Combining quality and user-friendliness with rigor and relevance, Frank T. Rothaermel synthesizes theory, empirical research, and practical applications in a breakthrough new text designed to prepare students for the types of challenges they will face as managers in the globalized and turbulent business environment of the 21st century. This new textbook, written with a single, strong voice, weaves together classic and cutting-edge theory with in-chapter cases and strategy highlights, to teach students how companies gain and sustain competitive advantage.