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This open access book focuses on explaining differences amongst organizations regarding various attributes, forms, and outcomes. By focusing on the “how” of new venture creation and management to produce well-established organizations, the authors aim to increase our understanding of the antecedents of most management research assumptions. New ventures are the source of most newly created jobs generated in an economy, new industries and markets, innovative products and services, and new solutions to economic, social, and environmental problems. However, most management research assumes a well-established organization as the starting point of their theorizing. Building on the notion of guided attention, it details how entrepreneurs can allocate their transient attention to identify potential opportunities from environmental change and how entrepreneurs allocate their sustained attention to form beliefs about radical and incremental opportunities requiring entrepreneurial action. The authors explain how entrepreneurs build such communities and engage community members over time to co-construct potential opportunities for new venture progress. Using the lean startup framework, they connect the dots between the theorizing on identifying and co-constructing potential opportunities and the startup of new ventures. This leads to a new overarching framework based on are (1) co-creating a startup, (2) organizing a startup, and (3) performing a startup to bring together the many disparate threads of research on new ventures. The authors then theorize on the importance of knowledge in organizational scaling. Based on cutting-edge research from the leading entrepreneurship journals, this book expands knowledge on the cognitive aspect of the new venture creation process.
Introduce your students to strategic management with the market-leading text that sets the standard for the most complete, relevant presentation. Written by highly respected experts and prestigious instructors, Hitt, Ireland and Hoskissons, STRATEGIC MANAGEMENT: COMPETITIVENESS AND GLOBALIZATION, CONCEPTS AND CASES, 10E provides an intellectually rich, yet thoroughly practical, analysis of strategic management today. This unique text is the only one that integrates the classic industrial organization model with a resource-based view of the firm to give students a complete understanding of how today's businesses use strategic management to establish a sustained competitive advantage. The authors combine the latest, cutting-edge research and strategic management trends with ideas from some of today's most prominent scholars. A strong global focus and carefully selected examples from more than 600 emerging and established companies place ideas into context within an inviting, practical presentation. A wealth of learning features, experiential exercises and more than 30 all-new compelling cases examine a broad range of critical issues confronting managers today. Engaging, updated video cases, CNOW online teaching tools, and a complete electronic business library help keep issues current and relevant. STRATEGIC MANAGEMENT: COMPETITIVENESS AND GLOBALIZATION provides the solid understanding your students need to effectively apply strategic management tools and techniques to increase performance and their organization's competitive advantage. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
Vittorio Coda's discussion of the goals and purpose of the business enterprise illuminates the long-running debate over the goals of the firm. His conceptualization of the firm and its relationships within society transcends stale arguments over shareholders versus stakeholders by viewing the firm less as an agent of individual interests and more as an engine of social development that unifies the interests of the different participants. In articulating a model of the entrepreneurial firm embedded in a social system and a values system based upon notions of fairness and social responsibility, Coda offers an original approach to interpret the business system. The view of a socially-responsible, entrepreneurial, business sector surfacing in this book offers an attractive alternative to most of the prevailing models of market capitalism that have attracted criticism over the past decades.
This book is concerned with strategy formulation issues in the relatively neglected field of entrepreneurial firms. It raises questions, such as what is the strategic role of entrepreneurship in small businesses? How does the top management in small firms perceive the processes associated with strategy formulation? How are business strategies formulated and implemented in SMEs and importantly, are there lessons that can be learnt by large corporations from the smaller ones? Using a sample covering a wide range of entrepreneurial firms in the UK, the author addresses the lack of strategic thinking in the management of small firms and provides recommendations for effective strategic management processes.
This managerial book goes beyond the traditional thoughts on this subject. It brings you a challenging dimension: Create an entrepreneurial organization and you will exceed in the realization of your goals and objectives. The entrepreneurial organization thrives on developing innovation, customer retention, productivity, and growth. Your role and that of other managers has changed dramatically in the last decade because two powerful new forces have joined in the environment. A new social awareness and demographic shift in the work force coupled with a shrinking of markets in a technological and global landscape demands new ways of planning, organizing, and directing organizations. ESM argues the need for implementation as the force majeure in fulfilling strategic plans and the engagement of the whole organization in strategic management to achieve organizational goals. Inside, you’ll be introduced to a new approach to understanding the economic marketplace in four quadrants or fields where each determines what strategic responses are needed to thrive in those fields and which direction the organization is to go if it is to survive and grow. This book lays out the cycle of corporate products and services from profitable innovation to decline and failure and offers the executive a road map to renovate and build the organization.
Strategic Management (2020) is a 325-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.
Emphasising that firms face uncertainties and unknowns, this book argues that the core of strategic thinking and processes rests on the organization and its leaders developing newly imagined solutions to the opportunities that these uncertainties open up. It presents new approaches for managers, consultants, strategy teachers and students.
In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This M&A action was merely the latest in a growing trend of "blockbuster" mergers over the past several years. Once a phenomenon seen primarily in the United States, mergers and acquisitions are increasingly being pursued across national boundaries. In short, acquisition strategies are among the most important corporate-level strategies in the new millennium. The need for clear, complete, and up-to-date guide to successful mergers and acquisitions had never been greater. This book more than fills that need. Looking at successful--and unsuccessful--mergers and acquisitions in a number of different industries, Mergers and Acquisitions: A Guide to Creating Value explains how to conduct an acquisition and how to avoid pitfalls that have doomed many such ventures. The authors take the reader step-by-step through the process, starting with the elements of a successful merger, due diligence to ensure that the target firm is sound and fits well with the acquiring firm, and how mergers and acquisitions are financed. They move on to explore how firms find partners/targets for acquisitions that have complementary resources and how to find partners with which integration and synergy can be achieved. Finally, they discuss the potential hazards found in M&A's and how to avoid them, how to conduct successful cross-border acquisitions, and how to ensure that ethical principles aren't breached during the process. Based on 15 years of research, this essential guide goes beyond specific case studies to cover all aspects of these ventures, making it required reading for all managers seeking to build a successful strategy.
Behavioral strategy continues to attract increasing research interest within the broader field of strategic management. Research in behavioral strategy has clear scope for development in tandem with such traditional streams of strategy research that involve economics, markets, resources, and technology. The key roles of psychology, organizational behavior, and behavioral decision making in the theory and practice of strategy have yet to be comprehensively grasped. Given that strategic thinking and strategic decision making are importantly concerned with human cognition, human decisions, and human behavior, it makes eminent sense to bring some balance in the strategy field by complementing the extant emphasis on the “objective” economics-based view with substantive attention to the “subjective” individual-oriented perspective. This calls for more focused inquiries into the role and nature of the individual strategy actors, and their cognitions and behaviors, in the strategy research enterprise. For the purposes of this book series, behavioral strategy would be broadly construed as covering all aspects of the role of the strategy maker in the entire strategy field. The scholarship relating to behavioral strategy is widely believed to be dispersed in diverse literatures. These existing contributions that relate to behavioral strategy within the overall field of strategy has been known and perhaps valued by most scholars all along, but were not adequately appreciated or brought together as a coherent sub-field or as a distinct perspective of strategy. This book series on Research in Behavioral Strategy will cover the essential progress made thus far in this admittedly fragmented literature and elaborate upon fruitful streams of scholarship. More importantly, the book series will focus on providing a robust and comprehensive forum for the growing scholarship in behavioral strategy. In particular, the volumes in the series will cover new views of interdisciplinary theoretical frameworks and models (dealing with all behavioral aspects), significant practical problems of strategy formulation, implementation, and evaluation, and emerging areas of inquiry. The series will also include comprehensive empirical studies of selected segments of business, economic, industrial, government, and non-profit activities with potential for wider application of behavioral strategy. Through the ongoing release of focused topical titles, this book series will seek to disseminate theoretical insights and practical management information that will enable interested professionals to gain a rigorous and comprehensive understanding of the subject of behavioral strategy. Entrepreneurship and Behavioral Strategy contains contributions by leading scholars in the field of entrepreneurship with an interest in researching behavioral perspectives. The 10 chapters in this volume deal with a number of significant issues relating broadly to the behavioral aspects of entrepreneurship, covering topics such as entrepreneurial process orientation, a machine learning approach to reviewing the intersection of the entrepreneurship and behavioral strategy literatures, the temporalities of entrepreneurial risk behavior, entrepreneurs under ambiguity, disruptive business model innovations, international attention, entrepreneurial team formation, building alliances in new and small ventures, the role of insight in entrepreneurial action, and the effects of foreign competition on entrepreneurship activities. The chapters include empirical as well as conceptual treatments of the selected topics, and collectively present a wide-ranging review of the noteworthy research perspectives on the confluence of entrepreneurship and behavioral strategy.