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This leading strategy text presents the complexities of strategic management through up-to-date scholarship and hands-on applications. Highly respected authors Charles Hill and Gareth Jones integrate cutting-edge research on topics including corporate performance, governance, strategic leadership, technology, and business ethics through both theory and cases. Based on real-world practices and current thinking in the field, this edition of Strategic Management features an increased emphasis on the concept of the "business model" as a way of framing the issues of competitive advantage. The high-quality case study program has been expanded to 18 cases covering small, medium, and large companies of varying backgrounds. Key Feature Expanded! The library of case studies now totals 18 and features small, medium, and large companies, both domestic and international. Cases originate from case clearing houses (such as Harvard Business School), frequently-published casebook contributors, and well-known Houghton Mifflin authors. Featured companies and industries include Boeing, Apple, Google, eBay, BBC, and Procter & Gamble. To emphasize the importance of ethical decision making in strategic management, we have included a new feature in the end matter of every chapter that introduces concept-specific ethical dilemmas that could develop in a real-world business setting. Outstanding pedagogical features include Opening Case Studies, Discussion Questions, and Closing Case Studies. Table of Contents 1. Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage. 2. External Analysis: The Identification of Opportunities and Threats. 3. Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability. 4. Building Competitive Advantage Through Functional-Level Strategy. 5. Building Competitive Advantage Through Business-Level Strategy. 6. Business-Level Strategy and the Industry Environment. 7. Strategy and Technology. 8. Strategy in the Global Environment. 9. Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing. 10. Corporate-Level Strategy: Formulating and Implementing Related and Unrelated Diversification. 11. Corporate Performance, Governance, and Business Ethics. 12. Implementing Strategy in Companies That Compete in a Single Industry. 13. Implementing Strategy in Companies That Compete Across Industries and Countries. Cases