Answer each question in detail. Each question should be answered using at least 1.5 to 2 paragraphs. Do not copy directly from the textbook, use outside information to support examples, and use your own words. Each answer should be thorough and indicative of a senior-level student.
Chapter 5
What are the five generic competitive strategies? Briefly describe each one and identify the type of competitive advantage that each strategy is aimed at achieving.
What market conditions and circumstances make a low-cost provider strategy attractive? What are the pitfalls in pursuing a low-cost provider?
What are the distinctive features of a focused differentiation strategy? How is it different from a broad differentiation strategy?
Chapter 6
Explain in detail the Blue Ocean Strategy. Discuss the positive aspects of the strategy. Discuss the drawbacks of this strategy.
Describe in detail what is related diversification and unrelated diversification. Which is the better approach to diversification—a strategy of related diversification or a strategy of unrelated diversification? Explain and support your answer.
Chapter 9
1. Explain what is ethics. Explain what is business ethics. Does a substantial difference exist between ethics and business ethics?
2. Define in detail ethical universalism, ethical relativism, and integrative social contracts theory.
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