Part A: Strategic Management
Part A refers to the material in Lesson 1 of this course. Using logical, clear writing, do the following:
- Describe strategy and the strategic management process.
- Define competitive advantage and describe the two approaches used to estimate a firm’s competitive advantages.
- Explain why it is important to understand a firm’s strategy.
Part B: External Analysis
Part B refers to the material in Lesson 2 of this course. Using logical, clear writing, do the following:
- Describe an external analysis.
- Analyze the two levels of the environment.
- Identify and define the three elements of the S-C-P model.
Part C: Internal Analysis
Part C refers to the material in Lesson 3 of this course. Using logical, clear writing, do the following:
- Describe an internal analysis.
- Explain resources and capabilities.
- Describe the VRIO framework.
Part D: Cost Leadership
Part D refers to the material in Lesson 4 of this course. Using logical, clear writing, do the following:
- Differentiate between business strategies and corporate strategies and define the nature of a cost-leadership strategy.
- Identify six sources of cost advantages for firms.
- Identify the most appropriate organizational structure for a firm pursuing a cost-leadership strategy.