Strategy has become an increasingly difficult task in light of rapid technological change and globalization trends during the last two decades. Corporate strategy focuses on the multi-business firm with competitive positions in a broad range of industries, geographical areas and value chain activities. Corporate strategy is, therefore, not only the domain of the chief executive officer or chief strategist. It is also the domain of marketing, finance, production, and human resource management which support and promote the firm's overall strategic direction. This major work deals with the theory on the management of the multibusiness or diversified firm. It focuses on corporate-level strategy issues such as the structural analysis of industries and the determinants of competition, models of portfolio analysis, determination of firm scale and scope, diversification and performance, vertical integration, global integration, structure and control, and organizational leadership. Volume 1 examines how organizations create competitive advantage at the corporate level. The focus is on value creation in multi-divisional firms and coordination of business activities across businesses and locations. Volume 2 examines the literature on firm scope, diversification and vertical integration. Volume 3 looks at growth and control in multi-divisional firms. It reviews literature on alternative modes of firm expansion and examines the issue of strategic change in organizations and implications of change for firm performance and the firm's stakeholders.