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PART 1: (10 points) Michael Porter contends that a corporation is most concerned with the intensity of competition within its industry. Basic competitive forces determine the level of this intensity. These are the threat of new entrants, rivalry among existing firms, threat of substitute products or services, bargaining power of buyers, bargaining power of suppliers. Discuss through practical example (select a particular industry or company) each of the five competitive forces of Porter's approach to industry analysis and show how each force can be regarded as a threat or as an opportunity for the company. PART 2: (7 points) Barney, in his VRIO framework of analysis, proposes four questions to evaluate a firm's competencies. Discuss through practical example (select a particular company) how the answer to each of these questions could be considered as a strength or a weakness for the firm. PART 3: (3 points) According to Miles and Snow, specify the basic type for each of the following strategic groups: 1- A group of companies that focus on efficiency in their work: 2- The group of companies that owns a small number of products in a limited market: 3- The group of companies that avoid high risk conditions in the interim: 4- The group of companies that focuses on effectiveness in its work: 5- Group of companies that do not have a specific strategic orientation: 6- Group of companies operating under high risk conditions in the interim: A) Reactors B) Prospectors C) Analyzers D) Defenders