1. Explain what resources, competencies capabilities are, and how they can be used to create value (not the value chain) and competitive advantage. Be sure to consider capabilities and how do they affect resources and competencies. 2. Describe three barriers to entry within a specific service area and explain why you think these are the most important barriers. 3. Compare and contrast Strategic Planning, Strategic Thinking and how they impact and shape Strategy and Operational Effectiveness. 4. Define Mission, Vision and Values and explain how they are the foundation for strategy development and implementation.