• 7.1: Planning and Strategy

      • 7.1.1: Case Study: Transforming the Textbook Industry

        • Strategizing URL

          Read the introduction and section 5.1, which presents a case study of an online publishing company that used the P-O-L-C framework to support the development of its business strategy and create a new way to access college textbooks. The ability to strategize is a skill that a manager must possess to be successful.

      • 7.1.2: Management Strategy Frameworks

        • Strategic Management in the P-O-L-C Framework URL

          Read this section, which discusses how to apply strategic management techniques within the P-O-L-C framework, emphasizes the inputs that affect the formulation of a strategy, and provides a framework for performing a SWOT analysis. Developed in the early 1970s, the SWOT analysis technique is an essential tool in the strategic planning process.

        • An Overview of Strategic Planning or "VMOSA" URL

          Read this article, which explains the strategic planning process. Pay special attention to why and when organizations should engage in strategic planning.

        • PESTLE and SWOT Analyses URL

          Read this article, which describes how to analyze an external environment and create a SWOT analysis.

        • Resource-Based View Page

          Read this article, which describes how to utilize an organization's valuable resources to create a long-term sustainable strategy.

        • The Knowledge-Based View of Strategy Formulation URL

          Read this article and consider the following questions: What is the knowledge-based view (KBV) of business strategy formulation? What three intangible resources serve as the foundation for developing an organizational strategy using the KBV? What is the most critical component in developing a competitive advantage strategy using the KBV? Why?

      • 7.1.3: Intended and Realized Strategies of Managers

        • How Do Strategies Emerge? URL

          Read this section, which focuses on the essence of how strategy is made. Keep in mind that there is a difference between what a manager plans to happen and what actually unfolds – identifying and analyzing intended versus realized strategies. A manager should know the best way to make a strategy.

      • 7.1.4: Managers Have To Make Choices

        • Strategy as Trade-Offs, Discipline, and Focus URL

          Read this section, which discusses different schools of thought regarding strategy, emphasizing strategic focus within an organization. Managers need to focus on a specific strategy for an organization to achieve any level of success. Still, they also need to be flexible to meet the ever-changing demands of a business. This section will help you identify the trade-offs associated with strategy and outline how to create a competitive advantage. Pay particular attention to this section's discussion of Michael Porter's generic strategies.

        • What Trade-Offs Are You Building into Your Strategy? URL

          Read this article, which encourages you to recognize the consequences of your strategic choices and how they impact your overall production and organization.

        • Porter's Competitive Strategies Page

          Read this article, which describes Michael Porter's three competitive strategies: cost leadership, differentiation, and market segmentation.