Questions_for_master_exam_Strategic_management_3.pdf - Questions for master exam STRATEGIC MANAGEMENT SPECIALIZATION 1 Define the concept of strategy

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Questions for master exam STRATEGIC MANAGEMENT SPECIALIZATION 1. Define the concept of strategy and discuss the model of strategic management. 2. Characterize the sources of competitive advantage in modern firms. Compare M.E.Porter ’s approach (low cost/ differentiation) with the RBV (Resource-Based View, VRIO model). 3. What is the role of environment analysis in strategy formation? Characterize 5 forces model, strategic group analysis and stakeholder analysis. 4. What is the role of organizational analysis in strategy formation? Characterize benchmarking analysis, comb analysis, and value chain analysis. 5. Characterize two ‘portfolio planning’ methods (e.g. BCG matrix) and discuss their role in strategy formation. 6. What are the possible applications of Ansoff’ s growth matrix? 7. Which factors increase the risk of a price war in a given industry? You may use airline industry as a point of reference. 8. Describe the key features of an innovation. What are the characteristics of an
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