1. Why is there a need for vision statement?

2. Distinguish mission from vision.

3. Differentiate narrow from broad mission statement.

4. Characterized what is considered strategic vision.

5. Briefly discuss how vision and mission statement should be communicated.

6. Briefly discuss the nature and context of competitive strategy.

7. Distinguish price-based from project-based strategy.

8. Discuss the relevance of cost drivers in the competitiveness of the business firm.

9. Distinguish offensive from defensive strategy.

10. Among the options for offensive strategy, which is appropriate for industry leaders? Justify your answer.