2. In the simulation, would business level strategy be (please bold or color your answer): a. Company strategy (for example Chester's strategy for how to be successful in the simulation)? b. Segment strategy (for example, Baldwin's strategy for achieving competitive advantage in the low-end segment)? c. Decision-making area strategy (for example, Digby's strategy for managing production)? 3. A. What does economic value creation have to do with business strategy? B. What are the two main ways that companies can choose to maximize value (also knows as the two generic business strategies)? C. Why do companies usually choose one or the other strategy, not both? 4. In the simulation is there any company pursuing a "focused" business strategy? If so, which company and what is their strategic position (using Exhibit 6.2 as a guide)? 5. A. What is the goal of a differentiation strategy? B. Please provide an example* of a company that follow a differentiation strategy and explain how it can be seen that they do this. 6. Look at the following illustration: which firm has achieved the most competitive advantage? a. Firm A b. Firm B c. Firm C 7. Please list and describe (in 1-2 sentences each) the 3 primary drivers of a differentiation strategy. Provide an example of a company that uses one of these drivers to create their competitive advantage. 8. A. What is the goal of a cost-leadership strategy? B. Please provide an example* of a company that follow a cost-leadership strategy and explain how it can be seen that they do this. 9. Look at the following illustration: which firm has achieved the most competitive advantage? a. Firm A b. Firm B c. Firm C 10. Please list and describe (in 1-2 sentences each) the 4 primary drivers of a cost-leadership strategy. Provide an example* of a company that uses one of these drivers to create their competitive advantage. EXTRA CREDIT: Worth 1 point each 11. Is the way that accessibility works in the simulation an example of: a. Economies of scale? b. Economies of scope? c. Complements? Briefly explain: 12. Provide a real-life example* of a company that used an experience curve to create competitive advantage