1. What are the three stages of the strategy-formulation process? Describe what is involved at each stage.

2. Define what is meant by the term core competency. How does it differ from a skill?

3. Some critics charge advertisers with creating wants among consumers rather than helping them satisfy needs. Select a product and describe how, if it were marketed in a developing economy, it can create wants and not satisfy needs. Explain the ethical issues surrounding the decision of whether to market the product in developing nations.

4. Explain the elements of a “Value Proposition” .  Why is it so important to have a clear value proposition?  What other “tools” would you most likely use with this for strategic planning?

5. Describe at least 5 ways in which Social Media and digital technologies can give you the opportunity to expand your business opportunities at the global level.