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Hamel and Prahalad (coauthors of Harvard Business Review) develop judicious, provocative managerial theses in this sophisticated work. Rejecting recent downsizing and reengineering trends, they present their blueprint for transforming an industry's structure, which, they stress, is the primary challenge facing today's managers. They urge companies to create their own futures, envision new markets, and reinvent themselves; they caution that complacent managers who get too comfortable in doing things the way they've always done will see their companies fall behind; and they argue that business leaders need to be more than "maintenance engineers," worrying only about budget cutting, streamlining, re-engineering, and other old tactics.
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