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Argues that to match the right distinctive capabilities to the challenges of the business environment is the difference between corporate success and failure. Investigates John Kay, ex‐chairman of consultants London Economics (still a partner), visiting professor of economics at London Business School, and his work as one of the thinkers arguing for a stakeholder approach to the economy and society. States that success or failure at the corporate level is explained by an organization matching its capabilities to the challenges facing it in the business environment

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