Management Question
1. Identify the five forces that underlie Porter’s five forcesmodel of competition.
2. Analyse the industry structure of the public transport industryin Hong Kong and assess its attractiveness with Porter’s FiveForces model.
3. In the study of strategic management, the ‘resource-based view’is one of the main approaches taken by scholars.
a. What is the resource-based view (RBV)? Define and explain theterms ‘resource’, ‘capability’ and ‘competitive advantage’.
b According to the resource-based view, there are specificcriteria that managers can use to decide which of their firm’sresources/capabilities have the potential to create a sustainablecompetitive advantage. Briefly explain these criteria and discusswhy they are important for sustaining competitive advantage.
4.
a. Describe and explain ‘value chain analysis’.
b. Use the value chain to discuss how to build differentiationadvantage in a company
5.
a Why is it so important to analyse and understand the external andinternal environments for strategic success?
b What is an industry exit barrier? Explain and illustrate withtwo real- life examples of different cases how high exit barriersaffect the competition within an industry?
