SUMMARY REVIEW QUESTIONS 1. SWOT analysis is a technique to analyze the internal and external environments of a firm. What are its advantages and disadvantages? 2. Briefly describe the primary and support activities in a firm's value chain. 3. How can managers create value by establishing important relationships among the value-chain activities both within their firm and between the firm and its customers and suppliers? 4. Briefly explain the four criteria for sustainability of competitive advantages. s. Under what conditions are employees and managers able to appropriate some of the value created by their firm? 6. What are the advantages and disadvantages of conducting a financial ratio analysis of a firm? 7. Summarize the concept of the balanced scorecard. What are its main advantages