Business 3

Chapter 4  Assignment questions
1. What is a business-level strategy? 
2. What is the relationship between a firm’s customers and its business-level strategy in terms of who, what, and how? Why is this relationship important?
3. What are the differences among the cost leadership, differentiation, focused cost leadership, focused differentiation, and integrated cost leadership/differentiation business-level strategies?
4. How can each one of the business-level strategies be used to position the firm relative to the five forces of competition in a way that helps the firm earn above-average returns?
5. What are the specific risks associated with using each business-level strategy?Chapter 5 Assignment questions
1. Who are competitors? How are competitive rivalry, competitive behavior, and competitive dynamics defined in the chapter?
2. What is market commonality? What is resource similarity? What does it mean to say that these concepts are the building blocks for a competitor analysis?
3. How do awareness, motivation, and ability affect the firm’s competitive behavior?
4. What factors affect the likelihood a firm will take a competitive action?
5. What factors affect the likelihood a firm will initiate a competitive response to a competitor’s action(s)?
6. What competitive dynamics can be expected among firms competing in slow-cycle markets? In fast-cycle markets? In standard-cycle markets?
As always: Assignments must be “IN YOUR OWN WORDS”  and GIVE REAL-LIFE EXAMPLES  to illustrate your answers.
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