Discuss the following questions in relation to above-average returns:
What are the differences between industrial organization (I/O) and resource-based models of above-average returns?
Which is a more successful model?
Which model will you use to help shape your strategic management plan and why?
Applying your understanding of strategic management, answer the following questions:
How can business-level and corporate-level strategies be best used to gain a competitive advantage and earn above-average returns? Explain.
What are the advantages and disadvantages of competitive rivalry?
How can a company use competitive rivalry to its advantage? Provide examples.
Under what conditions would you choose a single or dominant business corporate-level strategy versus a more diversified strategy and why? Discuss.