Business Policy and Strategy

Question 1
Why is it important to understand the drivers of profitability, as measured by the return
on invested capital?
Question 2
What are the strengths of formal strategic planning? What are its weaknesses?
Question 3
What role can top management play in helping a company achieve superior efficiency,
quality, innovation, and responsiveness to customers?
Question 4
Is it possible for a company to be the lowest cost producer in its industry and
simultaneously have an output that is most valued by customers?
Question 5
What do you think are the sources of sustained superior profitability?
Question 6
Under what environmental conditions are price wars most likely to occur in an industry?
What are the implications of price wars for a company? How should a company try to deal
with the threat of a price war?
Question 7
Which is more important in explaining the success and failure of companies: strategizing
or luck?
Question 8
Evaluate the accuracy of the following statement: Formal strategic planning systems are
irrelevant for firms competing in high-technology industries where the pace of change is so
rapid that plans are routinely made obsolete by unforeseen events.
Question 9
From what perspective might innovation be called the single most important building block
of competitive advantage?
Question 10
When is a company’s competitive advantage most likely to endure over time?

Solution preview for the order on business policy and strategy

APA

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