In light of different theories of the Strategic Management and Competition touched on in this course (e.g., the Resource Model of Firm, internal or external analysis, Value Chain Analysis, SWOT, Balanced Score Card, Porters Five Forces at dissimilar phases of industry development, Competitor Analysis and Inter-firm Rivalry with notions of Market Commonality and Resource Similarity, with the drivers of competitive behaviour, Sustainable Competitive Advantage, An off Matrix), which parts of strategic management procedure do you think are most complex, and why?
Given the significance of strategic management, why do so many strategies fail?