Module 1 Assignment

Read the chapter in the text and the PowerPoint slides. Answer the following questions in a single Word document.

  1. What is a strategy? What is the objective of a strategy? (5 points)
  2. Compare the two theoretical models of above-average returns i.e. the I/O model and the resource-based model. What is the key difference between the two models? How should strategic managers choose between them when formulating strategies? (5 points)
  3. What is a mission? What is a vision? What is the connection between them? What is the difference between them? (5 points)
  4. What are emergent strategies according to Henry Mintzberg? Why would firms need emergent strategies? (5 points)

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