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Description
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Not since Michael Porter’s Competitive Strategy has an economist captured the magic of strategy from an economic perspective. This book aims to do so, by building on a proven framework for analysis that has been embraced by business economists worldwide. In effect, it will bring Porter’s approach into the 21st century.
Students will learn how to create and sustain a profitable business with close adherence to the fundamentals of business strategy. Fortunately, most of business strategy can be boiled down to three simple rules:
1. Firms must create value for their customers.
2. Firms must capture that value for themselves.
3. Firms must control value, so that other firms do not steal it from them.
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