Success in business requires the firm to develop a strategy that creates a sustainable competitive advantage. This course presents a framework for analysing and thinking about how a firm can do this. The essence of the framework is that a firm needs to develop and manage its internal resources and capabilities in relation to its external environment. The course will explore the underlying principles of strategy formulation, including the analysis of industries and competition, and the appraisal of firms’ resources and capabilities, and will consider their application in different business contexts.