The telecommunications industry is one of the most influential and significant global industries. As well as being fundamentally important to the health of the modern economy, it is going through a period of unprecedented change, facing a range of strategic challenges from globalization and cross-border alliances, to changing technologies and consumer demands. ÍNDICE 1. Context: Overview of Telecommunications Industry Part 1: Managing Ascent and Decline 2. Strategic Aspects of Ascent and Decline 3. BT 4. AT&T 5. Worldcom Part 2: Convergence and Specialism 6. Strategic Aspects of Convergence and Specialism 7. Vivendi Universal 8. AOL Time/Warner 9. Vodafone Part 3: Protecting Core Markets 10. Strategic Aspects of Protecting Core Markets 11. Telecom Italia 12. Deutche Telekom Part 4: (Mis)managing Industrial Transition 13. Strategic Aspects of (Mis) managing Industrial Transition 14. Cable and Wireless 15. Marconi 16. Conclusions and Review