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Source Evaluation - Essay Example

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Even prefer to use Essentials of Strategic Management by Charles Hill and Gareth Jones, other books such as Strategic Management Theory: An…
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Source Evaluation

Download file to see previous pages... Essentials of Strategic Management is a comprehensive summary of the book Strategic Management: An Integrated Approach written by the same authors. The book follows a structure that is also used in the larger version in order to assist learners in the identification and the emphasis of key concepts in more concise and updated ways. The presentation of text in this book is founded on real world practices as well as contemporary thinking and features an increased importance on the concept of business models as a manner of perceiving the issues of competitive advantage. The book also features progressive research, a newer strategic management theory as well as a hand-on approach that allows the reader to explore the main themes in management such as corporate performance, technology as well as business ethics among others. Additionally, it also it also includes a high quality case program that examines companies of different sizes domestically and globally so that readers may achieve an experience as they put chapter concepts into practical events in a number of occurrences.
Charles Hill and Gareth Jones consider Wal-Mart’s business model as being based on purchasing goods from suppliers at the lowest rates possible and then reselling the same products to its customers at profitable prices that are as low as possible (120). The company has come up with strategies that have enabled it to position in a manner that keeps operating costs at the minimum in order to ensure that customers get the lowest prices on a daily basis with continuous price rollbacks. From inception, the company has been using strategies that increase its efficiency in various ways including ensuring low product differentiation as well as targeting mass markets. Wal-Mart’s business model that is based on discounts for its retail customers is founded on the idea that low costs will result in lower prices.
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