Describe a historical situation where a failure to assess and correctly interpret the external environment resulted in a business’ failure. What elements of the external environment were missed? How might the company have corrected this oversight?
What is value and how is it determined and measured? In your opinion, does business generally determine and measure value appropriately? In a free market, what happens when value is not properly assessed by a business and its leaders? Give a historical example and your thoughts about how and why a disconnect occurred. Cite any sources used to support your answer.
What makes a competitive advantage sustainable, and why is sustainability a critical strategy-making consideration? Is sustainability knowable in the medium and long term? Why or why not? Give an example to support your conclusion. Cite any sources used to support your answer.
Describe the relationship between business level strategy and value chain activities. How do disruptive business models alter a value chain? What are the implications for the business and for its competitors?
Why do you think competing businesses endeavor to differentiate? How can external factors regulate the nature of competition within an industry?
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