Description

Answer the following questions based on information in Chapter 1 of the text for this class.

1. Briefly describe the three primary elements of the strategic management process.

 

 

 

2. Briefly discuss the two approaches to the strategic management process that explain how firms can create above average returns.

 

 

3. Describe the three technological trends and conditions that are significantly altering the nature of competition.

 

 

 

4. How would you distinguish between vision and mission statements?

 

 

 

5. What are stakeholders and what are the three primary stakeholder groups?

 

 

 

6. Can a firm achieve a competitive advantage and thereby strategic competitiveness without acting ethically? Explain.

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