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.
This volume provides a collection of papers at the cutting edge of competitive strategy, analyzing and assessing the role and value of strategic moves and groups in industry. Theoretical models are supplemented by empirical studies on the dynamics of competitive moves and the link between strategic
groups and performance. Linking commentaries and extensive reviews of research issues make this a comprehensive survey of the subject. The book will be of value to corporate strategists, consultants, senior managers, as well as academics concerned with research into competitive strategy.