Solution Manual For Strategic Management Concepts and Cases, 5th Edition Jeffrey H. Dyer, Paul C. Godfrey, Robert J. Jensen, David J. Bryce Chapter 1-14

Solution Manual For Strategic Management Concepts and Cases, 5th Edition Jeffrey H. Dyer, Paul C. Godfrey, Robert J. Jensen, David J. Bryce Chapter 1-14
Chapter 1: What Is Business Strategy?
Learning Objectives
Studying this chapter should provide you with the knowledge to:
ï‚· Define business strategy, including the importance of competitive advantage,
the four choices that are critical to strategy formulation, and the strategic
management process.
ï‚· Summarize the information that the company’s mission and thorough
external and internal analysis provide to guide strategy.
ï‚· Discuss how strategies are formulated and implemented in order to achieve
objectives.
ï‚· Explain who is responsible for, and who benefits from, good business
strategy.
Purpose
The purpose of the lecture is to familiarize the student with what strategy is and
instill the realization that understanding strategy is vital to competitiveness.
The strategy tool will be learned through class lecture, end of chapter assignments,
mini cases in chapter and finally with the Walmart case.
Outline
Strategy at Tesla
WHAT IS BUSINESS STRATEGY?
Creating Value
Capturing Value: Competitive Advantage
Strategy in Practice: Measuring Competitive Advantage in the Pharmaceutical
Industry
The Strategic Management Process
WHAT INFORMATION AND ANALYSIS GUIDES STRATEGY FORMULATION?
Mission
External Analysis
Strategy in Practice: Apple’s Evolving Mission
Internal Analysis
HOW ARE STRATEGIES FORMULATED?
Strategy Vehicles for Achieving Strategic Objectives
Strategy Implementation
Strategy in Practice: Walmart Functional Strategies Implement the Overall “Low
Cost” Strategy
WHO IS RESPONSIBLE FOR BUSINESS STRATEGY?
Ethics and Strategy: The Price Companies Pay to Stay Competitive
Who Benefits from a Good Business Strategy?
Strategy in Your Career