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1 THIRTEENTH EDITION. Strategic Management CONCEPTS AND CASES. Fred R. David Francis Marion University Florence, South Carolina Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Strategic Management CONCEPTS AND CASES. Editorial Director: Sally Yagan Manager, Visual Research: Beth Brenzel Editor in Chief: Eric Svendsen Manager, Rights and Permissions: Zina Arabia Acquisitions Editor: Kim Norbuta Image Permission Coordinator: Cynthia Vincenti Product Development Manager: Ashley Santora Manager, Cover Visual Research & Permissions: Editorial Project Manager: Claudia Fernandes Karen Sanatar Editorial Assistant: Meg O'Rourke Cover Art: Vetta TM Collection Dollar Bin: Director of Marketing.

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3 Copyright 2011, 2009, 2007 by Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc.

4 , Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458. Many of the designations by manufacturers and seller to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been printed in initial caps or all caps. Library of Congress Cataloging-in-Publication Data David, Fred R. Strategic Management : concepts and cases / Fred R. David. 13th ed. p. cm. Includes bibliographical references and index.

5 ISBN-13: 978-0-13-612098-8 (casebound). ISBN-10: 0-13-612098-9 (casebound). 1. Strategic planning. 2. Strategic planning case studies. I. Title. 2011. '012 dc22. 2009052036. 10 9 8 7 6 5 4 3 2. ISBN 10: 0-13-612098-9. ISBN 13: 978-0-13-612098-8. To Joy, Forest, Byron, and Meredith . my wife and children . for their encouragement and love. Brief Contents Preface xvii Acknowledgments xxiii Part 4. About the Author xxvii Strategy Evaluation 284. Chapter 9. Part 1 Strategy Review, Evaluation, Overview of Strategic Management 2 and Control 284.

6 Chapter 1 Part 5. The Nature of Strategic Management 2. Key Strategic - Management Topics 308. THE COHESION case : MCDONALD'S 2009 27. Chapter 10. Part 2 Business Ethics/Social Responsibility/. Strategy Formulation 40 Environmental Sustainability 308. Chapter 2 Chapter 11. The Business Vision and Mission 40 Global/International Issues 328. Chapter 3 Part 6. The External Assessment 58. Strategic - Management case Chapter 4 Analysis 346. The Internal Assessment 90 How to Prepare and Present Chapter 5 a case Analysis 346.

7 Strategies in Action 130 Name Index 359. Chapter 6 Subject Index 363. Strategy Analysis and Choice 172. Part 3. Strategy Implementation 210. Chapter 7. Implementing Strategies: Management and Operations Issues 210. Chapter 8. Implementing Strategies: Marketing, Finance/. Accounting, R&D, and MIS Issues 250. vii Contents Preface xvii What Is Our Business? 43. Vision versus Mission 45 & The Process of Developing Vision Acknowledgments xxiii and Mission Statements 46. About the Author xxvii Importance (Benefits) of Vision and Mission Statements 47.

8 Part 1 A Resolution of Divergent Views 48. Overview of Strategic Management 2 Characteristics of a Mission Statement 49. A Declaration of Attitude 49 & A Customer Chapter 1 Orientation 50 & Mission Statement Components 51. The Nature of Strategic Management 2 Writing and Evaluating Mission Statements 53. MCDONALD'S CORPORATION: DOING GREAT ASSURANCE OF LEARNING EXERCISES 56. IN A WEAK ECONOMY 4. Assurance of Learning Exercise 2A: Evaluating Mission What Is Strategic Management ? 5 Statements 56. Defining Strategic Management 6 & Stages of Assurance of Learning Exercise 2B: Writing a Vision and Mission Strategic Management 6 & Integrating Intuition Statement for McDonald's Corporation 56.

9 And Analysis 7 & Adapting to Change 8 Assurance of Learning Exercise 2C: Writing a Vision and Mission Key Terms in Strategic Management 9 Statement for My University 57. Competitive Advantage 9 & Strategists 10 & Vision and Mission Assurance of Learning Exercise 2D: Conducting Mission Statement Statements 11 & External Opportunities and Threats 11& Research 57. Internal Strengths and Weaknesses 12 & Long-Term Objectives 13. & Strategies 13 & Annual Objectives 13 & Policies 14. The Strategic - Management Model 14 Chapter 3.

10 Benefits of Strategic Management 16 The External Assessment 58. Financial Benefits 17 & Nonfinancial Benefits 18 DUNKIN' BRANDS, INC.: DOING GREAT IN A WEAK. Why Some Firms Do No Strategic Planning 18 ECONOMY 60. Pitfalls in Strategic Planning 19 The Nature of an External Audit 61. Guidelines for Effective Strategic Management 19 Key External Forces 61 & The Process of Performing an External Audit 62. Comparing Business and Military Strategy 21. The Industrial Organization (I/O) View 63. THE COHESION case : MCDONALD'S.