Key Benefit-Carpenter/Sanders is the first book built around a dynamic perspective on strategy Key Topics-Three themes constitute the dynamic perspective on strategy: (1) changing strategies for changing times, (2) the integration of formulation and implementation, and (3) strategic leadership. Crafting Business Strategy for Dynamic Contexts- chapter 6 is the aggregate of much of the current research on dynamic strategies, including: Competitive Dynamics, Technological Changes, and Hypercompetition . After reading the chapter, students will learn models that guide them through formulating and implementing a strategy in a dynamic, or changing, environment. Strategy Diamond: The strategy diamond outlines five key elements necessary for creating a complete strategy: arenas, vehicles, differentiators, staging, and economic logic. The Strategy Diamond gives students a concrete model for considering all aspects of a strategy in order to create and implement a complete strategy. The arenas and staging elements deal specifically with the dynamic aspect of strategy. How Would You Do That” exercises- There are two of these robust exercises in each chapter, immersing students in the implementation challenges real companies face. The exercises allow implementation to remain in the forefront of the student’s minds even in the formulation chapters. Market- For undergraduate/MBA strategic management courses.