1. Explain how a differentiation strategy enables a business to address the five competitive forces in such a way that it can enjoy high levels of profitability.
2. Explain how a cost leadership strategy permits a firm to address the five forces in their competitive environment so it can enjoy higher-than-normal profits.
3. What are the four factors described in Porter's diamond of competitive advantage? How do the four factors explain why some industries in a given country are more successful than others?
4. Describe the three (3) characteristics of entrepreneurial leadership.