Strategic Management

Strategic Management
Philip Sadler

First published in 1993, authors James C Craig and Robert M Grant Second edition published in Great Britain and the United States in 2003 by Kogan Page Limited, author Philip Sadler Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licences issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers at the undermentioned addresses: 120 Pentonville Road London N1 9JN UK www.kogan-page.co.uk 22883 Quicksilver Drive Sterling VA 20166–2012 USA

© James C Craig and Robert M Grant, 1993 © Philip Sadler, 2003 The right of Philip Sadler to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. ISBN 0 7494 3938 6 British Library Cataloguing in Publication Data A CIP record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Sadler, Philip, 1930Strategic management / Philip Sadler. – 2nd ed. p. cm. – (MBA masterclass series) Rev. ed. of: Strategic management / James C. Craig. 1st ed. 1993. Includes bibliographical references and index. ISBN 0-7494-3938-6 1. Strategic planning. I. Title. II. Series. HD30.28.S224 2003 658.4’012–dc21 2002154764 Typeset by Saxon Graphics Ltd, Derby Printed and bound in Great Britain by Biddles Ltd, Guildford and King’s Lynn www.biddles.co.uk

Contents

The series editor Introduction

ix 1

Part 1
1

Strategic management and its context
Introduction to strategic