The purpose of this book is to understand strategy from a business model perspective. What does that mean? It means that managers have to think rigorously about their value proposition and their revenue and cost model before thinking of a strategy. The business landscape calls for challenging assumptions continuously. What is the difference between a business model and a strategy? A business model is how a company operates and a strategy is how a company competes. When the basis of competition changes because a new model changes the economics in the industry (i. e. publishing & book retailing) business models need to be adjusted and then the strategy realigned. This book adds a level (to the traditional strategic management process) that is more consistent with current "real-world" practices in strategic thinking and analysis. It takes the students deeper into the intricacies of what constitutes a business model and how current strategy revolves around it. It is based on the premise that strategies cannot be formulated without first understanding the fundamental elements of a business model.