Q1: In five stages of industry life cycle, using an example to briefly explain characteristics of embryonic (or pioneering) stage.

Q2:Porter suggests two major strategies that a firm can follow in order to address the competition it faces. Briefly discuss what is Low-Cost Strategy and how it works using an example.

Q3: In five stages of industry life cycle, using an example to briefly explain characteristics of growth stage.

Q4: Briefly discuss what are convertible arbitrage and equity market neutral strategies used by the hedge fund.