1. How might the responsibilities of directors differ in a closely held company, with most stock owned by founding family members?

2. Why do you suppose that physical resources typically are not sources of sustainable competitive advantage?

3. How are knowledge and learning resources leading to competitive advantage for companies in developing nations such as China and India? Is this a competitive advantage to US companies?

4. Which of the following companies have a sustainable source of competitive advantage? Why? Wal-Mart? Microsoft? Dell? Netflix?