Saudi National Oil Company External Growth Strategies and Implementation Paper Strategic Recommendations In developing this assignment, you have an opport

Saudi National Oil Company External Growth Strategies and Implementation Paper Strategic Recommendations

In developing this assignment, you have an opportunity to synthesize and apply the concepts, principles, and theories. You will be writing a paper in response to the following hypothetical situation.

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Scenario:

You work in strategy planning for a KSA organization. You’ve been in the organization in a variety of roles for five years. Recently, the senior leadership team determined that your organization needs an effective strategy planning process for international growth, and you’ve gladly stepped into a role to help determine what strategic planning process is needed to assist with becoming a multinational organization.

You’ve been asked by the senior management team to present specific strategic planning recommendations to help the senior management team better understand the concepts and principles of a well-designed multinational strategy planning process. Your recommendations will include a strategy planning process specific for your organization and industry designed for multinational growth.

Instructions:

Your well-written paper should include the following elements and meet the following requirements:

The type of hypothetical organization and industry is up to you. Describe your hypothetical organization in terms of its industry, type (private or public sector), structure and systems, and products or services provided. Identify the major areas of change that influence this industry and the changes needed for the international context. How important are ethical and cultural relationships when implementing organizational change in Saudi Arabia and in the new country?
Present the strategy concepts, theories, and principles that you believe are most important for the senior executive leadership team to understand. If there are contradicting opinions from strategy experts, you may want to present both sides objectively. What management issues may result from managing this type of growth strategy?
Consider the variety of strategic planning approaches that you have learned during this course and identify the strategy planning methods that will work best as your hypothetical organization becomes international. Make sure to consider analysis, formulation and implementation methods. For each strategy planning method, include a clear and understandable title along with a brief description of one or two sentences to share your understanding. Then explain the benefits and value of each method specific to your organization.
Your well-written paper should meet the following requirements:
Be 9 to 10 pages in length, which does not include the required title and reference pages, which are never a part of the content minimum requirements.
Use academic writing standards and APA style guidelines.
Support your submission with course material concepts, principles, and theories from the textbook and at least three scholarly, peer-reviewed journal articles unless the assignment calls for more.

The attached book must be used C O N T E M POR A R Y
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ISBN: 978-1-119-49572-7 (PBK)
ISBN: 978-1-119-49565-9 (EVALC)
Library of Congress Cataloging-in-Publication Data
Names: Grant, Robert M., 1948– author.
Title: Contemporary strategy analysis / Robert M. Grant.
Description: Tenth edition. | Hoboken, NJ : Wiley & Sons, 2018. | Includes
index. | Description based on print version record and CIP data provided
by publisher; resource not viewed.
Identifiers: LCCN 2018037723 (print) | LCCN 2018041783 (ebook) | ISBN
9781119495796 (Adobe PDF) | ISBN 9781119495673 (ePub) | ISBN 9781119495727
(pbk.)
Subjects: LCSH: Strategic planning.
Classification: LCC HD30.28 (ebook) | LCC HD30.28 .G722 2018 (print) | DDC
658.4/012—dc23
LC record available at https://lccn.loc.gov/2018037723
The inside back cover will contain printing identification and country of origin if omitted from this page.
In addition, if the ISBN on the back cover differs from the ISBN on this page, the one on the back cover is
correct.
To Liam, Ava, Finn, Evie, Max, Lucy, and Bobby
BRIEF CONTENTS
Author Biography
Preface to Tenth Edition
PART I
1
INTRODUCTION
The Concept of Strategy
xiv
xv
1
3
PART II THE TOOLS OF STRATEGY ANALYSIS
31
2
Goals, Values, and Performance
33
3
Industry Analysis: The Fundamentals
59
4
Further Topics in Industry and Competitive Analysis
83
5
Analyzing Resources and Capabilities
107
6
Organization Structure and Management Systems:
The ­Fundamentals of Strategy Implementation
131
PART III BUSINESS STRATEGY AND THE QUEST FOR
COMPETITIVE ADVANTAGE
153
7
The Sources and Dimensions of Competitive Advantage
155
8
Industry Evolution and Strategic Change
189
9
Technology-Based Industries and the
Management of Innovation
219
PART IV
CORPORATE STRATEGY
249
10 Vertical Integration and the Scope of the Firm
251
11 Global Strategy and the Multinational Corporation
269
12 Diversification Strategy
297
viii BRIEF CONTENTS
13 Implementing Corporate Strategy: Managing
the Multibusiness Firm
315
14 External Growth Strategies: Mergers, Acquisitions,
and Alliances
340
15 Current Trends in S
­ trategic Management
360
CASES TO ACCOMPANY CONTEMPORARY STRATEGY
ANALYSIS, TENTH EDITION
Glossary
Index
637
643
CONTENTS
Author Biography
Preface to Tenth Edition
xiv
xv
PART I INTRODUCTION
1
1
3
The Concept of Strategy
Introduction and Objectives
The Role of Strategy in Success
The Basic Framework for Strategy Analysis
A Brief History of Business Strategy
Strategy Today
How is Strategy Made? The Strategy Process
Strategic Management of Not-For-Profit Organizations
Summary
Self-Study Questions
Notes
4
4
9
11
14
20
24
26
28
28
PART II THE TOOLS OF STRATEGY ANALYSIS
31
2
Goals, Values, and Performance
33
Introduction and Objectives
Strategy as a Quest for Value
Profit, Cash Flow, and Enterprise Value
Putting Performance Analysis into Practice
Beyond Profit: Values and Corporate Social Responsibility
Beyond Profit: Strategy and Real Options
Summary
Self-Study Questions
Notes
34
35
39
42
49
53
56
57
57
Industry Analysis: The Fundamentals
59
Introduction and Objectives
From Environmental Analysis to Industry Analysis
Analyzing Industry Attractiveness
Applying Industry Analysis to Forecasting Industry Profitability
Using Industry Analysis to Develop Strategy
Defining Industries: Where to Draw the Boundaries
From Industry Attractiveness to Competitive Advantage:
Identifying Key Success Factors
60
60
62
71
74
75
3
77
x CONTENTS
4
5
6
Summary
Self-Study Questions
Notes
80
81
81
Further Topics in Industry and Competitive Analysis
83
Introduction and Objectives
The Limits of Industry Analysis
Beyond the Five Forces: Complements, Ecosystems, and Business Models
Competitive Interaction: Game Theory and Competitor Analysis
Segmentation and Strategic Groups
Summary
Self-Study Questions
Notes
84
84
86
91
98
103
103
104
Analyzing Resources and Capabilities
107
Introduction and Objectives
The Role of Resources and Capabilities in Strategy Formulation
Identifying Resources and Capabilities
Appraising Resources and Capabilities
Developing Strategy Implications
Summary
Self-Study Questions
Notes
108
108
112
119
123
128
129
130
Organization Structure and Management Systems:
The ­Fundamentals of Strategy Implementation
131
Introduction and Objectives
Strategy Formulation and Strategy Implementation
The Fundamentals of Organizing: Specialization,
Cooperation, and Coordination
Developing Organizational Capability
Organization Design
Summary
Self-Study Questions
Notes
132
133
136
139
142
150
150
151
PART III BUSINESS STRATEGY AND THE QUEST
FOR COMPETITIVE ADVANTAGE
153
7
The Sources and Dimensions of Competitive Advantage
155
Introduction and Objectives
How Is Competitive Advantage Established?
How Is Competitive Advantage Sustained?
Cost Advantage
Differentiation Advantage
Can Firms Pursue Both Cost and Differentiation Advantage?
156
156
162
166
173
184
CONTENTS   xi
8
9
Summary
Self-Study Questions
Notes
185
186
186
Industry Evolution and Strategic Change
189
Introduction and Objectives
The Industry Life Cycle
The Challenge of Organizational Adaptation and Strategic Change
Managing Strategic Change
Summary
Self-Study Questions
Notes
190
191
198
204
215
215
216
Technology-Based Industries and the
Management of Innovation
219
Introduction and Objectives
Competitive Advantage in Technology-Intensive Industries
Strategies to Exploit Innovation: How and When to Enter
Standards, Platforms, and Network Externalities
Implementing Technology Strategies: Internal and External
Sources of Innovation
Implementing Technology Strategies: Organizing for Innovation
Summary
Self-Study Questions
Notes
220
221
227
232
238
242
245
246
246
PART IV CORPORATE STRATEGY
249
10 Vertical Integration and the Scope of the Firm
251
Introduction and Objectives
Transaction Costs and the Scope of the Firm
The Benefits and Costs of Vertical Integration
Designing Vertical Relationships
Summary
Self-Study Questions
Notes
11 Global Strategy and the Multinational Corporation
Introduction and Objectives
Implications of International Competition for Industry Analysis
Analyzing Competitive Advantage in an International Context
Internationalization Decisions: Locating Production
Internationalization Decisions: Entering a Foreign Market
Multinational Strategies: Global Integration versus
National Differentiation
Implementing International Strategy: Organizing the
Multinational Corporation
252
252
256
263
266
266
267
269
270
271
273
276
278
281
287
xii CONTENTS
Summary
Self-Study Questions
Notes
12 Diversification Strategy
Introduction and Objectives
Motives for Diversification
Competitive Advantage from Diversification
Diversification and Performance
The Meaning of Relatedness in Diversification
Summary
Self-Study Questions
Notes
293
294
295
297
298
299
303
307
309
311
312
312
13 Implementing Corporate Strategy: Managing the Multibusiness
Firm
315
Introduction and Objectives
The Role of Corporate Management
Managing the Corporate Portfolio
Managing Linkages Across Businesses
Managing Individual Businesses
Managing Change in the Multibusiness Corporation
Governance of Multibusiness Corporations
Summary
Self-Study Questions
Notes
14 External Growth Strategies: Mergers, Acquisitions,
and Alliances
Introduction and Objectives
Mergers and Acquisitions
Strategic Alliances
Summary
Self-Study Questions
Notes
15 Current Trends in ­Strategic Management
Introduction
The New Environment of Business
New Directions in Strategic Thinking
Redesigning Organizations
The Changing Role of Managers
Summary
Notes
316
316
317
319
323
329
333
337
338
338
340
341
342
351
357
357
358
360
361
361
365
369
371
372
373
CONTENTS   xiii
CASES TO ACCOMPANY CONTEMPORARY STRATEGY
ANALYSIS, TENTH EDITION
1
Tough Mudder Inc.: Building Leadership in Mud Runs
375
2
Kering SA: Probing the Performance Gap with LVMH
384
3
Pot of Gold? The US Legal Marijuana Industry
393
4
The US Airline Industry in 2018
403
5
The Lithium-Ion Battery Industry
415
6
Walmart Inc. in 2018: The World’s Biggest Retailer Faces
New Challenges
428
7
Harley-Davidson, Inc. in 2018
442
8
BP: Organizational Structure and Management Systems
455
9
Starbucks Corporation, March 2018
462
10 Eastman Kodak’s Quest for a Digital Future
475
11 The New York Times: Adapting to the Digital Revolution
492
12 Tesla: Disrupting the Auto Industry
503
13 Video Game Console Industry in 2018
515
14 Eni SpA: The Corporate Strategy of an International
Energy Major
527
15 Zara: Super-Fast Fashion
546
16 Manchester City: Building a Multinational Soccer Enterprise
554
17 Haier Group: Internationalization Strategy
566
18 The Virgin Group in 2018
577
19 Google Is Now Alphabet—But What’s the Corporate Strategy?
587
20 Restructuring General Electric
600
21 Walt Disney, 21st Century Fox, and the Challenge of New Media 617
22 W. L. Gore & Associates: Rethinking Management
629
Glossary
Index
637
643
AUTHOR BIOGRAPHY
Robert M. Grant is Professor of Strategic Management at Bocconi University, Milan,
Italy and a Visiting Professor at Cass Business School, London. He was born in Bristol,
England and has taught at Georgetown University, London Business School, University of British Columbia, California Polytechnic, UCLA, Insead, and University of South
Africa. His business experience includes making tires (Firestone) and meat pies (Kraft
Foods) and strategy consulting at American Express, Eni, BP, and other companies.
PREFACE T O
TENTH EDITION
Contemporary Strategy Analysis equips managers and students of management with
the concepts and frameworks needed to make better strategic decisions. My goal is
a strategy text that reflects the dynamism and intellectual rigor of this ­fast-developing
field of management and takes account of the strategy issues that companies face today.
Contemporary Strategy Analysis endeavors to be both rigorous and relevant. While
embodying the latest thinking in the strategy field, it aims to be accessible to students
from different backgrounds and with varying levels of experience. I achieve this accessibility by combining clarity of exposition, concentration on the fundamentals of value
creation, and an emphasis on practicality.
This tenth edition maintains the book’s focus on the essential tasks of strategy: identifying the sources of superior business performance and formulating and implementing a strategy that exploits these sources of superior performance. At the same time,
the content of the book has been revised to reflect recent developments in the business
environment and in strategy research.
Distinctive features of the tenth edition include:
●●
●●
●●
●●
More explicit guidance on how to apply the tools of strategy to analyze strategic
situations and develop strategy recommendations. See, in particular: “Applying
Strategy Analysis” in Chapter 1, “Putting Performance Analysis into Practice”
in Chapter 2, “Using Industry Analysis to Develop Strategy” in Chapter 3, and
“Developing Strategy Implications” [from the analysis of resources and capabilities] in Chapter 5.
Increased emphasis on strategy making under conditions of technological
change—especially in digital markets where strategy analysis must take account
of complements, network externalities, platform-based competition, and the
application of innovative business models to complex business ecosystems (see
Chapters 4, 8, and 9).
Integration of stakeholder interests and corporate social responsibility within a
view of the firm as an institution for creating value (Chapter 2).
An updated approach to strategy implementation. While maintaining an
integrated approach to strategy formulation and strategy implementation,
­Chapters 6, 8, and 13 offers a systematic approach to strategy execution that
the role of organizational capabilities and capability development in guiding resource allocation, and the design of organizational structures and
management systems.
My thanks to my editorial and production team at Wiley, especially to Lise Johnson,
Judy Howarth, and S. Indirakumari; and to Mary Fogarty and Nitish Mohan for their
xvi PREFACE TO TENTH EDITION
assistance. This tenth edition of Contemporary Strategy Analysis has benefitted hugely
from feedback and suggestions from users—both instructors and students. I thank you
and look forward to continuing my engagement with you. Please feel free to contact me at
grant@unibocconi.com.
Robert M. Grant
I
INTRODUCTION
1 The Concept of Strategy
1
The Concept of Strategy
Strategy is the great work of the organization. In situations of life or death, it is the Tao
of survival or extinction. Its study cannot be neglected.
—SUN TZU, THE ART OF WAR
To shoot a great score you need a clever strategy.
—RORY MCILROY, GOLF MONTHLY, MAY 19, 2011
Everybody has a plan until they get punched in the mouth.
—MIKE TYSON, FORMER WORLD HEAVYWEIGHT BOXING CHAMPION
OUTLINE
◆◆
Introduction and Objectives
●●
Corporate and Business Strategy
◆◆
The Role of Strategy in Success
●●
Describing Strategy
◆◆
The Basic Framework for Strategy Analysis
●●
◆◆
◆◆
◆◆
Strategic Fit
A Brief History of Business Strategy
●●
Origins and Military Antecedents
●●
From Corporate Planning to Strategic Management
Strategy Today
How Is Strategy Made? The Strategy Process
●●
Design versus Emergence
●●
Applying Strategy Analysis
◆◆
Strategic Management of Not-For-Profit
­Organizations
◆◆
Summary
What Is Strategy?
◆◆
●●
Self-Study Questions
●●
Why Do Firms Need Strategy?
◆◆
Notes
●●
Where Do We Find Strategy?
4 PART I INTRODUCTION
Introduction and Objectives
Strategy is about achieving success. This chapter explains what strategy is and why it is important to
success, for both organizations and individuals. We will distinguish strategy from planning. Strategy is
not a detailed plan or program of instructions; it is a unifying theme that gives coherence and direction
to the actions and decisions of an individual or an organization.
The principal task of this chapter will be to introduce the basic framework for strategy analysis that
underlies this book. This framework comprises two components of strategy analysis: analysis of the
external environment of the firm (mainly industry analysis) and analysis of the internal environment
(primarily analysis of the firm’s resources and capabilities). We shall then examine what strategy is, how it
has developed over time, how to describe the strategy of a business enterprise, and how organizations
go about making strategy.
By the time you have completed this chapter, you will be able to:
◆◆
Appreciate the contribution that strategy can make to successful performance and recognize the essential components of an effective strategy.
◆◆
Comprehend the basic framework of strategy analysis that underlies this book.
◆◆
Recognize how strategic management has evolved over the past 60 years.
◆◆
Identify and describe the strategy of a business enterprise.
◆◆
Understand how strategy is made within organizations.
◆◆
Recognize the distinctive features of strategic management among not-for-profit organizations.
Since the purpose of strategy is to help us to win, we start by looking at the role of strategy in success.
The Role of Strategy in Success
Strategy Capsules 1.1 and 1.2 describe the careers of two individuals, Queen Elizabeth
II and Lady Gaga, who have been outstandingly successful in leading their organizations. Although these two remarkable women operate within vastly different arenas,
can their success be attributed to any common factors?
For neither of them can success be attributed to overwhelmingly superior resources.
For all of Queen Elizabeth’s formal status as head of state, she has very little real power
and, in most respects, is a servant of the democratically elected British government.
Lady Gaga is clearly a creative and capable entertainer, but few would claim that
she entered the music business with outstanding talents as a vocalist, musician, or
songwriter.
CHAPTER 1 The Concept of Strategy   5
Nor can their success be attributed either exclusively or primarily to luck. Both have
experienced difficulties and setbacks at different stages of their careers. Central to their
success, however, has been their ability to respond to events—whether positive or negative—with flexibility and clarity of direction.
My contention is that, common to both the 60-year successful reign of Queen Elizabeth II and the short but stellar career of Lady Gaga, is the presence of a soundly formulated and effectively implemented strategy. While these strategies did not exist as
explicit plans, for both Queen Elizabeth and Lady Gaga we can discern a consistency
of direction based upon clear goals and an ability to bend circumstances toward their
desired outcomes.
Elizabeth Windsor’s strategy as queen of the UK …
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