"Introducing students to the fundamental concepts and principles of strategy, it reflects current academic thinking and management practice, and gives students the tools they need to formulate and implement strategies that will enhance the performance of their organizations." Now in its fifth edition, the book has been thoroughly revised and updated to: feature additional material on the strategic planning processes within companies; reflect recent work in the areas of resources and capabilities, industry evolution, and global strategy and the multinational company; include revisions to the section on knowledge management to reflect the maturing of this field; provide a more integrated view of corporate scope, and the organization and management of the multi-business firm; and reconsider the shareholder value model, with more coverage of values and corporate social responsibility.