the purpose of the firm which is to

the purpose of the firm which is to create value satisfies the needs of its stake holders.

obligations to stockholders as a prerequisite to addressing the needs of other stakeholders.

a firm's need to create economic value as a means to fulfill its obligations to stockholders

the use of economic value added as a means for managing and managing how firms create economic value for their stockholders.

the role that competitive advantage plays in producing superior economic returns and consequently its place as the focus of strategic management

the three forms of competitive advantage, differentiation, cost leadership, and quick response, and some of the managerial issues involved in pursuing each

the architecture of strategy framework as an overview of subsequent in the remainder of this text