Please address all the issues described below in a complete but concise manner. All elements/parts of each question should be addressed. Your answers can include any company examples/cases discussed in class, in lectures, student presentations, or readings, as well as any other examples you may consider relevant. Please reference all material that is not your own original thought or discovery.

The questions require you to think critically about strategic aspects. All ideas should flow logically, with arguments that are identifiable, reasonable, and sound. The content should indicate synthesis of ideas, in-depth analysis and evidence original thought and support for each topic. No inconsistencies should be apparent. You may include your own opinions, as well as documented arguments and examples.

Please note that each issue is independent of the others. You can, however, use the same organization as an example more than once in your submission, provided that a clear and accurate explanation of how the organization's actions or situations are relevant is given.

Your submission should be well written and free of editorial and spelling mistakes. Please identify clearly your answer to every question/issue (it would be helpful to use the same numbering system). Please use Times New Roman, 1.5 point and no cover page. Place your name in the top right hand side corner of the first page. There are no other formatting requirements.

There are no length expectations, but it is recommended that you use no more than two pages to answer each of the five questions.

PLEASE SUBMIT AS ONE FILE ONLY.

1. Provide three reasons why some firms perform consistently better than others. Explain each reason and bring argument(s) for each. Describe the example of one real organization that has consistently recorded performance better than that of their competitors.

2. It is argued that "Industry factors may either increase or decrease average firm performance, depending on whether firms have established competitive or cooperative relationships with each other. In most cases, these relationships are both competitive and cooperative. How these two sides of a relationship are weighted over time determines how much industry factors drive profits down. "Agree or disagree with this statement. Please explain and bring arguments to support your position. You may include examples or personal observations in your answer.

3. Partnerships (including alliances and M&A) have become an important part of strategy execution. List and explain three motivations which drive firms to partner with each other. Please include at least one example (for one of the motivations) in your answer.

4. Many partnerships can be viewed ex post as having been quite successful even if they engendered quite a bit of conflict and were perceived as very difficult to manage. How would you define the success of a partnership? You may discuss this issue in general terms or refer to a specific and real example.

5. Empirical findings suggest that multi-business companies sometimes face a diversification discount. How can the discount be mitigated