'Readers interest in an overview of important aspects of the strategy field will find this book a helpful volume to add to their shelves' - Administrative Sciences Quarterly This is a new overview of the strategy field, with internationally renowned contributors summarizing the latest directions and developments in strategic management theory in the context of their theoretical roots in economics, organization theory, and systems theory. The contributors outline the most promising new directions on the basis of a systemic treatment of paradigms or schools of thought in strategy: redrawing firm boundaries, developing dynamic capabilities and discovering viable strategy configurations. The volume will be an invaluable companion to advanced courses in strategy and management, used as a reader alongside case material and field studies. As well as providing a summary and evaluation of the different schools of thought in strategy, the volume offers a synthesis of the American and European approaches.