1. Describe the three steps of planning. Explain how they are related.
2. How can scenario planning help managers predict the future?
3. What is the relationship among corporate-, business-, and functional-level strategies, and how do they create value for an organization?
4. Pick an industry and identify four companies in the industry that pursue one of the four main business-level strategies (low-cost, focused low-cost, and so on.)
5. What is the difference between vertical integration and related diversification?