Please prepare your answer in APA format, there is no page limit. However, this is a major test and I would expect that it would be difficult to answer most of the questions without a considerable amount of time and consideration.
Part 1: Companies must maintain different strategies based on the Stages of the Industry Life Cycle. Based on this occurrence, please address the following questions:
- Pick 3 companies from 3 separate industries and connect their strategy to where you think the industry is in their life cycle. An example would be Tesla Motors as a competitor in the electric car industry which is arguably in the Introduction phase
- Pick 3 additional companies that are competing in the electronic communication industry (mature stage) and discuss the strategy that each has chosen.
Part 2: Pretend that you are going to start up your own company after finishing your undergraduate degree. Based on what you now know about strategy, discuss your idea for the company and the strategy that you will use. In particular:
- Tell me about the opportunity that you think exists, the resources you will need, how you will obtain those resources, and your role as the entrepreneur.
- What will be your entry strategy, and why?
- What will be your generic strategy (OCL, differentiation, focus, combined), and why?
- Based on competitive dynamics, how will your competitors respond?