The second edition of this text offers a comprehensive economic examination of the global competitive restructuring that is now occurring as a result of the US Telecommunications Act 1996. Updated with extensive data analysis on the contours of the "new economy", the book identifies strategic options that will help position your firm for continued success, and guides you to the most effective methods of building and enhancing competitive advantage in new markets. You learn how to project emerging business opportunities precipitated by deregulation and the convergence of the telephony, broadcasting, and computer sectors. The book includes a new treatment of current and prospective developments in inventory management, productivity, supply-chain management, and changes in labour demand and capital investment, as well as an empirical evaluation of the strategic transformation of the communications industry, as defined by the evolution of electronic commerce. Key strategic tools are introduced, such as advances in customer relationship management, value-based pricing, and strategic alliance formations. An extensive research appendix provides a full interpretation of the Telecommunications Act of 1996; website citations in telecommunications strategy, marketing, finance and management; and macroeconomic analysis for communications markets.