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Theory, Practice, Implementation

Brad MacKay, Mikko Arevuo, David Mackay, and Maureen Meadows

Publication Date - 16 August 2020

ISBN: 9780198779421

768 pages
10.4 x 7.7 inches


What does strategy mean to a Head of Ethics, Sustainability, and Governance in a globally-leading asset management company in London?

How does the Chair of a not-for-profit community interest company, which supports women in Scotland to thrive in business, use learning to shape strategy?

How is innovation, digitalization, and disruption viewed by the CEO of a Singaporean fintech start-up?

Strategy: Theory, Practice, Implementation represents a new breed of textbook for this discipline. Developed in consultation with lecturers, students, and professionals, the book's research-driven Process-Practice Model of Strategy places implementation at its core, enabling students to develop a crystal clear understanding of how strategy operates in a culture of dynamism, adaptability, and change.

The authors' wealth of teaching, research, and practitioner experience shines through in their writing as they strike the perfect balance between clarity and rigour. They expertly cover all the core areas of strategy, using carefully paced, step-by-step guidance to apply theories and models of strategy to a diverse range of examples, making the text the most practical of its kind.

Moving beyond the limits of traditional texts, Strategy offers unique Practitioner Insights (and accompanying video interviews) gathered from professionals engaged in a range of strategic roles, across multiple industries and sectors worldwide, to help students grasp the complex reality of strategic management in practice.

Strategy: Theory, Practice, Implementation ultimately provides students with a lively, critical, and highly practical approach to thinking, talking, and acting like a strategist. This text will inspire them and fully prepare them for their future career in business.

Online resources accompaning the textbook include:

For registered adopters:

- A test bank
- PowerPoint slides
- Answers to, or guidance on, the chapter-opening case study questions in the book
- A series of 'Boardroom Challenges' for use in group role play exercises / action learning simulations
- Teaching notes on using the 'Boardroom Challenges' in class

For students:

- Video interviews with the practitioners from the Practitioner Insights, and further videos providing advice on how students can enhance their employability.
- Research Insights to broaden students' perspectives of academic research and its impact on strategic thinking
- Links to articles, cases, chapters, or multimedia resources to support students' further reading
- Additional case studies with exercises or discussion questions
- Video interviews with the authors in which they discuss key theories and implementation issues
- MCQs
- Guidance on how to analyse a case study
- Flashcard glossary


  • The only book to put the implementation of strategy centre stage.
  • Practitioner Insights - one-to-one videos with practitioners filmed specifically for this project - showcase strategy in the real world.
  • Offers the most diverse range of examples and case studies, including small, medium, and large organizations in a range of sectors and industries over six continents.
  • Covers all strategic theories, models, and approaches to strategy required at undergraduate and postgraduate levels.
  • Includes detailed coverage of the latest advancements in reflective strategy, sustainability, digitization, disruption, and innovation to equip students with the most up-to-date understanding of strategic thinking.
  • Provides the most dynamic and flexible approach to teaching and learning strategy through a research-supported Process-Practice Model of Strategy, which puts practitioners at its centre.

About the Author(s)

Brad MacKay, Professor of Strategy and Vice-Principal, the University of St Andrews

Mikko Arevuo, Principal Lecturer, Regent's University London

David Mackay, MBA Academic Director & Professor of Strategy, University of Strathclyde

Maureen Meadows, Professor of Strategic Management, Coventry University

Table of Contents

    Part 1: Define strategy meaning, process, and outcomes
    1. Interpreting strategy
    2. A process-practice model of strategy
    3. Strategic decision making in organizations
    Part 2: Enhance knowledge of context and options
    4. Strategic organization: purpose, values, and culture
    5. External environment: macro, industry, and competitive settings
    6. Internal environment: resources, capabilities, and activities
    Part 3: Debate how to scope, compete, and perform
    7. Corporate strategy and structure
    8. Strategies for achieving competitive advantage
    9. Functional strategy and performance
    Part 4: Shape strategy to context and objectives
    10. Strategies for growth
    11. Innovation, disruption, and digitalization
    12. Competing in a globalized world
    13. Sustainability and strategy
    Part 5: Activate strategy and learn from experience
    14. Leading strategic change
    15. Designing effective strategy activities
    16. Strategy-in-practice: learning, reflecting, thinking

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