In response to dramatic changes in the business environment--hypercompetition in many traditional industries, short product life cycles, and new competitors based in emerging nations--successful companies have responded by repositioning themselves in the global markets and building new layers of capability. The entrepreneurial leaders of these companies find ways to use corporate strengths to add value to the performance of their business units. 'To a surprising extent,' says Professor Joe Bower, a leading expert in the fields of corporate strategy and public policy, 'we see similar challenges met with a common range of tools across very different companies.'