,Essentials of
Strategic
Management
The Quest for Competitive
Advantage
Dartmouth College
The University of Alabama
,ESSENTIALSWOFWSTRATEGICWMANAGEMENT
PublishedWbyWMcGraw-
HillWEducation,W2WPennWPlaza,WNewWYork,WNYW10121.WCopyrightW©W2021WbyWMcGraw-
HillW Education.WAllWrightsWreserved.WPrintedWinWtheWUnitedWStatesWofWAmerica.WNoWpartWofWthisWpublica
tionWmayWbeW reproducedWorWdistributedWinWanyWformWorWbyWanyWmeans,WorWstoredWinWaWdatabaseWorWre
trievalWsystem,WwithoutWtheW priorWwrittenWconsentWofWMcGraw-
HillWEducation,Wincluding,WbutWnotWlimitedWto,WinWanyWnetworkWorWotherWelectronicW storageWorWtransmissi
on,WorWbroadcastWforWdistanceWlearning.
SomeWancillaries,WincludingWelectronicWandWprintWcomponents,WmayWnotWbeWavailableWtoWcusto
mersW outsideWtheWUnitedWStates.
ThisWbookWisWprintedWonWacid-
freeWpaper.W 1W2W3W4W5W6W7W8W9W
LWIW24W23W22W21W20
ISBNW 978-1-260-57566-8
MHIDW 1-260-57566-7
CoverWImage:WhelloSG/Shutterstock
AllWcreditsWappearingWonWpageWorWatWtheWendWofWtheWbookWareWconsideredWtoWbeWanWextensionWofWtheWcopyrightWpage.
TheWInternetWaddressesWlistedWinWtheWtextWwereWaccurateWatWtheWtimeWofWpublication.WTheWinclusionWofWaW
websiteWdoesW notWindicateWanWendorsementWbyWtheWauthorsWorWMcGraw-HillWEducation,WandWMcGraw-
HillWEducationWdoesWnotW guaranteeWtheWaccuracyWofWtheWinformationWpresentedWatWtheseWsites.
, mheducation.com/highered
Strategic
Management
The Quest for Competitive
Advantage
Dartmouth College
The University of Alabama
,ESSENTIALSWOFWSTRATEGICWMANAGEMENT
PublishedWbyWMcGraw-
HillWEducation,W2WPennWPlaza,WNewWYork,WNYW10121.WCopyrightW©W2021WbyWMcGraw-
HillW Education.WAllWrightsWreserved.WPrintedWinWtheWUnitedWStatesWofWAmerica.WNoWpartWofWthisWpublica
tionWmayWbeW reproducedWorWdistributedWinWanyWformWorWbyWanyWmeans,WorWstoredWinWaWdatabaseWorWre
trievalWsystem,WwithoutWtheW priorWwrittenWconsentWofWMcGraw-
HillWEducation,Wincluding,WbutWnotWlimitedWto,WinWanyWnetworkWorWotherWelectronicW storageWorWtransmissi
on,WorWbroadcastWforWdistanceWlearning.
SomeWancillaries,WincludingWelectronicWandWprintWcomponents,WmayWnotWbeWavailableWtoWcusto
mersW outsideWtheWUnitedWStates.
ThisWbookWisWprintedWonWacid-
freeWpaper.W 1W2W3W4W5W6W7W8W9W
LWIW24W23W22W21W20
ISBNW 978-1-260-57566-8
MHIDW 1-260-57566-7
CoverWImage:WhelloSG/Shutterstock
AllWcreditsWappearingWonWpageWorWatWtheWendWofWtheWbookWareWconsideredWtoWbeWanWextensionWofWtheWcopyrightWpage.
TheWInternetWaddressesWlistedWinWtheWtextWwereWaccurateWatWtheWtimeWofWpublication.WTheWinclusionWofWaW
websiteWdoesW notWindicateWanWendorsementWbyWtheWauthorsWorWMcGraw-HillWEducation,WandWMcGraw-
HillWEducationWdoesWnotW guaranteeWtheWaccuracyWofWtheWinformationWpresentedWatWtheseWsites.
, mheducation.com/highered