Answer the following questions. The entirety of the responses can be roughly 2-3 pages total. It’s a timed assignment, so the responses don’t need to be too long. Describe “VRIO” in regards to strategic capability and competitive advantage. What is it and what does it mean? Give an example. Explain “strategic drift” and give examples of how it happens. Describe Michael Porter’s view on competitive advantage. How do the three strategies differ from each other (Focus Strategy, Differentiation, Overall Cost Leadership)? Give an example of each. Describe the value chain and the activities that support the chain. How does marketing fit into the value chain? Discuss organizational culture and how it affects the success of a company that may be expanding from the U.S. into China. What kind of cultural adjustments would a company have to make to successfully expand from the U.S. to China?
