1. The ability to do a comprehensive financial analysis is a critical component of strategic management. Discuss the steps involved in conducting the following analyses: cross-sectional ratio analysis; cross-sectional common-sized statement analysis; longitudinal ratio analysis; and longitudinal common-sized statement analysis.

2. In conducting a SWOT analysis, is it enough to simply compile lists of the company's strengths, weaknesses, opportunities and threats? Why or why not?

3. In determining the various strategic issues that a company needs to address, managers need to consider both the results of its analysis of the company's external environment and the results of its evaluation of the company's resources and competitive position. True or false? Explain and defend your answer.

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