and resource-based sustainability as central integrating concepts, it also draws on the twin "strategic imperatives" of value creation and opportunity recognition as recurrent themes that help to synch ideas from cover to cover. Examples from strategy development in highly competitive environments illustrate how traditional theoretical principles and analytical frameworks apply to today's dynamic business climate. Grounded in contemporary strategic management theory, the book also exhibits a very practical approach. An early chapter is devoted exclusively to the key question of Strategy and Performance, which enables richer classroom discussions moving forward. Other chapters provide step-by-step guidance on actually putting strategy frameworks to use (e.g., how to conduct an industry analysis, how to do a resource analysis, how to conduct a value chain analysis) along with clear examples for each. Classroom-tested and peer-reviewed, the author employs an engaging writing style that appeals to students and instructors alike. This 6th edition introduces a major new section on Managing Innovation, a new analytical enhancement to Industry Analysis that sharpens student conclusions, expanded examples and illustrations of Value Chain and of Mergers and Acquisitions, and of course the most current company data of any strategy text introduced this year.

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