Crafting and Executing Strategy
The Quest for Competitive Advantage
Concepts and Cases
17TH EDITION
McGraw-Hill Irwin
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Part O n e Concepts and Techniques for Crafting and Executing Strategy 3
Section A: Introduction and Overview
1. What Is Strategy and Why Is It Important? 4
What Do We Mean by Strategy? 6
Strategy and the Quest for Competitive Advantage 7 Identifying a Company s Strategy 10 Why a Company's Strategy Evolves over Time 11 A Company s Strategy Is Partly Proactive and Partly Reactive
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Strategy and Ethics: Passing the Test of Moral Scrutiny What Makes a Strategy a Winner? 15
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The Relationship between a Company's Strategy and Its Business Model Why Are Crafting and Executing Strategy Important? 17
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Good Strategy + Good Strategy Execution = Good Management
Illustration Capsules
1.1. Starbucks' Strategy in the Specialty Coffee Industry 8 1.2. Microsoft and Red Hat: Two Contrasting Business Models 16
2. Leading the Process of Crafting and Executing Strategy 22
What Does the Strategy-Making, Strategy-Executing Process Entail? Phase 1: Developing a Strategic Vision 24
28 How a Strategic Vision Differs from a Mission Statement Linking the Vision/Mission with Company Values 29 Communicating the Strategic Vision 30
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Phase 2: Setting Objectives
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The Imperative of Setting Stretch Objectives
What Kinds of Objectives to Set—The Need for a Balanced Scorecard
Phase 3: Crafting a Strategy
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Strategy Making Involves Managers at All Organizational
