本書全面涵蓋了戰略管理課程的教學內容，加入了作者最新的研究成果，更換了全部的“開篇案例”和“戰略聚焦”專欄，極力貼近管理實踐的最新動態；囊括了大量企業案例，揭示企業在當今市場環境中應如何有效地進行戰略管理。本書詳細介紹了如何運用戰略管理的工具和技術，實踐性強，向讀者展示了戰略管理的全貌。
本書適用于管理類專業本科生、碩士生、MBA、EMBA，也可以作為企業管理人員和相關學者的參考書。
出版說明
作者簡介
前 言
第一篇 戰略管理的輸入
第1章 戰略管理與競爭力 2
開篇案例 阿里巴巴：中國電子商務巨頭站上國際舞臺 3
1.1 競爭格局 7
戰略聚焦1-1 技術創新給星巴克帶來了超額的單店收入 11
1.2 超額利潤的產業組織模型 14
1.3 超額利潤的資源基礎模型 16
1.4 愿景和使命 18
1.5 利益相關者 19
戰略聚焦1-2 黑莓公司開發利益相關者生態系統的失敗經歷 20
1.6 戰略領導者 25
1.7 戰略管理過程 26
小結 28
關鍵術語 28
復習思考題 29
討論案例 航空業的競爭 29
注釋 30
第2章 外部環境：機會、威脅、產業競爭與競爭對手分析 38
開篇案例 金拱門上是否有裂痕 39
2.1 總體環境、行業環境和競爭環境 41
2.2 外部環境分析 43
2.3 總體環境的細分 45
戰略聚焦2-1 塔吉特失去了它的統治地位 54
2.4 行業環境分析 55
2.5 解讀行業分析 63
2.6 戰略群組 63
戰略聚焦2-2 江山代有才人出，亞馬遜還能獨領風騷多少年 64
2.7 競爭對手分析 65
2.8 倫理思考 67
小結 68
關鍵術語 68
復習思考題 68
討論案例 非正式經濟：是什么，為什么重要 69
注釋 70
第3章 內部組織：資源、能力、核心競爭力和競爭優勢 76
開篇案例 數據分析、大型制藥公司和核心競爭力：一個美麗新世界 77
3.1 內部組織分析 79
3.2 資源、能力和核心競爭力 84
戰略聚焦3-1 極度干燥：把品牌管理作為戰略成功的基礎 85
3.3 建立核心競爭力 89
3.4 外包 96
3.5 競爭力、優勢、劣勢和戰略決策 96
戰略聚焦3-2 外包公司轉型：從集成到自主開發 97
小結 98
關鍵術語 99
復習思考題 99
討論案例 Zara：西班牙“快時尚”零售店巨人的實力 100
注釋 101
第二篇 戰略行動：制定戰略
第4章 業務層戰略 108
開篇案例 海恩富集團：一個聚焦于“天然有機”差異化戰略的公司 109
4.1 顧客與業務層戰略的關系 112
4.2 業務層戰略的目的 116
4.3 業務層戰略的類型 117
戰略聚焦4-1 蘋果vs.三星：蘋果的差異化戰略和三星的模仿戰略 126
戰略聚焦4-2 睿俠公司失敗的集中戰略：戰略搖擺不定 130
小結 134
關鍵術語 135
復習思考題 135
討論案例 杰西潘尼用一種失敗的戰略自殺了嗎 135
注釋 136
第5章 競爭性對抗和動態競爭 142
開篇案例 谷歌有競爭對手嗎？高科技市場中的動態競爭 143
5.1 競爭性對抗模型 146
5.2 競爭者分析 147
戰略聚焦5-1 家樂氏騎虎難下了嗎 150
5.3 競爭性行動和競爭性反應的驅動力 150
5.4 競爭性對抗 152
5.5 攻擊的可能性 153
5.6 反應的可能性 157
5.7 動態競爭 159
戰略聚焦5-2 超市戰爭中的連鎖反應：奧樂齊正在改變許多國家的市場 163
小結 164
關鍵術語 166
復習思考題 166
討論案例 聯邦快遞和UPS：在激烈的競爭中屹立不倒 166
注釋 167
第6章 公司層戰略 172
開篇案例 迪士尼：利用相關多元化戰略創造價值 173
6.1 多元化的層次 175
6.2 多元化的原因 178
6.3 創造價值的多元化：相關約束型多元化和相關聯系型多元化 179
6.4 非相關多元化 185
戰略聚焦6-1 通用電氣和聯合技術公司：致力于內部資本市場配置和重組戰略 186
6.5 價值不確定的多元化：動機與資源 188
戰略聚焦6-2 可口可樂公司的多元化戰略：應對衰退的軟飲料市場 190
6.6 降低價值的多元化：管理者的多元化動機 193
小結 196
關鍵術語 196
復習思考題 196
討論案例 三一重工 197
注釋 198
第7章 并購戰略 204
開篇案例 并購：追求業績提升的公司所采取的重要戰略 205
7.1 并購戰略的風行 206
7.2 實施收購的原因 208
戰略聚焦7-1 平等合并：并非易事 209
戰略聚焦7-2 決定進行跨國收購的不同戰略依據 212
7.3 阻礙收購獲得成功的因素 216
7.4 有效的收購 222
7.5 重組 224
小結 227
關鍵術語 228
復習思考題 228
討論案例 思科的核心能力：戰略性收購和迅速整合 228
注釋 230
第8章 國際化戰略 236
開篇案例 網飛公司的國際化戰略 237
8.1 識別國際化機會 239
8.2 國際化戰略 243
戰略聚焦8-1 家具巨頭宜家的全球化戰略 248
8.3 環境趨勢 250
8.4 國際市場進入模式的選擇 252
8.5 國際環境中的風險 258
戰略聚焦8-2 國際足球產業以及國際足聯丑聞所帶來的影響 260
8.6 戰略競爭結果 262
8.7 國際化戰略的挑戰 264
小結 265
關鍵術語 266
復習思考題 266
討論案例 國際化戰略：ABB集團的發展引擎 266
注釋 268
第9章 合作戰略 276
開篇案例 谷歌、英特爾與泰格豪雅：合作生產智能手表 277
9.1 合作戰略的主要形式：戰略聯盟 279
9.2 業務層合作戰略 284
戰略聚焦9-1 戰略聯盟：特斯拉汽車的運營基礎 288
9.3 公司層合作戰略 290
9.4 國際合作戰略 292
9.5 網絡合作戰略 293
9.6 合作戰略帶來的競爭風險 295
戰略聚焦9-2 合作戰略并沒有帶來預期成功 296
9.7 對合作戰略的管理 297
小結 299
關鍵術語 300
復習思考題 300
討論案例 全球汽車工業中形成的全球聯盟和本地聯盟 300
注釋 302
第三篇 戰略行動：實施戰略
第10章 公司治理 308
開篇案例 20世紀80年代的企業狙擊手成為當今的維權股東 309
10.1 所有權和經營權的分離 312
10.2 所有權集中 317
10.3 董事會 319
戰略聚焦10-1 CEO應該得到巨額薪酬嗎 324
10.4 公司控制權市場 325
10.5 國際公司治理 328
戰略聚焦10-2 日本、德國和中國：股東參與者和股東積極主義者 330
10.6 治理機制和倫理行為 332
小結 333
關鍵術語 334
復習思考題 334
討論案例 摩根大通銀行的CEO：杰米·戴蒙 335
注釋 336
第11章 組織結構與控制 344
開篇案例 陸遜梯卡的兩職合一結構：長久制勝的關鍵還是失敗的一大誘因 345
11.1 組織的結構和控制 347
戰略聚焦11-1 麥當勞的組織結構變革：是業績提升的路徑嗎 348
11.2 戰略和結構的關系 351
11.3 戰略和組織結構的發展模式 351
戰略聚焦11-2 索尼公司的新組織結構：聚焦財務問責制和資源集中配制 362
11.4 實施業務層合作戰略 370
11.5 實施公司層合作戰略 371
11.6 實施國際化合作戰略 372
小結 373
關鍵術語 373
復習思考題 374
討論案例 創建可持續發展的環境：聯合利華與眾多企業和非營利組織合作以實現其戰略 374
注釋 375
第12章 戰略領導力 382
開篇案例 你有能力追隨一個榜樣并取得成功嗎—史蒂夫·喬布斯之后的蘋果公司與蒂姆·庫克 383
12.1 戰略領導力及其類型 384
12.2 高層管理者在公司中的角色 387
12.3 管理者的繼任與接替 391
戰略聚焦12-1 浴火重生：通用汽車公司的CEO繼任 395
12.4 關鍵戰略領導行動 396
戰略聚焦12-2 這些方式都可以讓你失敗 400
小結 406
關鍵術語 407
復習思考題 407
討論案例 寶潔公司管理層變動：一個關于CEO重要性的啟示 407
注釋 409
第13章 戰略創業 416
開篇案例 迪士尼成功的關鍵要素：創業激情與創新 417
13.1 創業和創業機會 419
13.2 創新 420
13.3 創業者 420
13.4 國際創業 421
13.5 內部創新 422
戰略聚焦13-1 奇異公司的創新之路 425
13.6 實施內部創新 427
13.7 通過合作戰略進行創新 430
13.8 通過收購實現創新 431
戰略聚焦13-2 什么導致美國運通公司缺乏創新：驕傲自大、懶惰倦怠還是能力欠缺 432
13.9 通過戰略創業創造價值 433
小結 435
關鍵術語 436
復習思考題 436
討論案例 杰西潘尼的失敗創新：原因和結果 436
注釋 437
第四篇 準備進行有效的案例分析
Contents
Part 1: Strategic Management Inputs 2
1: Strategic Management and Strategic Competitiveness 2
Opening Case: Alibaba: An Online Colossus in China Goes Global 3
1-1 The Competitive Landscape 7
1-1a The Global Economy 8
1-1b Technology and Technological Changes 10
Strategic Focus: Starbucks Is “Juicing” Its Earnings per Store through Technological Innovations 11
1-2 The I/O Model of Above-Average Returns 14
1-3 The Resource-Based Model of Above-Average Returns 16
1-4 Vision and Mission 18
1-4a Vision 18
1-4b Mission 19
1-5 Stakeholders 19
Strategic Focus: The Failure of BlackBerry to Develop an Ecosystem of Stakeholders 20
1-5a Classications of Stakeholders 21
1-6 Strategic Leaders 25
1-6a The Work of Eective Strategic Leaders 25
1-7 The Strategic Management Process 26
Summary 28 · Key Terms 28 · Review Questions 29 · Mini-Case 29 · Notes 30
2: The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis 38
Opening Case: Are There Cracks in the Golden Arches? 39
2-1 The General, Industry, and Competitor Environments 41
2-2 External Environmental Analysis 43
2-2a Scanning 43
2-2b Monitoring 44
2-2c Forecasting 44
2-2d Assessing 45
2-3 Segments of the General Environment 45
2-3a The Demographic Segment 45
2-3b The Economic Segment 48
2-3c The Political/Legal Segment 49
2-3d The Sociocultural Segment 50
2-3e The Technological Segment 51
2-3f The Global Segment 52
2-3g The Sustainable Physical Environment Segment 53
Strategic Focus: Target Lost Its Sway Because Tar-zhey No Longer Drew the Customers 54
2-4 Industry Environment Analysis 55
2-4a Threat of New Entrants 56
2-4b Bargaining Power of Suppliers 59
2-4c Bargaining Power of Buyers 60
2-4d Threat of Substitute Products 60
2-4e Intensity of Rivalry among Competitors 60
2-5 Interpreting Industry Analyses 63
2-6 Strategic Groups 63
Strategic Focus: Watch Out All Retailers, Here Comes Amazon; Watch Out Amazon, Here Comes Jet.com 64
2-7 Competitor Analysis 652-8 Ethical Considerations 67Summary 68 · Key Terms 68 · Review Questions 68 · Mini-Case 69 · Notes 70
3: The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages 76
Opening Case: Data Analytics, Large Pharmaceutical Companies, and Core Competencies: A Brave New World 77
3-1 Analyzing the Internal Organization 79
3-1a The Context of Internal Analysis 79
3-1b Creating Value 81
3-1c The Challenge of Analyzing the Internal Organization 81
3-2 Resources, Capabilities, and Core Competencies 84
3-2a Resources 84
Strategic Focus: Strengthening the Superdry Brand as a Foundation to Strategic Success 85
3-2b Capabilities 88
3-2c Core Competencies 89
3-3 Building Core Competencies 89
3-3a The Four Criteria of Sustainable Competitive Advantage 89
3-3b Value Chain Analysis 93
3-4 Outsourcing 96
3-5 Competencies, Strengths, Weaknesses, and Strategic Decisions 96
Strategic Focus: “We’re Outsourcing that Activity but Not That One? I’m Surprised!” 97
Summary 98 · Key Terms 99 · Review Questions 99 · Mini-Case 100 · Notes 101
Part 2: Strategic Actions: Strategy Formulation 108
4: Business-Level Strategy 108
Opening Case: Hain Celestial Group: A Firm Focused on “Organic” Dierentiation 109
4-1 Customers: Their Relationship with Business-Level Strategies 112
4-1a Eectively Managing Relationships with Customers 112
4-1b Reach, Richness, and Aliation 113
4-1c Who: Determining the Customers to Serve 114
4-1d What: Determining Which Customer Needs to Satisfy 114
4-1e How: Determining Core Competencies Necessary to Satisfy Customer Needs 115
4-2 The Purpose of a Business-Level Strategy 116
4-3 Types of Business-Level Strategies 117
4-3a Cost Leadership Strategy 118
4-3b Dierentiation Strategy 122
Strategic Focus: Apple vs. Samsung: Apple Dierentiates and Samsung Imperfectly Imitates 126
4-3c Focus Strategies 127
4-3d Integrated Cost Leadership/Dierentiation Strategy 129
Strategic Focus: RadioShack’s Failed Focus Strategy: Strategic Flip-Flopping 130
Summary 134 · Key Terms 135 · Review Questions 135 · Mini-Case 135 · Notes 136
5: Competitive Rivalry and Competitive Dynamics 142
Opening Case: Does Google Have Competition? Dynamics of the High Technology Markets 143
5-1 A Model of Competitive Rivalry 146
5-2 Competitor Analysis 147
5-2a Market Commonality 147
5-2b Resource Similarity 148
Strategic Focus: Does Kellogg Have the Tiger by the Tail or Is It the Reverse? 150
5-3 Drivers of Competitive Behavior 150
5-4 Competitive Rivalry 152
5-4a Strategic and Tactical Actions 152
5-5 Likelihood of Attack 153
5-5a First-Mover Benets 153
5-5b Organizational Size 155
5-5c Quality 156
5-6 Likelihood of Response 157
5-6a Type of Competitive Action 157
5-6b Actor’s Reputation 158
5-6c Market Dependence 158
5-7 Competitive Dynamics 159
5-7a Slow-Cycle Markets 159
5-7b Fast-Cycle Markets 161
5-7c Standard-Cycle Markets 162
Strategic Focus: The Ripple Eect of Supermarket Wars: Aldi Is Changing the Markets in Many Countries 163
Summary 164 · Key Terms 166 · Review Questions 166 · Mini-Case 166 · Notes 167
6: Corporate-Level Strategy 172
Opening Case: Disney Adds Value Using a Related Diversication Strategy 173
6-1 Levels of Diversication 175
6-1a Low Levels of Diversication 176
6-1b Moderate and High Levels of Diversication 177
6-2 Reasons for Diversication 178
6-3 Value-Creating Diversication: Related Constrained and Related Linked Diversication 179
6-3a Operational Relatedness: Sharing Activities 180
6-3b Corporate Relatedness: Transferring of Core Competencies 181
6-3c Market Power 182
6-3d Simultaneous Operational Relatedness and Corporate Relatedness 184
6-4 Unrelated Diversication 185
6-4a Ecient Internal Capital Market Allocation 185
Strategic Focus: GE and United Technology Are Firms that Have Pursued Internal Capital Allocation and Restructuring Strategies 186
6-4b Restructuring of Assets 187
6-5 Value-Neutral Diversication: Incentives and Resources 188
6-5a Incentives to Diversify 188
Strategic Focus: Coca-Cola’s Diversication to Deal with Its Reduced Growth in Soft Drinks 190
6-5b Resources and Diversication 192
6-6 Value-Reducing Diversication: Managerial Motives to Diversify 193
Summary 196 · Key Terms 196 · Review Questions 196 · Mini-Case 197 · Notes 198
7: Merger and Acquisition Strategies 204
Opening Case: Mergers and Acquisitions: Prominent Strategies for Firms Seeking to Enhance Their Performance 205
7-1 The Popularity of Merger and Acquisition Strategies 206
7-1a Mergers, Acquisitions, and Takeovers: What Are the Dierences? 207
7-2 Reasons for Acquisitions 208
Strategic Focus: A Merger of Equals: Making It Happen Isn’t Easy! 209
7-2a Increased Market Power 210
7-2b Overcoming Entry Barriers 211
Strategic Focus: Dierent Strategic Rationales Driving Cross-Border Acquisitions 212
7-2c Cost of New Product Development and Increased Speed to Market 213
7-2d Lower Risk Compared to Developing New Products 214
7-2e Increased Diversication 214
7-2f Reshaping the Firm’s Competitive Scope 215
7-2g Learning and Developing New Capabilities 215
7-3 Problems in Achieving Acquisition Success 216
7-3a Integration Diculties 217
7-3b Inadequate Evaluation of Target 218
7-3c Large or Extraordinary Debt 219
7-3d Inability to Achieve Synergy 220
7-3e Too Much Diversication 221
7-3f Managers Overly Focused on Acquisitions 221
7-3g Too Large 222
7-4 Eective Acquisitions 222
7-5 Restructuring 224
7-5a Downsizing 224
7-5b Downscoping 224
7-5c Leveraged Buyouts 225
7-5d Restructuring Outcomes 225
Summary 227 · Key Terms 228 · Review Questions 228 · Mini-Case 228 · Notes 230
8: International Strategy 236
Opening Case: Netix Ignites Growth Through International Expansion, But Such Growth Also Fires Up the Competition 237
8-1 Identifying International Opportunities 239
8-1a Incentives to Use International Strategy 239
8-1b Three Basic Benets of International Strategy 241
8-2 International Strategies 243
8-2a International Business-Level Strategy 243
8-2b International Corporate-Level Strategy 246
Strategic Focus: Furniture Giant IKEA’s Global Strategy 248
8-3 Environmental Trends 250
8-3a Liability of Foreignness 250
8-3b Regionalization 251
8-4 Choice of International Entry Mode 252
8-4a Exporting 253
8-4b Licensing 253
8-4c Strategic Alliances 254
8-4d Acquisitions 255
8-4e New Wholly Owned Subsidiary 256
8-4f Dynamics of Mode of Entry 257
8-5 Risks in an International Environment 258
8-5a Political Risks 258
8-5b Economic Risks 259
Strategic Focus: The Global Soccer Industry and the Eect of the FIFA Scandal 260
8-6 Strategic Competitiveness Outcomes 262
8-6a International Diversication and Returns 262
8-6b Enhanced Innovation 263
8-7 The Challenge of International Strategies 264
8-7a Complexity of Managing International Strategies 264
8-7b Limits to International Expansion 264
Summary 265 · Key Terms 266 · Review Questions 266 · Mini-Case 266 · Notes 268
9: Cooperative Strategy 276
Opening Case: Google, Intel, and Tag Heuer: Collaborating to Produce a Smartwatch 277
9-1 Strategic Alliances as a Primary Type of Cooperative Strategy 279
9-1a Types of Major Strategic Alliances 279
9-1b Reasons Firms Develop Strategic Alliances 281
9-2 Business-Level Cooperative Strategy 284
9-2a Complementary Strategic Alliances 284
9-2b Competition Response Strategy 286
9-2c Uncertainty-Reducing Strategy 287
9-2d Competition-Reducing Strategy 287
Strategic Focus: Strategic Alliances as the Foundation for Tesla Motors’ Operations 288
9-2e Assessing Business-Level Cooperative Strategies 290
9-3 Corporate-Level Cooperative Strategy 290
9-3a Diversifying Strategic Alliance 291
9-3b Synergistic Strategic Alliance 291
9-3c Franchising 291
9-3d Assessing Corporate-Level Cooperative Strategies 292
9-4 International Cooperative Strategy 292
9-5 Network Cooperative Strategy 293
9-5a Alliance Network Types 294
9-6 Competitive Risks with Cooperative Strategies 295
Strategic Focus: Failing to Obtain Desired Levels of Success with Cooperative Strategies 296
9-7 Managing Cooperative Strategies 297
Summary 299 · Key Terms 300 · Review Questions 300 · Mini-Case 300 · Notes 302
Part 3: Strategic Actions: Strategy Implementation 308
10: Corporate Governance 308
Opening Case: The Corporate Raiders of the 1980s Have Become the Activist Shareholders of Today 309
10-1 Separation of Ownership and Managerial Control 312
10-1a Agency Relationships 313
10-1b Product Diversication as an Example of an Agency Problem 314
10-1c Agency Costs and Governance Mechanisms 316
10-2 Ownership Concentration 317
10-2a The Increasing Inuence of Institutional Owners 318
10-3 Board of Directors 319
10-3a Enhancing the Eectiveness of the Board of Directors 321
10-3b Executive Compensation 322
10-3c The Eectiveness of Executive Compensation 323
Strategic Focus: Do CEOs Deserve the Large Compensation Packages They Receive? 324
10-4 Market for Corporate Control 325
10-4a Managerial Defense Tactics 326
10-5 International Corporate Governance 328
10-5a Corporate Governance in Germany and Japan 328
Strategic Focus: “Engagement” versus “Activist” Shareholders in Japan, Germany, and China 330
10-5b Corporate Governance in China 331
10-6 Governance Mechanisms and Ethical Behavior 332
Summary 333 · Key Terms 334 · Review Questions 334 · Mini-Case 335 · Notes 336
11: Organizational Structure and Controls 344
Opening Case: Luxottica’s Dual CEO Structure: A Key to Long-Term Success or a Cause for Concern? 345
11-1 Organizational Structure and Controls 347
11-1a Organizational Structure 347
Strategic Focus: Changing McDonald’s Organizational Structure: A Path to Improved Performance? 348
11-1b Organizational Controls 350
11-2 Relationships between Strategy and Structure 351
11-3 Evolutionary Patterns of Strategy and Organizational Structure 351
11-3a Simple Structure 352
11-3b Functional Structure 353
11-3c Multidivisional Structure 353
11-3d Matches between Business-Level Strategies and the Functional Structure 354
11-3e Matches between Corporate-Level Strategies and the Multidivisional Structure 357
Strategic Focus: Sony Corporation’s New Organizational Structure: Greater Financial Accountability and Focused Allocations of Resources 362
11-3f Matches between International Strategies and Worldwide Structure 365
11-3g Matches between Cooperative Strategies and Network Structures 369
11-4 Implementing Business-Level Cooperative Strategies 370
11-5 Implementing Corporate-Level Cooperative Strategies 371
11-6 Implementing International Cooperative Strategies 372
Summary 373 · Key Terms 373 · Review Questions 374 · Mini-Case 374 · Notes 375
12: Strategic Leadership 382
Opening Case: Can You Follow an Icon and Succeed? Apple and Tim Cook After Steve Jobs 383
12-1 Strategic Leadership and Style 384
12-2 The Role of Top-Level Managers 387
12-2a Top Management Teams 387
12-3 Managerial Succession 391
Strategic Focus: Trial by Fire: CEO Succession at General Motors 395
12-4 Key Strategic Leadership Actions 396
12-4a Determining Strategic Direction 396
12-4b Eectively Managing the Firm’s Resource Portfolio 397
Strategic Focus: All the Ways You Can Fail! 400
12-4c Sustaining an Eective Organizational Culture 401
12-4d Emphasizing Ethical Practices 402
12-4e Establishing Balanced Organizational Controls 403
Summary 406 · Key Terms 407 · Review Questions 407 · Mini-Case 407 · Notes 409
13: Strategic Entrepreneurship 416
Opening Case: Entrepreneurial Fervor and Innovation Drive Disney’s Success 417
13-1 Entrepreneurship and Entrepreneurial Opportunities 419
13-2 Innovation 420
13-3 Entrepreneurs 420
13-4 International Entrepreneurship 421
13-5 Internal Innovation 422
13-5a Incremental and Novel Innovation 423
Strategic Focus: Innovation Can Be Quirky 425
13-5b Autonomous Strategic Behavior 426
13-5c Induced Strategic Behavior 427
13-6 Implementing Internal Innovations 427
13-6a Cross-Functional Product Development Teams 428
13-6b Facilitating Integration and Innovation 429
13-6c Creating Value from Internal Innovation 429
13-7 Innovation through Cooperative Strategies 430
13-8 Innovation through Acquisitions 431
Strategic Focus: What Explains the Lack of Innovation at American Express? Is It Hubris, Inertia, or Lack of Capability? 432
13-9 Creating Value through Strategic Entrepreneurship 433
Summary 435 · Key Terms 436 · Review Questions 436 · Mini-Case 436 · Notes 437
Part 4: Preparing an Eective Case Analysis C-1
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