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Strategic Management

Strategic Management
Theory and Practice

Fourth Edition

Now published by SAGE!

© 2014 | 664 pages | SAGE Publications, Inc
Balancing theory with practice, this fully updated fourth edition of John A. Parnell’s acclaimed text continues to provide detailed, accessible coverage of the strategic management field. Taking a global perspective, the text addresses concepts sequentially, from external and internal analysis to strategy formulation, strategy execution, and strategic control. To help readers build their analytic skills as they master course concepts, Parnell aligns each chapter’s key concepts with 25 case analysis steps. Current examples and high interest cases, largely drawn from The Wall Street Journal and Financial Times, illustrate the key role of strategic management in the United States and around the world. Ideal for the capstone strategic management course, Strategic Management is appropriate for a range of undergraduate and graduate courses.
About the Author
1. Fundamentals of Strategic Management
2. Industry Competition
3. The External Environment: Political-Legal and Economic Forces
4. The External Environment: Social and Technological Forces
5. The Organization: Ethics and Corporate Social Responsibility
6. Corporate-Level Strategies
7. Business Unit Strategies
8. Functional Strategies
9. Strategy Formulation
10. Strategy Execution: Structure
11. Strategy Execution: Strategic Change, Culture, and Leadership
12. Strategic Control and Crisis Management
Case Analysis  
Real-Time Cases  
Traditional Cases  

“An excellent introduction to the field of business strategy, which can be used at both the undergraduate and graduate levels. The book defines key concepts by using up-to-date examples and case studies that students will find interesting and relevant.”

Peter Schneider
College Of St Elizabeth - Morristown

“The varieties of levels of strategic analysis (reading, real-time case, traditional case) make the Parnell text perhaps the most flexible and adaptable strategic management text on the market.”

Keith Harman
Oklahoma Baptist University - Shawnee

“The case analysis questions provide the student with a clear roadmap to completing a comprehensive strategic analysis, from defining the industry through identifying and choosing strategic alternatives, and determining how to measure their success in practice.”

Jim Whitney
Champlain College - Burlington

“The biggest advantage I see in the text is that it is readable. The undergraduate students do not have the problems caused by other textbooks.”

Robert Gulbro
Athens State University - Athens

“The writing style is the biggest asset of the text. In addition, the multiple examples on a topic allow students to receive different points of view to understand these concepts.”

Edward Renshler
University Of South Florida – Tampa

This is not the easiest of books to use, although once you have a full grasp of the book it does provide some interesting insights and case studies to consider.

Mr Christopher McKechnie
Scotton Hall, HM Forces
October 6, 2015

This book provides comprehensive coverage of strategic managment. The use of timely examples clearly illustrates the role of strategy in practice.

Ms Jacqueline Harley
Dept of Health & Social Care, Chester University
August 17, 2015

Great layout. Clearly written with strong cases.

Mr Paul D'Andrea
Management, Sacred Heart University
June 23, 2015

Great for practical cases and examples of strategy in corporate settings

Ms Victoria Pagan
Business School, Newcastle University
June 22, 2015

Did not consider

Dr Krishna Venkitachalam
Stockholm Business School, Stockholm University
May 25, 2015


Key features


  • New coverage of technology, especially the Internet, illustrates technology's emerging role as both an external force and an internal component in strategy.
  • Updated and expanded coverage of ethics and corporate social responsibility (CSR) features additional material on agency theory and the CSR debate.
  • More than 10 new cases and 10 new Business + Strategy readings provide advanced and detailed discussions of chapter topics.
  • New and expanded coverage of the resource-based view (RBV) now includes more discussion on strategic capabilities.
  • An expanded strategic choice section (i.e., the SWOT (strengths, weaknesses, opportunities, and threats) and SW/OT matrix) now includes coverage of the SLSC matrix.
  • A wealth of additional examples gleaned from The Wall Street Journal and other sources bring the book completely up to date.


  • Global issues are covered in each chapter, discussing emerging nations and the realities of strategic management in today's global environment.
  • Coverage of the case analysis approach is integrated throughout the text, rather than relegated to a chapter at the end, allowing students to build their case analysis skills one step at a time.
  • 30 brief Real-time Cases and 12 Traditional Cases feature small, private, and international enterprises representing a variety of industries.
  • "Strategy at Work" boxes provide detailed, real-world examples that illustrate text concepts, demonstrating the connection between theory and practice.
  • Coverage of crisis management, technology, and ethics give readers a strong grounding in these important, yet often overlooked topics.
  • Case Challenge Questions, Review Questions, Exercises, and Practice Quizzes allow students to think critically and apply new concepts.

Although the fourth edition features the same strategic management model presented in the third edition, a number of changes have been made. The integration of new concepts and the enhancement of existing ones can be seen throughout the chapters, including a large number of global strategy references and a chapter devoted entirely to a perspective on the organization based on ethics and social responsibility. Specifically, key changes to the fourth edition include:

• The coverage of ethics and social responsibility has been expanded and integrated with other topics related to organizational direction in chapter 5.

• Coverage of the external environment has been expanded into two chapters. Chapter 3 explores political, legal, and economic forces while Chapter 4 discusses social and technological forces.

•  A large number of recent examples have been added. Many of these address the effects of social, technological and other external forces on firm performance. Others highlight the success and failure of specific firms.

• A new section on Emerging Trends in Chapter 12 integrates key topics in the text along the themes of global competitiveness, the Internet, sustainability, strategic complexity, and crisis management.

• This edition features 11 new traditional cases. Real-time cases have been updated as well.

• References have been completely updated and a large number of new global references have been added to this edition.

• The online student research page has been updated and expanded to provide practical assistance for students conducting case research.

Sample Materials & Chapters

Chapter 1

Chapter 2

Chapter 7

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