Strategic Management: Concepts 2e by Frank T. Rothaermel combines quality and user-friendliness with rigor and relevance by synthesizing theory, empirical research, and practical applications in this new edition, which is designed to prepare students for the types of challenges they will face as managers in the globalized and turbulent business environment of the 21st century. With a single, strong voice that weaves together classic and cutting-edge theory with in-chapter cases and strategy highlights, to teach students how companies gain and sustain competitive advantage.
Frank T. Rothaermel is a professor in the Scheller College of Business at the Georgia Institute of Technology and an Alfred P. Sloan Industry Studies Fellow. He holds the Russell and Nancy McDonough Chair of Business and received a National Science Foundation CAREER Award.
Book challenge 2015, category: "Completing a book you started but did not finish".
Well, this is by no means the book which has been left half-read the longest. I started it in October 2014 and it's only January now. In between has been a few rough months in which I lost a bit of zest.
Anyway, with this book I finally hit the jack-pot. It explains the core concepts of strategic management very well. Aditionally, for inspiration, the multi national enterprise I work is mentioned several times.
"Strategy describes the goal-directed actions a firm intends to take in its quest to gain and sustain competetive advantage". Sounds so easy and is so difficult in reality. Implementation is much more difficult than strategy formation.
"Strategy implementation often fails because managers are unable to make the necessary changes due to its effects on resource allocation and power distribution within an organization". Structure most follow strategy, not the other way around. That certainly gives me food for thought.
This is an excellent, clear, consice book on strategy. Certainly intended for students, but that I am no longer. I just believe in the concept of educating myself and making sure I don't have too many white spots. This book has lent me useful insights and I'll probably be keeping it in my office for handy insight.