Solution Manual For Strategic Management An Integrated Approach 10th Edition By Charles W.

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Solution Manual For Strategic Management An Integrated Approach 10th Edition By Charles W.

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StrategIC

Management

An Integrated Approach

10th Edition

 

Chapter 1

Strategic Leadership: Managing the Strategy-Making Process 1

for Competitive Advantage

 

Discussion Questions

  1. What do we mean by strategy? How is a business

model different from a strategy?

  1. What do you think are the sources of sustained superior

profitability?

  1. What are the strengths of formal strategic planning?

What are its weaknesses?

  1. To what extent do you think that cognitive biases

may have contributed to the global financial crisis

that gripped financial markets in 20082009?

Explain

your answer.

  1. Discuss the accuracy of the following statement:

Formal strategic planning systems are irrelevant

for firms competing in high-technology industries

where the pace of change is so rapid that plans are

routinely made obsolete by unforeseen events.

  1. Pick the current or a past president of the United

States and evaluate his performance against the leadership

characteristics discussed in the text. On the basis

of this comparison, do you think that the president

was/is a good strategic leader? Why or why not?

Chapter 2

External Analysis: The Identification of Opportunities and Threats

Discussion Questions

  1. Under what environmental conditions are price

wars most likely to occur in an industry? What are

the implications of price wars for a company? How

should a company try to deal with the threat of a

price war?

  1. Discuss the Competitive Forces model

(

Figure 2.2) with reference to what you know

about the U.S. beer industry (see the Opening

case). What does the model tell you about the

level of competition in this industry?

  1. Identify a growth industry, a mature industry, and

a declining industry. For each industry, identify the

following: (1) the number and size distribution of

companies, (2) the nature of barriers to entry, (3)

the height of barriers to entry, and (4) the extent

of product differentiation. What do these factors

tell you about the nature of competition in each

industry? What are the implications for the company

in terms of opportunities and threats?

  1. Assess the impact of macroenvironmental factors

on the likely level of enrollment at your university

over the next decade. What are the implications of

these factors for the job security and salary level of

your professors?

Case Discussion Questions

  1. Using the information contained in the case, conduct

a five-forces analysis of the U.S. Steel industry.

What conclusion can you draw from this?

  1. Do you think there are any strategic groups in

the U.S. Steel industry? What might they be? How

might the nature of competition vary from group

to group?

  1. Demand for steel is very cyclical. Why do you

think this is the case? What might steel makers

do to better cope with the cyclical nature of

demand?

  1. Given the nature of competition in the U.S. steel

industry, what must a steel maker focus on in order

to be profitable?

Chapter 3

 Internal Analysis: Distinctive Competencies, Competitive Advantage, 81

and Profitability

 

Discussion Questions

  1. Under what environmental conditions are price

wars most likely to occur in an industry? What are

the implications of price wars for a company? How

should a company try to deal with the threat of a

price war?

  1. Discuss the Competitive Forces model

(

Figure 2.2) with reference to what you know

about the U.S. beer industry (see the Opening

case). What does the model tell you about the

level of competition in this industry?

  1. Identify a growth industry, a mature industry, and

a declining industry. For each industry, identify the

following: (1) the number and size distribution of

companies, (2) the nature of barriers to entry, (3)

the height of barriers to entry, and (4) the extent

of product differentiation. What do these factors

tell you about the nature of competition in each

industry? What are the implications for the company

in terms of opportunities and threats?

  1. Assess the impact of macroenvironmental factors

on the likely level of enrollment at your university

over the next decade. What are the implications of

these factors for the job security and salary level of

your professors?

Case Discussion Questions

  1. Using the information contained in the case, conduct

a five-forces analysis of the U.S. Steel industry.

What conclusion can you draw from this?

  1. Do you think there are any strategic groups in

the U.S. Steel industry? What might they be? How

might the nature of competition vary from group

to group?

  1. Demand for steel is very cyclical. Why do you

think this is the case? What might steel makers

do to better cope with the cyclical nature of

demand?

  1. Given the nature of competition in the U.S. steel

industry, what must a steel maker focus on in order

to be profitable?

 

Chapter 4

Building Competitive Advantage Through Functional-Level Strategy

Discussion Questions

  1. How are the four generic building blocks of competitive

advantage related to each other?

  1. What role can top management play in helping a

company achieve superior efficiency, quality, innovation,

and responsiveness to customers?

  1. Over time, will the adoption of Six Sigma quality

improvement processes give a company a competitive

advantage, or will it be required only to

achieve parity with competitors?

  1. From what perspective might innovation be called

the single most important building block of

competitive advantage?

 

Case Discussion Questions

  1. How did poor quality at United Technologies Otis

unit damage the companys financial performance

and competitive position?

  1. Why do you think quality was so poor at Otis?
  2. What did UTC learn by repairing the quality

problems at Otis? How did it leverage this learning

to improve the performance of the entire

corporation?

  1. What general principles about competitive advantage

and strategy can be drawn from this

case?

 

Chapter5

Building Competitive Advantage Through Business-Level Strategy 155

Discussion Questions

  1. Why does each generic business model require a

different set of business-level strategies? Give examples

of pairs of companies in: (a) the computer

industry; (b) the electronics industry; and (c) the

fast-food industry that pursue different types of

business models.

  1. How do changes in the environment affect the

success of a companys business model?

  1. What is the value creation frontier? How does each

of the four generic business models allow a company

to reach this frontier?

  1. How can companies pursuing cost leadership

and differentiation lose their place on the value

frontier? In what ways can companies regain their

competitive advantage?

  1. What strategies does a company need to develop

to become a broad differentiator? In what

ways does this provide the company with a competitive

advantage over cost leaders? Over differentiators?

  1. Why is strategic-group analysis important for superior

competitive positioning?

  1. What are some of the reasons companies lose

control over their business models, and thus their

competitive advantage, over time?

Case Discussion Questions

  1. Why has Southwests business model and strategies

changed over time?

  1. In what ways is Southwest trying to improve its

competitive advantage in 2011?

 

Chapter 6

Business-Level Strategy and the Industry Environment 191

 

Discussion Questions

  1. Why are industries fragmented? What are the primary

ways in which companies can turn a fragmented

industry into a consolidated industry?

  1. What are the key problems in maintaining a competitive

advantage in embryonic and growth

industry environments? What are the dangers associated

with being the leader in an industry?

  1. What investment strategies should be made by:

(a) differentiators in a strong competitive position,

and (b) differentiators in a weak competitive

position, while managing a companys growth

through the life cycle?

  1. Discuss how companies can use: (a) product differentiation,

and (b) capacity control to manage

rivalry and increase an industrys profitability.

  1. What kinds of strategies might: (a) a small pizza

place operating in a crowded college market,

and (b) a detergent manufacturer seeking to unveil

new products in an established market use to

strengthen their business models?

Case Discussion Questions

  1. Why did Holiday Inns business model and strategies

change over time?

  1. How has competition changed the strategies behind

the InterContinental Hotels Groups business

model over time?

  1. In what ways is it using nonprice strategies to improve

its competitive advantage?

 

Chapter 7

Strategy and Technology 227

 

Discussion Questions

  1. What is different about high-tech industries? Were

all industries once high tech?

  1. Why are standards so important in high-tech industries?

What are the competitive implications of this?

  1. You work for a small company that has the leading

position in an embryonic market. Your boss

believes that the companys future is ensured because

it has a 60% share of the market, the lowest

cost structure in the industry, and the most reliable

and highest-valued product. Write a memo

to your boss outlining why the assumptions posed

might be incorrect.

  1. You are working for a small company that has

developed an operating system for PCs that is

faster and more stable than Microsofts Windows

operating

system. What strategies might the company

pursue to unseat Windows and establish its

own operating system as the dominant technical

standard in the industry?

  1. You are a manager for a major music record label.

Last year, music sales declined by 10%, primarily

because of very high piracy rates for CDs. Your

boss has asked you to develop a strategy for reducing

piracy rates. What would you suggest that

the company do?

  1. Reread the opening case on the emerging format

war for high definition DVD players. On the basis

of the information contained in this case, which

company do you think will most likely win this format

war: Sony or Toshiba? Why?

Case Discussion Questions

  1. Microsoft and RIM were selling smartphones several

years before Apple and Google entered the

market. Why then do you think Apple and Googles

Android phones are now starting to dominate the

market?

  1. Why did Apple place such emphasis on the applications

that run on the iPhone? What is it trying

to achieve by heavily promoting applications?

Why did other companies rush to copy Apples

strategies?

  1. Apple and Google are pursuing different

strategies

Apple sells the device and the OS as

a bundle (the iPhone), whereas Google does not

make devices and licenses its Android OS phones to

other device makers. Both companies are gaining

share. What does this teach about the right strategy

for prevailing in a format war?

  1. Microsoft and Nokia have both been losing

share in the smartphone business. They have

now decided to enter into an alliance. How

are they hoping to reshape competition in the

smartphone

business? Do you think they will

succeed?

  1. Google licenses its Android OS to phone manufacturers

for free. Why would it do this?

  1. What do you think the structure of the smartphone

market will look like a decade from now?

 

Chapter 8

Strategy in the Global Environment 263

 

Discussion Questions

  1. Plot the position of the following companies on

Figure 8.3: Microsoft, Google, Coca-Cola, Dow

Chemicals, Pfizer, and McDonalds. In each case,

justify your answer.

  1. Are the following global standardization industries,

or industries where localization is more

important: bulk chemicals, pharmaceuticals,

branded food products, moviemaking, television

manufacture, personal computers, airline travel,

and fashion retailing?

  1. Discuss how the need for control over foreign operations

varies with the strategy and distinctive competencies

of a company. What are the implications

of this relationship for the choice of entry mode?

  1. Licensing proprietary technology to foreign competitors

is the best way to give up a companys

competitive advantage. Discuss.

  1. What kind of companies stand to gain the most

from entering into strategic alliances with potential

competitors? Why?

Case Discussion Questions

  1. In the 1970s and 1980s Palmisano states that IBM

was organized as a classic multinational enterprise.

What does this mean? Why do you think IBM was

organized that way? What were the advantages of

this kind of strategic orientation?

  1. By the 1990s, the classic multinational strategic orientation

was no longer working well for IBM. Why not?

  1. What are the strategic advantages of IBMs globally

integrated enterprise strategy? What kind of

organizational changes do you think had to be

made at IBM to make this strategy a reality?

  1. According to the strategic choice framework introduced

in this chapter, what strategy do you

think IBM is pursuing today?

 

Chapter 9

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, 307

and Strategic Outsourcing

 

Discussion Questions

  1. Under what conditions might horizontal integration

be inconsistent with the goal of maximizing

profitability?

  1. What is the difference between a companys internal

value chain and the industry value chain? What

is the relationship between vertical integration

and the industry value chain?

  1. Why was it profitable for GM and Ford to integrate

backward into component-parts manufacturing

in the past, and why are both companies now buying

more of their parts from outside suppliers?

  1. What value-creation activities should a company

outsource to independent suppliers? What are the

risks involved in outsourcing these activities?

  1. What steps would you recommend that a company

take to build mutually beneficial long-term

cooperative relationships with its suppliers?

Case Discussion Questions

  1. What kind of corporate-level strategies did News

Corp pursue to build its multibusiness model?

  1. What are the advantages and disadvantages associated

with these strategies?

 

Chapter 10

Corporate-Level Strategy: Related and Unrelated Diversification

Discussion Questions

  1. When is a company likely to choose (a) related diversification

and (b) unrelated diversification?

  1. What factors make it most likely that (a) acquisitions

or (b) internal new venturing will be the preferred

method to enter a new industry?

  1. Imagine that IBM has decided to diversify into

the telecommunications business to provide online

cloud computing data services and broadband

access for businesses and individuals. What

method would you recommend that IBM pursue

to enter this industry? Why?

  1. Under which conditions are joint ventures a useful

way to enter new industries?

  1. Identify Honeywells (www.honeywell.com) portfolio

of businesses that can be found by exploring

its Website. In how many different industries is

Honeywell involved? Would you describe Honeywell

as a related or unrelated diversification company?

Has Honeywells diversification strategy

increased profitability over time?

Case Discussion Questions

  1. In what ways has Samsungs multibusiness model

changed over time? Why did its top managers

make these changes?

  1. How is Samsung currently performing? What

kinds of changes is it making to its multibusiness

model?

 

Chapter 11

Corporate Performance, Governance, and Business Ethics 377

 

Discussion Questions

  1. How prevalent has the agency problem been

in corporate America during the last decade?

During

the late-1990s there was a boom in initial

public offerings of Internet companies (dot.

com companies). The boom was supported by

sky high valuations often assigned to Internet

startups that had no revenues or earnings. The

boom came to an abrupt end in 2001, when the

NASDAQ stock market collapsed, losing almost

80% of its value. Who do you think benefited

most from this boom: investors (stockholders)

in those companies, managers, or investment

bankers?

  1. Why is maximizing ROIC consistent with maximizing

returns to stockholders?

  1. How might a company configure its strategymaking

processes to reduce the probability that

managers will pursue their own self-interest at the

expense of stockholders?

  1. In a public corporation, should the CEO of the

company also be allowed to be the chairman of

the board (as allowed for by the current law)?

What problems might this give rise to?

  1. Under what conditions is it ethically defensible

to outsource production to producers in the developing

world who have much lower labor costs

when such actions involve laying off long-term

employees in the firms home country?

  1. Is it ethical for a firm faced with a shortage of labor

to employ illegal immigrants as labor?

Case Discussion Questions

  1. If you put the issues related to bonuses and personal

perks to one side, how would you judge the

effectiveness of John Thain as the leader of an organization

deep in crisis?

  1. Where the actions that John Thain took on personal

perks and bonuses legal? Were they ethical? What

does this case teach you about the difference between

staying within the bounds of the law and

behaving ethically?

  1. Why do you think John Thain pushed for such high

bonuses in 2008 given that Merrill was in a deep

financial crisis? What might his motivations have

been?

  1. What might John Thain have done differently? If he

had pursued a different set of actions with regard

to personal perks and bonuses, what might the

outcome have been for him and for Merrill Lynch?

  1. At the end of 2008, the financial markets were in

the middle of the deepest crisis since the great

depression. Losses were increasing in financial

institutions by the hour as the value of their

holdings of mortgage-backed securities plummeted.

Given this situation, shouldnt Ken Lewis

have expected higher losses at Merrill Lynch?

Was Thain really misleading him? Why might he

have been mislead?

 

Chapter 12

 Implementing Strategy in Companies that Compete 413

in a Single Industry

 

Discussion Questions

  1. What is the relationship among organizational

structure, control, and culture? Give some examples

of when and under what conditions a mismatch

among these components might arise.

  1. What kind of structure best describes the way your

(a) business school and (b) university operate?

Why is the structure appropriate? Would another

structure fit better?

  1. When would a company choose a matrix structure?

What are the problems associated with

managing this structure, and why might a product-

team structure be preferable?

  1. For each of the structures discussed in the chapter,

outline the most suitable control systems.

  1. What kind of structure, controls, and culture

would you be likely to find in (a) a small manufacturing

company, (b) a chain store, (c) a high-tech

company, and (d) a Big Four accounting firm?

Case Discussion Questions

  1. In what ways did McComb change Liz Claibornes

structure and control systems over time?

  1. Why did he make these changes? Did they improve

its performance? Search the Internet to find out

what has happened to Liz Claiborne since these

changes were made.

 

Chapter 13

 Implementing Strategy in Companies that Compete Across

 

Discussion Questions

  1. When would a company decide to change from a

functional to a multidivisional structure?

  1. If a related company begins to purchase unrelated

businesses, in what ways should it change its

structure or control mechanisms to manage the

acquisitions?

  1. What prompts a company to change from a global

standardization to a transnational strategy, and

what new implementation problems arise as it

does so?

  1. How would you design a structure and control

system to encourage entrepreneurship in a large,

established corporation?

  1. What are the problems associated with implementing

a strategy of related diversification

through acquisitions?

Case Discussion Questions

 

  1. How has Cisco changed its structure and control

systems?

  1. Relate Ciscos changes to its control and evaluation

systems to the stages of growth in Greiners model.

  1. Use the Internet to investigate how Ciscos new

approach has worked. How is the company continuing

to change its structure and control systems

to solve its ongoing problems?

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