Lesson 4: Internal Environment Analysis (Chapter 3) 1. What do you understand by Value? Does value means 'low price'? Explain. List any four major challenges a firm faces in analyzing internal organization. 2. Discuss in brief resources? Discuss briefly different types of resources. In the presentday giobal environment which type of resources are more valuable and why? 3. Discuss in brief capabilities of a firm? Discuss how firms develop capabilities with examples. 4. Discuss briefly how capabilities become core competencies using four criteria of sustainable competitive advantage. 5. What is a value Chain? Discuss briefly primary and support activities of value chain explain analysis. How do you identify core competencies using Value chain? Explain one sentence what is outsourcing? Lesson 5: Business level Strategy -1 (Chapter 4) 1. Define 'Business Level Strategy'. Explain very briefly, how Business Level Strategy differs from corporate level Strategy. 2. Discuss very briefly how answering questions about 'Who', 'What' and 'How' will help you develop the Business Level strategy? 3. Discuss in brief the 5 generic Business level strategies. 4. Discuss Cost Leadership Strategy in detail. Your answer should include concept, how this strategy can be effective in the face of Michael porter's 5 forces 5. Discuss briefly the competitive risks of Cost Leadership Strategy. Lesson 6: Business level Strategy -2 (Chapter 4) 1. Discuss Differentiation Strategy in detail. Your answer should include concept, how this strategy can be effective in the face of Michael porter's 5 forces. 2. Discuss briefly the competitive risks of Differentiation Strategy. 3. Discuss very briefly the two Focus strategies. 4. List the competitive risks of Focus Strategy. 5. Discuss very briefly integrated strategy and list the essentials needed to implement it. List the competitive risks of Integrated Strategy. List - means you do not have to explain. Just list points 1., 2., 3. Etc. Discuss in brief - means you are expected to put the heading and describe it very briefly in one or two sentences for each point. Discuss - means you are expected to discuss briefly. Discuss in detail - means you have to provide an elaborate explanation