Book excerpt: When it was originally published this book presented the first independent review of the critical role played by multinationals in Europe. Extending its focus beyond 1992, the book examines both the economic and business strategy frameworks the firms need to develop to maintain a competitive advantage. Using case-studies from specific industries, it looks not only at the activity of multinationals within the single market but explores the competitive strategies of non-European firms with special emphasis on Japanese companies which were poised to exploit 1992. The importance of interaction between multinationals and national government policies is also analysed taking into account the integration already achieved.