CH1 1. Define strategic competitiveness, strategy, competitive advantage, above-average returns, and the strategic management process. 2. Describe the competitive landscape and explain how globalization and technological changes shape it. 3. Use the industrial organization (I/O) model to explain how firms can earn above-average returns. 4. Use the resource-based model to explain how firms can earn above-average returns. 5. Describe vision and mission and discuss their value. 6. Define stakeholders and describe their ability to influence organizations. 7. Describe the work of strategic leaders. 8. Explain the strategic management process.

Ch2 1. Explain the importance of analyzing and understanding the firm’s external environment. 2. Define and describe the general environment and the industry environment. 3. Discuss the four activities of the external environmental analysis process. 4. Name and describe the general environment’s seven segments. 5. Identify the five competitive forces and explain how they determine an industry’s profitability potential. 6. Define strategic groups and describe their influence on firms. 7. Describe what firms need to know about their competitors and different methods (including ethical standards) used to collect intelligence about them.
CH3
1. Explain why firms need to study and understand their internal organization. 2. Define value and discuss its importance. 3. Describe the differences between tangible and intangible resources. 4. Define capabilities and discuss their development. 5. Describe four criteria used to determine whether resources and capabilities are core competencies. 6. Explain how firms analyze their value chain for the purpose of determining where they are able to create value when using their resources, capabilities, and core