BOOK REVIEW: “Essentials of Strategic Management” by J. David Hunger and Thomas L. Wheelen (2010)

Key words

Strategy, management, information systems, corporate culture, technology management

Summary

The book gives an excellent outline of some of the fundementals issues in strategic management. The book is short and generally to the point. It provides good data summaries and ideas that can be put into practice in the business world. It is also realatively easy to read. It deals quite heavily with corporate culture and has some useful ideas on the importance of technology management in strategy.

Interesting quotes from the book:

Strategic management is that set of managerial decisions and actions that determines the long-run performance of a corporation.

Beyond your borders: Overcoming cultural differences that so often cause conflict

According to Geert Hofstede “Culture is more often a source of conflict than of synergy. Cultural differences are a nuisance at best and often a disaster.”  Patrick Mazzariol, Vice President International Sales at Synchrony, Inc., USA, explains that an international learning strategy, language skills and embracing new cultures are the keys to overcoming this problem.

The Treaties of Rome which integrated six European countries and established the European Economic Community were signed in 1957. This act leads to the emergence of the European Union. Now, just over a few decades of worldwide economic advancement has led to a tremendous situation in which, globally, we are emerging into an International Economic Community.

Golden Balls-Up : Why hiding information can be a dangerous game

A recent international conference in higher education (NAFSA) gave a fascinating insight of the need to be totally open and honest when setting up collaborative projects. A couple of renowned business schools were attempting to create a club of fellow accredited schools.
One of these schools, following its own political agenda, had attempted to exclude all schools from its own country despite the fact that 10 business schools “qualified” for membership. Their plan so spectacularly backfired that you almost felt sorry for them. Almost.