1 – According to the I/O model, what should a firm do to earn above-average returns? 2 - What does the resource-based model suggest a firm should do to earn above-average returns? 3 - Why is it important for a firm to study and understand the external environment? 4 - What are the differences between the general environment and the industry environment? Why are these differences important? 5 - How do the five forces of competition in an industry affect its profitability potential? Explain.
1 – According to the I/O model, what should a firm do to earn above-average returns?
2 - What does the resource-based model suggest a firm should do to earn above-average returns?
3 - Why is it important for a firm to study and understand the external environment?
4 - What are the differences between the general environment and the industry environment? Why are these differences important?
5 - How do the five forces of competition in an industry affect its profitability potential? Explain.
6 - Why is it important for a firm to study and understand its internal organization?
7 - What is a business model and how do business models differ from business-level strategies?
8 - How do awareness, motivation, and ability affect the firm’s competitive behavior?
9 - What is corporate-level strategy and why is it important?
10 - What motives might encourage managers to over diversify their firm?
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