Question 1. Given the importance of understanding the external environment, why do some firms fail to do so? Provide examples of firms that did not understand their external environment. What were the implications of the firm's failure to understand that environment?
Question 2. Several companies use their brand as a competitive advantage. Given your knowledge about the global economy, which brands do you believe have the strongest likelihood of remaining a source of advantage in the twenty-first century? Why? What effects do you believe the Internet's capabilities will have on this brand, and what should the owner of the brand do in light of them?