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Strategic Management: Strategic Managment
Gregory G. Dess, University of Texas at Dallas
G.T. Lumpkin, University of Illinois--Chicago

Assessing the Internal Environment of the Firm

Summary Review Questions

1. SWOT analysis is a technique to analyze the internal and external environment of a firm. What are its advantages and disadvantages?

2. Briefly describe the primary and support activities in a firm’s value chain.

3. How can managers create value by establishing important relationships among the value-chain activities both within their firm and between the firm and its customers and suppliers?

4. Briefly explain the four criteria for sustainability of competitive advantages.

5. What are the advantages and disadvantages of conducting a financial ratio analysis of a firm?

6. Summarize the concept of the balanced scorecard. What are its main advantages?