Explain the role of knowledge in today’s competitive environment.
Answer to relevant QuestionsWhy is it important for managers to recognize the interdependence in the attraction, development, and retention of talented professionals? Look up successful firms in a high-technology industry as well as two successful firms in more traditional industries such as automobile manufacturing and retailing. Compare their market values and book values. What are some ...Briefly describe the three generic strategies—overall cost leadership, differentiation, and focus. Choose a firm with which you are familiar in your local business community. Is the firm successful in following one (or more) generic strategies? Why or why not? What do you think are some of the challenges it faces in ...Discuss some of the various means that firms can use to diversify. What are the pros and cons associated with each of these?
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