Introduction. (R. Sanchez, A. Heene). Part I: Defining and Communicating a Strategic Logic. Fractals, Stories, and the Development of Coherence in Strategic Logic. (J.A. Black, F. Fabian, K.T. Hinrichs). Identifying Key Activities in Banking Firms - A Competence Based Analysis. (E. Lamarque). Part II: Creating Strategic Flexibilities. Scenario-Based Competence Designation. (S. Polat, U. Asan). The Logic of Real Options in Strategy Implementation. (S. Mouzas). Competence-based Management and Strategic Flexibility: The Case of Air Liquide. (E. Metais, P. Xavier Meschi). Part III: Identifying and Operationalizing Organizational Competences. Identifying Competences using a Service-Process Model in Quality Management: Empirical Evidence from Medical Services. (M. Orava, M. Brannback). Mergers and Acquisitions as Gap-Closing Activities in Competence Building and Leveraging. (R. Metzenthin). Operationalizing Competences. (J. Wallin). Part IV: Systemic Interdependencies of Competence Building and Leverage Activities. A Systems View on What Matters to Excel. (N. Houthoofd, A. Heene). Exploring the Growth Strategy of Contract Electronics Manufacturers in Taiwan: A Competence-Based Perspective. (Ji-Ren Lee, Jen-Shyang Chen, Ming-Je Tang). Outline of a Theory of Competence Development. (H. Proff). (Un)Successful Management of a Firm's Dynamic Business: Where to Should Competence-Based Concepts be Advanced? (P. Huovinen).