Learning Outcomes: - Recognize the basic concepts and terminology used in Strategic Management. CIO-1 Describe the different issues related to environmental scanning, strategy formulation, and strategy implementation in diversified organizations. CIO-2 Demonstrate how executive leadership is an important part of strategic management. CIO-5 Assignment Question(s): A. Discussion questions 1. How can a decision maker identify strategic factors in a corporation's external international environment? (2 marks) 2. Discuss the relationship between corporate governance and social responsibility? Give examples. (2 marks) B. Critical thinking Review the figure 4-3, p.110 from your textbook and answer the following questions: 1. Choose any example of industry from the real national or international market, and detail Porters' five forces framework with a graphic representation (2.5 marks) 2. According to Porter's framework, what determines the level of competitive intensity in your chosen industry? (1.5 marks) 3. Assess the threat of new entrants, and substitute products/services for your chosen industry. (1 mark) 4. Is your chosen industry attractive for investment? Why or why not? (1 mark) FIGURE 4-3 Continuum of International Industries Multidomestic Industry in which companies tailor their products to the specific needs of consumers in a particular country. Retailing Insurance Banking Global Industry in which companies manufacture and sell the same products, with only minor adjustments made for individual countries around the world Automobiles Tires Television sets