Enhanced descriptions from Syndetics:

The world's best-selling global business strategy text, Peng's GLOBAL STRATEGY, 5E uses a reader-friendly approach to help you master principles of strategic management from a truly global perspective. This edition emphasizes strategy around the globe using evidence-driven explanations with the latest research. A conversational style emphasizes the story behind the stories, while encouraging discussion. Timely debates address strategic issues, such as globalization versus de-globalization, offshoring versus non-offshoring and social media freedom of speech versus censorship. You also examine building an antitrust case against Big Tech and reducing income inequality via corporate social responsibility (CSR). Lively strategy-in-action boxes and numerous cases -- including brief, to-the-point integrative cases written with today's time-starved students in mind -- present current topics in every chapter.

Table of contents provided by Syndetics

• List of In-Chapter Features and Integrative Cases (p. xi)
• Preface (p. xv)
• About the Author (p. xx)
• Part 1 Foundations of Global Strategy
• Chapter 1 Strategizing Around the Globe (p. 2)
• Opening Case: Zoom (p. 3)
• Why Study Global Strategy? (p. 5)
• What Is Strategy? (p. 6)
• Origin (p. 6)
• Plan versus Action (p. 6)
• Strategy as Theory (p. 7)
• Strategy in Action 1.1 German and French Military Strategies in 1914 (p. 7)
• Strategy in Action 1.2 Selling Star Wars to LEGO Top Management (p. 10)
• Strategy, Strategist, and Strategic Leadership (p. 11)
• Fundamental Questions in Strategy (p. 12)
• Why Do Firms Differ? (p. 12)
• How Do Firms Behave? (p. 14)
• What Determines the Scope of the Firm? (p. 15)
• What Determines the Success and Failure of Firms Around the Giobe? (p. 15)
• Strategy in Action 1.3: Confessions of Your Textbook Author (p. 16)
• What is Global Strategy? (p. 17)
• Globalization and Semiglobalization (p. 17)
• What Is Globalization? (p. 17)
• The Swing of a Pendulum (p. 18)
• Black Swan and Risk Management (p. 19)
• Semiglobalization (p. 20)
• Debates and Extensions (p. 20)
• Debate 1 Globalization versus Deglobalization (p. 20)
• Debate 2 Strategic versus Nonstrategic Industries (p. 22)
• Debate 3 Just-in-Time versus Just-in-Case Management (p. 22)
• Fostering Critical Strategic Thinking Through Debates (p. 23)
• Organization of the Book (p. 23)
• Chapter Summary (p. 24)
• Key Terms (p. 24)
• Critical Discussion Questions (p. 24)
• Topics for Expanded Projects (p. 25)
• Closing Case: Two Scenarios of the Global Economy in 2050 (p. 25)
• Notes (p. 27)
• Chapter 2 Managing Industry Competition (p. 32)
• Opening Case: Global Competition in the Cruise Industry (p. 33)
• Defining Industry Competition (p. 35)
• The Five Forces Framework (p. 35)
• From Economics to Strategy (p. 35)
• Rivalry among Competitors (p. 37)
• Threat of Entrants (p. 37)
• Strategy in Action 2.1 High Fashion Fights Recession (p. 38)
• Bargaining Power of Suppliers (p. 40)
• Bargaining Power of Buyers (p. 40)
• Threat of Substitutes (p. 41)
• Lessons from the Five Forces Framework (p. 41)
• Strategyin Action 2.2: Digital Strategy and Five Forces (p. 42)
• Three Generic Strategies (p. 43)
• Cost Leadership (p. 43)
• Differentiation (p. 44)
• Focus (p. 45)
• Lessons from the Three Generic Strategies (p. 45)
• Debates and Extensions (p. 45)
• Debate 1 Clear versus Blurred Definitions of Industry (p. 46)
• Debate 2 Industry Rivalry versus Strategic Groups (p. 46)
• Debate 3 Integration versus Outsourcing (p. 47)
• Debate 4 Stuck in the Middle versus All-Rounder (p. 48)
• Debate 5 Economies of Scale versus 3D Printing (p. 48)
• Strategy in Action 2.3 Singapore Airlines Is Both a Differentiator and a Cost Leader (p. 49)
• Debate 6 Industry-Specific versus Firm-Specific and Institution-Specific Determinants of Performance (p. 50)
• Making Sense of the Debates (p. 50)
• The Savvy Strategist (p. 50)
• Chapter Summary (p. 51)
• Key Terms (p. 51)
• Critical Discussion Questions (p. 52)
• Topics For Expanded Projects (p. 52)
• Closing Case: The Future of the Automobile Industry (p. 52)
• Notes (p. 54)
• Chapter 3 Leveraging Resources and Capabilities (p. 58)
• Opening Case: Canada Goose Flies High (p. 59)
• Understanding Resources and Capabiiities (p. 60)
• Resources, Capabilities, and the Value Chain (p. 62)
• From SWOT to VRIO (p. 65)
• The Question of Value (p. 66)
• The Question of Rarity (p. 66)
• The Question of Imitability (p. 66)
• Strategy in Action 3.1 ASML (p. 67)
• The Question of Organization (p. 68)
• Strategy in Action 3.2 CIMC (p. 69)
• Debates and Extensions (p. 70)
• Debate 1 Firm-Specific versus Industry-Specific Determinants of Performance (p. 71)
• Debate 2 Static Resources versus Dynamic Capabilities (p. 71)
• Debate 3 Offshoring versus Nonoffshoring (p. 72)
• Debate 4 Domestic Resources versus International (Cross-Border) Capabilities (p. 74)
• Strategy in Action 3.3 Natura (p. 75)
• The Savvy Stategist (p. 76)
• Chapter Summary (p. 77)
• Key Terms (p. 77)
• Critical Discussion Questions (p. 78)
• Topics For Expanded Projects (p. 78)
• Closing Case: H-E-B Fights Coronavirus (p. 78)
• Notes (p. 80)
• Chapter 4 Emphasizing Institutions, Cultures, and Ethics (p. 84)
• Opening Case: Brexit and Strategic Choices (p. 85)
• Understanding Institutions (p. 87)
• Definitions (p. 87)
• What Do Institutions Do? (p. 88)
• How Do Institutions Reduce Uncertainty? (p. 88)
• An Institution-Based View of Business Strategy (p. 90)
• Overview (p. 90)
• Two Core Propositions (p. 92)
• Strategy in Action 4.1 The American Guanxi Industry (p. 93)
• Institutional Logics and Hybrid Organizations (p. 94)
• The Strategic Role of Culture (p. 94)
• The Definition of Culture (p. 94)
• The Five Dimensions of Culture (p. 95)
• Cultures and Strategic Choices (p. 96)
• The Strategic Role of Ethics (p. 97)
• The Definition and Impact of Ethics (p. 97)
• Managing Ethics Overseas (p. 98)
• Strategy in Action 4.2 Onsen and Tattoos in Japan (p. 98)
• Ethics and Corruption (p. 99)
• A Strategic Response Framework for Ethical Challenges (p. 100)
• Strategy in Action 4.3 Monetizing the Maasai Tribal Name (p. 101)
• Debates and Extensions (p. 102)
• Debate 1 Opportunism versus Individualism/Collectivism (p. 102)
• Debate 2 Cultural Distance versus Institutional Distance (p. 103)
• Debate 3 Freedom of Speech versus Censorship on the Internet (p. 104)
• The Savvy Strategist (p. 105)
• Chapter Summary (p. 106)
• Key Terms (p. 106)
• Critical Discussion Questions (p. 107)
• Topics For Expanded Projects (p. 107)
• Closing Case: IKEA's Challenge in Saudi Arabia (p. 107)
• Notes (p. 108)
• Part 2 Business-Level Strategies
• Chapter 5 Growing and Internationalizing the Entrepreneurial Firm (p. 114)
• Opening Case: The New East India Company (p. 115)
• Entrepreneurship and Entrepreneurial Firms (p. 116)
• A Comprehensive Model of Entrepreneurship (p. 117)
• Industry-Based Considerations (p. 118)
• Resource-Based Considerations (p. 119)
• Institution-Based Considerations (p. 120)
• Strategy in Action 5.1 Europe's Entrepreneurship Deficit (p. 120)
• Five Entrepreneurial Strategies (p. 121)
• Growth (p. 122)
• Strategy in Action 5.2 Tory Burch's Rise in the Fashion Industry (p. 122)
• Innovation (p. 123)
• Network (p. 123)
• Financing and Governance (p. 124)
• Harvest and Exit (p. 125)
• Internationalizing the Entrepreneurial Firm (p. 126)
• International Strategies for Entering Foreign Markets (p. 126)
• International Strategies for Staying in Domestic Markets (p. 127)
• Debates and Extensions (p. 128)
• Debate 1 Traits versus Institutions (p. 128)
• Debate 2 Slow Internationalizers versus Born Global Start-ups (p. 128)
• Strategy in Action 5.3 Immigrant Entrepreneurs (p. 129)
• Debate 3 High-Growth Entrepreneurship versus Ethically Questionable Behavior (p. 130)
• The Savvy Entrepreneur (p. 131)
• Chapter Summary (p. 132)
• Key Terms (p. 132)
• Critical Discussion Questions (p. 132)
• Topics For Expanded Projects (p. 133)
• Closing Case: Boom in Busts: Good or Bad? (p. 133)
• Notes (p. 134)
• Chapter 6 Entering Foreign Markets (p. 140)
• Opening Case: Amazon Enters India (p. 141)
• Overcoming Liability of Foreignness (p. 143)
• Understanding the Propensity to Internationalize (p. 143)
• Strategy in Action 6.1 Nordic Multinationals (p. 144)
• A Comprehensive Model of Foreign Market Entries (p. 145)
• Industry-Based Considerations (p. 145)
• Resource-Based Considerations (p. 146)
• Institution-Based Considerations (p. 147)
• Where to Enter? (p. 148)
• Location-Specific Advantages and Strategic Goals (p. 148)
• Cultural and Institutional Distances and Foreign Entry Locations (p. 150)
• When to Enter? (p. 150)
• How to Enter? (p. 152)
• Scale of Entry: Commitment and Experience (p. 152)
• Modes of Entry: The First Step on Equity versus Nonequity Modes (p. 152)
• Modes of Entry: The Second Step in Making Actual Selections (p. 155)
• Strategy in Action 6.1 Thai Union's Foreign Market Entries (p. 157)
• Debates and Extensions (p. 157)
• Debate 1 Liability versus Asset of Foreignness (p. 157)
• Debate 2 Old-Line versus Emerging Multinationals: OLI versus LLL (p. 158)
• Debate 3 Global versus Regional Geographic Diversification (p. 159)
• Debate 4 Contractual versus Noncontractual Approaches of Entry (p. 159)
• Strategy in Action 6.3 Goldman Sachs Enters Libya (p. 160)
• The Savvy Strategist (p. 161)
• Chapter Summary (p. 162)
• Key Terms (p. 162)
• Critical Discussion Questions (p. 162)
• Topics For Expanded Projects (p. 163)
• Closing Case: How Firms from Emerging Economies Fight Back (p. 163)
• Notes (p. 164)
• Chapter 7 Making Strategic Alliances and Networks Work (p. 168)
• Opening Case: Even Toyota Needs Friends (p. 169)
• Defining Strategic Alliances and Networks (p. 170)
• A Comprehensive Model of Strategic Alliances and Networks (p. 171)
• Industry-Based Considerations (p. 171)
• Resource-Based Considerations (p. 172)
• Rarity (p. 173)
• Imitability (p. 174)
• Organization (p. 174)
• Institution-Based Considerations (p. 175)
• Formation (p. 176)
• Stage 1 To Cooperate or Not to Cooperate? (p. 176)
• Stage 2 Contractual or Equity Modes? (p. 176)
• Stage 3 How to Position the Relationship? (p. 177)
• Strategy in Action 7.1 Delta Spreads Its Wings Globally (p. 178)
• Evolution (p. 178)
• Combating Opportunism (p. 178)
• Evolving from Strong Ties to Weak Ties (p. 179)
• From Corporate Marriage to Divorce (p. 180)
• Strategy in Action 7.2 Yum Brands, McDonald's, and Sinopec (p. 181)
• Performance (p. 182)
• The Performance of Strategic Alliances and Networks (p. 182)
• The Performance of Parent Firms (p. 183)
• Debates and Extensions (p. 184)
• Debate 1 Majority JVs as Control Mechanisms versus Minority JVs as Real Options (p. 184)
• Debate 2 Alliances versus Acquisitions (p. 184)
• Debate 3 Acquiring versus Not Acquiring Alliance Partners (p. 185)
• Strategy in Action 7.3 Renaussanbishi: No Way! (p. 186)
• The Savvy Strategist (p. 187)
• Chapter Summary (p. 188)
• Key Terms (p. 188)
• Critical Discussion Questions (p. 189)
• Topics For Expanded Projects (p. 189)
• Closing Case: Fiat Chrysler: From Alliance to Acquisition (p. 189)
• Notes (p. 190)
• Chapter 8 Managing Competitive Dynamics (p. 194)
• Opening Case: Jetstar's Rise in the Asia Pacific (p. 195)
• Strategy as Action (p. 196)
• Industry-Based Considerations (p. 198)
• Collusion and Prisoner's Dilemma (p. 198)
• Industry Characteristics and Collusion vis-à-vis Competition (p. 198)
• Strategy in Action 8.1 The Global Vitamin Cartel (p. 200)
• Resource-Based Considerations (p. 201)
• Value (p. 201)
• Rarity (p. 202)
• Instability (p. 202)
• Organization (p. 202)
• Resource Similarity (p. 202)
• Competitor Analysis (p. 202)
• Strategy in Action 8.2 Alibaba versus Amazon (p. 204)
• Institution-Based Considerations (p. 205)
• Formal Institutions Governing Domestic Competition: A Focus on Antitrust (p. 205)
• Formal Institutions Governing International Competition: A Focus on Antidumping (p. 207)
• Attack and Counterattack (p. 208)
• Three Main Types of Attack (p. 208)
• Awareness, Motivation, and Capability (p. 210)
• Cooperation and Signaling (p. 211)
• Debates and Extensions (p. 211)
• Debate 1 Strategy versus Antitrust Policy (p. 211)
• Debate 2 Competition versus Antidumping (p. 213)
• Strategy in Action 8.3 Brussels versus Google (p. 214)
• The Savvy Strategist (p. 215)
• Chapter Summary (p. 216)
• Key Terms (p. 216)
• Critical Discussion Questions (p. 217)
• Topics for Extended Projects (p. 217)
• Closing Case: Is There an Antitrust Case Against Big Tech? (p. 217)
• Notes (p. 219)
• Part 3 Corporate-Level Strategies
• Chapter 9 Diversifying and Managing Acquisitions Globally (p. 224)
• Opening Case: The Growth of Marriott International (p. 225)
• Product Diversification (p. 227)
• Product-Related Diversification (p. 227)
• Product-Unrelated Diversification (p. 227)
• Strategy in Action 9.1 Starbucks Diversifies into Tea (p. 227)
• Product Diversification and Firm Performance (p. 228)
• Geographic Diversification (p. 229)
• Limited versus Extensive International Diversification (p. 229)
• Geographic Diversification and Firm Performance (p. 229)
• Combining Product and Geographic Diversification (p. 230)
• A Comprehensive Model of Diversification (p. 231)
• Industry-Based Considerations (p. 231)
• Resource-Based Considerations (p. 232)
• Institution-Based Considerations (p. 234)
• The Evolution of the Scope of the Firm (p. 235)
• Acquisitions (p. 238)
• Setting the Terms Straight (p. 238)
• Motives for Mergers and Acquisitions (p. 239)
• Performance of Mergers and Acquisitions (p. 240)
• Strategy in Action 9.2 GE-Alstom: A Deal Too Far? (p. 241)
• Strategy in Action 9.3 Can Mergers of Equals Work? (p. 242)
• Debates and Extensions (p. 243)
• Debate 1 Product Relatedness versus Other Forms of Relatedness (p. 243)
• Debate 2 Old-Line versus New-Age Conglomerates (p. 244)
• Debate 3 High Road versus Low Road in Integration (p. 245)
• Debate 4 Acquisitions versus Alliances (p. 246)
• The Savvy Strategist (p. 246)
• Chapter Summary (p. 248)
• Key Terms (p. 248)
• Critical Discussion Questions (p. 248)
• Topics for Expanded Projects (p. 249)
• Closing Case: Puzzles Behind Emerging Multinationals' Acquisitions (p. 249)
• Notes (p. 250)
• Chapter 10 Strategizing, Structuring, and Innovating Around the World (p. 254)
• Opening Case: Launching the McWrap (p. 255)
• Multinational Strategies and Structures (p. 256)
• Pressures for Cost Reduction and Local Responsiveness (p. 256)
• Four Strategic Choices (p. 257)
• Strategy in Action 10.1 KFC Leverages Artificial Intelligence in China (p. 259)
• Four Organizational Structures (p. 260)
• The Reciprocal Relationship between Multinational Strategy and Structure (p. 262)
• A Comprehensive Model of Multinational Strategy, Structure, and Innovation (p. 262)
• Industry-Based Considerations (p. 263)
• Resource-Based Considerations (p. 264)
• Institution-Based Considerations (p. 265)
• Strategy in Action 10.2 Canadian Apotex, Indian Production, and EU, UK, and US Regulations (p. 265)
• Strategy in Action 10.3 Moving Headquarters (p. 267)
• Worldwide Learning, Innovation, and Knowledge Management (p. 269)
• Knowledge Management (p. 269)
• Knowledge Management in Four Types of Multinational Enterprises (p. 269)
• Globalizing Research and Development (p. 271)
• Problems and Solutions in Knowledge Management (p. 272)
• Debates and Extensions (p. 273)
• Debate 1 Headquarters Control versus Subsidiary Initiative (p. 273)
• Debate 2 Customer-Focused Dimensions versus Integration, Responsiveness, and Learning (p. 273)
• The Savvy Strategist (p. 274)
• Chapter Summary (p. 275)
• Key Terms (p. 276)
• Critical Discussion Questions (p. 276)
• Topics for Expanded Projects (p. 276)
• Closing Case: Subsidiary Initiative at Schenck Shanghai Machinery (p. 277)
• Notes (p. 278)
• Chapter 11 Governing the Corporation Globally (p. 282)
• Opening Case: The Murdochs versus Minority Shareholders (p. 283)
• Owners (p. 284)
• Concentrated versus Diffused Ownership (p. 284)
• Family Ownership (p. 285)
• State Ownership (p. 285)
• Managers (p. 286)
• Principal-Agent Conflicts (p. 286)
• Principal-Principal Conflicts (p. 287)
• Board of Directors (p. 288)
• Board Compositionp (p. 288)
• Strategy in Action 11.1 The Debate about Independent Directors in China (p. 289)
• Leadership Structure (p. 290)
• Board Interlocks (p. 290)
• The Role of Boards of Directors (p. 290)
• Strategy in Action 11.2 Professor Michael Jensen as an Outside Director (p. 291)
• Directing Strategically (p. 291)
• Governance Mechanisms as a Package (p. 292)
• Internal (Voice-Based) Governance Mechanisms (p. 292)
• External (Exit-Based) Governance Mechanisms (p. 293)
• Internal Mechanisms + External Mechanisms = Governance Package (p. 294)
• A Global Perspective (p. 294)
• Strategy in Action 11.3 Global Competition in How to Best Govern Large Firms (p. 296)
• A Comprehensive Model of Corporate Governance (p. 297)
• Industry-Based Considerations (p. 297)
• Resource-Based Considerations (p. 298)
• Institution-Based Considerations (p. 298)
• Debates and Extensions (p. 300)
• Debate 1 Opportunistic Agents versus Managerial Stewards (p. 300)
• Debate 2 Global Convergence versus Divergence (p. 301)
• Debate 3 Value versus Stigma of Multiple Directorships (p. 301)
• Debate 4 State Ownership versus Private Ownership (p. 302)
• The Savvy Strategist (p. 304)
• Chapter Summary (p. 305)
• Key Terms (p. 305)
• Critical Discussion Questions (p. 306)
• Topics for Expanded Projects (p. 306)
• Closing Case: The Private Equity Challenge (p. 306)
• Notes (p. 308)
• Chapter 12 Strategizing on Corporate Social Responsibility (p. 314)
• Opening Case: Starbucks's Corporate Social Responsibility Journey (p. 315)
• A Stakeholder View of the Firm (p. 317)
• A Big Picture Perspective (p. 317)
• Strategy in Action 12.1 Global Warming and Arctic Boom (p. 318)
• Stakeholder Groups, Triple Bottom Line, and ESG (p. 319)
• A Fundamental Debate (p. 320)
• A Comprehensive Model of Corporate Social Responsibility (p. 322)
• Strategy in Action 12.2 Giants of the Sea (p. 323)
• Industry-Based Considerations (p. 323)
• Resource-Based Considerations (p. 325)
• Strategy in Action 12.3 Can McDonald's Set the Chickens Cage-Free? (p. 326)
• The CSR-Economic Performance Puzzle (p. 326)
• Institution-Based Considerations (p. 327)
• Debates and Extensions (p. 330)
• Debate 1 Reducing versus Contributing toward Income Inequality (p. 330)
• Debate 2 Domestic versus Overseas Social Responsibility (p. 331)
• Debate 3 Active versus Inactive CSR Engagement Overseas (p. 332)
• Debate 4 Race to the Bottom ("Pollution Haven") versus Race to the Top (p. 332)
• The Savvy Strategist (p. 333)
• Chapter Summary (p. 334)
• Key Terms (p. 335)
• Critical Discussion Questions (p. 335)
• Topics For Expanded Projects (p. 335)
• Closing Case: The Ebola Challenge (p. 336)
• Notes (p. 337)
• Part 4 Integrative Cases
• IC 1 The Consulting Industry (p. 342)
• IC 2 The Asia Pacific Airline Industry (p. 346)
• IC 3 LEGO's Secrets (p. 349)
• IC 4 BMW at 100 (p. 351)
• IC 5 Occidental Petroleum (Oxy): From Also-Ran to Segment Leader (p. 355)
• IC 6 Tesla's CEO Quits Presidential Councils (p. 360)
• IC 7 Legislation of Ride-Hailing in China (p. 362)
• IC 8 The Final Frontier of Outstanding to India (p. 367)
• IC 9 Volkswagen's Emissions Scandal (p. 372)
• IC 10 Private Military Companies (p. 375)
• IC 11 Snowsports Interactive: A Global Start-Up's Challenges (p. 379)
• IC 12 Business Jet Makers Eye China (p. 384)
• IC 13 Carlsberg in Russia (p. 386)
• IC 14 Enter North America by Bus (p. 388)
• IC 15 Etihad Airways' Alliance Networks (p. 390)
• IC 16 Jobek do Brasil's Joint Venture Challenges (p. 392)
• IC 17 Saudi Arabia in OPEC: Price Leader in a Cartel (p. 398)
• IC 18 AGRANA: From a Local Supplier to a Global Player (p. 402)
• IC 19 Nomura's Integration of Lehman Brothers (p. 407)
• IC 20 Cyberattack on TNT Express and Impact on Parent Company FedEx (p. 409)
• IC 21 Shanghai Disneyland (p. 414)
• IC 22 Samsung's Global Strategy Group (p. 417)
• IC 23 Corporate Governance the HP Way (p. 419)
• IC 24 When CSR Is Mandated by the Government in India (p. 422)
• IC 25 Wolf Wars (p. 424)
• Glossary (p. 426)
• Index of Names (p. 438)
• Index of Organizations (p. 451)
• Index of Subjects (p. 454)