1. One of Porter’s Generic Strategies is to be the low cost producer. Explain three ways that producing large quantities of a product lowers the firm’s cost. Also, tell how such activity creates a barrier to entry, keeping competitors from venturing into that firm’s industry.
2. Explain the use of SWOT analysis in the formulation of business strategy. That is, tell what SWOT analysis is and how it is performed. Be specific about such things as whether a firm looks for “strengths” inside the firm or outside, as well as what elements should be included in a strategic plan.
3. In Chapter 12 we discussed several types of organization design (“H-form” for conglomerate or holding company, etc.). Explain the “Matrix Organization” design.
4. Regarding all four elements of the continuum below, discuss how the amount of control, the level of risk, and the magnitude of the opportunity facing a company vary as it chooses to use each of these methods to do international business.
Import/export Licensing Strategic alliances Direct investment
5. Describe the similarities and differences among entrepreneurship, intrapreneurship, and social entrepreneurship as they were discussed in class.