This open access book clarifies confusions of strategy that have existed for nearly 40 years through the core thoughts of three fundamental elements. Unlike the traditional definition of strategy as "a plan to achieve a long-term goal from overall considerations”in a linear view, this book defines strategy from non-linear viewpoint as it is in the real world. The art of a strategy lies not only in the determination of development goals, but also in the identification of development problems and putting forward overall guiding ideology of solving problems. Rich illustrations as well as numerous business and military cases are presented in helping readers to understand the fundamental elements of strategy.

The general scope of the book includes introductions to the three fundamental elements of strategy, three-sub decisions of a complete strategic decision, incomplete strategies, relationship between tactic and strategy, three elements of competitive and corporative strategies. There may be biases in company-level, real strategic decision-making which makes a complete strategy not necessarily a perfect one. The book introduces biases and reasons for the biases, helping industrial strategic decision-makers understand the importance of knowing the nature of the company, the industry and its environment. In addition, this book also presents principles and evaluation approaches of strategic decisions, explores the reasons for the excessive definitions of the strategy concept, and discusses directions of future’s research tasks.

The book will benefit business managers who are interested in knowing what a complete strategic decision is and how to avoid errors or biases in strategic decision-making. It also benefits students in business schools (especially in MBA/EMBA programs) who are (or will be) on executive positions. Academic researchers may find it is interesting to understand strategy from the view of the three elements. The new view provides a novel insight into strategy and promotes several research directions in the future. The three elements of strategy are also applicable to military strategies and readers who are interested in military and may find its value as well.

[Book Author: Xiu-bao Yu]

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Principles of Management is designed to meet the scope and sequence requirements of the introductory course on management. This is a traditional approach to management using the leading, planning, organizing, and controlling approach. Management is a broad business discipline, and the Principles of Management course covers many management areas such as human resource management and strategic management, as well as behavioral areas such as motivation. No one individual can be an expert in all areas of management, so an additional benefit of this text is that specialists in a variety of areas have authored individual chapters.  

Contents Page:

Preface

Chapter 1  Managing and Performing

• Introduction

• 1.1 What Do Managers Do?

• 1.2 The Roles Managers Play

• 1.3 Major Characteristics of the Manager's Job

• [...]

Chapter 2  Managerial Decision-Making

• Introduction

• 2.1 Overview of Managerial Decision-Making

• 2.2 How the Brain Processes Information to Make Decisions: Reflective and Reactive Systems

• 2.3 Programmed and Nonprogrammed Decisions

• 2.4 Barriers to Effective Decision-Making

• 2.5 Improving the Quality of Decision-Making

• 2.6 Group Decision-Making

• [...]

Chapter 3  The History of Management

• Introduction

• 3.1 The Early Origins of Management

• 3.2 The Italian Renaissance

• 3.3 The Industrial Revolution

• 3.4 Taylor-Made Management

• 3.5 Administrative and Bureaucratic Management

• 3.6 Human Relations Movement

• 3.7 Contingency and System Management

• [...]

Chapter 4  External and Internal Organizational Environments and Corporate Culture

• Introduction

• 4.1 The Organization's External Environment

• 4.2 External Environments and Industries

• 4.3 Organizational Designs and Structures

• 4.4 The Internal Organization and External Environments

• 4.5 Corporate Cultures

• 4.6 Organizing for Change in the 21st Century

• [...]

Chapter 5  Ethics, Corporate Responsibility, and Sustainability

• Introduction

• 5.1 Ethics and Business Ethics Defined

• 5.2 Dimensions of Ethics: The Individual Level

• 5.3 Ethical Principles and Responsible Decision-Making

• 5.4 Leadership: Ethics at the Organizational Level

• 5.5 Ethics, Corporate Culture, and Compliance

• 5.6 Corporate Social Responsibility (CSR)

• 5.7 Ethics around the Globe

• 5.8 Emerging Trends in Ethics, CSR, and Compliance

• [...]

Chapter 6  International Management

• Introduction

• 6.1 Importance of International Management

• 6.2 Hofstede's Cultural Framework

• 6.3 The GLOBE Framework

• 6.4 Cultural Stereotyping and Social Institutions

• 6.5 Cross-Cultural Assignments

• 6.6 Strategies for Expanding Globally

• 6.7 The Necessity of Global Markets

• [...]

Chapter 7  Entrepreneurship

• Introduction

• 7.1 Entrepreneurship

• 7.2 Characteristics of Successful Entrepreneurs

• 7.3 Small Business

• 7.4 Start Your Own Business

• 7.5 Managing a Small Business

• 7.6 The Large Impact of Small Business

• 7.7 The Small Business Administration

• 7.8 Trends in Entrepreneurship and Small-Business Ownership

• [...]

Chapter 8  Strategic Analysis: Understanding a Firm’s Competitive Environment

• Introduction

• 8.1 Gaining Advantages by Understanding the Competitive Environment

• 8.2 Using SWOT for Strategic Analysis

• 8.3 A Firm's External Macro Environment: PESTEL

• 8.4 A Firm's Micro Environment: Porter's Five Forces

• 8.5 The Internal Environment

• 8.6 Competition, Strategy, and Competitive Advantage

• 8.7 Strategic Positioning

• [...]

Chapter 9  The Strategic Management Process: Achieving and Sustaining Competitive Advantage

• Introduction

• 9.1 Strategic Management

• 9.2 Firm Vision and Mission

• 9.3 The Role of Strategic Analysis in Formulating a Strategy

• 9.4 Strategic Objectives and Levels of Strategy

• 9.5 Planning Firm Actions to Implement Strategies

• 9.6 Measuring and Evaluating Strategic Performance

• [...]

Chapter 10  Organizational Structure and Change

• Introduction

• 10.1 Organizational Structures and Design

• 10.2 Organizational Change

• 10.3 Managing Change

• [...]

Chapter 11  Human Resource Management

• Introduction

• 11.1 An Introduction to Human Resource Management

• 11.2 Human Resource Management and Compliance

• 11.3 Performance Management

• 11.4 Influencing Employee Performance and Motivation

• 11.5 Building an Organization for the Future

• 11.6 Talent Development and Succession Planning

• [...]

Chapter 12  Diversity in Organizations

• Introduction

• 12.1 An Introduction to Workplace Diversity

• 12.2 Diversity and the Workforce

• 12.3 Diversity and Its Impact on Companies

• 12.4 Challenges of Diversity

• 12.5 Key Diversity Theories

• 12.6 Benefits and Challenges of Workplace Diversity

• 12.7 Recommendations for Managing Diversity

• [...]

Chapter 13  Leadership

• Introduction

• 13.1 The Nature of Leadership

• 13.2 The Leadership Process

• 13.3 Leader Emergence

• 13.4 The Trait Approach to Leadership

• 13.5 Behavioral Approaches to Leadership

• 13.6 Situational (Contingency) Approaches to Leadership

• 13.7 Substitutes for and Neutralizers of Leadership

• 13.8 Transformational, Visionary, and Charismatic Leadership

• 13.9 Leadership Needs in the 21st Century

• [...]

Chapter 14  Work Motivation for Performance

• Introduction

• 14.1 Motivation: Direction and Intensity

• 14.2 Content Theories of Motivation

• 14.3 Process Theories of Motivation

• 14.4 Recent Research on Motivation Theories

• [...]

Chapter 15  Managing Teams

• Introduction

• 15.1 Teamwork in the Workplace

• 15.2 Team Development Over Time

• 15.3 Things to Consider When Managing Teams

• 15.4 Opportunities and Challenges to Team Building

• 15.5 Team Diversity

• 15.6 Multicultural Teams

• [...]

Chapter 16  Managerial Communication

• Introduction

• 16.1 The Process of Managerial Communication

• 16.2 Types of Communications in Organizations

• 16.3 Factors Affecting Communications and the Roles of Managers

• 16.4 Managerial Communication and Corporate Reputation

• 16.5 The Major Channels of Management Communication Are Talking, Listening, Reading, and Writing

• [...]

Chapter 17  Organizational Planning and Controlling

• Introduction

• 17.1 Is Planning Important

• 17.2 The Planning Process

• 17.3 Types of Plans

• 17.4 Goals or Outcome Statements

• 17.5 Formal Organizational Planning in Practice

• 17.6 Employees' Responses to Planning

• 17.7 Management by Objectives: A Planning and Control Technique

• 17.8 The Control- and Involvement-Oriented Approaches to Planning and Controlling

• [...]

Chapter 18  Management of Technology and Innovation

• Introduction

• 18.1 MTI—Its Importance Now and In the Future

• 18.2 Developing Technology and Innovation

• 18.3 External Sources of Technology and Innovation

• 18.4 Internal Sources of Technology and Innovation

• 18.5 Management Entrepreneurship Skills for Technology and Innovation

• 18.6 Skills Needed for MTI

• 18.7 Managing Now for Future Technology and Innovation

• [...]

References

Index

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Principles of Management teaches management principles to tomorrow’s business leaders by weaving three threads through every chapter: strategy, entrepreneurship and active leadership. 

Note: The textbook is adapted from a work produced and distributed under a Creative Commons license (CC BY-NC-SA) in 2010 by a publisher who has requested that they and the original author do not receive attribution. This adapted edition was produced by the University of Minnesota Libraries Publishing and later cloned by CUNY School of Professional Studies. This version may differ from the original.

Summary of Contents Page:

Chapter 1: Introduction to Principles of Management

Chapter 2: Personality, Attitudes, and Work Behaviors

Chapter 3: History, Globalization, and Values-Based Leadership

Chapter 4: Developing Mission, Vision, and Values

Chapter 5: Strategizing

Chapter 6: Goals and Objectives

Chapter 7: Organizational Structure and Change

Chapter 8: Organizational Culture

Chapter 9: Social Networks

Chapter 10: Leading People and Organizations

Chapter 11: Decision Making

Chapter 12: Communication in Organizations

Chapter 13: Managing Groups and Teams

Chapter 14: Motivating Employees

Chapter 15: The Essentials of Control

Chapter 16: Strategic Human Resource Management

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This open source textbook is derived from many sources, initially from the Principles of Management by Carpenter, Bauer, and Erdogan, but there is abundant new content as well. It is published under a Creative Commons license and as such there is no charge ever for this textbook.

The most important change from 1e is that static content was removed to make room for student-generated dynamic content. Throughout the book look for the names of contributing students in the red colored example boxes. As the term progresses, you will see new examples appear as fellow students research and summarize topics for current events, all are curated by the instructor. 

Summary of Contents Page:

Introduction

• Unit 1. Strategic Management Overview [incl. definitions]

• Unit 2. Corporate Governance

• Unit 3. The External Environment

• Unit 4. Internal Capability

• Unit 5. Business-level Strategy

• Unit 6. Formulating Strategy

• Unit 7. Corporate-level Strategy

• Unit 8. Analysis and Reporting

Index to Tools and Models Used in the Textbook

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Strategic Management (2020) is a 343-page open educational resource designed as an introduction to the key topics and themes of strategic management. The open textbook is intended for a senior capstone course in an undergraduate business program and suitable for a wide range of undergraduate business students including those majoring in marketing, management, business administration, accounting, finance, real estate, business information technology, and hospitality and tourism. The text presents examples of familiar companies and personalities to illustrate the different strategies used by today’s firms and how they go about implementing those strategies. It includes case studies, end of section key takeaways, exercises, and links to external videos, and an end-of-book glossary. The text is ideal for courses which focus on how organizations operate at the strategic level to be successful. Students will learn how to conduct case analyses, measure organizational performance, and conduct external and internal analyses.

Table of Contents

• Chapter 1: Mastering Strategy: Art and Science

• Chapter 2: Assessing Organizational Performance

• Chapter 3: Evaluating the External Environment

• Chapter 4: Evaluating the Internal Environment

• Chapter 5: Synthesis of Strategic Issues and Analysis

• Chapter 6: Selecting Business-Level Strategies

• Chapter 7: Innovation Strategies

• Chapter 8: Selecting Corporate-Level Strategies

• Chapter 9: Competing in International Markets

• Chapter 10: Executing Strategy through Organizational Design

• Chapter 11: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

About the Author / Editorial and Production Teams

Version Notes

Glossary

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