NEIL HOOD is Professor of Business Policy at the University of Strathclyde and advisor and non-executive Director in a range of Public and Private companies. He is also co-director, with Stephen Young, of the Strathclyde International Business Unit.JEREMY PEAT is Chief economist at the Royal Bank of Scotland.EWEN PETERS is Consultant and Senior Research Fellow at the University of Strathclyde.STEPHEN YOUNG is a Professor in the Department of Marketing at the University of Strathclyde. He is also co-director, with Neil Hood, of the Strathclyde International Business Unit.

• Introduction PART 1: CONTEXT The Scottish Economy The National and European Policy Dimension Scotland's Benchmarks The Changing Global Operating Environment PART 2: INDUSTRIES, TECHNOLOGIES AND GROUPINGS Electronics and the ICT Industries Food and Drink Biotechnology and the Medicare Industries Creative and Media Industries Tourism Financial and Business Services Scotland's Knowledge Sector and Skills Base Energy PART 3: CORPORATE SCOTLAND: ESTABLISHED AND NEW FIRM STRATEGIES Case Studies of Established Firms Case Studies of New Firms PART 4: POLICY ISSUES FOR THE SCOTTISH ECONOMY Globalization and the Knowledge Economy Corporate Governance and the Scottish Stakeholders Econets and Scotland's Knowledge Infrastructure Commercializing Scottish Know-how Networks and Relationships: The Scottish Diaspora Conclusions