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I need help with these Strategic Management questions for my homework.

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Strategic Management: MGMT 4389 90L
Summer II 2019
Midterm Exam
Professor: Wanrong Hou
Due: August 7th, 8:00 AM, 2019
Please submit YOUR ANSWERS in a Microsoft Word file to "Midterm Exam" in Blackboard. Please
make sure your file is readable. Unreadable file will be considered missing and your exam grade will
be zero. Late work is not accepted.
Essay questions (please list the main points of your answers and explain the reasoning for each main
point; please take the slides from Blackboard as the reference when answering these questions)
1. Please briefly describe the major steps of the Strategic Management Process and the
key elements of strategy (Check out Chapter 1 slides, 20 points).
2. Please describe how the VRINE model is used to evaluate a firm's internal
resources. (Check out Chapter 4 slides, 20 points)
3. Who are a firm's stakeholders? Why are they important? (Check out Chapter 2
slides, 20 points
4. What is corporate-level strategy? What is business-level strategy? What are the
questions that each level strategy asks? (Check out Chapter 1 slides, 20 points)
5. What are the three perspectives of competitive advantage? Please briefly explain
each perspective. (Check out Chapter 1 slides, 20 points)
"MGMT Midterm.docx": 1,024 characters (an approximate value).
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