1. What are the benefits and risks of strategic management?

2. Describe the EPEST analysis in the external environment? Indicate three examples for each category (NOT sources).

3. Describe SWOT analysis as a way to guide internal analysis and its potential weaknesses. How does this approach reflect the basic strategic management process?

4. What forces drive industry competition in the external environment?

5. Explain when and why it is important for a company to globalize.

6. Describe corporate social responsibility and your view of how it will change the business landscape in the next ten years.

7. Describe the four main strategic orientations of global firms.

8. Suppose a competitor analysis reveals that the American subsidiary of your firm's German competitor is about to broaden its product mix in the American market by introducing a new line against which your company has not previously had to compete in the home market. The environmental analysis shows that the dollar-Euro exchange rate is weak, making American exports relatively less expensive in Germany. Do you recommend a defensive strategy, or do you attack your competitor in its home market? How will you implement your strategy?