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This text has a rigorous approach to business strategy analysis and is particularly suitable for courses in business policy and business strategy. The guiding principle of the book is to focus upon the fundamental determinants of business success - competitive advantage - and it draws heavily upon the concepts and theoretical insights of industrial economics. This edition features increased coverage of the behavioural aspects of strategy, including the design of organization and management systems, the setting of performance targets and evaluation performance, and the strategic planning process in corporations. Also included is new material on: the process view; goals and performance; dynamic aspects of the analysis of industry and competition; organizational capability and organizational knowledge; strategy implementation; and strategic management in the new millennium. Providing a global perspective throughout, the book provides an up-to-date introduction to business strategy analysis for undergraduate and MBA students, and is accompanied by a comprehensive instructor's manual.