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Strategic Management: Competitiveness and Globalization, 5th edition provides the most modern, relevant, and complete presentation of strategic management today. Authors Michael A. Hitt, R. Duane Ireland, and Robert E. Hoskisson thoroughly revise each chapter, incorporating cutting-edge along with current examples, research and findings to accurately portray today's global business environment demonstrating how the strategic management process is being applied by modern organizations. The authors integrate the traditional industrial organizational model of strategic management with the more modern resource-based view of the firm to explain how firms build a sustained competitive advantage.