Management Question
1. Identify the five forces that underlie Porter’s five forces model of competition.
2. Analyse the industry structure of the public transport industry in Hong Kong and assess its attractiveness with Porter’s Five Forces model.
3. In the study of strategic management, the ‘resource-based view’ is one of the main approaches taken by scholars.
a. What is the resource-based view (RBV)? Define and explain the terms ‘resource’, ‘capability’ and ‘competitive advantage’.
b. According to the resource-based view, there are specific criteria that managers can use to decide which of their firm’s resources/capabilities have the potential to create a sustainable competitive advantage. Briefly explain these criteria and discuss why they are important for sustaining competitive advantage.
4. a. Describe and explain ‘value chain analysis’.
b. Use the value chain to discuss how to build differentiation advantage in a company
5. a. Why is it so important to analyse and understand the external and internal environments for strategic success?
b. What is an industry exit barrier? Explain and illustrate with two real- life examples of different cases how high exit barriers affect the competition within an industry?