Henderson viewed business competition not as a series of isolated events, but as a complex interactive system. He argued that strategy is a deliberate search for a plan of action that develops and compounds a company's competitive advantage.
Henderson emphasizes the importance of industry structure in shaping business strategy. He argues that the structure of an industry, including factors such as competition, barriers to entry, and supplier power, determines the potential for profitability and growth. Companies must understand the underlying structure of their industry and position themselves accordingly. For example, in a highly competitive industry, a company may need to focus on differentiation or cost leadership to achieve a sustainable advantage. the logic of business strategy bruce henderson pdf