Instructions: Please submit the answers (only the answers-do NOT type in the questions). Answer in paragraph form using complete sentences. Each question should be at least 1/3 of a page or more. Be sure to answer each part of the questions completely. When answering, be sure to use your own wording. Do not just give definitions/information straight from the book. This will be run through Turnitin and plagiarism will NOT be tolerated!
1. Explain the concept and types of Porter's Competitive Strategies. Which strategy is most useful (and why) in each of the following environments: fragmented industries,consolidated industries, hyper competition? (Chapter 6)
2. What are cooperative strategies? Explain the different types and describe 2 examples for each that are not in the text. (Chapter 6)
3. Describe the 3 key issues that must be explored when thinking about strategy. Explain the different directional strategies and give examples that are not in the text. (Chapter 7)
4. What do we mean by functional strategy? What is necessary for a functional area to have success? What should be done if the functional area does not have this necessity? Why?(Chapter 8)
5. How do you select the best strategy? What are the four most important influences on strategy? Which influences not given in the book do you believe are also critical in strategy selection and why? (Chapter 8)
6. Explain the "who, what, when, where and how" of strategy implementation. (Chapter 9)
7. Discuss the international issues related to strategy implementation. How does the centralization vs. decentralization relate to this discussion? Also, explain the stages related to internationalization and give an example of a firm (not from the book) that is in each of those stages. (Chapter 9)
8. What should a firm consider, in regard to staffing decisions, when implementing strategic changes? How does the corporate culture and national culture (Hofstede) of the firm impact these staffing decisions? (Chapter 10)
9. What is the evaluation and control process entail? What should we consider when evaluating the performance after our strategies have been implemented and what problems in performance measurement might we encounter along the way? (Chapter 11)
10. Conduct a search to identify a company that exemplifies social entrepreneurship (you may need to do some research to understand this term). Describe the company. What do they do well? What pitfalls or problems have they encountered? What type of business would you create as a social entrepreneur?