This is just a study guide, not an actual exam. Please answer questions to help me study.

1. Can the direction of a strategic change affect how difficult the change will be to implement? Why or why not? 2. Should prospective competitive responses to a strategic change be considered before the change is adopted? Explain. 3. What is the value chain, and why is it important? 4. What are the key physical resource considerations for the firm? Why are they important? 5. What four categories of alternatives can be generated from the SW/OT matrix? Provide an example of each