6 Conclusion

This chapter provides an overview of strategic management and strategy. Ideas about strategy span many centuries, and modern understanding of strategy borrows from ancient strategies as well as classic military strategies. You should now understand that there are numerous ways to conceptualize the idea of strategy, and that effective strategic management is needed to ensure the long-term success of firms. The study of strategic management provides tools to effectively manage organizations, but it also involves the art of knowing how and when to apply creative thinking. Knowledge of both the art and the science of strategic management is needed to help guide organizations as their strategies emerge and evolve over time. Such tools will also help you effectively chart a course for your career as well as to understand the effective strategic management of the organizations for which you will work.



  1. Think about the best and worst companies you know. What is extraordinary (or extraordinarily bad) about these firms? Are their strategies clear and focused or difficult to define?
  2. If you were to write a “key takeaway” section for this chapter, what would you include as the material you found most interesting?



Figure 1.1:
Smith College Hood by Clara S. (http://en.wikipedia.org/wiki/File:Smith_College_Hood.jpg) used under CC-BY license (http://creativecommons.org/licenses/by/3.0/deed.en) (first); A Fool and His Money by David Goehring (https://www.flickr.com/photos/carbonnyc/5747629074/sizes/n/) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/) (second); Apple TV 2nd Generation by Mike L (http://commons.wikimedia.org/wiki/File:Apple_TV_2nd_Generation.jpg) is in the Public Domain (third); Zehr’s Markets by JYolkowski (http://commons.wikimedia.org/wiki/File:Zehrsmarkets.jpg) used under CC-BY-SA license (http://creativecommons.org/licenses/by-sa/3.0/deed.en) (fourth); Books from Amazon by Aurelijus Valeiša (https://www.flickr.com/photos/aurelijus/2279398155/sizes/n/) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/) (fifth)

Figure 1.2:
BostonPizzaLondon by Raysonho @ Open Grid Scheduler / Grid Engine (http://commons.wikimedia.org/wiki/File:BostonPizzaLondon.JPG) used under CC-0 License (http://creativecommons.org/publicdomain/zero/1.0/deed.en)

Figure 1.3:
Hannibal’s Famous Crossing of the Alps from Wikipedia (http://en.wikipedia.org/wiki/File:Hannibal3.jpg) is in the Public Domain

Figure 1.4:
Clearance by Lindsey Turner (http://www.flickr.com/photos/theogeo/2148416495) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/)

Figure 1.5:
Woman applying make-up by Mark J Sebastian (http://upload.wikimedia.org/wikipedia/commons/5/59/Woman_applying_make-up.jpg) used under CC-BY-SA license (https://creativecommons.org/licenses/by-sa/2.0/) (first); Andre Ellington 2011 by Daniel Lin (http://upload.wikimedia.org/wikipedia/commons/3/30/Andre_Ellington_2011.jpg) used under CC-BY-SA license (https://creativecommons.org/licenses/by-sa/2.0/) (second); As seen on TV by Radiant chains (http://upload.wikimedia.org/wikipedia/commons/f/f6/As_seen_on_TV.svg) is in the Public Domain (third)

Figure 1.7:
Facebook Press Conference by Robert Scoble (http://www.flickr.com/photos/scobleizer/5179377698) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/)

Figure 1.8:
Ramese II Statue in Luxor Temple by Clarence (https://www.flickr.com/photos/bracketing_life/4541358613/) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/) (first); Samurai with sword by Britannica (http://upload.wikimedia.org/wikipedia/commons/7/7c/Samurai_with_sword.jpg) is in the Public Domain (second); Trojan horse Çanakkale by Ross Burgess (http://upload.wikimedia.org/wikipedia/commons/0/07/Trojan_horse_%C3%87anakkale.jpg) used under CC-BY-SA license (https://creativecommons.org/licenses/by-sa/2.0/) (third); Tewkesbury Medieval Festival 2008 – Hail Sir Knight by Andy Dolman (http://upload.wikimedia.org/wikipedia/commons/b/bd/Tewkesbury_Medieval_Festival_2008_-_Hail_Sir_Knight.jpg) used under CC-BY-SA license (https://creativecommons.org/licenses/by-sa/2.0/) (fourth)

Figure 1.9:
Macchiavelli from Wikipedia (http://upload.wikimedia.org/wikipedia/commons/e/ee/Macchiavelli01.jpg) is in the Public Domain (first); George Washington by Gilbert Stuart (http://upload.wikimedia.org/wikipedia/commons/7/71/George_Washington_by_Gilbert_Stuart%2C_1795-96.png) is in the Public Domain (second); Portrait of Napoleon in his study at the Tuileries by Jacques-Louis David (http://upload.wikimedia.org/wikipedia/commons/1/11/Napoleon_Bonaparte.jpg) is in the Public Domain (third); Major General George H. Thomas by dbking (http://upload.wikimedia.org/wikipedia/commons/d/d3/Major_General_George_H._Thomas_%2814132585%29.jpg) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/) (fourth); Mk XIX Supermarine Spitfire by David Merrett (https://www.flickr.com/photos/davehamster/6322785164/) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/), IS-2 tank Monument at WWII Memorial in Shatki by Bestalex (http://upload.wikimedia.org/wikipedia/commons/e/e8/IS-2_tank_Monument_at_WWII_Memorial_in_Shatki.JPG) used under CC-BY-SA license (https://creativecommons.org/licenses/by-sa/2.0/) (fifth)

Figure 1.10:
Ford Model T at the White House by Don O’Brien (http://www.flickr.com/photos/dok1/4547024596/) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/) (top left); Harvard by PDru2014 (http://www.flickr.com/photos/patriciadrury/3236680739/) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/) (top right); Frederick Winslow Taylor crop from Wikipedia (http://upload.wikimedia.org/wikipedia/commons/9/90/Frederick_Winslow_Taylor_crop.jpg) is in the Public Domain (top middle); Sam Walton 1936 by Grey Wanderer (http://upload.wikimedia.org/wikipedia/commons/b/b6/SamWalton-1936.jpg) is in the Public Domain (bottom middle); Amazon Kindle 3 by NotFromUtrecht (http://en.wikipedia.org/wiki/File:Amazon_Kindle_3.JPG) used under CC-BY-SA license (https://creativecommons.org/licenses/by-sa/2.0/) (bottom left); The Blue Marble by NASA (http://upload.wikimedia.org/wikipedia/commons/7/78/The_Blue_Marble.jpg) is in the Public Domain (bottom right)

Figure 1.12:
Chess in Dupont by dbking (http://upload.wikimedia.org/wikipedia/commons/4/46/Chess_in_Dupont.jpg) used under CC-BY license (https://creativecommons.org/licenses/by/2.0/)