1. If company has $1 million to spend on a new strategy and is considering to invest in either market development or product development, what factors might make the company tend to choose product development?
2. Identify an industry that you consider to be in decline, and a business that you consider to be strong in that industry. What types of strategic initiatives would you expect a business in a strong competitive position to pursue in the decline stage of its industry lift cycle and why?
3. What are the main ways in which companies can develop economies of scale in a fragmented? Provide examples in each part of your answer.
4. Why might a technology-based firm regularly choose to be a follower regarding introducing new technologies?