Please give a descriptive answer to each question
1. When analyzing the internal environment firms should be looking at the VRIO Framework. Explain what each of these mean and give a brief description and example.
2. What are the differences between business and corporate level strategies.
3. Explain what Economies of Scale is.
4. Is it possible to have a cost leadership strategy and maintain a sustainable advantage? Explain in detail.
5.Is it costly to imitate a Product Differentiation strategy? Explain your answer in detail.
6. Explain what vertical integration is.
7. Describe what competitive disadvantage, competitive parity, and competitive advantage mean
8. Identify the steps of the Strategic Planning Process and give a brief description of each.
9.There are 6 factors which a firm faces in the external environment. List each of these and give a brief description.
10. Explain the management controls which can be used in vertical integration.