Creating and sustaining a profitable business requires close adherence to the fundamentals of business strategy. Fortunately, most of business strategy can be boiled down to three simple rules: 1. Firms must create value for their customers. 2. Firms must capture that value for themselves. 3. Firms must control value, so that other firms do not steal it from them.
Book Details:
- Author: David Dranove
- ISBN: 9780471478553
- Year Published: 2004
- Pages: 240
- BISAC: BUS041000, BUSINESS & ECONOMICS/Management
About the Book and Topic:
Creating and sustaining a profitable business requires close adherence to the fundamentals of business strategy. Fortunately, most of business strategy can be boiled down to three simple rules: 1. Firms must create value for their customers. 2. Firms must capture that value for themselves. 3. Firms must control value, so that other firms do not steal it from them.
Not since Michael Porters Competitive Strategy has an economist captured the magic of strategy from an economic perspective. This book aims to do so, by building on a proven framework for analysis that has been embraced by business economists worldwide. In effect, it will bring Porters approach into the 21st century.
FOURTH BOOK IN THE SUCCESSFUL KELLOGG SERIES: Weve enjoyed healthy sales for this series (Kellogg on Marketing has sold over 27,000 copies), and this book will benefit from the same level of marketing support that weve received for previous Kellogg books, including an email blast to alumni. We are working with the author to arrange speaking engagements like the Academy of Management just after the book publishes. WRITTEN FOR THE LAY BUSINESSPERSON: Strategy is a complex topic, but this book breaks it down into the 3 Cs: Creating, Capturing, and Controlling value. In addition to this simple structure, Dranove will make the book accessible with examples from well-known companies such as Wal-Mart, Starbucks, and Google, and end-of-chapter checklists will help guide readers through each of the strategic lessons. Co-author Sonia Marciano will write the workbook to Dranoves successful textbook, so she can ensure the book steers away from economic jargon and complex models to speak directly to a trade audience. A PROVEN TOPIC FROM A RESPECTED AUTHOR: With The Economics of Strategy, Dranove proved that it was possible to synthesize economic research into a coherent framework for business strategy.
About the Author
David Dranove is the Walter McNerney Distinguished Professor of Health Industry Management and Professor of Management and Strategy at the Kellogg Graduate School of Management. He is the former chair of the Department of Management and Strategy, and his current research and teaching focus is on problems in industrial organization and business strategy. He has published extensively in the fields of economics and strategy, and his Wiley textbook, The Economics of Strategy, has netted almost $2 million since 1999. He has published over seventy research papers in such journals as Management Science, The Journal of Economics and Management Strategy, and Strategic Management Journal, and has been profiled in Business Week online. His course on Value Creation Strategy is part of the continuing education program for INFORMS (The Institute for Operations Research and Management Science.) Finally, he consults regularly for leading private and public sector organizations about issues in strategic management and antitrust. Sonia Marciano is Institute Fellow and Senior Lecturer at Michael Porter’s Institute for Strategy and Competitiveness at the Harvard Business School. Prior to joining the Institute, Professor Marciano spent eight years as a Clinical Professor of Management and Strategy at the Kellogg School of Management, as well as an Adjunct Professor of Strategy at the University of Chicago. She is continuously involved with executive education programs for consulting and manufacturing firms. She also has taught strategy and economics for executive education programs in the U.S., Canada and Europe.