1. Describe Transaction Cost Economics and illustrate how transaction costs approach is used in corporate strategy to determine whether to diversify or not.
2. Describe the balanced scorecard and explain three practical benefits of using the balanced scorecard in a public organization. What are the disadvantages of using the balanced scorecard?
3. Describe real options theory. What are the advantages and disadvantages of using a real options approach to evaluating entrepreneurial opportunities? Give two examples where a real options strategy might not be the best approach to managing innovation?
4. Describe at least four main international entry modes. Discuss the risks associated with implementing an international strategy. Discuss ways of mitigating the risks you have highlighted.