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They typically focus on a particular aspect of the firm such as its culture, resources, leadership, ability to learn, human resources practices, or communications systems. Often the very firms that are used as examples of high performance are no longer high performing even a few years later.  In contrast, this book asserts that it is the efficiency and effectiveness of a firm’s entire value creating system that determines its performance over the long term. Systems theory is used as an integrative mechanism to combine the best ideas from industrial organization economics, the resource-based perspective, and stakeholder theory.  Based on this theoretical foundation, tools are provided for conducting in-depth, detailed analyses of each part of a firm’s value creation system and its effectiveness in contributing to the total stakeholder value created by the firm. Systems assessment based on this information then leads to the development of strategies, including specific initiatives for overcoming weaknesses in the system and for creating new value for stakeholders. The book also provides guidance for developing detailed plans and a strategic control system to make sure strategies and initiatives are implemented. An underlying theme is that the purpose of a firm is to create value for its stakeholders: customers, employees, shareholders, suppliers, and the communities in which the firm operates. 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Harrison\/St. John's FOUNDATIONS IN STRATEGIC MANAGEMENT, Sixth Edition, addresses the most recent changes in today's business environment, including many topics that other strategic management texts often miss. The book thoroughly addresses the traditional economic process model and the resource-based model, as well as the stakeholder theory. This valuable text builds on a traditional theoretical foundation by using engaging examples from many of today's leading firms to demonstrate principles and applications. This edition continues to highlight strategizing in the global arena as well as more focused coverage of stakeholder management. This brief, well-rounded text functions as an indispensable resource for your immediate and long-term success in strategic management. 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