Strategic Management – Spring 2025 – Midterm

1. Explain four generic building blocks of competitive advantage? Illustrate the roles of top management in assisting a company to achieve superior efficiency, quality, innovation, and customer responsiveness? 6.25 (CLO-1, L2) 2. Interpret the definition of business with the help of three basic questions (who is being satisfied, what is being satisfied and how is being satisfied). Relate the accuracy of the following statement; Formal strategic planning systems are relevant for firms competing in high-technology industries where routinely made obsolete by unforeseen events. 6.25 (CLO-1, L2) 3. Model the Michel Porter's three generic strategies with figure and how does following statement “The harder I work, the luckier I seem to get” can be applied in the business process of a company? 6.25 (CLO-2, L3) 4. Complementary products are a real threat for achieving competitive advantage. Do you agree? If so, defend your opinion. Assess the impact of macro environmental factors on the likely level of enrollment at your university over the next decade. Justify the implication of these factors for the job security and salary level of your professors. 6.25 (CLO-3, L5)