Strategic Management

Core Concepts from the Internet

Many textbooks have been published in the academic field of study known as Strategic Management. Some are written to meet the guidelines set forth by specialized accrediting agencies; others, to impart the results of research or scholarly activities. Whatever the reason for publication, all textbooks in this field of study cover its core concepts. A core concept in a given academic discipline is one that is central to the field. All scholars may not agree that it is “correct,” yet it heavily influences their thinking (through acceptance, modification, or rejection) and is likely to stand the test of time. The application of these concepts to the professional situations of the student is in a constant state of change. How do business schools attempt to accommodate this constant state of change? Current instructional practice in most business schools is to present the core concept via an established textbook and require students to demonstrate competency in the concept by conducting a case analysis or some other experiential activity. The case study assignment requires the student to assess the situation as presented in the case, consider this assessment in light of the core concept(s) studied, and develop solutions for the case that are based on the core concept(s). In the end, students learn to apply traditional textbook-based concepts to traditional problems. Yet, as has been reported in the media, “the Internet has changed everything.” Has the Internet changed the relevancy of Strategic Management core concepts? The assumption of this book is that the relevancy of the time-tested core concepts has not changed. What the Internet has changed is access to these core concepts. It is now possible for anyone to learn the core concepts of Strategic Management, or any other field of study, via the Internet. This real-time access to information can be used to revolutionize the application of core concepts to the professional lives of those who learn them.

Management. Knowledge is power in the business community. More and more
educational conferences are being held on knowledge. In order to run a
company appropriately, there must be a knowledge executive. The knowledge
executive requires vision, creativity, and to be technology wise. There must also
be a knowledge-based strategy. The knowledge—based strategy extends
beyond executives to employees throughout the organization. Knowledge
revolves heavily around ...