In this lesson, students learn how businesses use advertising to influence the choices consumers make. Using magazines, students see that advertisements use a combination of facts and opinions to influence tastes and preferences. Students also listen to a story about a Korean-American family that owns a food cart. They learn how the business changes as a result of competition and how business owners can influence consumers’ tastes and preferences. Working in groups, students create print advertisements for the food cart in the book to see firsthand how advertisements can influence consumers’ choices through tastes and preferences.

Insurance: Protecting Yourself from Damage is the sixth video in the Federal Reserve Bank of St. Louis series, "No-Frills Money Skills." This episode begins with examples of activities with varying amounts of risk and introduces insurance, explaining how it is used to transfer or reduce risk. With a story about a homeowner, students learn several key insurance related concepts and terms. The content for these videos was reviewed by members of the Missouri Insurance Education Foundation.

International Finance Theory and Policy is built on Steve Suranovic's belief that to understand the international economy, students need to learn how economic models are applied to real world problems. It is true what they say, that ”economists do it with models.“ That's because economic models provide insights about the world that are simply not obtainable solely by discussion of the issues.

Strong is usually preferred over "weak." But for the value of a country's currency, it's not that simple. "Strong" isn't always better, and "weak" isn't always worse. Learn more about foreign exchange rates in the March 2015 newsletter—"Is a Strong Dollar Better than a Weak Dollar?"

It's Your Paycheck! is designed to introduce personal finance content. Course participants learn about a variety of personal finance topics including the link between education and income, budgeting, the benefits of saving, and credit reports. These learning modules will help participants make sense of W-2s, W-4s, pay -day Loans and APRs in an interactive online format. It's Your Paycheck! consists of nine individual programs that can be used together or individually to enhance personal finance learning.

In this lesson, students learn about saving, savings goals, and income. They listen to the book Just Saving My Money by Mercer Mayer, a story about how Little Critter saves his money to buy a skateboard. Students use clues in the book's text and pictures to answer questions. After listening to the story, students play a game where they each have a savings goal, earn income, and save money until that savings goal is met. Students write math sentences to determine whether they have saved enough to reach their goals. Students also set their own savings goals and tell how they could earn income to meet them.

Students learn about saving, savings goals, interest, borrowing and opportunity cost by reading Less Than Zero. Students use a number line and a line graph to track spending and borrowing in the story.

Have you ever heard someone say "Back in my day, a gallon of gas cost a quarter!" Comparing today's prices with prices "back in the day" can be misleading. Both inflation and deflation between then and now have to be taken into account. Read the August 2013 issue to learn more about the effects of inflation on prices.

The Panic of 1907 was a financial crisis set off by a series of bad banking decisions and a frenzy of withdrawals caused by public distrust of the banking system. J.P. Morgan and other wealthy Wall Street bankers lent their own funds to save the country from a severe financial crisis. But what happens when a single man or small group of men have the power to control the finances of a country? In this lesson, students will learn about the Panic of 1907 and the measures Morgan used to finance and save the major banks and trust companies. Students will also practice close reading to analyze texts from the Pujo hearings, newspapers, and reactionary articles to develop an evidence-based argument about whether or not a money trust—a Morgan-led cartel—existed.

Personal Finance by Rachel Siegel and Carol Yacht is a comprehensive Personal Finance text which includes a wide range of pedagogical aids to keep students engaged and instructors on track.

This book is arranged by learning objectives. The headings, summaries, reviews, and problems all link together via the learning objectives. This helps instructors to teach what they want, and to assign the problems that correspond to the learning objectives covered in class.

Personal Finance includes personal finance planning problems with links to solutions, and personal application exercises, with links to their associated worksheet(s) or spreadsheet(s). In addition, the text boasts a large number of links to videos, podcasts, experts' tips or blogs, and magazine articles to illustrate the practical applications for concepts covered in the text.

Mountain Men Social Studies Lesson 5 The Price is Right! is designed to be used with Mountain Man Artifact Kit. Lessons 1, 2, 3, 4, 5 and 7 can be completed without the artifacts from the kit. These kits are available through Musuems of Western Colorado to D51 Teachers. This lesson can be adapted to use without the kit. Students will be able to: • understand the exchange of goods between trappers and traders by solving mathematical problems.

Make your own piggy bank out of an empty plastic bottle. Colorado Americorp agents in Araphahoe, Denver, Garfield, Larimer, and Weld Counties. Work supported by the Corporation for National and Community Service under Americorps grant number 18AFHCO0010008. Opinions or points of view expressed in this lesson are those of the authors and do not necessarily represent the official position of or a position that is endorsed by the Corporation or the Americorps program. This resource is also available in Spanish in the linked file.

Growing up means making big decisions, and decisions about college are among the most important. The second episode of the Continuing Feducation Video Series, Saving for College, follows high school student Martina as she learns about the basics: investing in human capital, factors to consider when choosing a college, and ways to fund higher education.

What skills do you need to develop for future success? Academics for sure, but soft skills are also important. Learn more about soft skills, the labor force, and unemployment in the May 2016 issue of Page One Economics: Focus on Finance.

Strategic Management (2020) is a 343-page open educational resource designed as an introduction to the key topics and themes of strategic management. The open textbook is intended for a senior capstone course in an undergraduate business program and suitable for a wide range of undergraduate business students including those majoring in marketing, management, business administration, accounting, finance, real estate, business information technology, and hospitality and tourism. The text presents examples of familiar companies and personalities to illustrate the different strategies used by today’s firms and how they go about implementing those strategies. It includes case studies, end of section key takeaways, exercises, and links to external videos, and an end-of-book glossary. The text is ideal for courses which focus on how organizations operate at the strategic level to be successful. Students will learn how to conduct case analyses, measure organizational performance, and conduct external and internal analyses.

If you are an instructor reviewing, adopting, or adapting this textbook, please help us understand your use by filling out this form http://bit.ly/strategy-interest

How to Access this Book This text is available in multiple formats including PDF, a low-resolution PDF which is faster to download, Open Document Format (ODT), and ePub. It is also available online in Pressbooks at https://pressbooks.lib.vt.edu/strategicmanagement. Softcover print on demand options are available in color interior (https://www.amazon.com/dp/1949373940) or black & white interior (https://www.amazon.com/dp/1949373894). The main landing page for this book is: https://doi.org/10.21061/strategicmanagement.

Attribution This textbook was adapted for use in Virginia Tech’s Pamplin College of Business capstone course, MGT 4394 Strategic Management, and is shared under a Creative Commons Non-Commercial ShareAlike 3.0 license. It is adapted without attribution to the original 2010 author or publisher at their request. It is adapted from Mastering Strategic Management which was published by the University of Minnesota Publishing in 2015 as an adaptation of the 2010 version. University of Minnesota Publishing reformatted the original text, and replaced some images and figures to make the resulting whole more shareable but did not otherwise significantly alter or update the original 2010 text.

Powerpoint slides are available at http://hdl.handle.net/10919/102735
A testbank only for instructors is also available at http://hdl.handle.net/10919/104179

Instructor Resource Portal in OER Commons
https://www.oercommons.org/groups/strategic-management-instructor-group/5209

Table of Contents
Chapter 1: Mastering Strategy: Art and Science
Chapter 2: Assessing Organizational Performance
Chapter 3: Evaluating the External Environment
Chapter 4: Evaluating the Internal Environment
Chapter 5: Synthesis of Strategic Issues and Analysis
Chapter 6: Selecting Business-Level Strategies
Chapter 7: Innovation Strategies
Chapter 8: Selecting Corporate-Level Strategies
Chapter 9: Competing in International Markets
Chapter 10: Executing Strategy through Organizational Design
Chapter 11: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility
About the Author / Editorial and Production Teams
Version Notes
Glossary

This work is published by Virginia Tech’s Pamplin College of Business in association with Virginia Tech Publishing.

Suggested Citation Kennedy, Reed. (2020) Strategic Management. Blacksburg, VA: Virginia Tech Publishing. https://doi.org/10.21061/strategicmanagement CC BY NC-SA 3.0

Contributors
About the Previous Author
The publisher of the 2010 version of this book requested that they and the original author not receive attribution.

This Version
Primary Contributor: Reed B. Kennedy
Reviewer / Contributors: Eli Jamison, Joseph Simpson, Pankaj Kumar, Ayenda Kemp, Kiran Awate, and Kathleen Manning
Cover Design, Illustration, and Alternative Text; Student Reviewer: Kindred Grey
Research and Editorial Assistant; Student Reviewer: Kathleen Manning
Managing Editor: Anita Walz
Production Editor: Robert Browder
Copyeditors: Grace Baggett, Lauren Holt

ISBN 978-1-949373-94-3 (print-color)
ISBN 978-1-949373-89-9 (print-black & white)
ISBN 978-1-949373-96-7 (ebook-PDF)
ISBN 978-1-949373-95-0 (ebook-Pressbooks)
https://pressbooks.lib.vt.edu/strategicmanagement
DOI: https://doi.org/10.21061/strategicmanagement

Accessibility Virginia Tech Publishing is committed to making its publications accessible in accordance with the Americans with Disabilities Act of 1990. The HTML and screen reader–friendly PDF versions of this book utilize header structures and include alternative text which allow for machine-readability.

Willow Tufano is only 14, but she's already accomplished something many adults dream of. She's a homeowner! She got her start selling things she found on Craigslist and worked her way up to being able to buy a house! Watch her story here.

The testbank includes 377 peer-reviewed, multiple-choice questions which correspond to topics taught in introductory-level business open textbook, "Fundamentals of Business." "Fundamentals of Business" is a freely available, openly licensed resource available at: http://hdl.handle.net/10919/84848 .

Between 11-29 multiple-choice items are available for each of the following topics: Teamwork in Business, Foundations of Business, Economics and Business, Ethics and Social Responsibility, Business in a Global Environment, Forms of Business Ownership, Entrepreneurship: Starting a Business, Management and Leadership, Structuring Organizations, Operations Management, Motivating Employees, Managing Human Resources, Union/Management Issues, Marketing: Providing Value to Customers, Pricing Strategy, Hospitality and Tourism, Accounting and Financial Information, and Personal Finances.

The testbank is available to any instructor who has adopted Fundamentals of Business in their course. Please complete the four steps listed at http://hdl.handle.net/10919/93404 to request access to the testbank.

1. View and test the "sample" files at http://hdl.handle.net/10919/93404 in the left hand column to determine which format works best for you. Additional information about each format type is available below under FORMATS.
2. Indicate requested files by clicking on any of the testbank files at http://hdl.handle.net/10919/93404 on the left (marked "permission required") add a note and press submit to request access.
3. Email a copy of the course syllabus to openeducation@vt.edu
4. Complete and submit the User Verification Process Form https://forms.gle/ueaihc96LgNrE9uf9. You will receive a copy of your request via email.

Requested files will be released via email when steps two through four have been completed and reviewed. Note that access approvals are processed only during regular business hours.

Please visit: http://hdl.handle.net/10919/93404 for Terms of Use, license information, and to view or report errata.

SAMPLE QUESTIONS
Sample questions are available for those who wish to test various formats and assess the suitability of the testbank as part of their course material adoption decision-making process. Sample questions are provided in the same formats (XLS, Canvas IMS QTI 1.1.3, XML QTI, and Blackboard formats) as the permission-only testbank files. Sample questions have been removed from the electronically secure testbank.

FORMATS
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Distribution
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The testbank and testbank items are provided "as is." Users of this resource assume all risks and further agree to hold Virginia Tech, the Commonwealth of Virginia and their employees and agents, and project contributors harmless from any and all actions related to use of this program.