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The globalization of the competitive landscape has forced companies to fundamentally rethink their strategies. Whereas once only a few industries such as oil could be labeled truly global, today many-from pharmaceuticals to aircraft to computers-have become global in scale and scope. As a consequence, creating a global competitive advantage has become a key strategic issue for many companies. Crafting a global strategy requires making decisions about which strategy elements can and should be globalized and to what extent.
Crafting and Executing Strategy has been revised and updated specifically with its European readers in mind. Building upon the success of previous editions, it continues to explain the core concepts and key theories in strategy and illustrate them with practical, managerial examples students can really relate to. Brand new features have been developed to encourage readers to go beyond learning and to apply their knowledge to from a diverse range of real-life scenarios including global brands, SMEs, public sector and not-for-profit organizations.
This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on the response of firms' entry, exit, and employment decisions. To do so, we use as a natural experiment a reform in Portugal that reduced entry time and costs. Using the staggered implementation of the policy across the Portuguese municipalities, we find that the reform increased local entry and employment by, respectively, 25% and 4.8% per year in its first four years of implementation. Moreover, around 60% of the increase in employment came from incumbent firms expanding their size, with most of the rise occurring among the most productive firms. Standard models of firm dynamics, which assume a constant elasticity of substitution, are inconsistent with the expansionary and heterogeneous response across incumbent firms. We show that in a model with heterogeneous firms and variable markups the most productive firms face a lower demand elasticity and expand their employment in response to increased entry.
This new edition of Craftingand Executing Strategy continues to provide a valuable resource forEuropean readers while embracing new and updated core concepts and key theoriesin strategy. Throughout the text you will find a range of examples thatillustrate how strategy works in the real world and encourage the practicalapplication of learning. Complementing the chapters is a section of new casesproviding in-depth analysis of the challenges of strategic management at arange of companies. This edition includes: • A new 6Ds framework, allowing readers to structure theirapproach to strategic management around the fundamental elements of thestrategy process (Diagnosis, Direction, Decisions and Delivery) and the contextwithin which that process is managed (Dynamism and Disorder). • Opening cases that begin each chapter and feature real-lifebusiness scenarios from companies such as Tinder, Ikea and Victorinox,introducing strategic concepts and theories. • Illustration Capsules, which have been updated to illustratecontemporary business concerns and demonstrate how companies have reactedstrategically, increasing understanding of successful strategies. Companiesfeatured include Burberry, TOMS, Aldi, Novo Nordisk and more. • Key Debates that stimulate classroom discussion and encouragecritical analysis. • Emerging Themes that present contemporary strategicopportunities and issues such as ripple intelligence and technology and neworganizational structures. • A Different View encouraging readers to appreciate differingviewpoints on strategic concepts and theories. • End of chapter cases that capture each chapter’s main theoriesthrough engaging cases on companies such as Adidas and Nike, Lego and Uber. • New recommended reading at the end of each chapter which help tofurther knowledge, including classic texts and advanced reading, and authornotes providing context Connect is McGraw-Hill Education’s learning and teachingenvironment that improves student performance and outcomes while promotingengagement and comprehension of content. New for this edition are interview-style videos, featuring authorAlex Janes in discussion with business leaders, exploring how organizationalstrategy has developed within companies as diverse as Jeep, Levi Strauss, NovoNordisk and a prestigious oil and gas company. The videos are provided infull-length or in segments, with questions aimed at encouraging classroomdiscussion or self-testing. This new edition is available with SmartBook, McGraw-HillEducation’s adaptive, digital tool that tests students’ knowledge of key conceptsand pinpoints the topics on which they need to focus study time. Crafting and Executing Strategy is also available with both TheBusiness Strategy Game and GLO-BUS – the world’sleading business strategy simulations.
Competitiveness describes a key ability important for plants to grow and survive abiotic and biotic stresses. Under optimal, but particularly under non-optimal conditions, plants compete for resources including nutrients, light, water, space, pollinators and other. Competition occurs above- and belowground. In resource-poor habitats, competition is generally considered to be more pronounced than in resource-rich habitats. Although competition occurs between different players within an ecosystem such as between plants and soil microorganisms, our topic focusses on plant-plant interactions and includes inter-specific competition between different species of similar and different life forms and intra-specific competition. Strategies for securing resources via spatial or temporal separation and different resource needs generally reduce competition. Increasingly important is the effect of invasive plants and subsequent decline in biodiversity and ecosystem function. Current knowledge and future climate predictions suggest that in some situations competition will be intensified with occurrence of increased abiotic (e.g. water and nutrient limitations) and biotic stresses (e.g. mass outbreak of insects), but competition might also decrease in situations where plant productivity and survival declines (e.g. habitats with degraded soils). Changing interactions, climate change and biological invasions place new challenges on ecosystems. Understanding processes and mechanisms that underlie the interactions between plants and environmental factors will aid predictions and intervention. There is much need to develop strategies to secure ecosystem services via primary productivity and to prevent the continued loss of biodiversity. This Research Topic provides an up-to-date account of knowledge on plant-plant interactions with a focus on identifying the mechanisms underpinning competitive ability. The Research Topic aims to showcase knowledge that links ecological relevance with physiological processes to better understanding plant and ecosystem function.
Are you at risk of being trapped in an uncompetitive business? Chances are the strategies that worked well for you even a few years ago no longer deliver the results you need. Dramatic changes in business have unearthed a major gap between traditional approaches to strategy and the way the real world works now. In short, strategy is stuck. Most leaders are using frameworks that were designed for a different era of business and based on a single dominant idea—that the purpose of strategy is to achieve a sustainable competitive advantage. Once the premise on which all strategies were built, this idea is increasingly irrelevant. Now, Columbia Business School professor and globally recognized strategy expert Rita Gunther McGrath argues that it’s time to go beyond the very concept of sustainable competitive advantage. Instead, organizations need to forge a new path to winning: capturing opportunities fast, exploiting them decisively, and moving on even before they are exhausted. She shows how to do this with a new set of practices based on the notion of transient competitive advantage. This book serves as a new playbook for strategy, one based on updated assumptions about how the world works, and shows how some of the world’s most successful companies use this method to compete and win today. Filled with compelling examples from “growth outlier” firms such as Fujifilm, Cognizant Technology Solutions, Infosys, Yahoo! Japan, and Atmos Energy, The End of Competitive Advantage is your guide to renewed success and profitable growth in an economy increasingly defined by transient advantage.
This practical manual been written for the car-owner who is already a competent driver under normal road conditions but who would like to be a better-than-average driver, and especially for the man who wishes to try his hand at competition work—both racing and rallying. Paul Frère—Grand Prix driver and engineer, Le Mans winner and author—gives invaluable instruction based on his many years of experience on the racing circuits of Europe and America. He deals briefly with theoretical matters and then proceeds with his driving lessons: making the most of practice; learning a circuit; racing starts; cut-off and braking points; slides and drifts; taking advantage of road camber; passing and being passed; slipstreaming; driving under wet and icy conditions and racing at night. He also gives practical advice on race tactics, flag marshals, time keeping, pit signals, race wear, seat belts, the choice of gear ratios and tyres and the different problems posed by road and track racing. With the aid of 60 photographs and diagrams M. Frère explains the correct line to take on various types of corners and why, the effects of peculiarities of surface, and analyses the forces acting on a car in cornering. The book is “required reading” for every ambitious driver in Club and Formula Junior racing and for Rallymen.
Indispensable to understanding change, this unique text provides a comprehensive examination of how change can be sustained within organizations today. Featuring critical insights into theoretical concepts and current international examples, the book provides an accessible way for students to enhance their understanding and develop the crucial skills need to be successful when managing and leading change in organisations. Key Features: Synthesizes what is known about change in organizations and then provides practical ways of sustaining it Contains an international range of case studies and interviews which link theory to practice throughout Explores key contemporary topics such as power, politics, ethics and sustainability for an enhanced understanding of current debates and issues Activities, discussion questions and further reading in each chapter test your understanding of the key concepts and reinforce your learning End of book Glossary defines key terms, for those new to studying change. Comes with access to additional resources for students and lecturers including relevant SAGE journal articles to encourage wider reading
Change happens all the time, so why is driving particular change generally so hard? Why are the outcomes often unpredictable? Are some types of change easier to achieve than others? Are some techniques for achieving change more effective than others? How can change that is already in train be stopped or deflected? Knowledge about change is fragmented and there is nowhere in the academic or practice worlds that provides comprehensive answers to these and other questions. Every discipline and practice area has only a partial view and there is not even a map of those different perspectives. The purpose of this book is to begin the task of developing a comprehensive approach to change by gathering a variety of viewpoints from the academic and practice worlds.