Strategic Management: From Theory to Practice

by Allen C. Amason

Leadership, adaptability, value creation. These are the skills necessary for tomorrow’s managers. Allen Amason approaches the topic of strategic management with these traits in mind. Rather than simply teaching theory and research, he seeks to communicate to them the fundamental keys to how strategy works. This book is designed to help students think critically and understand fully how to strategically manage their future firms. In so doing, it will enable them to adapt and learn, even as their circumstances change; to apply sound logic and reasoning, even in new and unfamiliar settings. By conveying enduring and fundamental principles of economic and human behavior rather than simply reporting on the latest innovations, this book succeeds in preparing students to excel in the business environment over time, regardless of how it evolves.

320 pages, Paperback

First published November 15, 2010

Reviews

[Douglas · Rating 5 out of 5]

Amason and Ward have given us a helpful overview of strategic management focusing on important principles and definitions. More than that, their desire to create a book ON management rather than about it makes it a valuable, practical work. The frequent use of up-to-date examples, the inclusion of review questions, and the call for the reader to apply principles learned make this a work on theory AND practice. The chapter on megatrends was particularly helpful as organizations need to do better at preparing for future disruptions like we are seeing with COVID-19. I also appreciated some of the diagnostic and analytical tools like the 5-Forces model and McKinsey 7-S model, which I hope to apply in my own context.

Perhaps the best reminder, sprinkled throughout the book to keep it in front of the reader's eyes, is that change, disruption, and competition are inevitable. You can't get too comfortable, rest on your success, or ignore innovation just because things are going well. Nor can you simply copy what another firm does and hope it works. As Dr. Ward points out, "the key again is to create and combine sensitivity for change with the flexibility to adapt. And all that has to be done within an organization where the culture and strategy are focused outward, on the customer and the market and on the challenge of continuously creating value."

If you are looking to sharpen your skills or knowledge of business, leadership, investment, strategic planning, or anything else related to management, you need to read this book.