Strategic Management: Reflecting Strategic Flexibility, Innovation and Entrepreneurship

This book emphasizes the concepts of strategic innovation and entrepreneurship, which are quite prevalent in today's organizations. Going beyond traditional approach that follows strategic analysis, choice and implementation framework, and traditional theories based on industrial organization paradigm and resource-based view, the book considers current business environment, which is volatile, uncertain, complex, chaotic, conflicting, and ambiguous (VUCA). It takes the strategic flexibility view to cope with these strategic challenges.

The book introduces the subject matter of strategic management in retrospect and prospect, highlighting critical theories of strategic management. It uses a strategic learning framework rather than a purely analytical approach to dynamically learn about the external situation, internal resources, and capabilities. The evolution of strategy is given in terms of generic strategies in practice and adaptation in specific contexts. It further deals with essential topics such as strategic alliances and networks, mergers and acquisitions, and global strategy. It then provides the execution framework and models covering restructuring, leadership, corporate governance, and change management. The strategy in specific areas such as strategic technology management, e-business and knowledge management, and functional strategies and policies are discussed to understand the implementation depth. Finally, it touches upon contemporary issues such as sustainable enterprise, stakeholder perspectives, and comparative strategies in various contexts. It then outlines future directions of strategic management. In the end, case analysis guidelines are provided with sample cases from different parts of the world. The book also used interpretive and simulation methods such as system dynamics and total interpretive structural modeling to grasp the relationships and their dynamic impact provided throughout the book. It will be an invaluable resource for researchers of business strategy as well as students studying these courses; it will also be useful for industry practitioners, corporates and business policy makers.

Sushil is Emeritus Professor in the Department of Management Studies, Indian Institute of Technology (IIT) Delhi. He has been Deputy Director (Operations) and Dean (Faculty) at IIT Delhi. He has served as Visiting Professor and delivered seminars in many leading universities, such as Montpellier Business School, France; Kyoto University, Tokyo; University of Minnesota, Minneapolis, MN; Stevens Institute of Technology, NJ; University of Lethbridge, Alberta, Université Paris 1 Panthéon-Sorbonne, Paris, among others. He is an active researcher and has supervised more than 80 doctoral dissertations. He has twenty books to his credit in flexibility, strategy, systems thinking, and technology management and over 300 papers in various refereed journals and conferences. He is the Founding Editor-in-Chief of the Global Journal of Flexible Systems Management published by Springer, and serves on the Editorial Boards of leading international journals.

Dr. Sanjay Dhir is Associate Professor and Area Chair of Strategic Management in the Department of Management Studies, Indian Institute of Technology (IIT) Delhi, New Delhi, India. He is a Fellow (Ph.D.) from the Indian Institute of Management (IIM) Lucknow. He is also the Programme Coordinator for the MBA Programme at DMS, IIT Delhi. He has also been nominated as an expert for the 'GNCTD state-level committee on the oxygen infrastructure during the COVID-19 pandemic' by the Delhi Government. He is on the National Technical Advisory Committee (TAC) for Oxygen Infrastructure Management, as well as boards of national and international B-schools, institutions, and government bodies.