Strategic Management: Creating Value In Turbulent Times

Change is simply a fact of life. And nowhere is this fact more apparent than in today's turbulent business environment. To survive and be successful, firms must be able to address and overcome complex problems, such as changing industry boundaries, globalization, and emerging technologies.

This groundbreaking text approaches strategic management from a managerial perspective, distinguishing between strategy (the common theme underlying a set of strategic decisions) and strategic management (the task of creating organizations that generate value in a turbulent world). Recognizing the major challenges facing managers of global companies, the authors have written a truly international text, using a wealth of company examples from Europe, Asia, and North America. In addition to covering topics traditionally associated with strategic management, Peter FitzRoy and James Hulbert have identified important themes that have been neglected by competing texts.

The authors: Emphasize the importance of developing strategies for dealing with both incremental and discontinuous change, and the consequent need for continual organizational renewal. Address the importance of a firm's intangible assets, including competences and the role of knowledge management systems. Explore the impact of financial markets on the strategic activities of a firm. Discuss organizational performance and stress that firms need to develop financial and non-financial performance measures. Provide in-depth coverage of key areas such as environmental analysis, business and corporate level strategy, corporate governance, strategy implementation, and the new economy.

This MBA level book offers a managerial perspective of strategic management, which the authors define as the task of creating organizations that generate value in a turbulent world. It covers all core areas of the subject in depth, but also includes many topics omitted by competing titles. Written in an accessible style and drawing on numerous examples of leading companies, Fitzroy and Hulbert demonstrate that the major driver of success is the quality of a firms strategic management. Their clear learning objectives will ensure that readers emerge equipped to meet this challenge.