please answer the 2 questions on the bottom

Case Analysis Page 3 LEARNING FROM MISTAKES What makes the study of strategic management so interesting? Things can change so rapidly! Some start-ups can disrupt industries and become globally recognized names almost overnight and the rankings of the world's most valuable firms can dramatically change in a brief period of time. On the other hand, many impressive, high-flying firms can struggle to reclaim past glory-or fail altogether. As colorfully (and ironically! noted by Arthur Martinez, Sears's former Chairman: "Today's peacock is tomorrow's feather duster." Consider the following:2 The 33-year average tenure of companies on the S&P 500 in 1962 narrowed to 24 years by 2016 and is forecast to shrink to merely 12 years by 2027. At the beginning of 2000, the four firms in the world with the highest market values were General Electric, Exxon Mobil, Pfizer, and Citigroup. By late 2019, four tech firms headed the list: Apple, Alphabet (parent of Google), Amazon, and Microsoft. Record private equity activity, a strong M&A market, and the growth of start-ups with billion dollar market caps (called "unicorns") are often viewed leading factors to increase disruptions in a wide variety of industries. A quarter century ago, few would have predicted that a South Korean firm would be a global car giant, an Indian firm would be one of the world's largest technology firms, and a huge Chinese Internet firm would list on an American stock exchange. . In 1995, only about 3 percent of the companies on the Fortune 500 list were from emerging markets. This number has increased to 26 percent in 2013, and is predicted to grow to 45 percent by 2025. . With the emergence of the digital economy, new entrants are shaking up long-standing industries. After all, Alibaba has become the world's most valuable retailer-but holds no inventory; Airbnb is the world's largest provider of accommodations-but owns no real estate, and Uber is the world's largest car service--but owns no cars. Retail has become one of the prime examples of an industry that has been impacted by the digital disruption and the emergence of online competitors. Many brick-and-mortar (i.e., high asset intensive) firms such as Bed, Bath & Beyond, Urban Outfitters, Sears, Radio Shack, and J.C. Penney have either filed for bankruptcy, or have become mere shadows of their former selves. Let's take a closer look at another retailer, Mattress Firm, which filed for bankruptcy on October 5, 2018.3 Houston-based Mattress Firm was founded 1986 and eventually grew to more than 3,200 stores and $3 billion annual revenues. However, its pursuit of growth and dominance-largely via acquisition in the industry led to its eventual demise. A turning point came 2015 when it purchased one of its chief rivals, Sleepy's, for $780 million. Steve Stagner, Mattress Firm's CEO at the time asserted. This transformational acquisition unites the nation's two largest mattress specialty retailers providing customers with convenience, value, and choice." However, things certainly didn't turn out as he had hoped. Acquiring Sleepy's 1,000 stores left Mattress Firm severely over-retailed. As store traffic slowed, costly leases turned into an albatross around the firm's neck. In bankruptcy court filings, the rapid expansion led to the "cannibalization" of stores that were clustered too closely and put them in direct competition with each other. This was poignantly stated by Hendre Ackermann, the firm's CFO: "There are many examples of a Mattress Firm store being located literally across the street from another Mattress Firm store." Mattress Firm's fortunes were also eroded by a set of more nimble competitors: online upstarts, including Casper, Lessa, Tuft & Needle, and Sapira. For example, Casper Sleep, Inc., founded in 2014. raised $240 million to sell mattresses directly to consumers. It provided easy online ordering. hassle-free delivery, and returns of reasonably affordable mattresses. Within a year, Casper booked sales of $100 million. The online rivals also had another major advantage over Mattress Firm: Shoppers had grown weary of the traditional mattress-buying experience. This involved going into a store, testing out a slew of mattresses for a few minutes, and rushing into a decision on an expensive item designed to last for years. And, customers were often annoyed by complicated and expensive delivery options. As noted by Casper's co-founder and CEO, Philip Krim, "Traditional mattress retailers have been alienating customers for decades and are now buckling under pressure. Casper has turned a tired industry on its head with innovative products and a superior shopping experience. Recently, Casper expanded its direct-to-consumer online business into a wide variety of products including bed frames, sheets, pillows and dog mattresses. Page 4 Discussion Questions 1. What actions should Mattress Firm have taken when it became apparent that there were some nimble, online rivals entering the industry? 2. Casper Sleep Inc. has certainly become a strong competitor in this industry. In your view, what could they do to further strengthen their position? Today's leaders face a large number of complex challenges in global marketplace. In considering how much credit (or blame) they deserve two perspectives of leadership come immediately to mind: the romantic" and "external control" perspectives. First, let's look at the romantic view of leadership. Here, the implicit assumption is that the leader is the key force in determining organization's success or lack thereof. This view dominates the popular press business magazines such as Fortune Bloombere Businessweek and Forbes wherein the CEO is either lauded for his or her firm's success or chided for the organization's demise 6 Consider for example the credit that has heen bestowed on leaders such as