In this lesson we will look at two perspectives relative to developing strategy: the industrial$-$organization $($I$/$O$)$ view and the resource based view $($RBV$).$ The resource$-$based view $($RBV$)$ approach to competitive advantage contends that internal resources are more important for a firm than external factors in achieving and sustaining competitive advantage. In contrast, the industrial$-$organization $($I$/$O$)$ view advocates that external $($industry$)$ factors are more important than internal factors in a firm for achieving competitive advantage and organizational performance will be primarily determined by industry forces.

$2.$ Read Strategic Management in Action Cases: Case #$1$ Out of Focus

a$.$ Explain Kodak's driving forces, implications, and critical success factors of the business environments.

b$.$ Discuss two organizational elements that guide Kodak's strategic decision makers in managing strategically in today's context.

c$.$ Discuss the roles of ethics and social responsibility in Kodak's strategic management.

d$.$ Describe the different perspectives on competitive advantage relative to Kodak. Present I$/$O view, RBV$,$ and guerilla view.