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第一章 内容归纳总结（阅读理解）
Firms use the strategic management proce to achieve strategic competitivene and
earn above-average returns.Strategic competitivene is achieved when a firm has developed and learned how to implement a value-creating strategy.Above-average returns(in exce of what investors expect to earn from other investments with similar levels of risk)provide the foundation a firm needs to simultaneously satisfy all of its stakeholders. The fundamental nature of competition is different in the current competitive landscape.As a result, those making strategic decisions must adopt a different mind-set, one that allows them to learn how to compete in highly turbulent and chaotic environments that are producing disorder and a great deal of uncertainty.The globalization of industries and their markets and rapid and significant technological changes are the two primary factors contributing to the turbulence of the competitive landscape. Firms use two major models to help them form their vision and miion and then choose
one or more strategies to use in pursuit of strategic competitivene and above-average returns.The core aumption of the I/O model is that the firm’s external environment has more of an influence on the choice of strategies than do the firm’s internal resources, capabilities, and core competencies.Thus, the I/O model is used to understand the effects an industry’s characteristics can have on a firm when deciding what strategy or strategies to use to compete against rivals.The logic supporting the I/O model suggests that above-average returns are earned when the firm locates an attractive industry or part of an industry and succefully implements the strategy dictated by that industry’s characteristics.The core aumption of the resource-based model is that the firm’s unique resources, capabilities, and core competencies have more of an influence on selecting and using strategies than does the firm’s external environment.Above-average returns are earned when the firm uses its valuable, rare, costly-to-imitate, and non-substitutable resources and capabilities to compete against its rivals in one or more industries.Evidence indicates that both models yield insights that are linked to succefully selecting and using strategies.Thus, firms want to use their unique resources, capabilities, and core competencies as the foundation for one or more strategies that will allow them to compete in industries they understand. Vision and miion are formed in light of the information and insights gained from
studying a firm’s internal and external environments.Vision is a picture of what the firm wants to be and, in broad terms, what it wants to ultimately achieve.Flowing from the vision, the miion specifies the busine or businees in which the firm intends to compete and the customers it intends to serve.Vision and miion provide direction to the firm and signal important descriptive information to stakeholders. Stakeholders are those who can affect, and are affected by, a firm’s strategic outcomes.Because a firm is dependent on the continuing support of stakeholders(shareholders, customers, suppliers, employees, host communities, etc.), they have enforceable claims on the company’s perfor-
mance.When earning above-average returns, a firm has
the resources it needs to at minimum simultaneously satisfy
the interests of all stakeholders.However, when earning only average returns, the firm
must carefully manage its stakeholders in order to retain their support.A firm earning below-average returns must minimize the amount of support it loses from unsatisfied stakeholders. Strategic leaders are people located in different parts of the firm using the strategic
management proce to help the firm reach its vision and miion.In the final analysis, though CEOs are responsible for making certain that their firms properly use the strategic management proce.Today, the effectivene of the strategic management proce is increased when it is grounded in ethical intentions and behaviors.The strategic leader’s work demands decision trade-offs, often among attractive alternatives.It is important for all strategic leaders and especially the CEO and other members of the top-management team to work hard, conduct thorough analyses of situations facing the firm, be brutally and consistently honest, and ask the right questions of the right people at the right time. Strategic leaders predict the potential outcomes of their strategic decisions.To do this,they must first calculate profit pools in their industry that are linked to value chain activities.Predicting the potential outcomes of their strategic decisions reduces the likelihood of the firm formulating and implementing ineffective strategies.第一章 作业题（从以上内容中查找并填写中文答案）
1.What are strategic competitivene, strategy, competitive advantage, above-average returns,and the strategic management proce?
2.What are the characteristics of the current competitive landscape? What two factors are the
primary drivers of this landscape?
3.According to the I/O model, what should a firm do to earn above-average returns?
4.What does the resource-based model suggest a firm should do to earn above-average returns?
5.What are vision and miion? What is their value for the strategic management proce?
6.What are stakeholders? How do the three primary stakeholder groups influence
organizations?
7.How would you describe the work of strategic leaders?
8.What are the elements of the strategic management proce? How are they interrelated?
第二章的内容总结和作业题在英文书的62页。大家对照看了内容总结后，写作业。（或者请学习委员拷贝出内容总结 summary，）
The firm’s external environment is challenging and complex.Because of the external
environment’s effect on performance, the firm must develop the skills required to identify opportunities and threats existing in that environment. The external environment has three major parts:(1)the general environment(elements in the
broader society that affect industries and their firms),(2)the industry environment(factors that influence a firm, its competitive actions and responses, and the industry’s profit potential), and(3)the competitor environment(in which the firm analyzes each major competitor’s future objectives, current strategies, aumptions, and capabilities). The external environmental analysis proce has four steps: scanning, monitoring, forecasting,and aeing.Through environmental analyses, the firm identifies opportunities and threats. The general environment has seven segments: demographic, economic, political/legal,socio-cultural, technological, global, and physical.For each segment, the firm wants to determine the strategic relevance of environmental changes and trends. Compared with the general environment, the industry environment has a more direct effect
on the firm’s strategic actions.The five forces model of competition includes the threat of entry, the power of suppliers, the power of buyers, product substitutes, and the intensity of rivalry among competitors.By studying these forces, the firm finds a position in an industry where it can influence the forces in its favor or where it can buffer itself from the power of the forces in order to achieve strategic competitivene and earn above-average returns. Industries are populated with different strategic groups.A strategic group is a collection of
firms following similar strategies along similar dimensions.Competitive rivalry is greater within a strategic group than between strategic groups. Competitor analysis informs the firm about the future objectives, current strategies,aumptions, and capabilities of the companies with which it competes directly.A thorough analysis examines complementors that sustain a competitor’s strategy and major networks or alliances in which competitors participate.When analyzing competitors, the firm should also identify and carefully monitor major actions taken by firms with performance below the industry norm. Different techniques are used to create competitor intelligence: the set of data, information,and knowledge that allows the firm to better understand its competitors and thereby predict their likely strategic and tactical actions.Firms should use only legal and ethical practices to gather intelligence.The Internet enhances firms’ capabilities to gather insights about competitors and their strategic intentions.作业
1.Why is it important for a firm to study and understand the external environment?
2.What are the differences between the general environment and the industry environment?
Why are these differences important?
3.What is the external environmental analysis proce(four steps)? What does the firm
want to learn when using this proce?
4.What are the seven segments of the general environment? Explain the differences
among them.5.How do the five forces of competition in an industry affectits profit potential?
Explain.6.What is a strategic group? Of what value is knowledge of the firm’s strategic group in
formulating that firm’s strategy?
7.What is the importance of collecting and interpreting data and information about
competitors? What practices should a firm use to gather competitor intelligence and why?
