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The tenth volume in the "Best of Long Range Planning Series" focuses on the role of shareholder value as a key tool to evaluating strategic options. Within limits, the concept has an essential part to play in strategic management. However, the authors argue that it should not be the only approach used, as customer focus and employee development are also crucial. By learning the lessons propounded in this volume, companies can avoid inappropriate predation, generate attractive returns for shareholders and provide a sound platform from which to launch and sustain successful customer-driven strategies and lasting competitive advantage.