The principal objectives of this book are to assist practicing managers in preparing to assume executive responsibilities and to introduce MBA and Executive MBA students to an executive perspective on strategic management. Organizational success crucially depends on having a superior strategy and effectively implementing it. Companies that outperform their rivals typically have a better grasp of what customers value, who their competitors are, and how they can create an enduring competitive advantage. Successful strategies reflect a solid grasp of relevant forces in the external and competitive environment, a clear strategic intent, and a deep understanding of a company's core competencies and assets. Generic strategies rarely propel a firm to a leadership position. Knowing where to go and finding carefully considered, creative ways of getting there are the hallmarks of successful strategy. Perhaps even more important to success is the ability to effectively implement a chosen strategy--marshaling the right resources and talent, creating a functional organizational structure, fostering a beneficial corporate culture and providing appropriate incentives.