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Strategic Management 7e combines theory and practice in a novel integrative approach to the study of strategic management. For instructors it emphasizes the value chain and resource-based sustainability as central integrating strategy concepts. For students it draws on the twin "strategic imperatives" of value creation and opportunity recognition as recurrent themes that help to sync ideas from cover to cover. Examples from 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 7th edition introduces major new chapters on Managing Innovation and International Strategy, and new sections on Strategy During Crisis and on Predicting Competitive Moves. This text offers the most current company data of any strategy text introduced its copyright year.