1. Distinguish between market commonality and resource similarity. Apply these concepts to two rival firms that you are familiar with.

2. Let's say you work for McDonald's and you applied Porter's Five-Forces Model to study the fast-food industry. Would information in your analysis provide factors more readily to an EFE Matrix, a CPM, or to neither matrix? Justify your answer.

3. Discuss the following statement: Major opportunities and threats usually result from an interaction among key environmental trends rather than from a single external event or factor.

4. Give some advantages and disadvantages of cooperative versus competitive strategies.

5. Identify two industries experiencing rapid technological changes and three industries that are experiencing little technological change. How does the need for technological forecasting differ in these industries? Why?

6. Do you agree with I/O theorists that external factors are more important than internal factors to a firm's achieving competitive advantage? Explain both your and their position.