8 Short answer questions. The first 4 are to be answered by themselves and the last 4 are answered with the knowledge of the case study provided.
An example of a quality answer to a question is as follows:
What is the connection between the competitive advantage of a firm and the competitive advantage of a nation? Explain the nature of the relationship between firms and nations.
Answer-
In a fast evolving and intensively competitive global environment, firms who stay still in their offerings of products and services face elimination quickly. The competitive advantage of a firm is derived from its ability to maintain (1) efficiency (in usage of firms resources) (2) flexibility (in adapting to new challenges) and (3) organizational learning (to continually innovate). The aggregate innovative capacity of a nation derives from the collective innovative capacity of its firms. The more innovative firms a nation has, the stronger that nations competitive advantage. Innovation also promotes productivity, the value of the output produced by a unit of labour or capital. The more productive a company is, the more efficiently it uses its resources. The more productive the firms in a nation are, the more efficiently the nation uses its resources. At the national level, productivity is a key determinant of the nations long-run standard of living and a basic source of national per-capita (per-person) income growth.
