Description For undergraduate and graduate level Strategic Management courses. Get straight to the heart of important strategic management concepts. This brief text offers a concise explanation of the most important concepts and techniques in strategic management. Further, cases and simulations are a perfect supplement to Essentials of Strategic Management, while its brevity also makes it suitable for use in corporate and executive training programs. This edition contains new information to reflect the latest changes in the discipline while remaining brief and to the point. For undergraduate and graduate level Strategic Management courses. Get straight to the heart of important strategic management concepts.

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This brief text offers a concise explanation of the most important concepts and techniques in strategic management. Further, cases and simulations are a perfect supplement to Essentials of Strategic Management, while its brevity also makes it suitable for use in corporate and executive training programs. This edition contains new information to reflect the latest changes in the discipline while remaining brief and to the point. Get straight to the point: The brevity of this text keeps all the most important information at the forefront of your course. Provide an accessible organization of information: • The Strategic Decision-making Model—based on the underlying processes of environmental scanning, strategy formulation, strategy implementation, and evaluation and control—is presented in chapter 1 and provides an integrated framework for readers to follow throughout the book. • The Resource-based View of the Firm (including Barney’s VRIO framework) is presented in chapter 4 and serves as a foundation for organizational analysis.

Sections on business models and value chain analysis are also used to assess a company’s strengths and weaknesses and to identify core and distinctive competencies. Make learning and studying easier: • Chapter opening vignettes appear at the beginning of each chapter where they help illustrate the coming material and reinforce the concepts that have already been discussed. • Every chapter also concludes with a list of key terms and a set of discussion questions—useful for studying purposes and for assessing knowledge before moving on to the next chapter. Stay on the cutting-edge: The fifth edition addresses many new topics, and includes updated data and illustrations.

Examples of new material include: • Contrasting the agency theory with the stewardship theory. • Increased material on sustainability and moral relativism. • PESTEL analysis has been added to environment scanning. • A discussion of brands has been added to the material on marketing resources. • Open innovation has been added to the discussion of R&D strategy.

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Synopsis • 'Essentials of Strategic Management' responds head-on to the growing requests by business faculty for a concisely-written strategic management text that s robust and theory-driven and supported with a compelling collection of cases. This text was written with four objectives in mind: 1) Although relatively brief in length, the text provides students with an up-to-date and thorough understanding of essential strategic management concepts and analytic tools; 2) It simplifies the task of demonstrating student learning through course embedded assessment; 3) The concepts are supported by contemporary, well-written cases involving headline strategic issues; and lastly, 4) The text serves as the theoretical foundation of a teaching approach incorporating a business strategy simulation.'