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Full Download pdf of (eBook PDF) Strategic Management and Competitive Advantage: Concepts and Cases 6th Edition all chapter
Full Download pdf of (eBook PDF) Strategic Management and Competitive Advantage: Concepts and Cases 6th Edition all chapter
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SIXTH EDITION
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Part 1: THE TOOLS OF STRATEGIC ANALYSIS
••
VI I
viii Contents
End-of-Part 1 Cases
Case 1-1: Can SodaStream Disrupt the Carbonated Case 1-3: Walmart Stores, Inc. PC 1-26
Soft Drink Market? PC 1-1 Case 1-4: Harlequin Enterprises: The Mira
Case 1-2: True Religion Jeans: Flash in the Decision PC 1-39
Pants or Enduring Brand? PC 1-11
The Value of Strategic Flexibility 158 Organizing to Implement Strategic Flexibility 173
Incorporating Risk in Strategic Decision Making 159 Ethics and Strategy Feature: Treating Employees as
Limitations of Risk Based Decision Making Under Flexible A ssets 174
Uncertainty 159 Summary 175
Valuing Flexibility 160 Challenge Questions 175
Strategy in Depth: The Black-Scholes Model for Valuing Problem Set 176
Financial Options 161 End Notes 177
Research Made Relevant: The Value of Real Options
Thinking 169
x Contents
End-of-Part 2 Cases
Case 2-1: McDonald's: Comeback in the U.S. Burger Case 2-4: Ryanair The Low Fares
Market? PC 2-1 Airline PC 2-24
Case 2-2: The Levi's Personal Pair Proposal PC 2-7 Case 2-5: Torrey Nano, Inc. PC 2-48
Case 2-3: Papa John's International, Inc.: Growth Case 2-6: Collusion in Major League Baseball PC 2-52
Challenges PC 2-17
End-of-Part 3 Cases
Case 3-1: National Hockey League Enterprises Case 3-4: Aegis Analytical Corporation's Strategic
Canada: A Retail Proposal PC 3-1 Alliances PC 3-31
Case 3-2: Starbucks: An Alex Poole Strategy Case 3-5: Activision's Crush on Mobile
Case PC 3-6 Gaming PC 3-41
Case 3-3: Rayovac Corporation: International
Growth and Diversification Through
Acquisitions PC 3-19
CHAPTER
What Have We Dropped
Flexibility and Real
Two elements have most obviously been dropped from this
edition . In both cases, this decision was made, not because
Options
these are unimp ortant topics, but rather, because they are so
important that non-strategic managemen t text books have LEARNING OBJECTIVES
been w ritten to ad dress them. After reading this chapter, you should be able to:
6.1 Define strategic flexibility and real options.
6.2 Specify the conditions under which strategic flexibility and real options will be valu-
• The ''Strategy in the Emerging Enterprise'' feature in each able for firms.
6.3 Iden tify when strategic flexibility and real options can be a sou rce of sustained com-
chapter has been dropped. As entrepreneurship teach- petitive advantage.
6.4 Iden tify the organizational challenges associated V>'i th implementing strategic flexibil-
ing has become more important, these topics have been ity and a real options s trategy.
By d ropping these two topics, we were able to add two new to do with how Netflix distributed its DVDs. A better name for Netflix might have been
"Mailfl ix" or "Letterflix."
chapters to this edition, while keeping the length of the book In fact, Netflix was very successful at this DVD by mail distribution model. By 2000,
it was challenging the leader in the DVD rental business-Blockbuster. Blockbuster had
more or less the same. reta il stores that consumers would visit to rent DVDs. They wou ld also have to return
these DVDs to the same store. Having DVDs delivered through the mail eliminated these
• Chapter Six: Flexibility and Real Options. This chap- two trips and, except for delays whi le rented DVDs were sent through the mail, was
infinitely more convenient than renting DVDs at reta il stores.
ter summarizes the latest theoretical an d empirical In the late 1990s, Blockbuster had tried to duplicate Netflix's DVD distribution
model. It fa iled. Apparently, the fu lfillment logistics in the DVDs by mail business-
work on the value of strategic flexibility. It describes though perfected by Netflix-were very difficult for Blockbuster to imitate. Rather than
the settings under w hich flexibility w ill create value, trying to duplicate Netflix, in 2000 Blockbuster tried to buy Netflix for $50 million. The
founders of Netflix-Reed Hastings and Marc Randolph-decl ined the offer. Instead,
and how that value can be estimated . Netflix continued its operations in the DVD renta l business, continuously exceeded
•••
XI 11
xiv Preface
We also contin ue to integrate the latest theory and empirical research into
VR I O
the text but in a way that helps studen ts ap ply these concep ts in a real world
setting. Consider ju st two examples: V RI O
Mylab Management
Reach every student by pairing this text with MyLab Management
MyLab is the teaching and learning platform that empowers you to reach every student.
By combining trusted author content with d igital tools and a flexible platform, MyLab per-
sonalizes the learning experience and improves results for each student. Learn more about
MyLab Management.
help with the media supplements that accompany this text. Visit https://support.pearson
.com/getsupport for answers to frequently asked questions and toll-free user support phone
numbers.
This program comes with the following teaching resources.
PowerPoint Presentations authored by Ram • Slides include graphs, tables, and equations from the
Subramanian from the University of Florida textbook.
• PowerPoints meet accessibility standards for studen ts
with disabilities. Features include, but not limited to:
• Keyboard an d Screen Reader access
• Alternative text for images
• High color contrast between background and fore-
ground colors
Test Bank authored by Ram Subramanian from Over 1000 true/ false, multiple choice, short answer
the University of Florida questions with these annotations:
• Difficulty level (1 for straight recall, 2 for some
analysis, 3 for complex analysis)
• Section number and name
• Learning objective
• Application type
• AACSB learning standard (Ethical Understanding and
Reasonin g; Analytical Thinking; Information Tech-
nology; Diverse and Multicultural Work; Reflective
Thinking; Application of Knowledge)
The following people were helpful in the development of this edition of the text: Stephanie
Wall, Director of Portfolio Management; Neeraj Bhalla, Senior Sponsoring Editor; Sugandh
Jun eja, Content Producer; Melissa Feimer, Man aging Producer; Becky Brown, Senior
Product Marketer; and Liza Maria Borja, Shylaja.G, and Sreemeenakshi R, Project Managers
at SPi Global.
Fin ally, this b ook would have never been finished without Tresa Fish. Thanks for
everything, Tresa.
•
XIX
JAY B. BARNEY I Didn't Learn at Business School: How Strategy Works in the
Real World (with Trish Gorman). He has p ublished some
Jay Barn ey is cu rrently a of the most w idely cited p ap ers in the field of strategic
P r esiden tial Professor o f management.
Strategic M anagement and Professor Barney has won several awards for his research
h olds the Lassonde Ch air in an d w riting, in clu d ing the Irwin Ou tstandin g Educator
Social Entrepreneurship at the Award for the Business Policy and Strategy Division of the
Eccles School of Business at the Academy of Management, the Scholarly Con trib utions
University of Utah. He received Award for the Academy of Management, and three honor-
his undergraduate degree from ary doctoral degrees from Lund University (Sweden), the
Brigham Young University, and Copenhagen Business School (Denmark), and Universid ad
his master 's an d Ph .D. d egrees Pon tifica Comillas (Spain). He h as also been elected to
from Yale University. Previous!~ the Academy of Managemen t Fellows an d the Strategic
he served on the faculties at the Anderson Graduate School Management Society Fellows and has won teaching awards
of Management at UCLA, the Mays Sch ool of Business at at UCLA, Texas A&M, and Ohio State.
Texas A&M University, and as the Chase Chair for Excellence Professor Barney has also served as an officer of the
in Strategic Management at the Fisher College of Business Business Policy and Strategy Division of the Academy of
at the Ohio State University. He has also served as a visiting Management, as a member of the board and later an officer of
scholar at INSEAD in Fontainebleau, France and as a visiting the Strategic Management Society, as an Associate Editor at the
professor at the Said Business School at Oxford University, Journal ofManagement, as a Senior Editor at Organization Science,
United Kingdom. as a Co-editor at the Strategic Entrepreneurship Journal, and cur-
Most of Professor Barney's research focuses on how rently serves as Editor at the Academy ofManagement Review.
firms can gain and sustain competitive advantages. He has Professor Barney consults with companies and other
published over 100 articles in a variety of outlets, includ- organizations to help identify and leverage their sources of
ing the Harvard Business Review, the Sloan Management sustained competitive advantage. His over 50 clients have
Review, the Strategic Management Journal, the Academy of included Honeywell, Hewlett Packard, Texas Instrumen ts,
Management Review, the Academy of Management Journal, Koch Industries, Nationwid e Insurance, Card inal Health,
and has p ublished six books, including a novel titled What and Columbus Public Schools.
xx
•
About the Authors XXI
Vice-President and President of the faculty at the David of the Student's Choice Award. He has also received the out-
Eccles School of Business at the University of Utah. He standing teacher awards in both the EMBA and PhD pro-
was a founding member of the Strategic Human Capital grams at the David Eccles School of Business.
Interest Group in the Strategic Management Society as Professor Hesterly has served as a consultant to Fortune
well as a co-founder of the Utah-BYU Winter Strategy 500 firms in the electronic, office equipment, paper, telecom-
Conference. munications, energy, aerospace, and medical equipment in-
Professor Hesterly has been recognized multiple times dustries. He has also consulted with smaller firms in several
as the outstanding teacher in the MBA Program at the David other industries. He has taught in a variety of executive pro-
Eccles School of Business and he has also been the recipient grams, both in universities and corporations.
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