Strategic Management by Pearce and Robinson: A Review of the 11th Edition
Strategic management is a vital skill for any business leader who wants to achieve sustainable competitive advantage in a dynamic and complex environment. But how can one learn the concepts and tools of strategic management effectively
One of the most popular and comprehensive textbooks on this topic is Strategic Management: Formulation, Implementation, and Control by John Pearce and Richard Robinson. This book, now in its 11th edition, provides a balanced and rigorous coverage of the theory and practice of strategic management, with an emphasis on real-world applications and cases.
In this article, we will review some of the key features and benefits of this book, as well as some of the limitations and criticisms that have been raised by some reviewers and users.
Features and Benefits
Some of the features and benefits of Strategic Management by Pearce and Robinson are:
It covers all the essential topics of strategic management, such as external and internal analysis, strategy formulation, strategy implementation, strategy evaluation, and strategic control.
It adopts a practical and systematic approach to strategic management, using a unique pedagogical model that consists of three stages: vision and mission formulation, objective setting, and strategy selection.
It includes 30 cases that illustrate a variety of strategic issues and challenges faced by small and large firms, start-ups and industry leaders, global and domestic companies, and service, retail, manufacturing, technology, and diversified sectors.
It incorporates contemporary research and insights from scholars and practitioners in the field of strategic management, as well as relevant examples from current events and business news.
It offers a wealth of learning aids and resources for students and instructors, such as chapter summaries, key terms, review questions, exercises, online quizzes, PowerPoint slides, test banks, instructor's manual, case notes, video cases, etc.
Limitations and Criticisms
Some of the limitations and criticisms of Strategic Management by Pearce and Robinson are:
It is a very long and dense book, with 880 pages in the 11th edition. Some readers may find it difficult to read or retain all the information presented in the book.
It is a very expensive book, with a list price of $249.99 for the hardcover edition. Some students may not be able to afford or access this book easily.
It is a very traditional and conservative book, with a focus on rational planning and analytical tools. Some readers may find it lacking in creativity or innovation in terms of strategic thinking or action.
It is a very US-centric book, with most of the examples and cases drawn from American companies or contexts. Some readers may find it less relevant or applicable to other regions or cultures.
Strategic Management by Pearce and Robinson is a well-established and widely-used textbook on strategic management that offers a comprehensive and rigorous coverage of the theory and practice of this important discipline. However, it also has some drawbacks that may limit its appeal or suitability for some readers or situations. Therefore, potential users should carefully evaluate their needs and preferences before choosing this book as their primary source of learning or teaching strategic management. 248dff8e21