Question 1: A) Defend or refute the statement: "Strategic groups do not impact competitive rivalry within an industry." B) Explain mobility barriers between strategic groups. Refer to the example of the U.S. airline industry. Question 2: A) The critical assumptions of the resource-based model of a firm are fundamentally different from the way in which a firm is viewed in the perfectly competitive industry structure. Elaborate on this statement and give an example. B) List the four isolating mechanisms that act as barriers to imitation. Give one example. Question 3: What are the drawbacks of using total return to shareholders and firm market capitalization to measure firm performance? Question 4: Discuss the limitations of the economic value creation framework. Give an example and compare this framework to explanations that focus only on cost minimization. Question 5: Companies that pursue related diversification are more likely to improve their performance than companies that pursue unrelated diversification. Elaborate. Question 6: What are the three types of specialized assets? Elaborate and give an example. B) Why do investments in specialized assets tend to incur high opportunity costs? Elaborate and give an example. A)