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This edition retains its emphasis on an exposition of the basic concepts, requiring no prior knowledge of company strategy. Considerable attention has been given to updating and adding to the company examples it uses. This reflects both the fact that demonstrating the power of strategic thinking to improve a company's performance comes through understanding real examples and that the strategic issues companies face change over time. Equally, the whole field of strategy through analysis has also changed and evolved and, building on the new case material in the text, this book illustrates the latest advances in theory. This practical book reflects the author's many years of experience in advising companies on their strategic needs. It is from these extensive contacts with so many managers facing real problems that the book has sprung. It remains a useful introduction to the subject and is suitable for courses in business schools and in major companies.