Chapter Review Questions

  1. Why do managers use strategic analysis?
  2. What information does a SWOT analysis provide managers? What information might it miss?
  3. Describe a firm’s macro environment and how managers use PESTEL to understand it.
  4. What is a firm’s micro environment, and why is it important?
  5. What is an industry, and how do Porter’s Five Forces help a manager trying to understand a firm’s industry environment?
  6. What are firm resources and capabilities, and what information does VRIO provide about them?
  7. When does a firm have a competitive advantage over its rivals?
  8. What are generic competitive strategies, and how are they implemented in a firm’s value chain activities?
  9. What do strategic group members have in common with each other? What impact do firms outside a strategic group have on those in that group?
  10. How does strategic analysis help a firm develop its own strategic position? Why should that position be unique?
Source contents: Principles of Management and Organizational Behavior. Please visit OpenStax for more details: https://openstax.org/subjects/view-all

License

Icon for the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License

Introduction to Management and Organizational Behavior Copyright © by OpenStax is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.