1) In Learning from Mistakes, we discussed how the decisions of owners led to the failure of the firm. Research the ownership and boards of directors of another major retailer and evaluate the degree to which the firms corporate governance is likely to support the firms success.

2) Wendis Corporation is one of the largest fast-food restaurant chains. Using the Internet, evaluate the quality of the corporation in terms of management, the board of directors, and shareholder activism. Are the issues you list favorable or unfavorable for sound corporate governance?

3) Give some examples of companies that you feel did not monitor the environment and adapt to needed changes in their strategy and objectives resulting in big problems for them. Do you attribute this to a traditional control system? What companies are you familiar with that responded appropriately (or inappropriately) to environmental change?

4) Can culture contribute to a companys competitive advantage? How can it erode competitive advantages? Explain and provide examples.