Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic management: Competitiveness and globalization: Concepts and cases (12th ed.). Boston, MA: Cengage Learning. ISBN-13: 9781305502147
These are Discussion Question 2 are done every week, must be at least 150 words and have a citation.
1.In your own words, describe the differences between the industrial organization (I/O) and the resource-based models of above-average returns. As an analyst, how would you determine the significance or validity of these models with respect to a given industry?
2. How do vision and mission statements affect the strategic management process? Select an example of strong vision and mission statements and include them here. Why do you think these are strong statements? How do the statements contribute to a perception of company’s overall competitiveness? Cite any sources used to support your answer.
3. Why does scanning the external environment play such a significant role in strategic analysis? How do unexpected daily events warrant significant analysis, and how would you determine their significance? As a strategic analyst, how would you approach and be prepared for their inevitable occurrence?
4. Describe a historical situation where a failure to assess and correctly interpret the external environment resulted in a business’ failure. What elements of the external environment were missed? How might the company have corrected this oversight? Cite any sources used to support your answer.
5. What is value and how is it determined and measured? In your opinion, does business generally determine and measure value appropriately? In a free market, what happens when value is not properly assessed by a business and its leaders? Give a historical example and your thoughts about how and why a disconnect occurred. Cite any sources used to support your answer.
6. What makes a competitive advantage sustainable, and why is sustainability a critical strategy-making consideration? Is sustainability knowable in the medium and long term? Why or why not? Give an example to support your conclusion. Cite any sources used to support your answer.
