.”
Thornton May, futurist and author of The New Know

“Enterprise IT has reached an inflection point in how services are delivered and consumed, requiring our profession to undertake a transformation of our own. Jill Dyché describes well the challenges we face, how to assess them, and how to take action to complete the journey toward modern enterprise IT.”
Kimberly Stevenson, Vice President and Chief Information Officer, Intel

“Conversational, intuitive, and intelligent, this book goes right to the heart of governance (control), innovation (change), identity (authority), relevance (alignment), and influence (strategy). It’s a timely book that should be read by executives across organizations.”
Peter Marx, Chief Innovation and Technology Officer, City of Los Angeles

“A highly readable, entertaining book that will help CIOs and their executive partners address the ongoing challenge of converting IT from a strategic liability to a strategic asset.”
Peter Weill and Jeanne Ross, MIT Center for Information Research and authors of IT Governance

“Everywhere I go I hear complaints about the old IT. Jill Dyché's book provides a comprehensive roadmap to changing IT to suit our analytical, consumer-driven, bring-your-own-device times!”
Thomas H. Davenport, Distinguished Professor, Babson College, and author of Competing on Analytics and Big Data @ Work

Beat the odds with a bold strategy from McKinsey & Company

“Every once in a while, a genuinely fresh approach to business strategy appears” – legendary business professor Richard Rumelt, UCLA

McKinsey & Company’s newest, most definitive, and most irreverent book on strategy—which thousands of executives are already using—is a must-read for all C-suite executives looking to create winning corporate strategies.

Strategy Beyond the Hockey Stick is spearheading an empirical revolution in the field of strategy. Based on an extensive analysis of the key factors that drove the long-term performance of thousands of global companies, the book offers a ground-breaking formula that enables you to objectively assess your strategy’s real odds of future success.

"This book is fundamental. The principles laid out here, with compelling data, are a great way around the social pitfalls in strategy development.” — Frans Van Houten, CEO, Royal Philips N.V.

The authors have discovered that over a 10-year period, just 1 in 12 companies manage to jump from the middle tier of corporate performance—where 60% of companies reside, making very little economic profit—to the top quintile where 90% of global economic profit is made. This movement does not happen by magic—it depends on your company’s current position, the trends it faces, and the big moves you make to give it the strongest chance of vaulting over the competition.

This is not another strategy framework. Rather, Strategy Beyond the Hockey Stick shows, through empirical analysis and the experiences of dozens of companies that have successfully made multiple big moves, that to dramatically improve performance, you have to overcome incrementalism and corporate inertia.

“A different kind of book—I couldn’t put it down. Inspiring new insights on the facts of what it takes to move a company’s performance, combined with practical advice on how to deal with real-life dynamics in management teams.” —Jane Fraser, CEO, Citigroup Latin America

Jack Welch knows how to win. During his forty-year career at General Electric, he led the company to year-after-year success around the globe, in multiple markets, against brutal competition. His honest, be-the-best style of management became the gold standard in business, with his relentless focus on people, teamwork, and profits.

Since Welch retired in 2001 as chairman and chief executive officer of GE, he has traveled the world, speaking to more than 250,000 people and answering their questions on dozens of wide-ranging topics.

Inspired by his audiences and their hunger for straightforward guidance, Welch has written both a philosophical and pragmatic book, which is destined to become the bible of business for generations to come. It clearly lays out the answers to the most difficult questions people face both on and off the job.

Welch's objective is to speak to people at every level of an organization, in companies large and small. His audience is everyone from line workers to MBAs, from project managers to senior executives. His goal is to help everyone who has a passion for success.

Welch begins Winning with an introductory section called "Underneath It All," which describes his business philosophy. He explores the importance of values, candor, differentiation, and voice and dignity for all.

The core of Winning is devoted to the real "stuff" of work. This main part of the book is split into three sections. The first looks inside the company, from leadership to picking winners to making change happen. The second section looks outside, at the competition, with chapters on strategy, mergers, and Six Sigma, to name just three. The next section of the book is about managing your career—from finding the right job to achieving work-life balance.

Welch's optimistic, no excuses, get-it-done mind-set is riveting. Packed with personal anecdotes and written in Jack's distinctive no b.s. voice, Winning offers deep insights, original thinking, and solutions to nuts-and-bolts problems that will change the way people think about work.

Good Strategy/Bad Strategy clarifies the muddled thinking underlying too many strategies and provides a clear way to create and implement a powerful action-oriented strategy for the real world.
 
Developing and implementing a strategy is the central task of a leader. A good strategy is a specific and coherent response to—and approach for—overcoming the obstacles to progress. A good strategy works by harnessing and applying power where it will have the greatest effect. Yet, Rumelt shows that there has been a growing and unfortunate tendency to equate Mom-and-apple-pie values, fluffy packages of buzzwords, motivational slogans, and financial goals with “strategy.”

In Good Strategy/Bad Strategy, he debunks these elements of “bad strategy” and awakens an understanding of the power of a “good strategy.” He introduces nine sources of power—ranging from using leverage to effectively focusing on growth—that are eye-opening yet pragmatic tools that can easily be put to work on Monday morning, and uses fascinating examples from business, nonprofit, and military affairs to bring its original and pragmatic ideas to life. The detailed examples range from Apple to General Motors, from the two Iraq wars to Afghanistan, from a small local market to Wal-Mart, from Nvidia to Silicon Graphics, from the Getty Trust to the Los Angeles Unified School District, from Cisco Systems to Paccar, and from Global Crossing to the 2007–08 financial crisis.

Reflecting an astonishing grasp and integration of economics, finance, technology, history, and the brilliance and foibles of the human character, Good Strategy/Bad Strategy stems from Rumelt’s decades of digging beyond the superficial to address hard questions with honesty and integrity.
We all know the proverb about teaching someone to fish, but if there are no fish left, knowing how to catch them won’t do you any good. And that’s the position businesses are in today. Resources are being depleted at an alarming rate and the cost of raw materials is rising dramatically. As a result, scholar and entrepreneur Nadya Zhexembayeva says, businesses need to make resource scarcity—the overfished ocean—their primary strategic consideration, not just a concern for their “green” division.

Overfished Ocean Strategyoffers five essential principles for innovating in this new reality. Zhexembayeva shows how businesses can find new opportunities in what were once considered useless by-products, discover resource-conserving efficiencies up and down their value chain, transfer their expertise from physical products to services, and develop ways to rapidly try out and refine these new business models. She fills the book with examples of companies that are already successfully navigating the overfished ocean, from established corporations such as BMW, Microsoft, and Puma to newcomers such as Lush, FLOOW2, and Sourcemap.

The linear, throwaway economy of today—in which we extract resources at one end, create products, and throw them away at the other—is rapidly coming to an end. In every industry, creative minds are learning how to make money by taking this line and turning it into a circle. Nadya Zhexembayeva shows how you can join them and avoid being left high and dry.

The authors of the international bestseller Business Model Generation explain how to create value propositions customers can’t resist

Value Proposition Design helps you tackle the core challenge of every business — creating compelling products and services customers want to buy. This highly practical book, paired with its online companion, will teach you the processes and tools you need to create products that sell.

Using the same stunning visual format as the authors’ global bestseller, Business Model Generation, this sequel explains how to use the “Value Proposition Canvas” to design, test, create, and manage products and services customers actually want.

Value Proposition Design is for anyone who has been frustrated by new product meetings based on hunches and intuitions; it’s for anyone who has watched an expensive new product launch fail in the market. The book will help you understand the patterns of great value propositions, get closer to customers, and avoid wasting time with ideas that won’t work. You’ll learn the simple process of designing and testing value propositions, that perfectly match customers’ needs and desires.

In addition the book gives you exclusive access to an online companion on Strategyzer.com. You will be able to assess your work, learn from peers, and download pdfs, checklists, and more.

Value Proposition Design is an essential companion to the ”Business Model Canvas” from Business Model Generation, a tool embraced globally by startups and large corporations such as MasterCard, 3M, Coca Cola, GE, Fujitsu, LEGO, Colgate-Palmolive, and many more.
Value Proposition Design gives you a proven methodology for success, with value propositions that sell, embedded in profitable business models."

Moving beyond the process of change

Why is change so hard? Because in order to make any transformation successful, you must change more than just the structure and operations of an organization—you need to change people’s behavior. And that is never easy.

The Heart of Change is your guide to helping people think and feel differently in order to meet your shared goals. According to bestselling author and renowned leadership expert John Kotter and coauthor Dan Cohen, this focus on connecting with people’s emotions is what will spark the behavior change and actions that lead to success. Now freshly designed, The Heart of Change is the engaging and essential complement to Kotter’s worldwide bestseller Leading Change.

Building off of Kotter’s revolutionary eight-step process, this book vividly illustrates how large-scale change can work. With real-life stories of people in organizations, the authors show how teams and individuals get motivated and activated to overcome obstacles to change—and produce spectacular results. Kotter and Cohen argue that change initiatives often fail because leaders rely too exclusively on data and analysis to get buy-in from their teams instead of creatively showing or doing something that appeals to their emotions and inspires them to spring into action. They call this the see-feel-change dynamic, and it is crucial for the success of any true organizational transformation.

Refreshingly clear and eminently practical, The Heart of Change is required reading for anyone facing the challenges inherent in leading change.

The Challenge
Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the verybeginning.

But what about the company that is not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness?

The Study
For years, this question preyed on the mind of Jim Collins. Are there companies that defy gravity and convert long-term mediocrity or worse into long-term superiority? And if so, what are the universal distinguishing characteristics that cause a company to go from good to great?

The Standards
Using tough benchmarks, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. How great? After the leap, the good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world's greatest companies, including Coca-Cola, Intel, General Electric, and Merck.

The Comparisons
The research team contrasted the good-to-great companies with a carefully selected set of comparison companies that failed to make the leap from good to great. What was different? Why did one set of companies become truly great performers while the other set remained only good?

Over five years, the team analyzed the histories of all twenty-eight companies in the study. After sifting through mountains of data and thousands of pages of interviews, Collins and his crew discovered the key determinants of greatness -- why some companies make the leap and others don't.

The Findings
The findings of the Good to Great study will surprise many readers and shed light on virtually every area of management strategy and practice. The findings include:

Level 5 Leaders: The research team was shocked to discover the type of leadership required to achieve greatness. The Hedgehog Concept (Simplicity within the Three Circles): To go from good to great requires transcending the curse of competence. A Culture of Discipline: When you combine a culture of discipline with an ethic of entrepreneurship, you get the magical alchemy of great results. Technology Accelerators: Good-to-great companies think differently about the role of technology. The Flywheel and the Doom Loop: Those who launch radical change programs and wrenching restructurings will almost certainly fail to make the leap.

“Some of the key concepts discerned in the study,” comments Jim Collins, "fly in the face of our modern business culture and will, quite frankly, upset some people.”

Perhaps, but who can afford to ignore these findings?

“The 4 Disciplines of Execution is a book every leader should read.” —Clayton Christensen, Professor, Harvard Business School, and author of The Innovator’s Dilemma

For fans of Good to Great and The First 90 Days, The Four Disciplines of Execution is the foundational text for creating lasting organizational change. A #1 Wall Street Journal bestseller with more than 500,000 copies sold, The Four Disciplines of Execution will radically change your business.

Do you remember the last major initiative you watched die in your organization? Did it go down with a loud crash? Or was it slowly and quietly suffocated by other competing priorities? By the time it finally disappeared, it’s likely no one even noticed. What happened?

Often, the answer is that the “whirlwind” of urgent activity required to keep things running day-to-day devoured all the time and energy you needed to invest in executing your strategy for tomorrow. The 4 Disciplines of Execution can change that forever.

The 4 Disciplines of Execution (4DX) is a simple, repeatable, and proven formula for executing your most important strategic priorities in the midst of the whirlwind. By following the 4 Disciplines—Focus on the Wildly Important; Act on Lead Measures; Keep a Compelling Scoreboard; Create a Cadence of Accountability—leaders can produce breakthrough results, even when executing the strategy requires a significant change in behavior from their teams.

4DX is not theory. It is a proven set of practices that have been tested and refined by hundreds of organizations and thousands of teams over many years. When a company or an individual adheres to these disciplines, they achieve superb results, regardless of the goal. 4DX represents a new way to think and work that is essential to thriving in today’s competitive climate. The 4 Disciplines of Execution is one book that no business leader can afford to miss.
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