Understanding Strategic Management

Understanding Strategic Management is the ideal introduction to strategy for students who require a concise, informative and practical approach. The book's four-part structure defines the concept of strategy, before using the overarching strategic framework of analysis, formulation, and implementation to show how strategy can be used to develop a sustainable competitive advantage in business.The author conveys the realities of strategic management through diverse, international and contemporary examples, while Strategy in Focus boxes use examples from popular media to show strategic management issues at work in the headlines we read every day. A longer, integrated case study in every chapter ties together multiple strategic challenges that affect businesses large and small, public and private. Review and discussion questions then encourage students to be critical of the material and juxtapose alternative concepts and frameworks to evaluate their strengths and weaknesses.Students may extend their learning with additional material available as part of the online resources. Written by the author to build seamlessly on the book, Extension Material is signposted from every chapter, providing further depth on a specific topic where required. Multiple choice questions are also signposted at the end of every chapter, encouraging students to test their knowledge and understanding.NEW TO THIS EDITIONNew content on corporate social responsibility in chapters 4 and 11 explores environmental, social and corporate governance issues; and business ethics.Coverage of key theories and concepts have been significantly revised to aid student understanding and application, including PESTLE, Porter's 5 Forces, SWOT analysis, Blue Ocean Strategy, value innovation, and mergers and acquisition.Half the case studies and Strategy in Focus boxes are new, showcasing a greater international breadth of organizations. New examples include Saudi Aramco's move away from the oil and gas industry, Northvolt and Norsk Hydro's joint recycling venture, and LG Chem's battery production.Additional diagrams have been added across the chapters to illustrate key topics and aid student understanding of key theories and concepts.Available for students and institutions to purchase in a variety of formats, and is supported by online resources.