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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.
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