1a) Define and illustrate the concept of competitive advantage in the service and in the product industries; what are the most prominent differences, if any? Explain.

1b) If you were your company's CEO (present or past company), how would you promote a sense of urgency for sustaining a competitive advantage? Explain.

2) Review the product life cycle concept, and reflect on what might be some of the unethical practices that a manager could engage during the introductory stage to increase the company's market position? What can you do to prevent this in the future?

3) Define the strategic concept of a Joint Venture, provide an example of a successful JV and an example of a failed JV somewhere in the world -what are the leadership lessons learned from each example?

4) Many firms fail when they enter into strategic alliances with firms that link up with companies based in other countries. What are some reasons for this failure? If you were a strategist, what would you do differently? Support your view with an example, and substantiate your view with theory. What approach would you consider using when delivering this opposing view to the Board of Directors, in hopes of convincing them of your view?