BK-CHE-GRIFFIN_12E-150034-FM.indd 4 08/10/15 4:16 PM (cid:13)(cid:96)(cid:136)(cid:204)(cid:105)(cid:96)(cid:202)(cid:220)(cid:136)(cid:204)(cid:133)(cid:202)(cid:204)(cid:133)(cid:105)(cid:202)(cid:96)(cid:105)(cid:147)(cid:156)(cid:202)(cid:219)(cid:105)(cid:192)(cid:195)(cid:136)(cid:156)(cid:152)(cid:202)(cid:156)(cid:118)(cid:202) (cid:22)(cid:152)(cid:118)(cid:136)(cid:221)(cid:202)(cid:42)(cid:192)(cid:156)(cid:202)(cid:42)(cid:12)(cid:19)(cid:202)(cid:13)(cid:96)(cid:136)(cid:204)(cid:156)(cid:192)(cid:202) (cid:47)(cid:156)(cid:202)(cid:192)(cid:105)(cid:147)(cid:156)(cid:219)(cid:105)(cid:202)(cid:204)(cid:133)(cid:136)(cid:195)(cid:202)(cid:152)(cid:156)(cid:204)(cid:136)(cid:86)(cid:105)(cid:93)(cid:202)(cid:219)(cid:136)(cid:195)(cid:136)(cid:204)(cid:92)(cid:202) (cid:220)(cid:220)(cid:220)(cid:176)(cid:136)(cid:86)(cid:105)(cid:152)(cid:136)(cid:176)(cid:86)(cid:156)(cid:147)(cid:201)(cid:213)(cid:152)(cid:143)(cid:156)(cid:86)(cid:142)(cid:176)(cid:133)(cid:204)(cid:147) TWELFTH EDITION MANAGEMENT RICKY W. GRIFFIN Texas A&M University Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States Copyright 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. 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BK-CHE-GRIFFIN_12E-150034-FM.indd 4 08/10/15 4:16 PM (cid:13)(cid:96)(cid:136)(cid:204)(cid:105)(cid:96)(cid:202)(cid:220)(cid:136)(cid:204)(cid:133)(cid:202)(cid:204)(cid:133)(cid:105)(cid:202)(cid:96)(cid:105)(cid:147)(cid:156)(cid:202)(cid:219)(cid:105)(cid:192)(cid:195)(cid:136)(cid:156)(cid:152)(cid:202)(cid:156)(cid:118)(cid:202) (cid:22)(cid:152)(cid:118)(cid:136)(cid:221)(cid:202)(cid:42)(cid:192)(cid:156)(cid:202)(cid:42)(cid:12)(cid:19)(cid:202)(cid:13)(cid:96)(cid:136)(cid:204)(cid:156)(cid:192)(cid:202) (cid:47)(cid:156)(cid:202)(cid:192)(cid:105)(cid:147)(cid:156)(cid:219)(cid:105)(cid:202)(cid:204)(cid:133)(cid:136)(cid:195)(cid:202)(cid:152)(cid:156)(cid:204)(cid:136)(cid:86)(cid:105)(cid:93)(cid:202)(cid:219)(cid:136)(cid:195)(cid:136)(cid:204)(cid:92)(cid:202) (cid:220)(cid:220)(cid:220)(cid:176)(cid:136)(cid:86)(cid:105)(cid:152)(cid:136)(cid:176)(cid:86)(cid:156)(cid:147)(cid:201)(cid:213)(cid:152)(cid:143)(cid:156)(cid:86)(cid:142)(cid:176)(cid:133)(cid:204)(cid:147) Management, Twelfth Edition © 2017, 2013 Cengage Learning Ricky W. Griffin WCN: 02-200-202 Vice President, General Manager, Social ALL RIGHTS RESERVED. No part of this work covered by the copyright herein Science & Qualitative Business: Erin Joyner may be reproduced, transmitted, stored, or used in any form or by any means Product Director: Jason Fremder graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web distribution, information networks, Senior Product Manager: Scott Person or information storage and retrieval systems, except as permitted under Section Senior Content Developer: Julia Chase 107 or 108 of the 1976 United States Copyright Act, without the prior written Product Assistant: Brian Pierce permission of the publisher. 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Find your local representative at www.cengage.com. Cengage Learning products are represented in Canada by Nelson Education, Ltd. To learn more about Cengage Learning Solutions, visit www.cengage.com Purchase any of our products at your local college store or at our preferred online store www.cengagebrain.com Printed in the United States of America Print Number: 01 Print Year: 2015 Copyright 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. BK-CHE-GRIFFIN_12E-150034-FM.indd 2 08/10/15 4:16 PM (cid:13)(cid:13)(cid:96)(cid:96)(cid:136)(cid:136)(cid:204)(cid:204)(cid:105)(cid:105)(cid:96)(cid:96)(cid:202)(cid:202)(cid:220)(cid:220)(cid:136)(cid:136)(cid:204)(cid:204)(cid:133)(cid:133)(cid:202)(cid:202)(cid:204)(cid:204)(cid:133)(cid:133)(cid:105)(cid:105)(cid:202)(cid:202)(cid:96)(cid:96)(cid:105)(cid:105)(cid:147)(cid:147)(cid:156)(cid:156)(cid:202)(cid:202)(cid:219)(cid:219)(cid:105)(cid:105)(cid:192)(cid:192)(cid:195)(cid:195)(cid:136)(cid:136)(cid:156)(cid:156)(cid:152)(cid:152)(cid:202)(cid:202)(cid:156)(cid:156)(cid:118)(cid:118)(cid:202)(cid:202) (cid:22)(cid:22)(cid:152)(cid:152)(cid:118)(cid:118)(cid:136)(cid:136)(cid:221)(cid:221)(cid:202)(cid:202)(cid:42)(cid:42)(cid:192)(cid:192)(cid:156)(cid:156)(cid:202)(cid:202)(cid:42)(cid:42)(cid:12)(cid:12)(cid:19)(cid:19)(cid:202)(cid:202)(cid:13)(cid:13)(cid:96)(cid:96)(cid:136)(cid:136)(cid:204)(cid:204)(cid:156)(cid:156)(cid:192)(cid:192)(cid:202)(cid:202) (cid:47)(cid:47)(cid:156)(cid:156)(cid:202)(cid:202)(cid:192)(cid:192)(cid:105)(cid:105)(cid:147)(cid:147)(cid:156)(cid:156)(cid:219)(cid:219)(cid:105)(cid:105)(cid:202)(cid:202)(cid:204)(cid:204)(cid:133)(cid:133)(cid:136)(cid:136)(cid:195)(cid:195)(cid:202)(cid:202)(cid:152)(cid:152)(cid:156)(cid:156)(cid:204)(cid:204)(cid:136)(cid:136)(cid:86)(cid:86)(cid:105)(cid:105)(cid:93)(cid:93)(cid:202)(cid:202)(cid:219)(cid:219)(cid:136)(cid:136)(cid:195)(cid:195)(cid:136)(cid:136)(cid:204)(cid:204)(cid:92)(cid:92)(cid:202)(cid:202) (cid:220)(cid:220)(cid:220)(cid:220)(cid:220)(cid:220)(cid:176)(cid:176)(cid:136)(cid:136)(cid:86)(cid:86)(cid:105)(cid:105)(cid:152)(cid:152)(cid:136)(cid:136)(cid:176)(cid:176)(cid:86)(cid:86)(cid:156)(cid:156)(cid:147)(cid:147)(cid:201)(cid:201)(cid:213)(cid:213)(cid:152)(cid:152)(cid:143)(cid:143)(cid:156)(cid:156)(cid:86)(cid:86)(cid:142)(cid:142)(cid:176)(cid:176)(cid:133)(cid:133)(cid:204)(cid:204)(cid:147)(cid:147) BRIEF CONTENTS PART ONE Introducing Management Chapter 1: Managing and the Manager’s Job 1 Chapter 2: Traditional and Contemporary Management Perspectives 34 PART TWO Understanding the Environmental Context of Managing Chapter 3: Understanding the Organization’s Environment 64 Chapter 4: Responding to the Ethical and Social Environment 100 Chapter 5: Navigating the Global Environment 135 PART THREE Planning and Decision Making Chapter 6: Basic Elements of Planning and Decision Making 169 Chapter 7: Managing Strategy and Strategic Planning 203 Chapter 8: Managing Decision Making and Problem Solving 242 Chapter 9: Managing Start-Ups and New Ventures 272 PART FOUR The Organizing Process Chapter 10: Basic Elements of Organizing 305 Chapter 11: Managing Organization Design 337 Chapter 12: Managing Organization Change and Innovation 366 Chapter 13: Managing Human Resources in Organizations 399 PART FIVE The Leading Process Chapter 14: Basic Elements of Individual Behavior in Organizations 437 Chapter 15: Managing Employee Motivation and Performance 473 Chapter 16: Managing Leadership and Influence Processes 511 Chapter 17: Managing Interpersonal Relations and Communication 548 Chapter 18: Managing Work Groups and Teams 579 PART SIX The Controlling Process Chapter 19: Basic Elements of Control 612 Chapter 20: Managing Operations, Quality, and Productivity 645 iii Copyright 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. BK-CHE-GRIFFIN_12E-150034-FM.indd 3 08/10/15 4:16 PM (cid:13)(cid:96)(cid:136)(cid:204)(cid:105)(cid:96)(cid:202)(cid:220)(cid:136)(cid:204)(cid:133)(cid:202)(cid:204)(cid:133)(cid:105)(cid:202)(cid:96)(cid:105)(cid:147)(cid:156)(cid:202)(cid:219)(cid:105)(cid:192)(cid:195)(cid:136)(cid:156)(cid:152)(cid:202)(cid:156)(cid:118)(cid:202) (cid:22)(cid:152)(cid:118)(cid:136)(cid:221)(cid:202)(cid:42)(cid:192)(cid:156)(cid:202)(cid:42)(cid:12)(cid:19)(cid:202)(cid:13)(cid:96)(cid:136)(cid:204)(cid:156)(cid:192)(cid:202) (cid:47)(cid:156)(cid:202)(cid:192)(cid:105)(cid:147)(cid:156)(cid:219)(cid:105)(cid:202)(cid:204)(cid:133)(cid:136)(cid:195)(cid:202)(cid:152)(cid:156)(cid:204)(cid:136)(cid:86)(cid:105)(cid:93)(cid:202)(cid:219)(cid:136)(cid:195)(cid:136)(cid:204)(cid:92)(cid:202) (cid:220)(cid:220)(cid:220)(cid:176)(cid:136)(cid:86)(cid:105)(cid:152)(cid:136)(cid:176)(cid:86)(cid:156)(cid:147)(cid:201)(cid:213)(cid:152)(cid:143)(cid:156)(cid:86)(cid:142)(cid:176)(cid:133)(cid:204)(cid:147) Copyright 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. BK-CHE-GRIFFIN_12E-150034-FM.indd 4 08/10/15 4:16 PM (cid:13)(cid:96)(cid:136)(cid:204)(cid:105)(cid:96)(cid:202)(cid:220)(cid:136)(cid:204)(cid:133)(cid:202)(cid:204)(cid:133)(cid:105)(cid:202)(cid:96)(cid:105)(cid:147)(cid:156)(cid:202)(cid:219)(cid:105)(cid:192)(cid:195)(cid:136)(cid:156)(cid:152)(cid:202)(cid:156)(cid:118)(cid:202) (cid:22)(cid:152)(cid:118)(cid:136)(cid:221)(cid:202)(cid:42)(cid:192)(cid:156)(cid:202)(cid:42)(cid:12)(cid:19)(cid:202)(cid:13)(cid:96)(cid:136)(cid:204)(cid:156)(cid:192)(cid:202) (cid:47)(cid:156)(cid:202)(cid:192)(cid:105)(cid:147)(cid:156)(cid:219)(cid:105)(cid:202)(cid:204)(cid:133)(cid:136)(cid:195)(cid:202)(cid:152)(cid:156)(cid:204)(cid:136)(cid:86)(cid:105)(cid:93)(cid:202)(cid:219)(cid:136)(cid:195)(cid:136)(cid:204)(cid:92)(cid:202) (cid:220)(cid:220)(cid:220)(cid:176)(cid:136)(cid:86)(cid:105)(cid:152)(cid:136)(cid:176)(cid:86)(cid:156)(cid:147)(cid:201)(cid:213)(cid:152)(cid:143)(cid:156)(cid:86)(cid:142)(cid:176)(cid:133)(cid:204)(cid:147) CONTENTS PART ONE Introducing Skill-Building Personal Assessment 28 Management Management at Work 30 CHAPTER 1: MANAGING AND THE YOU MAKE THE CALL: How to Make Mistakes MANAGER’S JOB 1 and Influence People 31 MANAGEMENT IN ACTION: How to Make Mistakes Endnotes 32 and Influence People 2 CHAPTER 2: TRADITIONAL AND An Introduction to Management 4 CONTEMPORARY MANAGEMENT PERSPECTIVES 34 The Management Process (What do Managers do?) 7 Planning and Decision Making: Determining MANAGEMENT IN ACTION: The Lighter Side of Courses of Action 8 Sustainability 35 Organizing: Coordinating Activities and Resources 8 The Role of Theory and History in Management 37 Leading: Motivating and Managing People 8 The Importance of Theory and History 37 Controlling: Monitoring and Evaluating Activities 9 Precursors to Management Theory 38 Kinds of Managers 9 The Classical Management Perspective 39 Managing at Different Levels of the Organization 9 Scientific Management 39 Managing in Different Areas of the Organization 11 Administrative Management 41 TECH WATCH: Show Me the ROI 13 The Classical Management Perspective Today 41 Basic Managerial Roles and Skills 14 The Behavioral Management Perspective 42 Managerial Roles 14 The Human Relations Movement 43 The Emergence of Organizational Behavior 44 A WORLD OF DIFFERENCE: PR and Performance in The Behavioral Management Perspective Today 45 Diversity Scoring 15 Managerial Skills 16 The Quantitative Management Perspective 45 The Nature of Managerial Work 19 TECH WATCH: Does ROI Have Redeeming Social The Science and the Art of Management 19 Value? 46 Becoming a Manager 20 Management Science 47 The Scope of Management 21 Operations Management 47 The Quantitative Management Perspective Today 47 The New Workplace 24 Integrating Perspectives for Managers 48 Summary of Learning Outcomes and Key Points 26 The Systems Perspective 48 Discussion Questions 26 The Contingency Perspective 50 An Integrating Framework 51 Building Effective Time-Management Skills 27 Contemporary Management Issues and Building Effective Conceptual Skills 28 Challenges 52 v Copyright 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. BK-CHE-GRIFFIN_12E-150034-FM.indd 5 08/10/15 4:17 PM (cid:13)(cid:96)(cid:136)(cid:204)(cid:105)(cid:96)(cid:202)(cid:220)(cid:136)(cid:204)(cid:133)(cid:202)(cid:204)(cid:133)(cid:105)(cid:202)(cid:96)(cid:105)(cid:147)(cid:156)(cid:202)(cid:219)(cid:105)(cid:192)(cid:195)(cid:136)(cid:156)(cid:152)(cid:202)(cid:156)(cid:118)(cid:202) (cid:22)(cid:152)(cid:118)(cid:136)(cid:221)(cid:202)(cid:42)(cid:192)(cid:156)(cid:202)(cid:42)(cid:12)(cid:19)(cid:202)(cid:13)(cid:96)(cid:136)(cid:204)(cid:156)(cid:192)(cid:202) (cid:47)(cid:156)(cid:202)(cid:192)(cid:105)(cid:147)(cid:156)(cid:219)(cid:105)(cid:202)(cid:204)(cid:133)(cid:136)(cid:195)(cid:202)(cid:152)(cid:156)(cid:204)(cid:136)(cid:86)(cid:105)(cid:93)(cid:202)(cid:219)(cid:136)(cid:195)(cid:136)(cid:204)(cid:92)(cid:202) (cid:220)(cid:220)(cid:220)(cid:176)(cid:136)(cid:86)(cid:105)(cid:152)(cid:136)(cid:176)(cid:86)(cid:156)(cid:147)(cid:201)(cid:213)(cid:152)(cid:143)(cid:156)(cid:86)(cid:142)(cid:176)(cid:133)(cid:204)(cid:147) vi Contents Contemporary Applied Perspectives 53 Managing Organization Culture 81 Contemporary Management Challenges 54 The Multicultural Environment 82 LEADING THE WAY: A Hooters Girl on the Fast Trends in Diversity and Multiculturalism 82 Track 54 Dimensions of Diversity and Multiculturalism 84 Summary of Learning Outcomes and Organization–Environment Relationships 86 Key Points 56 How Environments Affect Organizations 86 How Organizations Adapt to Their Environments 89 Discussion Questions 57 Building Effective Decision-Making Skills 58 Summary of Learning Outcomes and Key Points 92 Building Effective Interpersonal Skills 58 Discussion Questions 93 Skill-Building Personal Assessment 59 Building Effective Time-Management Skills 93 Management at Work 61 Building Effective Communication Skills 94 YOU MAKE THE CALL: The Lighter Side of Skill-Building Personal Assessment 95 Sustainability 62 Management at Work 96 Endnotes 63 YOU MAKE THE CALL: Putting Miscommunication in Context 97 PART TWO Understanding the Environmental Context of Managing Endnotes 98 CHAPTER 3: UNDERSTANDING CHAPTER 4: RESPONDING TO THE THE ORGANIZATION’S ETHICAL AND SOCIAL ENVIRONMENT 64 ENVIRONMENT 100 MANAGEMENT IN ACTION: Putting MANAGEMENT IN ACTION: Management by Miscommunication in Context 65 Objectionable Behavior 101 The Organization’s Environments 67 Individual Ethics in Organizations 103 Managerial Ethics 104 The External Environment 68 The General Environment 69 LEADING THE WAY: Happy Fit 106 Ethics in an Organizational Context 108 DOING BUSINESS ON PLANET EARTH: Packaging Managing Ethical Behavior 108 Sustainability 71 The Task Environment 73 Emerging Ethical Issues in Organizations 112 Ethical Leadership 112 BEYOND TRADITIONAL BUSINESS: How to Make a Ethical Issues in Corporate Governance 113 Cause Effective 75 Ethical Issues in Information Technology 113 The Internal Environment 78 Social Responsibility and Organizations 114 Owners 78 Areas of Social Responsibility 114 Board of Directors 79 Employees 79 DOING BUSINESS ON PLANET EARTH: Raising the Physical Work Environment 79 CSR Bar 117 Arguments For and Against Social Responsibility 118 The Organization’s Culture 80 Organizational Approaches to Social Responsibility 120 The Importance of Organization Culture 80 Determinants of Organization Culture 81 The Government and Social Responsibility 122 Copyright 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. BK-CHE-GRIFFIN_12E-150034-FM.indd 6 08/10/15 4:17 PM (cid:13)(cid:96)(cid:136)(cid:204)(cid:105)(cid:96)(cid:202)(cid:220)(cid:136)(cid:204)(cid:133)(cid:202)(cid:204)(cid:133)(cid:105)(cid:202)(cid:96)(cid:105)(cid:147)(cid:156)(cid:202)(cid:219)(cid:105)(cid:192)(cid:195)(cid:136)(cid:156)(cid:152)(cid:202)(cid:156)(cid:118)(cid:202) (cid:22)(cid:152)(cid:118)(cid:136)(cid:221)(cid:202)(cid:42)(cid:192)(cid:156)(cid:202)(cid:42)(cid:12)(cid:19)(cid:202)(cid:13)(cid:96)(cid:136)(cid:204)(cid:156)(cid:192)(cid:202) (cid:47)(cid:156)(cid:202)(cid:192)(cid:105)(cid:147)(cid:156)(cid:219)(cid:105)(cid:202)(cid:204)(cid:133)(cid:136)(cid:195)(cid:202)(cid:152)(cid:156)(cid:204)(cid:136)(cid:86)(cid:105)(cid:93)(cid:202)(cid:219)(cid:136)(cid:195)(cid:136)(cid:204)(cid:92)(cid:202) (cid:220)(cid:220)(cid:220)(cid:176)(cid:136)(cid:86)(cid:105)(cid:152)(cid:136)(cid:176)(cid:86)(cid:156)(cid:147)(cid:201)(cid:213)(cid:152)(cid:143)(cid:156)(cid:86)(cid:142)(cid:176)(cid:133)(cid:204)(cid:147) Contents vii How Government Influences Organizations 122 Competing in a Global Economy 159 How Organizations Influence Government 124 Globalization and Organization Size 159 Management Challenges in a Global Economy 160 Managing Social Responsibility 125 Formal Organizational Actions 125 Summary of Learning Outcomes and Informal Organizational Actions 126 Key Points 162 Evaluating Social Responsibility 127 Discussion Questions 162 Summary of Learning Outcomes and Key Points 128 Building Effective Technical Skills 163 Discussion Questions 128 Building Effective Communication Skills 164 Building Effective Diagnostic and Decision- Skill-Building Personal Assessment 164 Making Skills 129 Management at Work 165 Building Effective Interpersonal Skills 130 YOU MAKE THE CALL: Into Africa 167 Skill-Building Personal Assessment 130 Endnotes 167 Management at Work 131 YOU MAKE THE CALL: Management by PART THREE Planning and Decision Objectionable Behavior 133 Making Endnotes 133 CHAPTER 6: BASIC ELEMENTS OF PLANNING AND DECISION CHAPTER 5: NAVIGATING THE GLOBAL MAKING 169 ENVIRONMENT 135 MANAGEMENT IN ACTION: Cruise Control 170 MANAGEMENT IN ACTION: Into Africa 136 Decision Making and the Planning Process 172 The Nature of International Business 138 The Meaning of International Business 139 Organizational Goals 174 Trends in International Business 140 Purposes of Goals 174 Managing the Process of Globalization 141 Kinds of Goals 175 Competing in a Global Market 144 Responsibilities for Setting Goals 176 Managing Multiple Goals 178 The Structure of the Global Economy 145 Mature Market Economies and Systems 145 Organizational Planning 178 High-Potential/High-Growth Economies 147 Kinds of Organizational Plans 179 Other Economies 147 Time Frames for Planning 179 The Role of the GATT and the WTO 148 TECH WATCH: Starting Conversations 180 Environmental Challenges of International Responsibilities for Planning 181 Management 149 Contingency Planning and Crisis Management 182 The Economic Environment 149 Tactical Planning 185 DOING BUSINESS ON PLANET EARTH: Cold Developing Tactical Plans 185 Calling 151 Executing Tactical Plans 186 The Political-Legal Environment 152 The Cultural Environment 154 Operational Planning 187 Single-Use Plans 187 A WORLD OF DIFFERENCE: Competing with Local Standing Plans 188 Headhunters 156 Copyright 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. BK-CHE-GRIFFIN_12E-150034-FM.indd 7 08/10/15 4:17 PM (cid:13)(cid:96)(cid:136)(cid:204)(cid:105)(cid:96)(cid:202)(cid:220)(cid:136)(cid:204)(cid:133)(cid:202)(cid:204)(cid:133)(cid:105)(cid:202)(cid:96)(cid:105)(cid:147)(cid:156)(cid:202)(cid:219)(cid:105)(cid:192)(cid:195)(cid:136)(cid:156)(cid:152)(cid:202)(cid:156)(cid:118)(cid:202) (cid:22)(cid:152)(cid:118)(cid:136)(cid:221)(cid:202)(cid:42)(cid:192)(cid:156)(cid:202)(cid:42)(cid:12)(cid:19)(cid:202)(cid:13)(cid:96)(cid:136)(cid:204)(cid:156)(cid:192)(cid:202) (cid:47)(cid:156)(cid:202)(cid:192)(cid:105)(cid:147)(cid:156)(cid:219)(cid:105)(cid:202)(cid:204)(cid:133)(cid:136)(cid:195)(cid:202)(cid:152)(cid:156)(cid:204)(cid:136)(cid:86)(cid:105)(cid:93)(cid:202)(cid:219)(cid:136)(cid:195)(cid:136)(cid:204)(cid:92)(cid:202) (cid:220)(cid:220)(cid:220)(cid:176)(cid:136)(cid:86)(cid:105)(cid:152)(cid:136)(cid:176)(cid:86)(cid:156)(cid:147)(cid:201)(cid:213)(cid:152)(cid:143)(cid:156)(cid:86)(cid:142)(cid:176)(cid:133)(cid:204)(cid:147) viii Contents BEYOND TRADITIONAL BUSINESS: Secret Unrelated Diversification 221 Operating Procedure 303 189 LEADING THE WAY: The Beauty of Managing Goal-Setting and Planning Processes 190 Differentiation 222 Barriers to Goal Setting and Planning 190 Implementing Corporate-Level Strategies 223 Overcoming the Barriers 192 Becoming a Diversified Firm 224 Using Goals to Implement Plans 193 Managing Diversification 225 Summary of Learning Outcomes and Key Points 195 International and Global Strategies 228 Discussion Questions 196 Developing International and Global Strategies 228 Strategic Alternatives for International Business 230 Building Effective Decision-Making Skills 197 Summary of Learning Outcomes and Key Points 232 Building Effective Time-Management Skills 197 Discussion Questions 233 Skill-Building Personal Assessment 198 Building Effective Decision-Making Skills 233 Management at Work 199 Building Effective Conceptual Skills 234 YOU MAKE THE CALL: Cruise Control 201 Skill-Building Personal Assessment 235 Endnotes 202 Management at Work 237 CHAPTER 7: MANAGING STRATEGY AND STRATEGIC PLANNING 203 YOU MAKE THE CALL: Stay Hungry 239 Endnotes 240 MANAGEMENT IN ACTION: Stay Hungry 204 The Nature of Strategic Management 206 CHAPTER 8: MANAGING DECISION MAKING AND PROBLEM The Components of Strategy 206 SOLVING 242 Levels of Strategy 207 Strategy Formulation and Implementation 207 MANAGEMENT IN ACTION: Moneyball on Steroids 243 BEYOND TRADITIONAL BUSINESS: Like It or Not 208 The Nature of Decision Making 245 Using SWOT Analysis to Formulate Strategy 209 Decision Making Defined 245 Evaluating an Organization’s Strengths 209 Types of Decisions 246 Evaluating an Organization’s Weaknesses 211 Decision-Making Conditions 246 Evaluating an Organization’s Opportunities and Rational Perspectives on Decision Making 249 Threats 212 The Classical Model of Decision Making 249 Formulating Business-Level Strategies 212 Steps in Rational Decision Making 250 Porter’s Generic Strategies 212 Evidence-Based Management 254 The Miles and Snow Typology 214 Behavioral Elements in Decision Making 255 Strategies Based on the Product Life Cycle 216 The Administrative Model 255 Implementing Business-Level Strategies 217 Political Forces in Decision Making 256 Implementing Porter’s Generic Strategies 217 A WORLD OF DIFFERENCE: The Verdict on Implementing Miles and Snow’s Strategies 218 Diversity 257 Formulating Corporate-Level Strategies 219 Intuition and Escalation of Commitment 258 Single-Product Strategy 220 Risk Propensity and Decision Making 259 Related Diversification 220 Ethics and Decision Making 259 Copyright 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. 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