Essay Homework
After reading the assigned textbook chapter, one student per team will answer a set of chapter-related questions (listed on CC) based on an imaginary business using a random word generator
So pretty much makeup company based on 3 randomly generated words
Answer following questions
Chapter 8: Corporate-level Strategies
1. Assume that you operate only in a single industry, describe what does your firm do; what is your MAIN product or service? ; be sure to explain its position on the product value chain (i.e., is in manufacturing, wholesale, retail, etc.).
2. Hypothetically, how can you vertically integrate backward and forward (if possible)? What can be the benefits?
3. Why, more than likely, this vertical integration won't be a good idea?
4. How can you do a related diversification? Into which industry should you be entering? What's "related" here, what core competencies will you be using, what resources will you be sharing?
5. Note the difference between related = transferring knowledge and/or sharing resources (e.g., motorcycles and lawnmowers), and complementary = go together (e.g., cars and gas stations).
6. Run the three tests for diversification for this diversification venture? (Perform these tests for the new industry you are planning to go into, not your existing industry! ; Note: 1st test = do quick Porter's 5 forces; test 2 = costs specifically to your company, not in general; test 3 = ongoing benefit.)
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.