weekly boards

Class,

Welcome to week three. This week, we will be discussing and introducing (or reintroducing) you to several new topics, including:

• The PESTEL framework
• The VRIO framework
• Total Quality Management
• And others…..

WEEK THREE ASSIGNENT

1. Read chapter 3, The external environment, and chapter 4, The internal environment, of the textbook.
2. Watch the video, “The Explainer: The 5 Forces That Make Companies Successful”  https://www.youtube.com/watch?v=XCWHSeDU-zk and answer the following questions:
   1. Which of the five forces do you see as the greatest threat to a company’s long-term ability to cope with competition?
   2. In your own words, explain how Porter’s Five Forces Model will remain an applicable approach to competition in a post-pandemic world.
3. Read the article, “How Competitive Forces Shape Strategy ” (will attached PDF) by Michael Porter.   
4. Select ONE (1) of the following three questions to answer:
   1. What is meant by the industry life cycle stages and give an example of a company that has moved through the stages.
   2. What is the meaning of VRIO framework and why is it important?
   3. What are the two types of benchmarking and when are they used?

FORUM INSTRUCTIONS

Your initial post should be at least 250 words, not including repeated questions, references and quotes. 

You are to respond to at least two other students.  Each response must be a minimum of 100 words and include an applicable direct question.

Your initial post is due by:  Thursday, 11:55 p.m., ET
Your responses are due by:  Monday, 11:55 p.m., ET*

*Because Saturday is Christmas, the deadline for all responses has been moved by one day.  Take the day off and enjoy time with friends and/or family!

Regards,
Prof. Chris Hooper