Behavioral Strategic Management

Book excerpt: This unique text examines strategic management and its implementation in the context of what we know about how individuals and organizations actually make decisions. Through this behavioral approach, students gain a richer, more realistic understanding of how to create coherent strategies that take advantage their strengths and build their capabilities. Integrating analytical tools found in a typical strategy textbook with cognitive and psychological insights into decision making, the book focuses on core issues that will help students understand the complexities inherent in making profitable decisions. Readers will learn about the purpose of organizations; consider how political, technological, and industry environments play into firm capabilities; how these capabilities are used in competition; and how to adapt strategies over time. The authors also cover important topics like managerial cognition, learning, and corporate strategy, which receive scant attention in other texts. Chapter summaries, experiential exercises, and "Food for Thought" boxes featuring plenty of discussion questions provide practical insight into how to utilize a successful strategy and maintain a consistent, long-term direction within a firm. Succinct and well-written, Behavioral Strategic Management offers graduate students of strategy a deeper and broader understanding of the topic.