Task: Achieving competitive advantage
Q1. How does the creation of value lead to competitive advantage?
Q2. How may a firm achieve competitive advantage? Consider strategies of cost leadership, benefit leadership and degrees of focus.
Q3. How does the price elasticity of demand affect a firm's strategic positioning for competitive advantage?
Q4. What factors and strategies allow a firm to sustain competitive advantage? Cite at least one real life example of success and one real life example of failure in your explanation.
Task: International Business
Q1. What additional risks do multinational corporations face, and what additional opportunities do they enjoy when compared with domestic firms?
Q2. What strategies may a multinational corporation use to best take advantage of the opportunities discussed above?
Q3. What strategies may a multinational corporation use to best mitigate the risks discussed above?
Q4. How does achieving competitive advantage at an international level differ from achieving competitive advantage at a domestic level? How may a firm strategically position itself for international competitive advantage? Cite at least one example or strategy specific to international business.