1. What is “strategy” and what is the role of strategy in today’s organization?
2. What three factors determine the level of profit in an industry? (Define and describe each factor)
3. What are some of the benefits and the deficiencies of Porter’s Five Forces model?
4. How can an organization’s or product’s “reputation” contribute to or detract from competitive advantage?
5. For a resource or capability to establish a competitive advantage, two conditions must be present. What are they?
6. Why is predicting change difficult?
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