This collection of Harvard Business Review articles provides managers with thoughts on how to make the critical, long-term decisions that determine business success. It draws from three decades of thinking and examines the competitive forces in industries and the ways firms can create and sustain competitive advantage. Special emphasis is placed on strategy as an integrating device which brings together and balances the key resources of a firm and positions the firm advantageously in its competitive environment. But what makes up an effective strategy? This volume offers insight and practical advice from the leaders in the field. They show how advantage can and should be extracted from many sources, from marketing and joint ventures to financial analysis. "Strategy" argues that strategic thinking is a way of life and that a thoughtful, well-planned strategy is now a prerequisite to success.