Foundations of Strategy, second edition is a concise text aimed at both undergraduate and Masters students. Written in an accessible style with the needs of these students in mind, the latest edition has a clear, comprehensive approach, underlined by sound theoretical depth.

Preface to 2nd edition ix Preface to 1st edition x Online teaching and learning resources xi Case list xii 1 The concept of strategy 1 The role of strategy in success 6 A brief history of strategy 8 Strategy today 11 Strategic management of not‐for‐profit organizations 25 The approach taken in this book 27 2 Industry analysis 39 From environmental analysis to industry analysis 42 The determinants of industry profit: Demand and competition 45 Analysing industry attractiveness 47 Applying industry analysis to forecasting industry profitability 57 Using industry analysis to develop strategy 60 Defining an industry 62 Reviewing the five forces of competition framework 64 Segmentation analysis 66 Dealing with dynamic competition 68 From industry attractiveness to competitive advantage: Identifying key success factors 68 3 Resources and capabilities 81 The role of resources and capabilities in strategy formulation 87 Identifying the organization’s resources and capabilities 89 Appraising resources and capabilities 100 Developing strategy implications 106 4 The nature and sources of competitive advantage 119 How competitive advantage emerges and is sustained 123 Types of competitive advantage: Cost and differentiation 131 Porter’s generic strategies and being ‘stuck in the middle’ 140 5 Industry evolution and strategic change 151 The industry lifecycle 157 Managing organizational adaptation and strategic change 167 Managing strategic change 170 6 Technology‐based industries and the management of innovation 193 Competitive advantage in technology‐intensive industries 198 Strategies to exploit innovation: How and when to enter 204 Competing for standards 210 Implementing technology strategies: Creating the conditions for innovation 215 7 Corporate strategy 233 The scope of the firm 238 Key concepts for analysing firm scope 239 Diversification 241 Vertical integration 249 Managing the corporate portfolio 258 8 Global strategies and the multinational corporation 271 The implications of international competition for industry analysis 277 Analysing competitive advantage in an international context 280 The international location of production 285 How should firms enter foreign markets? 288 Multinational strategies: Global integration vs. national differentiation 292 Strategy and organization within the multinational corporation 297 9 Realizing strategy 309 From strategy to execution 313 Organizational design: The fundamentals of organizing 318 Organizational design: Choosing the right structure 325 Organizational culture 332 10 Current trends in strategic management 343 The new environment of business 344 New directions in strategic thinking 349 Redesigning organizations 354 The changing role of managers 358 Glossary 365 Index 371

Foundations of Strategy, Second Edition is a concise text aimed at both undergraduate and Masters students. Written in an accessible style with the needs of these students in mind, the latest edition has a clear, comprehensive approach, underlined by sound theoretical depth. The content has been fully revised and updated to reflect recent developments in the business environment and strategy research. Features of the text include: 10 chapters covering all the topics in a typical one-semester course.Concise and integrated treatment of strategy implementation focusing on strategy in practice.Integration of the not-for-profit sector.Opening and closing chapter case studies covering a range of real-world, global examples.Featured Example and Case Insight boxes throughout chapters to give an additional dimension to the subject matter. An extensive range of learning and teaching materials accompany this text including instructor manual, case teaching notes, test bank and PowerPoint slides, for instructors. Resources for students include self-test quizzes and glossary flashcards to check understanding. Access the full resources online at www.foundationsofstrategy.com.

Preface to 2nd edition ix Preface to 1st edition x Online teaching and learning resources xi Case list xii 1 The concept of strategy 1 2 Industry analysis 39 3 Resources and capabilities 81 4 The nature and sources of competitive advantage 119 5 Industry evolution and strategic change 151 6 Technology?based industries and the management of innovation 193 7 Corporate strategy 233 8 Global strategies and the multinational corporation 271 9 Realizing strategy 309 10 Current trends in strategic management 343 Glossary 365 Index 371