Question 1

The irony and paradox of the hypercompetition framework is that, in order to achieve a sustainable advantage, companies must seek a series of "unsustainable" advantages.Explain this statement using dynamic strategic interaction sequence.

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Question 2

Describe how competitive advantage can be created via strategic intent, giving examples of successful approaches of competitors.

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Question 3

How do chance events play a role in shaping the competitive environment?

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Question 4

What does the phrase factor condition refer to? How can these factors be inherited or created? Describe Porter's categories of factor conditions.

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Question 5

Michael E.Porter, a leading theorist of competitive strategy, developed a five forces model to explain competition in an industry.List these forces and describe the impact of the threat of new entrants.

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Question 6

What are demand conditions? Why is the nature of home demand conditions for the firm's or industry's products and services important?

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Question 7

What is hypercompetition? Briefly discuss conditions under which hypercompetition takes place.

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Question 8

The nature of firm strategy, structure, and rivalry is the final determinant of a nation's diamond.What does this statement refer to? How does domestic rivalry differ from foreign rivalry? Please explain in detail.

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Question 9

In addition to the five forces model of industry competition, Michael Porter has developed a framework of so-called generic business strategies.Explain these generic strategies, describing their aims and application.

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Question 10

There have been considerable changes that have taken effect since Porter presented his theories.One such impact is due to the tremendous technological advancement.In light of these changes, examine what potential impact technology has on some of his theories.

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Quiz 16: Strategic Elements of Competitive Advantage