1) Apply the value chain analysis to your firm. What are the firms core competencies, and what value chain activities should be outsourced? Explain.

2) What is the relationship between diversification and performance? Please explain. Apply this relationship to your own firm give one example of a past strategic action and one example of a potential future strategic action that demonstrate this relationship.

3) How is a core competency different than a capability? How did Tescos core competencies affect their decision to enter the US market? Please be specific in terms of the business-level and corporate-level strategic considerations? Lastly, which firm is most likely to gain from Tescos exit into the US, explain?

4) What is the concept of equifinality? How does the concept of equifinality explain why certain firms flourish, while other firms fail? Employing one (or more) of the tools learned in this course, explain why Smith Corona, a firm with 50+ years of above average returns, ended up filing for bankruptcy?