Solution Manual For Fundamentals of Strategy, 5th edition Richard Whittington Patrick Regnér Dunca

Instructor’s Manual Fundamentals of Strategy Fifth edition

Richard Whittington Patrick Regnér Duncan Angwin Gerry Johnson Kevan Scholes For further instructor material please visit:

go.pearson.com/uk/he/resources ISBN: 978-1-292-35140-7  2021 Pearson Education Limited. All Rights Reserved.

Lecturers adopting the main text are permitted to download and photocopy the manual as required.

PEARSON EDUCATION LIMITED KAO Two KAO Park Harlow CM17 9NA United Kingdom Tel: +44 (0)1279 623623 Web: www.pearson.com/uk -----------------------------------------------Third edition published 2015 Fourth edition published 2018 This edition published 2021 © 2021 Pearson Education Limited. All Rights Reserved.

The rights of Richard Whittington, Patrick Regnér Duncan Angwin, Gerry Johnson and Kevan Scholes to be identified as authors of this work have been asserted by them in accordance with the Copyright, Designs and Patents Act 1988.

Pearson Education is not responsible for the content of third-party internet sites.

ISBN 978-1-292-35140-7 All rights reserved. Permission is hereby given for the material in this publication to be reproduced for OHP transparencies and student handouts, without express permission of the Publishers, for educational purposes only. In all other cases, no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without either the prior written permission of the Publishers or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, Barnard’s Inn, 86 Fetter Lane, London EC4A 1EN. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published, without the prior consent of the Publishers.

All trademarks used herein are the property of their respective owners. The use of any trademark in this text does not vest in the author or publisher any trademark ownership rights in such trademarks, nor does the use of such trademarks imply any affiliation with or endorsement of this book by such owners.

Pearson Education is not responsible for the content of third-party internet sites.

2 © 2021 Pearson Education Limited. All Rights Reserved.

Contents 1. Introduction

4

2. Using this manual

5

3. Planning your approach

5

4. Designing the teaching scheme

7

5. Fundamentals of strategy website

8

6. Workshops

9

Chapter 1

Introducing strategy

10

Chapter 2

Macro-environment analysis

16

Chapter 3

Industry and sector analysis

21

Chapter 4

Resources and capabilities analysis

31

Chapter 5

Stakeholders and culture

41

Chapter 6

Business strategy and models

46

Chapter 7

Corporate strategy

52

Chapter 8

Entrepreneurship and innovation

68

Chapter 9

Strategy in action

74

3 © 2021 Pearson Education Limited. All Rights Reserved.

1.

Introduction

The fifth edition of Fundamentals of Strategy concentrates on the fundamental issues and techniques of strategy. It is based on the twelfth edition of the market-leading Exploring Strategy and therefore includes the latest concepts and illustrations. It differs from earlier editions of Fundamentals in now having nine chapters rather than eight. This allows for more material on the crucial and popular topics of Entrepreneurship and Innovation. We have kept the overall format concise and suitable for shorter or less specialised courses.

Readers and instructors will benefit from the consistency between Exploring Strategy and Fundamentals of Strategy: concepts are defined in the same way, illustrations and end-of- chapter case examples are the same, and it is always possible for Fundamentals users to find more depth on particular issues in the parent book. Users of Fundamentals can also draw on material available from Exploring Strategy including: •

The accompanying website (http://go.pearson.com/uk/he/resources) that contains materials for students and instructors that are added to and updated on a regular basis

•

The MyStrategyExperience simulation

•

Video case studies at the end of chapters (available on http://go.pearson.com/uk/he/resources)

•

There are the following additional resources:

For students: •

Revision aids (flashcards, key concepts and glossary (six languages))

•

Audio summaries of chapters and important concepts

•

Multi-choice questions, work assignments and grade book

•

Help with case examples (weblinks and advice on analysing the cases).

For instructors: •

This Instructor’s Manual

•

PowerPoint slides

•

Details of workshops led by the authors which are held annually. These are practical days concerned with how teachers might gain most advantage from the book and associated materials. They also act as a forum in which to meet other strategy teachers

•

An occasional authors’ newsletter with updates and news relevant to both the book and teaching generally (contact richard.whittington@sbs.ox.ac.uk if you wish to be put on the mailing list)

4 © 2021 Pearson Education Limited. All Rights Reserved.

Whittington et al, Fundamentals of Strategy, 5e, Instructor’s Manual

2.

Using this manual

This manual is designed to assist in gaining maximum advantage from Fundamentals of Strategy and the associated teaching and learning materials. It should provide help with: •

planning a teaching approach to suit the type of participants, time available, etc.;

•

deciding on how to use the text, illustrations and case examples in a teaching scheme;

•

choosing additional material to include in a course;

•

using the Fundamentals of Strategy website http://go.pearson.com/uk/he/resources

The next two sections are intended to be of particular use to instructors who are relatively new to teaching strategy or are designing new courses. Experienced instructors may wish to pass over Sections 3 and 4.

3.

Planning your approach

This section provides some general guidance on how the design of a strategy course can be varied to meet the requirements of the participants and the practicalities of the situation. The factors listed below will also influence the way in which the text, readings, case examples and videos can be used to best advantage. Fundamentals of Strategy is designed to suit relatively short strategy courses focusing on concepts and analytical tools for strategy analysis and evaluation.

There is less emphasis on the process of strategy development and the practice of strategy than can be found in Exploring Strategy. The text, illustrations and case examples are concise and focused to enable instructors to design a course that is thorough enough to cover a wide range of strategy concepts but condensed enough to fit a one-semester programme (or similar).

3.1 Purpose of the course Strategy courses using Fundamentals of Strategy can be designed to meet many different needs.

At one extreme, the course may mainly be concerned with raising awareness of why organisations need to change and develop over time and some of the ways in which this occurs.

Alternatively, a course may be designed to improve the skills of participants in the formulation of strategy. Between these extremes are other purposes for strategy courses. For example, helping to break down the very narrow operational outlook of many managers, or integrating material from other parts of a business or management course. The following are some guiding points on how the use of text and cases might be adapted to these various purposes.

•

If awareness is the key purpose, the text can be used to provide a basic framework (say through a lecture series) and devote as much time as possible to illustrative work. The illustrations in the text should prove valuable and teachers should try to supplement these with their own topical material (media clippings, YouTube clips, material from company websites, etc.). The Fundamentals of Strategy website contains topical material on a chapterby-chapter basis (see below). Where participants have access to live organisations, use of 5 © 2021 Pearson Education Limited. All Rights Reserved.