• Document: Strategic Management
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ND • HO LA T • I RE SK ISSON HIT Concepts Strategic Management Competitiveness & Globalization 9th Edition Michael A. Hitt Texas A&M University R. Duane Ireland Texas A&M University Robert E. Hoskisson Rice University Strategic Management: Competitiveness © 2011, 2009 South-Western, a Part of Cengage Learning and Globalization: Concepts, Ninth Edition ALL RIGHTS RESERVED. No part of this work covered by the copyright Michael A. Hitt, Duane Ireland, and herein may be reproduced, transmitted, stored or used in any form Robert E. Hoskisson or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web VP/Editorial Director: distribution, information networks, or information storage and retrieval Jack W. Calhoun systems, except as permitted under Section 107 or 108 of the 1976 Editor-in-Chief: United States Copyright Act, without the prior written permission of the Melissa Acuna publisher. Senior Acquisitions Editor: Michele Rhoades Director of Development: For product information and technology assistance, contact us at John Abner Cengage Learning Customer & Sales Support, 1-800-354-9706 Senior Editorial Assistant: For permission to use material from this text or product, Ruth Belanger submit all requests online at www.cengage.com/permissions Marketing Manager: Further permissions questions can be emailed to Nathan Anderson permissionrequest@cengage.com Senior Marketing Communications Manager: Jim Overly ExamView® and ExamView Pro® are registered trademarks of Marketing Coordinator: FSCreations, Inc. Windows is a registered trademark of the Microsoft Suellen Ruttkay Corporation used herein under license. Macintosh and Power Macintosh are registered trademarks of Apple Computer, Inc. used herein under Content Project Manager: license. Jacquelyn K Featherly Media Editor: Concepts ISBN 13: 978-0-538-75309-8 Rob Ellington Concepts ISBN 10: 0-538-75309-9 Senior Manufacturing Coordinator: Sandee Milewski South-Western Cengage Learning 5191 Natorp Boulevard Production House/Compositor: Mason, OH 45040 Cadmus Communications USA Senior Art Director: Tippy McIntosh Cengage Learning products are represented in Canada Cover and Internal Designer: by Nelson Education, Ltd. Craig Ramsdell, Ramsdell Design Cover Image: For your course and learning solutions, visit www.cengage.com ©Media Bakery Purchase any of our products at your local college store or at our preferred online store www.ichapters.com Printed in Canada 1 2 3 4 5 6 7 13 12 11 10 09 To Ashlyn and Aubrey Your smiles are like sunshine—they brighten my day. —Michael A. Hitt To my entire family I love each of you dearly and remain so grateful for your incredibly strong support and encouragement over the years. Your words and deeds have indeed showed me how to “keep my good eye to the sun and my blind eye to the dark.” —R. Duane Ireland To my wonderful grandchildren (Mara, Seth, Roselyn, Ian, Abby, Madeline, Joseph, and Nadine), who are absolutely amazing and light up my life. —Robert E. Hoskisson iii Brief Contents Preface xiv Part 1: Strategic Management Inputs 1 1. Strategic Management and Strategic Competitiveness, 2 2. The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis, 34 3. The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages, 70 Part 2: Strategic Actions: Strategy Formulation 97 4. Business-Level Strategy, 98 5. Competitive Rivalry and Competitive Dynamics, 128 6. Corporate-Level Strategy, 156 7. Merger and Acquisition Strategies

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