1. Draw a typical company value chain and briefly explain why the proficiency with which a firm performs the activities comprising its value chain matters.
2. What is benchmarking and why is it a strategically important analytical tool?
3. The ability of a company to perform value chain activities more proficiently or more cheaply than rivals is a potential source of competitive advantage. True or false? Explain and defend your answer.
4. In determining the various strategic issues that a company needs to address, managers need to consider both the results of its analysis of the company's external environment and the results of its evaluation of the company's resources and competitive position. True or false? Explain and defend your answer.
5. Explain why a weighted competitive strength assessment is conceptually superior to an unweighted one.
Please answer all questions