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Cover of Mastering Strategic Management v3.0
Published: 
September 2021
Page Count: 
354
ISBN (Digital): 
978-1-4533-3765-3

Mastering Strategic Management

Version 3.0
By Dave Ketchen and Jeremy Short

Included Supplements

Key Features

  • Concise treatment features short cases and many organizational examples from well-known corporations, such as Disney, Kia, Starbucks, Subway, and Tesla  
    • Focus on SWOT analysis and market positioning. Treatment of SWOT analysis was lauded as superior in a recent study in the Journal of Management Education.
    • Unique graphic displays summarize key concepts in an appealing and memorable format
    • Supportive learning structure
    • Learning Objectives begin each chapter and introduce each main section
    • Chapter-opening case examples cover relevant and well-known businesses to pique reader’s interest
    • Research Round-Up briefly summarizes cutting-edge research findings and their implications, such as “The Importance of Strategic Resources for Company Performance” (Chapter 4)
    • Strategy at the Movies uses popular motion-pictures that illuminate key concepts, such as The Social Network to illustrate intended, emergent and realized strategies (Chapter 1) or Thank You for Smoking to provoke critical thinking about corporate ethics and moral reasoning (Chapter 10)
    • Small Business Spotlight focuses on entrepreneurs who devised unique and successful strategic solutions
    • Top-Shelf Reading highlights a popular-press book based on chapter topics to expand conceptual understanding
    • Key Takeaway mirrors and summarizes the immediately preceding Learning Objectives to enhance learning and recall
    • Exercises outline individual and group exercises to stimulate critical thinking and collaborative learning that mirrors collegial interactions in the business world. Suggested answer guidelines or outcomes are provided in the instructor’s manual.
    • Conclusion provides an overall chapter summary to augment section-by-section Key Takeaways
  • Customizable

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Mastering Strategic Management is appropriate for undergraduate, MBA, or graduate-level courses on management strategy usually taught in four-year colleges and universities.

The authors draw on insights from various functional subject matters such as marketing, finance, and accounting to demonstrate how top executives make the strategic decisions that drive whether an organization succeeds or fails. Students are encouraged to engage with the material and concepts through graphic displays, illustrative examples, and unique motion-picture links. This edition has been updated to include fresh cases and examples that have been reviewed by the authors and other leading academics to ensure that students have the most current and relevant knowledge about driving an organization’s successful performance by making smart strategic choices.

New in This Version

  • New or substantially revised coverage includes
    • Tesla, which is also extensively integrated throughout the chapter (Chapter 1)
    • How McDonald’s and others are challenging Starbuck’s dominance in the coffee business (Chapter 2)
    • Subway’s recent struggles (Chapter 3)
    • Southwest Airlines’ expansion into Hawaii (Chapter 4)
    • Target terminating some of its house brands and adding new ones (Chapter 5)
    • The Merck vs. Gilead patent dispute over hepatitis C treatments (Chapter 6)
    • Hyundai Motor Group’s $3 billion investment in U.S. manufacturing (Chapter 7)
    • Disney’s success with the new generation of Star Wars movies (Chapter 8)
    • General Electric’s new chief executive officer (Chapter 9)
    • Recent successes and struggles at TOMS Shoes (Chapter 10)
  • Coverage of the coronavirus pandemic’s impact on businesses integrated into all chapters without being overwhelming
  • About the Authors
  • Acknowledgments
  • Dedications
  • Preface

    • Chapter 1: Mastering Strategy: Art and Science

  • 1.1 Defining Strategic Management and Strategy
  • 1.2 Intended, Emergent, and Realized Strategies
  • 1.3 The History of Strategic Management
  • 1.4 Understanding the Strategic Management Process
  • 1.5 Conclusion

    • Chapter 2: Leading Strategically

  • 2.1 Vision, Mission, and Goals
  • 2.2 Assessing Organizational Performance
  • 2.3 The CEO as Celebrity
  • 2.4 Entrepreneurial Orientation
  • 2.5 Conclusion

    • Chapter 3: Evaluating the External Environment

  • 3.1 The Relationship between an Organization and Its Environment
  • 3.2 Evaluating the General Environment
  • 3.3 Evaluating the Industry
  • 3.4 Mapping Strategic Groups
  • 3.5 Conclusion

    • Chapter 4: Managing Company Resources

  • 4.1 Resource-Based Theory
  • 4.2 Intellectual Property
  • 4.3 Value Chain
  • 4.4 Beyond Resource-Based Theory: Other Views on Company Performance
  • 4.5 SWOT Analysis
  • 4.6 Conclusion

    • Chapter 5: Selecting Business-Level Strategies

  • 5.1 Understanding Business-Level Strategy through “Generic Strategies”
  • 5.2 Cost Leadership
  • 5.3 Differentiation
  • 5.4 Focused Cost Leadership and Focused Differentiation
  • 5.5 Best-Cost Strategy
  • 5.6 Stuck in the Middle
  • 5.7 Conclusion

    • Chapter 6: Supporting the Business-Level Strategy: Competitive and Cooperative Moves

  • 6.1 Making Competitive Moves
  • 6.2 Responding to Competitors’ Moves
  • 6.3 Making Cooperative Moves
  • 6.4 Conclusion

    • Chapter 7: Competing in International Markets

  • 7.1 Advantages and Disadvantages of Competing in International Markets
  • 7.2 Drivers of Success and Failure When Competing in International Markets
  • 7.3 Types of International Strategies
  • 7.4 Options for Competing in International Markets
  • 7.5 Conclusion

    • Chapter 8: Selecting Corporate-Level Strategies

  • 8.1 Concentration Strategies
  • 8.2 Vertical Integration Strategies
  • 8.3 Diversification Strategies
  • 8.4 Strategies for Getting Smaller
  • 8.5 Portfolio Planning and Corporate-Level Strategy
  • 8.6 Conclusion

    • Chapter 9: Executing Strategy through Organizational Design

  • 9.1 The Basic Building Blocks of Organizational Structure
  • 9.2 Creating an Organizational Structure
  • 9.3 Creating Organizational Control Systems
  • 9.4 Legal Forms of Business
  • 9.5 Conclusion

    • Chapter 10: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

  • 10.1 Boards of Directors
  • 10.2 Corporate Ethics and Social Responsibility
  • 10.3 Understanding Thought Patterns: A Key to Corporate Leadership?
  • 10.4 Conclusion
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    Instructor’s Manual

    Instructor’s Manual

    The Instructor’s Manual guides you through the main concepts of each chapter and important elements such as learning objectives, key terms, and key takeaways. Can include answers to chapter exercises, group activity suggestions, and discussion questions.

    Instructor’s Manual

    PowerPoint Lecture Notes

    PowerPoint Lecture Notes

    A PowerPoint presentation highlighting key learning objectives and the main concepts for each chapter are available for you to use in your classroom. You can either cut and paste sections or use the presentation as a whole.

    PowerPoint Lecture Notes

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    Test Bank Files for Import to Learning Management Systems

    Test Bank Files for Import to Learning Management Systems

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    Test Item File

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    Sample Syllabi

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    Dave Ketchen Auburn University

    Dave Ketchen serves as Harbert Eminent Scholar and Professor of Management at Auburn University. An award-winning educator, Ketchen teaches courses in Strategic Management, Principles of Management, Franchising, and the Business of Brewing. His research interests include strategic management, entrepreneurship, research methods, and strategic supply-chain management. He has published more than one hundred eighty articles in journals such as Administrative Science Quarterly, Academy of Management Journal, and Strategic Management Journal. He has served on thirteen editorial boards, including those of Academy of Management Review, Strategic Management Journal, and Journal of Management Studies. He has served as associate editor for eight journals, including Academy of Management Journal, Strategic Entrepreneurship Journal, Journal of International Business Studies, and Organizational Research Methods. Ketchen serves on the board of directors for the Why Not Win Institute, has acted as an expert witness, and has assisted a variety of private- and public-sector entities with strategic planning. He is the former chair of the board of directors for Alabama Launchpad (a statewide startup competition) and served on the Steering Committee for the Michelin Development–East Alabama (an entity that provided low-interest loans to fuel job creation). He has written for the Wall Street Journal, The Hill, The Conversation, and other leading outlets for business insights.

    Jeremy Short University of North Texas - Denton

    Jeremy Short (PhD Louisiana State University) is the G. Brint Ryan Chair in Entrepreneurship at the University of North Texas. His research examines crowdfunding and the drivers of business performance in both entrepreneurial and larger firms. Jeremy’s teaching expertise was recognized with the Regent’s Award for Superior Teaching when he was on faculty at the University of Oklahoma. Jeremy has also written several traditional and unorthodox low-cost textbooks including a graphic novel focusing on management and entrepreneurship (Atlas Black: The Complete Adventure), as well as a graphic novel focusing on franchising and family business (Tales of Garcón: The Franchise Players). Jeremy was inducted as a Southern Management Association Fellow on several factors, including the publication of more than 100 articles and book chapters in such journals as Academy of Management Journal, Strategic Management Journal, Strategic Entrepreneurship Journal, Organization Science, Personnel Psychology, Organizational Behavior and Human Decision Processes, Academy of Management Learning and Education, and Journal of Business Venturing. His work has also been featured in media outlets such as CNBC, Forbes, Scientific American Mind, The Wall Street Journal, BizEd, Franchise Times, Tulsa World, and The Oklahoman. Jeremy also served as editor for several leading journals including Journal of Management, Entrepreneurship Theory & Practice, Organizational Research Methods, and Family Business Review. 

    Additions & Errata

    2/2/22: Figures 1.3 and 3.15 updated

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