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1. A firm normally can identify its basic competencies and the desirable improvements that it can make to help meet the requirements of potential customers within its intended market. After conducting an internal analysis, what are some of the indications that tell top management that the firm is able to generate a profit? What happens when the firm does not have the required competencies and resources? Based on this perspective, would it help the firm to hire the top talent in the field?

 

 

 

 

 

2. What will be the key developments in the global environment of business during the next five years? On the basis of these, what will be the greatest challenges that firms from the advanced industrialized countries will face? What strategies will firms need to adopt in order to prosper in the environment you foresee? What are the implications for these developments for firms’ organizational structures, management systems, and leadership styles?

 

 

 

 

 

3. The process that a business takes in developing a strategy is one of the single most important tasks that a business will do. What do we use strategy analysis for and how can we identify wither the strategy is a part of the Corporate level strategy or Business level strategy? How can we identify if the strategy is a part of the firm or of the whole firm competing in a specific market.

 

 

 

 

 

 4. Competitive intelligence is an important approach to identifying current and future competitors and generally identifies how a firm should respond. To what extent is a firm’s value approach helpful in assessing performance from an external point of view? Is it possible for managers to manipulate their firm’s value for stakeholders’ interests or for self-serving reasons? Are there currently any trends in the business world to increase control and accountability for top managers and accounting firms?

 

 

 

 

 

5. Today's business environment requires companies to undergo changes almost constantly and rapidly evolving technology forces businesses to respond in order to survive. When Technological changes occur why do firms react differently? What determines a firm’s ability to prosper? What are the strategic implications of that shift? When and how should the firm shift to the new technology?

 

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    Business firms Student’s name Institutional affiliation Introduction A business firm refers to an organization that is commercial which operates on, for profit basis. They can be involved in selling different kinds of goods to consumers or offering various kinds of s

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