Strategic Management and Competitive Advantage 6th Ed.

Concepts and Cases

Jay B. Barney, William S. Hesterly

Publisher: Pearson, 2019, 542 pages

ISBN: 978-1-292-25804-7

Keywords: Strategy

Last modified: June 2, 2022, 9:47 a.m.

For these Global Editions, the editorial team at Pearson has collaborated with educators across the world to address a wide range of subjects and requirements, equipping students with the best possible learning tools. This Global Edition preserves the cutting-edge approach and pedagogy of the original, but also features alterations, customization, and adaptation from the North American version.

  • Part 1; The Tools of Strategic Analysis
    1. What Is Strategy and the Strategic Management Process?
      • Go, Pokémon Go
      • Strategy and the Strategic Management Process
        • Defining Strategy
        • The Strategic Management Process
      • What Is Competitive Advantage?
        • Research Made Relevant: How Sustainable Are Competitive Advantages?
        • The Strategic Management Process Revisited
      • Measuring Competitive Advantage
        • Accounting Measures of Competitive Advantage
        • Strategy in Depth: The Business Model Canvas
        • Economic Measures of Competitive Advantage
        • Ethics and Strategy: Stockholders Versus Stakeholders
        • The Relationship Between Economic and Accounting Performance Measures
      • Emergent Versus Intended Strategies
      • Why you Need to Know About Strategy
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    2. Evaluating a Firm's External Environment
      • How Attractive is the Music Streaming Industry?
      • Understanding a Firm's General Environment
      • The Structure-Conduct-Performance Model of Firm Performance
        • Ethics and Strategy: Is a Firm Gaining a Competitive Advantage Good for Society?
      • A Model of Environmental Threats
        • Threat from New Competition
        • Strategy in Depth: Environmental Threats and the S-C-P Model
      • Another Environmental Force: Complements
      • Industry Structure and Environmental Opportunities
        • Research Made Relevant: The Impact of Industry and Firm Characteristics on Firm Performance
        • Strategy in Depth: Network and Empty Core Industries
        • Opportunities in Fragmented Industries: Consolidation
        • Opportunities in Emerging Industries: First-Mover Advantages
        • Opportunities in Mature Industries: Product Refinement, Service, and Process Innovation
        • Opportunities in Declining Industries: Leadership, Niche, Harvest, and Divestment
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    3. Evaluating a Firm's Internal Capabilities
      • When a Noun Becomes a Verb
      • The Resource-Based View of the Firm
        • What Are Resources and Capabilities?
        • Critical Assumptions of the Resource-Based View
        • Strategy in Depth: Ricardian Economics and the Resource-Based View
      • The VRIO Framework
        • The Question of Value
        • Ethics and Strategy: Externalities and the Broader Consequences of Profit Maximization
        • The Question of Rarity
        • The Question of Imitability
        • The Question of Organization
        • Research Made Relevant: Strategic Human Resource Management Research
      • Applying the VRIO Framework
        • Applying the VRIO Framework to Southwest Airlines
        • Southwest's People-Management and Competitive Advantage
      • Imitation and Competitive Dynamics in an Industry
        • Not Responding to Another Firm's Competitive Advantage
        • Changing Tactics in Response to Another Firm's Competitive Advantage
        • Changing Strategies in Response to Another Firm's Competitive Advantage
      • Implications of the Resource-Based View
        • Where Does the Responsibility for Competitive Advantage in a Firm Reside?
        • Competitive Parity and Competitive Advantage
        • Difficult-to-Implement Strategies
        • Socially Complex Resources
        • The Role of Organization
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    • End-of-Part 1 Cases
      • Case 1-1: Can SodaStream Disrupt the Carbonated Soft Drink Market?
      • Case 1-2: True Religion Jeans: Flash in the Pants or Enduring Brand?
      • Case 1-3: Walmart Stores, Inc.
      • Case 1-4: Harlequin Enterprises: The Mira Decision
  • Part 2: Business-Level Strategies
    1. Cost Leadership
      • Brathwait: A Transparent Watchmaker
      • What is Business-Level Strategy?
      • What is Cost Leadership?
        • Sources of Cost Advantages
        • Strategy in Depth: Determining the Optimal Level of Production in an Industry
        • Research Made Relevant: How Valuable Is Market Share — Really?
        • Ethics and Strategy: The Race to the Bottom
      • The Value of Cost Leadership
        • Cost Leadership and Environmental Threats
        • Strategy in Depth: The Economics of Cost Leadership
      • Cost Leadership and Sustained Competitive Advantage
        • The Rarity of Sources of Cost Advantage
        • The Imitability of Sources of Cost Advantage
      • Organizing to Implement Cost Leadership
        • Organizational Structure in Implementing Cost Leadership
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    2. Product Differentiation
      • Who Is Victoria, and What Is Her Secret?
      • What is Product Differentiation?
        • Bases of Product Differentiation
        • Research Made Relevant: Discovering the Bases of Product Differentiation
        • Product Differentiation and Creativity
      • The Value of Product Differentiation
        • Product Differentiation and Environmental Threats
        • Strategy in Depth: The Economics of Product Differentiation
        • Product Differentiation and Environmental Opportunities
        • Ethics and Strategy: Product Claims and the Ethical Dilemmas in Health Care
      • Product Differentiation and Sustained Competitive Advantage
        • Rare Bases for Product Differentiation
        • The Imitability of Product Differentiation
      • Organizing to Implement Product Differentiation
        • Organizational Structure and Implementing Product Differentiation
        • Management Controls and Implementing Product Differentiation
        • Strategy in Depth: Going in Search of Blue Oceans
        • Compensation Policies and Implementing Product Differentiation Strategies
      • Can Firms Implement Product Differentiation and Cost Leadership Simultaneously?
        • No: These Strategies Cannot Be Implemented Simultaneously
        • Yes: These Strategies Can Be Implemented Simultaneous
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    3. Flexibility and Real Options
      • Why Is Netflix Called Netflix?
      • What is Strategic Flexibility?
        • Types of Flexibility
      • The Value of Strategic Flexibility
        • Incorporating Risk in Strategic Decision Making
        • Limitations of Risk Based Decision Making Under Uncertainty
        • Valuing Flexibility
        • Strategy in Depth: The Black-Scholes Model for Valuing Financial Options
        • Research Made Relevant: The Value of Real Options Thinking
      • Strategic Flexibility and Sustained Competitive Advantage
        • Rare and Costly-to-Imitate Flexibility
      • Organizing to Implement Strategic Flexibility
        • Ethics and Strategy Feature: Treating Employees as Flexible Assets
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    4. Collusion
      • A Gas Station Conundrum
      • What is Collusion?
        • Ethics and Strategy Feature: The Ethics of Collusion
      • The Value of Collusion
        • Colluding to Reduce the Threat of New Competitors
        • Colluding to Reduce the Threat of Current Competitors
        • Strategy in Depth: How Colluding Firms Generate Economic Profits
        • Colluding to Reduce Other Competitive Threats
      • Collusion and Sustained Competitive Advantage
        • Ways Firms Can Cheat on Collusive Agreements
        • Explicit and Tacit Collusion
        • Industry Attributes and the Threat of Cheating
        • Research Made Relevant: Sending Signals to Maintain Collusion
        • Rarity and Costly to Imitate Collusion Strategies
      • Organizing to Implement Tacit Collusion
        • Organizational Efficiency
        • Organizational Self-Discpline
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    • End-of-Part 2 Cases
      • Case 2-1: McDonald's Comeback in the U.S. Burger Market?
      • Case 2-2: The Levi's Personal Pair Proposal
      • Case 2-3: Papa John's International, Inc.: Growth Challenges
      • Case 2-4: Ryanair — The Low Fares Airline
      • Case 2-5: Torrey Nano, Inc.
      • Case 2-6: Collusion in Major League Baseball
  • Part 3: Corporate Strategies
    1. Vertical Integration
      • Outsourcing Services
      • What is Corporate Strategy?
      • What is Vertical Integration?
      • The Value of Vertical Integration
        • Strategy in Depth: Measuring Vertical Integration
        • Vertical Integration and the Threat of Opportunism
        • Vertical Integration and Firm Capabilities
        • Vertical Integration and Flexibility
        • Applying the Theories to the Management of Call Centers
        • Research Made Relevant: Empirical Tests of Theories of Vertical Integration
        • Integrating Different Theories of Vertical Integration
      • Vertical Integration and Sustained Competitive Advantage
        • The Rarity of Vertical Integration
        • Ethics and Strategy: The Ethics of Outsourcing
        • The Imitability of Vertical Integration
      • Organizing to Implement Vertical Integration
        • Organizational Structure and Implementing Vertical Integration
        • Management Controls and Implementing Vertical Integration
        • Compensation in Implementing Vertical Integration Strategies
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    2. Corporate Diversification
      • Diversifying with a Core Mission
      • What is Corporate Diversification?
        • Types of Corporate Diversification
        • Limited Corporate Diversification
        • Related Corporate Diversification
        • Unrelated Corporate Diversification
      • The Value of Corporate Diversification
        • What Are Valuable Economies of Scope?
        • Research Made Relevant: How Valuable Are Economies of Scope?
        • Can Equity Holders Realize These Economies of Scope on Their Own?
        • Ethics and Strategy: Globalization and the Threat of the Multinational Firm
      • Corporate Diversification and Sustained Competitive Advantage
        • The Rarity of Diversification
        • Strategy in Depth: Risk-Reducing Diversification and a Firm's Other Stakeholders
        • The Imitability of Diversification
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    3. Organizing to Implement Corporate Diversification
      • Is It Soup Yet?
      • Organizational Structure and Implementing Corporate Diversification
        • The Board of Directors
        • Strategy in Depth: Agency Conflicts Between Managers and Equity Holders
        • Research Made Relevant: The Effectiveness of Boards of Directors
        • Institutional Owners
        • The Senior Executive
        • Corporate Staff
        • Division General Manager
        • Shared Activity Managers
      • Management Controls and Implementing Corporate Diversification
        • Evaluating Divisional Performance
        • Allocating Corporate Capital
        • Transferring Intermediate Products
      • Compensation Policies and Implementing Corporate Diversification
        • Ethics and Strategy: Do CEOs get Paid Too Much?
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    4. Strategic Alliances
      • Alliances Between Chinese and U.S. Firms
      • What is a Strategic Alliance?
      • How do Strategic Alliances Create Value?
        • Strategic Alliance Opportunities
        • Strategy in Depth: Winning Learning Races
        • Research Made Relevant: Do Strategy Alliances Facilitate Tacit Collusion?
      • Alliances Threats: Incentives to Cheat on Strategic Alliances
        • Adverse Selection
        • Moral Hazard
        • Holdup
        • Ethics and Strategy: When It Comes to Alliances, Do "Cheaters Never Prosper"?
      • Strategic Alliances and Sustained Competitive Advantage
        • The Rarity of Strategic Alliances
        • The Imitability of Strategic Alliances
      • Organizing to Implement Strategic Alliances
        • Explicit Contracts and Legal Sanctions
        • Equity Investments
        • Firm Reputations
        • Joint Ventures
        • Trust
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    5. Mergers and Acquisitions
      • The Travails of Technology Acquisitions
        • Ethics and Strategy: Is Greed Good?
      • What Are Mergers and Acquisitions?
      • The Value of Mergers and Acquisitions
        • Mergers and Acquisitions: No Economics of Scope
        • Mergers and Acquisitions: When Economies of Scope Exists
        • Return to Mergers and Acquisitions: Research results
        • Strategy in Depth: Evaluating the Performance Effects of Acquisition
        • Why Are There So Many Mergers and Acquisitions?
      • Mergers and Acquisitions and Sustained Competitive Advantage
        • Valuable, Rare, and Private Economies of Scope
        • Valuable, rare, and Costly-to-Imitate Economies of Scope
        • Unexpected Valuable Economies of Scope Between Bidding and Target Firms
        • Implications for Bidding Firm Managers
        • Implications for Target Firm Managers
        • Research Made Relevant: The Wealth Effects of Management Responses to Takeover Attempts
      • Organizing to Implement a Merger or Acquisition
        • Post-Mergers Integration and Implementing a Diversification Strategy
        • Special Challenges in Post-Merger Integration
      • Summary
        • Challenge Questions
        • Problem Set
        • End Notes
    • End-of-Part 3 Cases
      • Case 3-1: National Hockey League Enterprises Canada: A Retail Proposal
      • Case 3-2: Starbucks: An Alex Poole Strategy Case
      • Case 3-3: Rayovac Corporation: International Growth and Diversification Through Acquisitions
      • Case 3-4: Aegis Analytical Corporation's Strategic Alliances
      • Case 3-5: Activision's Crush on Mobile Gaming
  • Appendix: Analyzing Cases and Preparing for Class Discussions

Reviews

Strategic Management and Competitive Advantage

Reviewed by Roland Buresund

Excellent ********** (10 out of 10)

Last modified: June 6, 2022, 12:57 p.m.

One of the best books on the Resource-based view of the firm! It also goes deep into VRIO and is an excellent overall text on strategy.

Definitely recommended reading.

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