Previous editor: Derek Channon, Imperial College London more explicit attention is given to 'competitive strategy' and 'competitive advantage'; the 'resource-based view' is treated fully, with recent developments around the 'knowledge- based view'; the 'new economy' is introduced, specifically eonomics of knowledge and information and the nature of network externalities. A new preface by the current editor, John McGee, acknowledges the signal contribution of Derek Channon and outlines the key current trends in the field of strategic management.