I Understanding Strategic Management 1
A Strategic Management 2
1. What is Strategic Management? 2
2. Key Steps in Business Strategy 2
3. Key Questions When Developing a Business Strategy 4
4. Changes in the Concept of Business Strategy 4
B The Two Pillars of Business Strategy: Business-Level and Corporate-Level Strategy 8
1. Business-Level Strategy 8
2. Corporate-Level Strategy 10
C Stages of Strategic Management 14
1. Strategic Management Formulation 14
2. Strategic Management Implementation 16
3. Strategic Management Evaluation 16
D Vision and Mission 18
1. Vision - What do we want to become? 18
2. Mission - What is our business? 18
3. Comparison of Vision and Mission 20
E Setting Strategic Goals 22
1. What Are Strategic Goals? 22
2. SMART Goal Criteria 22
F Summary and Key terms 24
G Individual Workshop 26
1. Planning My Semester - Setting SMART Strategic Goals 26
2. SMART Strategic Goal Setting Template Example 28

II External Environment Analysis 31
A What is External Environment Analysis? 32
1. Definition of External Environment Analysis 32
2. Importance of External Environment Analysis 32
B Methods of External Environment Analysis 36
1. PESTEL Analysis 36
2. Case Study: PESTEL Analysis _ SK Group 40
3. Industry Structure Analysis: Porter’s Five Forces 42
C Key Sources and Uses of External Research Information 50
D Summary and Key Terms 54
E Team Workshop 56
1. Topic: Practicing PESTEL Analysis for Local Industries 56
2. PESTEL Template Example - Low-Cost Coffee Franchise 56

III Internal Environment Analysis 61
A What is Internal Environment Analysis? 62
B Business Resources, Capabilities, Core Competencies, and Competitive Advantage 64
1. Business Resources 64
2. Capabilities 66
3. Core Competencies 68
4. Competitive Advantage 68
C VRIO Framework 72
1. What is VRIO? 72
2. Case Study: VRIO Analysis _ Coupang 74
D Value Chain Analysis 80
1. What is Value Chain Analysis? 80
2. Primary Activities 82
3. Support Activities 84
4. Case Study: Value Chain Analysis _ CJ ENM 84
E Summary and Key Terms 90
F Team Workshop 92
1. Company Comparison - Who Performs Better? 92
2. VRIO Analysis Template Example: Starbucks vs A Twosome Place 94

IV Business-Level Strategy 99
A What Is Business-Level Strategy? 100
B Cost Leadership Strategy 102
1. Sources of Cost leadership 102
2. Advantages of a Cost Leadership Strategy 104
3. Case Study: Cost Leadership Strategy _ Daiso 108
C Differentiation Strategy 112
1. Ways to Differentiate 112
2. Creativity in Differentiation 114
3. Differentiation and Sustainable Competitive Advantage 116
4. Case Study: Differentiation Strategy _ BTS 116
D Comparison: Cost Leadership Strategy vs. Differentiation Strategy 122
E Summary and Key Terms 124
F Individual Workshop 126
1. A Product I Chose for a Reason Other Than Price 126
2. Differentiation Strategy Template Example - IKEA DIY Furniture 126

V Team Project 1 129
A Topic: Building a Startup Strategy - From Mission to Competitive Advantage 130
B Purpose 130
C Activity Steps 132
1. Step 1 - Sample Mission Statement 132
2. Step 2 - PESTEL External Environment Analysis Example 134
3. Step 3 - Internal Environment Analysis (VRIO Example) 134
4. Step 4 - Business Strategy Planning Example 136

VI Corporate-Level Strategy 1 139
A Corporate-Level Strategy 140
B Diversification 142
1. What is Diversification? 142
2. Types of Diversification 142
3. Purpose of Diversification 144
4. Risks and Limitations of Diversification 146
5. Case Study: Related Diversification _ Amorepacific Group 148
6. Case Study: Unrelated Diversification _ CJ Group 150
C Vertical Integration 152
1. The definition of Vertical Integration 152
2. Types of Vertical Integration 152
3. Advantages of Vertical Integration 154
4. Disadvantages of Vertical Integration 154
5. Case Study: Vertical Integration _ Hyundai Motor Company 154
D Strategic Alliance 156
1. The definition of a Strategic Alliance 156
2. Advantages of Strategic Alliances 156
3. Case Study: Strategic Alliance _ Samsung Electronics and Google 156
E Summary and Key Terms 160
F Team Workshop 162
1. Topic: Analyzing Corporate Diversification Strategies 162
2. Diversification Template Example _ LG Electronics 162

VII Corporate-Level Strategy 2 167
A M&A 168
1. The definition of M&A (Mergers and Acquisitions) 168
2. Advantages and Disadvantages of M&A 168
3. Case Study: Kakao’s Acquisition of Melon 170
4. Case Study: LG Chem’s Merger of LG Life Sciences 170
B Outsourcing Strategy 172
1. Definition of an Outsourcing Strategy 172
2. Advantages of an Outsourcing Strategy 172
3. Disadvantages of an Outsourcing Strategy 174
4. Case Study: Outsourcing _ Nike 174
C Global Expansion Strategy 176
1. The definition of a Global Expansion Strategy 176
2. Global Expansion Strategy Methods 176
D BCG Matrix (Boston Consulting Group Matrix) 184
1. Four types of business units in the BCG Matrix 184
E Summary and Key Terms 188
F Team Workshop 190
1. Topic: Global Companies’ Global Expansion Strategies 190
2. Global Expansion Strategy Template Example - Samsung Galaxy in Latin America 192

VIII Business Strategy Implementation and Evaluation 195
A Business Strategy Implementation 196
B Key Success Factors for Strategy Implementation 198
1. Organizational Structure 198
2. Leadership 202
3. Organizational Culture 204
4. Resource Allocation 208
5. Performance Management 208
C Evaluating and Controlling Business Strategy 212
1. Key Performance Indicators (KPIs) 212
2. Balanced Scorecard 216
3. Feedback System 220
D Summary and Key Terms 222
E Team Workshop 224
1. Topic: Opening a Korean Restaurant in My Country - Creating My Own Strategy 224

IX Restructuring and Business Innovation 227
A Restructuring 228
1. Types of Restructuring 228
2. Case Study: Business Restructuring _ LG 232
B First-Mover and Follower Strategies 234
1. First-Mover Strategy 234
2. Follower Strategy 234
C Business Innovation 236
1. Innovation 236
2. Schumpeter’s Innovation Theory 236
3. Business Innovation 238
D Summary and Key Terms 242
E Team Workshop 244
1. Topic: Let’s Improve Where We Work 244
2. Restructuring Template Example 244

X Ethical Management, Corporate Social Responsibility and ESG 249
A Stakeholder Theory 250
1. Key Points of Stakeholder Theory 250
B Ethical Management 252
1. Key Areas of Ethical Management 252
C Corporate Social Responsibility (CSR) 254
D ESG 256
1. Components of ESG 256
2. The Importance of ESG 258
3. Case Study: ESG Management - Donggubat 258
E Ethical Management, CSR, and ESG - Commonalities and Characteristics 260
1. Ethical Management, Corporate Social Responsibility (CSR), and ESG 260
2. Case Study: Ethical Management, CSR, and ESG _ The Patagonia 262
F Summary and Key Terms 268
G Team Workshop 270
1. Topic: Analyzing Companies with Strong ESG Practices 270
2. ESG Management Template Example - Patagonia 270

XI Team Project 2 275
A Topic: Creating an ESG Strategy for Our Company 276
B Purpose 276
C Activity Steps 278
1. Step 1 - Startup Review 278
2. Step 2 - ESG Strategy Planning 280
차례

I 경영전략의 이해 1
A 경영전략이란 무엇인가 3
1. 경영전략의 정의············································································3
2. 경영전략의 핵심 단계······································································3
3. 경영전략을 세울 때 생각하는 질문들····················································5
4. 경영전략 개념의 변화······································································5
B 경영전략의 두 축: 사업부 수준 전략과 기업 수준 전략 9
1. 사업부 수준 전략 ··········································································9
2. 기업 수준 전략 ··········································································· 11
C 경영전략 단계 15
1. 경영전략 수립 ············································································ 15
2. 경영전략 실행············································································· 17
3. 경영전략 평가············································································· 17
D 비전과 사명 19
1. 비전_우리는 무엇이 되고 싶은가?····················································· 19
2. 사명_우리의 사업은 무엇인가?························································ 19
3. 비전과 사명 비교········································································· 21
E 전략적 목표 설정 23
1. 전략적 목표················································································ 23
2. SMART 목표 기준 ······································································ 23
F 요약 및 주요 용어 25
G 개별 워크숍: SMART 전략 목표 설정하기 27
1. 주제: SMART 전략 목표 설정하기_이번 학기 계획 세우기 ······················ 27
2. SMART 전략 목표 설정 템플릿 예시················································· 29

II 외부 환경 분석 31
A 외부 환경 분석이란 무엇인가 33
1. 외부 환경 분석 정의······································································ 33
2. 외부 환경 분석의 중요성································································ 33
B 외부 환경 분석 방법 37
1. PESTEL 분석············································································· 37
2. PESTEL 분석 사례_SK 그룹··························································· 41
3. 산업구조 분석: 포터의 5가지 경쟁 요인·············································· 43
C 외부 조사 정보의 주요 출처 및 활용 51
D 요약 및 주요 용어 55
E 팀 워크숍 57
1. 주제: 우리 주변 산업의 PESTEL 분석 ··············································· 57
2. PESTEL 템플릿 예시_저가 커피 프랜차이즈········································ 57

III 내부 환경 분석 61
A 내부 환경 분석이란 무엇인가 63
B 경영자원, 역량, 핵심역량, 경쟁우위 65
1. 경영자원 ·················································································· 65
2. 역량························································································· 67
3. 핵심역량··················································································· 69
4. 경쟁우위··················································································· 69
C VRIO 분석 73
1. VRIO의 정의·············································································· 73
2. VRIO 분석 사례_쿠팡··································································· 75
D 가치사슬 분석 81
1. 가치사슬 분석의 정의···································································· 81
2. 주활동······················································································ 83
3. 보조활동··················································································· 85
4. 가치사슬 분석 사례-CJ ENM························································· 85
E 요약 및 주요 용어 91
F 팀 워크숍 93
1. 주제: 기업 비교 분석: 누가 더 잘하는가?············································ 93
2. VRIO 분석 템플릿 예시: 스타벅스 VS 투썸플레이스······························ 95

IV 사업부 수준의 전략 99
A 사업부 수준의 전략이란 무엇인가 101
B 비용우위 전략 103
1. 비용우위 전략의 원천·································································· 103
2. 비용우위 전략의 장점·································································· 105
3. 비용우위 전략 사례_다이소··························································· 109
C 차별화 전략 113
1. 차별화하는 방법········································································ 113
2. 차별화의 창의성········································································ 115
3. 차별화와 지속적인 경쟁우위·························································· 117
4. 차별화 전략 사례_방탄소년단(BTS)················································ 117
D 비용우위 전략과 차별화 전략 비교 123
E 요약 및 주요 용어 125
F 개별 워크숍 127
1. 주제: 가격이 아닌 다른 이유로 내가 선택한 제품 ································ 127
2. 차별화 전략 템플릿 예시_IKEA 조립 가구········································· 127

V 팀 프로젝트 1 129
A 주제: 스타트업의 전략 수립: 사명부터 경쟁우위까지 131
B 목표 131
C 활동 구성 133
1. 1단계: 사명 선언문 작성 예시························································ 133
2. 2단계: PESTEL 외부 환경 분석 예시·············································· 135
3. 3단계: 내부 환경 분석 예시·························································· 135
4. 4단계: 사업부 수준 전략 수립 예시················································· 137

VI 기업 수준의 전략 1 139
A 기업 수준의 전략이란 무엇인가 141
B 다각화 143
1. 다각화의 정의··········································································· 143
2. 다각화의 유형··········································································· 143
3. 다각화의 목적··········································································· 145
4. 다각화의 위험과 한계·································································· 147
5. 관련 다각화 사례_아모레퍼시픽····················································· 149
6. 비관련 다각화 사례_CJ그룹·························································· 151
C 수직적 통합 153
1. 수직적 통합의 정의···································································· 153
2. 수직적 통합의 종류···································································· 153
3. 수직적 통합의 장점···································································· 155
4. 수직적 통합의 단점···································································· 155
5. 수직적 통합 사례_현대자동차························································ 155
D 전략적 제휴 157
1. 전략적 제휴의 정의···································································· 157
2. 전략적 제휴의 장점···································································· 157
3. 전략적 제휴 사례_삼성전자와 구글·················································· 157
E 요약 및 주요 용어 161
F 팀 워크숍 163
1. 주제: 기업 다각화 전략 분석 ························································· 163
2. 기업 다각화 템플릿 예시_LG 전자·················································· 163

VII 기업 수준의 전략 2 167
A 인수합병 169
1. 인수합병의 정의········································································ 169
2. 인수합병의 장·단점···································································· 169
3. 인수 사례_카카오와 멜론····························································· 171
4. 합병 사례_LG화학과 LG생명과학··················································· 171
B 아웃소싱 전략 173
1. 아웃소싱 전략의 정의·································································· 173
2. 아웃소싱 전략의 장점·································································· 173
3. 아웃소싱 전략의 단점·································································· 175
4. 아웃소싱 전략 사례_나이키··························································· 175
C 해외 진출전략 177
1. 해외 진출전략의 정의·································································· 177
2. 해외 진출전략 방법···································································· 177
D BCG 매트릭스(Boston Consulting Group Matrix) 185
1. 4가지 사업 유형········································································ 185
E 요약 및 주요 용어 189
F 팀 워크숍 191
1. 주제: 글로벌 기업의 해외진출 전략 ················································ 191
2. 해외 진출전략 템플릿 예시_삼성전자 갤럭시 남미 진출························· 193

VIII 경영전략 실행 및 평가 195
A 경영전략 실행 197
B 경영전략 실행의 성공 요인 199
1. 조직구조················································································· 199
2. 리더십···················································································· 203
3. 조직문화················································································· 205
4. 자원배분················································································· 209
5. 성과 관리················································································ 209
C 경영전략의 평가와 통제 213
1. 성과지표 (KPIs)········································································ 213
2. 균형성과표·············································································· 217
3. 피드백 체계·············································································· 221
D 요약 및 주요 용어 223
E 팀 워크숍 225
1. 주제: 내 나라에서 한국 음식점 열기: 나만의 전략 만들기 ······················ 225

IX 구조조정과 경영혁신 227
A 구조조정 229
1. 구조조정의 종류········································································ 229
2. 사업 구조조정 사례_LG전자 휴대폰 사업 철수···································· 233
B 선도자와 추격자 전략 235
1. 선도자 전략·············································································· 235
2. 추격자 전략 ············································································· 235
C 경영혁신 237
1. 혁신······················································································· 237
2. 슘페터의 혁신··········································································· 237
3. 경영혁신················································································· 239
D 요약 및 주요 용어 243
E 팀 워크숍 245
1. 주제: 내가 일하는 곳을 바꾸자······················································· 245
2. 구조조정 템플릿 예시·································································· 245

X 윤리적 경영과 기업의 사회적 책임, ESG 249
A 이해관계자 이론 251
1. 이해관계자 이론 핵심·································································· 251
B 윤리적 경영 253
1. 윤리적 경영의 주요 내용······························································ 253
C 기업의 사회적 책임 255
D ESG 257
1. ESG의 요소············································································· 257
2. ESG의 중요성·········································································· 259
3. ESG 경영 사례_동구밭································································ 259
E 윤리적 경영, 기업의 사회적 책임(CSR), ESG의 공통점과 특징 261
1. 윤리적 경영, 기업의 사회적 책임, ESG············································ 261
2. 윤리적 경영, 기업의 사회적 책임, ESG 사례_파타고니아······················· 263
F 요약 및 주요 용어 269
G 팀 워크숍 271
1. 주제: ESG 잘하는 기업 분석 ························································ 271
2. ESG 경영 템플릿 예시_파타고니아················································· 271

XI 팀 프로젝트 2 275
A 주제: 우리 기업의 ESG 경영 전략 수립 277
B 목표 277
C 활동 구성 279
1. 1단계: 스타트업 리뷰·································································· 279
2. 2단계: ESG 전략 및 활동 기획······················································ 281