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Draft a response to each of the bulleted questions below. Each question must have its own response and have a minimum of 75 words.

1. Can firms combine the generic strategies of overall cost leadership and differentiation? Why or why not?

2. Explain why the industry life cycle concept is an important factor in determining a firm's business-level strategy

3. How can companies benefit from related diversification? Unrelated diversification? What are some of the key concepts that can explain such success?

4. Discuss some of the various means that firms can use to diversify. What are the pros and cons associated with each of these?

5. When it comes to international business ventures, how does regulation impact business?

6. Environmental concerns are always an issue when exporting and importing goods to and from other countries. What federal regulation governs the handling of hazmat products? What about organizations like the EPA and OSHA? Do they have a say?

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