In this course, we will develop a broad approach for evaluating the prospects for firm profits. We will look at many firms across a broad range of markets. We will spend some time on managerial and behavioral issues and/or institutional details – but keep in mind that the more granular we get, the more the information applies only in restrictive scenarios. We will derive the principles we apply mainly from microeconomic theory. As such, potential answers to questions posed in class will be subjected to the rigor of economic analysis to test their validity and applicability. It is important to recognize upfront that strategy is “messy” throughout. A clean linear approach would deliver the false promise that this material works like a tool. This material is a lens that improves your analytical reasoning skills – you will be able to describe business situations in a more comprehensive, logical, and structured way. Strategic analysis is ambiguous, and to present it any other way is disingenuous.