Expert Answer:Management 1-2 page short essay

Answer & Explanation:Read the book chapter 5-8 and other sources to answer this following questions: (Need citations for both book and sources)How can new ventures successfully deploy cost-leadership strategies given that they are not likely to be in a position to take advantage of economies of scale, or have the capital to increase scale economies, or have the knowledge gained from experience to make cost-saving improvements?
strategic_management_creating_competitive_advantages_9th_edition.pdf

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STRATEGIC MANAGEMENT: CREATING COMPETITIVE ADVANTAGES, NINTH EDITION
Published by McGraw-Hill Education, 2 Penn Plaza, New York, NY 10121. Copyright © 2019 by McGraw-Hill Education. All rights reserved. Printed in
the United States of America. Previous editions © 2016, 2014, and 2012. No part of this publication may be reproduced or distributed in any form or by
any means, or stored in a database or retrieval system, without the prior written consent of McGraw-Hill Education, including, but not limited to, in any
network or other electronic storage or transmission, or broadcast for distance learning.
Some ancillaries, including electronic and print components, may not be available to customers outside the United States.
This book is printed on acid-free paper.
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ISBN 978-1-259-90045-7 (bound edition)
MHID 1-259-90045-2 (bound edition)
ISBN 978-1-259-90052-5 (loose-leaf edition)
MHID 1-259-90052-5 (loose-leaf edition)
ISBN 978-1-259-90049-5 (instructor’s edition)
MHID 1-259-90049-5 (instructor’s edition)
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All credits appearing on page or at the end of the book are considered to be an extension of the copyright page.
Library of Congress Cataloging-in-Publication Data
Names: Dess, Gregory G., author. | McNamara, Gerry, author. | Eisner, Alan B., author.
Title: Strategic management : creating competitive advantages / Gregory G. Dess, University of Texas at Dallas, Gerry McNamara, Michigan State
University, Alan B. Eisner, Pace University.
Description: Ninth edition. | New York, NY : McGraw-Hill Education, [2019]
Identifiers: LCCN 2017052283 | ISBN 9781259900457 (alk. paper)
Subjects: LCSH: Strategic planning.
Classification: LCC HD30.28 .D4743 2019 | DDC 658.4/012—dc23 LC record available at https://lccn.loc.gov/2017052283
The Internet addresses listed in the text were accurate at the time of publication. The inclusion of a website does not indicate an endorsement by the
authors or McGraw-Hill Education, and McGraw-Hill Education does not guarantee the accuracy of the information presented at these sites.
mheducation.com/highered
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DEDICATION
dedication
To my family, Margie and Taylor and my parents, the late Bill and Mary Dess; and Michael Wood
To my first two academic mentors—Charles Burden and Les Rue (of Georgia State University)
–Greg
To my wonderful wife, Gaelen; my children, Megan and AJ; and my parents, Gene and Jane
–Gerry
To my family, Helaine, Rachel, and Jacob
–Alan
To my family, Hannah, Paul and Stephen; and my parents, Kenny and Inkyung.
–Sean
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ABOUT THE AUTHORS
about the
authors
Photo provided by the author
Gregory G. Dess
is the Andrew R. Cecil Endowed Chair in Management at the University of Texas at Dallas. His primary research interests are in
strategic management, organization-environment relationships, and knowledge management. He has published numerous articles on
these subjects in both academic and practitioner-oriented journals. He also serves on the editorial boards of a wide range of practitioneroriented and academic journals. In August 2000, he was inducted into the Academy of Management Journal’s Hall of Fame as one of its
charter members. Professor Dess has conducted executive programs in the United States, Europe, Africa, Hong Kong, and Australia.
During 1994 he was a Fulbright Scholar in Oporto, Portugal. In 2009, he received an honorary doctorate from the University of Bern
(Switzerland). He received his PhD in Business Administration from the University of Washington (Seattle) and a BIE degree from
Georgia Tech.
© He Gao
Gerry McNamara
is the Eli Broad Professor of Management at Michigan State University. His research draws on cognitive and behavioral theories to
explain strategic phenomena, including strategic decision making, mergers and acquisitions, and environmental assessments. His
research has been published in the Academy of Management Journal, the Strategic Management Journal, Organization Science,
Organizational Behavior and Human Decision Processes, the Journal of Applied Psychology, the Journal of Management, and the
Journal of International Business Studies. Gerry’s research has also been abstracted in the Wall Street Journal, Harvard Business
Review, New York Times, Bloomberg Businessweek, the Economist, and Financial Week. He serves as an Associate Editor for the
Strategic Management Journal and previously served as an Associate Editor for the Academy of Management Journal. He received his
PhD from the University of Minnesota.
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© Alan B. Eisner
Alan B. Eisner
is Professor of Management and Department Chair, Management and Management Science Department, at the Lubin School of
Business, Pace University. He received his PhD in management from the Stern School of Business, New York University. His primary
research interests are in strategic management, technology management, organizational learning, and managerial decision making. He
has published research articles and cases in journals such as Advances in Strategic Management, International Journal of Electronic
Commerce, International Journal of Technology Management, American Business Review, Journal of Behavioral and Applied
Management, and Journal of the International Academy for Case Studies. He is the former Associate Editor of the Case Association’s
peer-reviewed journal, The CASE Journal.
© Seung-Hyun Lee
Seung-Hyun Lee
is a Professor of strategic management and international business and the Area Coordinator of the Organization, Strategy, and
International Management area at the Jindal School of Business, University of Texas at Dallas. His primary research interests lie on the
intersection between strategic management and international business spanning from foreign direct investment to issues of microfinance
and corruption. He has published in numerous journals including Academy of Management Review, Journal of Business Ethics, Journal
of International Business Studies, Journal of Business Venturing, and Strategic Management Journal. He received his MBA and PhD
from the Ohio State University.
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PREFACE
preface
Welcome to the Ninth Edition of Strategic Management: Creating Competitive
Advantages! As noted on the cover, we are happy to introduce Seung-Hyun Lee to the author team. Greg has known Seung
since we both joined the faculty at the University of Texas at Dallas in 2002. Seung has developed a very distinguished publication
record in both strategic management and international business/international management and he has made many important
contributions in these areas in the present edition. In particular, his international expertise has been particularly valuable in further
“globalizing” our book.
We appreciate the constructive and positive feedback that we have received on our work. Here’s some of the encouraging feedback
we have received from our reviewers:
The Dess book comprehensively covers the fundamentals of strategy and supports concepts with research and managerial insights.
Joshua J. Daspit, Mississippi State University
Very engaging. Students will want to read it and find it hard to put down.
Amy Grescock, University of Michigan, Flint
Very easy for students to understand. Great use of business examples throughout the text.
Debbie Gilliard, Metropolitan State University, Denver
I use Strategic Management in a capstone course required of all business majors, and students appreciate the book because it synergizes all their
business education into a meaningful and understandable whole. My students enjoy the book’s readability and tight organization, as well as the
contemporary examples, case studies, discussion questions, and exercises.
William Sannwald, San Diego State University
The Dess book overcomes many of the limitations of the last book I used in many ways: (a) presents content in a very interesting and engrossing
manner without compromising the depth and comprehensiveness, (b) inclusion of timely and interesting illustrative examples, and (c) EOC
exercises do an excellent job of complementing the chapter content.
Sucheta Nadkami, University of Cambridge
The content is current and my students would find the real-world examples to be extremely interesting. My colleagues would want to know about
it and I would make extensive use of the following features: “Learning from Mistakes,” “Strategy Spotlights,” and “Issues for Debate.” I
especially like the “Reflecting on Career Implications” feature. Bottom line: the authors do a great job of explaining complex material and at the
same time their use of up-to-date examples promotes learning.
Jeffrey Richard Nystrom, University of Colorado at Denver
We always strive to improve our work and we are most appreciative of the extensive and thoughtful feedback that many strategy
professionals have graciously given us. We endeavored to incorporate their ideas into the Ninth Edition—and we acknowledge them by
name later in the Preface.
We believe we have made valuable improvements throughout our many revised editions of Strategic Management. At the same time,
we strive to be consistent and “true” to our original overriding objective: a book that satisfies three R’s—rigor, relevance, and readable.
And we are pleased that we have received feedback (such as the comments on the previous page) that is consistent with what we are
trying to accomplish.
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What are some of the features in Strategic Management that reinforce the 3 R’s? First, we build in rigor by drawing on the latest
research by management scholars and insights from management consultants to offer a current a current and comprehensive view of
strategic issues. We reinforce this rigor with our “Issues for Debate” and “Reflecting on Career Implications. . .” that require students to
develop insights on how to address complex issues and understand how strategy concepts can enhance their career success. Second, to
enhance relevance, we provide numerous examples from management practice in the text and “Strategy Spotlights” (sidebars). We also
increase relevance by relating course topic and examples to current business and societal themes, including environmental sustainability,
ethics, globalization, entrepreneurship, and data analytics. Third, we stress readability with an engaging writing style with minimal
jargon to ensure an effective learning experience. This is most clearly evident in the conversational presentations of chapter opening
“Learning from Mistakes” and chapter ending “Issues for Debate.”
Unlike other strategy texts, we provide three separate chapters that address timely topics about which business students should have
a solid understanding. These are the role of intellectual assets in value creation (Chapter 4), entrepreneurial strategy and competitive
dynamics (Chapter 8), and fostering entrepreneurship in established organizations (Chapter 12). We also provide an excellent and
thorough chapter on how to analyze strategic management cases.
In developing Strategic Management: Creating Competitive Advantages, we certainly didn’t forget the instructors. As we all know,
you have a most challenging (but rewarding) job. We did our best to help you. We provide a variety of supplementary materials that
should help you in class preparation and delivery. For example, our chapter notes do not simply summarize the material in the text.
Rather (and consistent with the concept of strategy), we ask ourselves: “How can we add value?” Thus, for each chapter, we provide
numerous questions to pose to help guide class discussion, at least 12 boxed examples to supplement chapter material, and three detailed
“teaching tips” to further engage students. For example, we provide several useful insights on strategic leadership from one of Greg’s
colleagues, Charles Hazzard (formerly Executive Vice President, Occidental Chemical). Also, we completed the chapter notes—along
with the entire test bank—ourselves. That is, unlike many of our rivals, we didn’t simply farm the work out to others. Instead, we felt
that such efforts help to enhance quality and consistency—as well as demonstrate our personal commitment to provide a top-quality
total package to strategy instructors. With the Ninth Edition, we also benefited from valued input by our strategy colleagues to further
improve our work.
Let’s now address some of the key substantive changes in the Ninth Edition. Then we will cover some of the major features that we
have had in previous editions.
WHAT’S NEW? HIGHLIGHTS OF THE NINTH EDITION
We have endeavored to add new material to the chapters that reflects the feedback we have received from our reviewers as well as the
challenges today’s managers face. Thus, we all invested an extensive amount of time carefully reviewing a wide variety of books,
academic and practitioner journals, and the business press.
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We also worked hard to develop more concise and tightly written chapters. Based on feedback from some of the reviewers, we have
tightened our writing style, tried to eliminate redundant examples, and focused more directly on what we feel is the most important
content in each chapter for our audience. The overall result is that we were able to update our material, add valuable new content, and—
at the same time—shorten the length of the chapters.
Here are some of the major changes and improvements in the Ninth Edition:
Big Data/Data Analysis. A central theme of the Ninth Edition, it has become a leading and highly visible component of a broader
technological phenomena—the emergence of digital technology. Such initiatives have the potential to enable firms to better
customize their product and service offerings to customers while more efficiently and fully using the resources of the company.
Through the text, we provide examples from a wide range of industries and government. This includes discussions of how Coca
Cola uses data analytics to produce consistent orange juice, IBM’s leveraging of big data to become a healthcare solution firm,
Caterpillar’s use of data analytics to improve machine reliability and to identify needed service before major machine failures, and
Digital Reasoning’s efforts to use data analytics to enhance the ability of firms to control employees and avoid illegal and
unethical behavior.
Greater coverage of international business/international management (IB/IM from new co-author). As we noted at the
beginning of the Preface, we have invited Seung-Hyun Lee, an outstanding IB/IM scholar, to join the author team and we are very
pleased that he has accepted! Throughout the book we have included many concepts and examples of IB/IM that reflects the
growing role of international operations for a wide range of industries and firms. We discuss how differences in national culture
impact the negotiation of contracts and whether or not to adapt human resource practices when organizations cross national
boundaries. We also include a discussion of how corporate governance practices differ across countries and discuss in depth how
Japan is striving to develop balanced governance practices that incorporate elements of U.S. practices while retaining, at its core,
elements of traditional Japanese practices. Additionally, we discuss why conglomerate firms thrive in Asian markets even as this
form of organization has gone out of favor in the United States and Europe. Finally, we discuss research that suggests that firms in
transition economies can improve their innovative performance by focusing on learning across boundaries within the firm
compared to learning from outside partners.
“Executive Insights: The Strategic Management Process.” Here, we introduce a nationally recognized leader and explore
several key issues related to strategic management. The executive is William H. McRaven, a retired four-star admiral who leads
the nation’s second largest system of higher education. As chief executive officer of the UT System, he oversees 14 institutions
that educate 217,000 students and employ 20,000 faculty and more than 70,000 health care professionals, researchers, and staff.
He is perhaps best known for his involvement in Operation Neptune Spear, in which he commanded the U.S. Navy Special Forces
who located and killed al Qaeda leader Osama bin Laden. We are very grateful for his valuable contribution!
Half of the 12 opening “Learning from Mistakes” vignettes that lead off each chapter are totally new. Unique to this text,
they are all examples of what can go wrong, and they serve as an excellent vehicle for clarifying and reinforcing strategy concepts.
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After all, what can be learned if one simply admires perfection?
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Over half of our “Strategy Spotlights” (sidebar examples) are brand new, and many of the others have been thoroughly
updated. Although we have reduced the number of Spotlights from the previous edition to conserve space, we still have a total of
64—by far the most in the strategy market. We focus on bringing the most important strategy concepts to life in a concise and
highly readable manner. And we work hard to eliminate unnecessary detail that detracts from the main point we are trying to
make. Also, consistent with our previous edition, many of the Spotlights focus on two “hot” issues that are critical in leading
today’s organizations: ethics and environmental sustainability—as well as data analytics in this edition.
Key content changes for the chapters include:
Chapter 1 addresses three challenges for executives who are often faced with similar sets of opposing goals which can
polarize their organizations. These challenges, or paradoxes, are called (1) the innovation paradox, the tension between existing
products and new ones—stability and change; (2) the globalization paradox, the tension between global connectedness and local
needs; and, (3) the obligation paradox, the tension between maximizing shareholder returns and creating benefits for a wide range
of stakeholders—employees, customers, society, etc. We also discuss three theaters of practice that managers need to recognize in
order to optimize the positive impact of the corporate social responsibility (CSR) initiatives. These are (1) Focusing on
philanthropy, (2) Improving operational effectiveness, and (3) Transforming the business model.
Chapter 2 introduces the concept of big data/data analytics—a technology that affects multiple segments of the general
environment. A highly visible component of the digital economy, such technologies are altering the way business is conducted in
a wide variety of sectors—government, industry, and commerce. We provide a detailed example of how it has been used to
monitor the expenditures of federal, state, and local governments.
Chapter 3 includes a discussion on program hiring to build human capital. With program hiring, firms offer employment to
promising graduates without knowing which specific job the employee will fill. Firms employing this tactic believe it allows them
to meet changing market conditions by hiring flexible employees who desire a dynamic setting. We also include a discussion of
how Coca Cola is leveraging data analytics to produce orange juice that is consistent over time and can be tailored to meet local
market tastes.
Chapter 4 discusses research that has found that millennials have a different definition of diversity and inclusion than
prior generations. That is, …
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