QUESTION 1: Evaluate the accuracy of the following statement: Formal strategic planning systems are irrelevant for firms competing in high-technology industries where the pace of change is so rapid that plans are routinely made obsolete by unforeseen events.
QUESTION 2: Is it possible for a company to be the lowest cost producer in its industry and simultaneously have an output that is most valued by customers?
QUESTION 3: What do you think are the sources of sustained superior profitability?
QUESTION 4: Which is more important in explaining the success and failure of companies: strategizing or luck?
QUESTION 5: Under what environmental conditions are price wars most likely to occur in an industry? What are the implications of price wars for a company? How should a company try to deal with the threat of a price war?
QUESTION 6: What are the strengths of formal strategic planning? What are its weaknesses?
QUESTION 7: From what perspective might innovation be called the single most important building block of competitive advantage?
QUESTION 8: When is a company's competitive advantage most likely to endure over time?
QUESTION 9: Why is it important to understand the drivers of profitability, as measured by the return on invested capital?
QUESTION 10: What role can top management play in helping a company achieve superior efficiency, quality, innovation, and responsiveness to customers?