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This selection of papers from "Long Range Planning - The
International Journal of Strategic Management" examines the
evolution of competitive advantage over the past decade, setting
out areas of major change and areas which have been less subject to
change. It begins by examining how strategic management has been
influenced by the transformation of industries and the changes in
the rules for success, and the dramatic rise in the strategic
importance of information technology. In many industries, the
established rules of the game no longer apply, and their continued
use will most likely lead to failure, even for firms which appear
to have unassailable positions of strength. It is not that
strategic planning has failed, but rather that in a previous era of
greater certainty and clearer boundaries, the unquestioning
application of established strategic rules often worked. In the new
era of competitive uncertainty and uncertain boundaries, many of
the rules of strategy still apply, but they can only have utility
when applied in an appropriate context. The book concludes that
when clarity exists about business definition, industry definition
and competitor definition and how strategic techniques or measures
should be applied, then the strategic fundamentals which have
obtained for many years are likely to continue to do so.
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