Question 1

What is benchmarking and why is it a strategically important analytical tool?

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Question 2

Assume a firm is at a cost disadvantage with its rivals because its internal costs are higher than those of its rivals.Identify several strategic moves that it can make to restore cost parity.

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Question 3

Describe some ways that a company can improve (1)its supplier-related value chain activities and (2)the activities of its forward channel allies.

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Question 4

Identify and explain something that cannot be learned from doing a competitive strength assessment.

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Question 5

Assume a firm is not cost competitive with its rivals because of higher supplier-related costs.Identify three strategic moves that it can make to restore cost parity.

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Question 6

Why is it important for company managers to develop a "worry list" of strategic issues and problems that they need to address and to resolve? What should they consider to develop this list?

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Question 7

What benefits might management expect to gain from benchmarking the "best practices" of those in other industries?

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Question 8

Explain why a weighted competitive strength assessment is important.

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Question 9

Identify and explain something that can be learned from conducting a competitive strength assessment.

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Question 10

What are the remedies for an internal cost disadvantage?

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Question 11

What are the three main approaches to rectify a weakness in a company's customer value proposition?

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Question 12

What must a company do to translate its performance of value chain activities into competitive advantage?

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Question 13

In determining the various strategic issues that a company needs to address,managers need to consider both the results of its analysis of the company's external environment and the results of its evaluation of the company's competitive position,customer value proposition,and cost structure.True or false? Explain and defend your answer.

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The most important analytical step is to zero in on exactly what strategic issues company managers need to address.This step involves drawing on the results of both industry and competitive analysis and the evaluations of the company's internal situation.The task here is to get a clear fix on exactly what industry and competitive challenges confront the company,which of the company's internal weaknesses need fixing,and what specific problems merit front-burner attention by company managers.

Question 14

Explain the benefits of preparing a competitive strength assessment.

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Question 15

Assume a firm is at a cost disadvantage with its rivals because of higher distributor-dealer costs than its rivals.Identify two strategic moves that it can make to restore cost parity.

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