This leading strategy text presents the complexities of strategic management through up-to-date scholarship and hands-on applications. Authors Charles Hill and Gareth Jones--both highly regarded in the management field--integrate cutting-edge research, rising trends in strategy, and hot topics such as corporate performance, governance, strategic leadership, technology, and business ethics through both theory and cases. Most of the chapter-opening and chapter-closing cases are new, and the authors have either replaced or substantially revised all Strategy in Action boxes. The Seventh Edition also contains a new Running Case on Wal-Mart, introducing relevant aspects of the company's strategy and performance to reinforce the practical application of key concepts and to illustrate how successive chapter topics tie together. In addition to numerous examples and hands-on activities, several new technology resources support instructors and enhance the learning experience for students. This edition features a total of 35 high-quality cases covering small, medium, and large companies (domestic and international). Some of the companies and industries highlighted include Toyota, GM, Satellite Radio (XM vs. Sirius), the music industry, Staples, Charles Schwab, and Hewlett Packard. New! Web-based Micromatic Management Simulation Game offers a complete capstone business experience, challenging students to make business decisions they will face as managers. Designed for graduate- and undergraduate-level courses, Micromatic presents real-world scenarios from pricing and budgeting to sales and operations. With its easy-to-use interface and comprehensive customer service program, Micromatic provides a dynamic, competitive learning environment with superior technical support. New! The HMXChange Business Case Database allows instructors to assemble, maintain, and update casebooks from any computer with an Internet connection. The result is a printed casebook tailored to meet specific course goals. New! The Eduspace online learning tool pairs the widely recognized resources of Blackboard with quality, text-specific content from Houghton Mifflin. Eduspace makes it easy for instructors to create all or part of a course online. Auto-graded homework exercises, tests, tutorials, and supplemental study materials all come ready-to-use. New! Both the theory and case portions of the book now feature a four-color design to enhance student interest.