Question: Short Answer Questions 1. How do life cycle stages affect the decision process of businesses? 2. Explain why a new product tends to follow a

Short Answer Questions 1. How do life cycle stages affect the decision process of businesses? 2. Explain why a new product tends to follow a life cycle. 3. Where are the value creation opportunities in a consolidating industry? 4. Why do industries consolidate? 5. How does a fragmented industry offer opportunities for expansion? 6. Explain why a first mover is so successful. 7. How is being a first mover also dangerous for an organization? 8. How do companies initiate a pattern of continuous renewal? 9. Why is renewal so difficult to achieve for established organizations? 10. What unique issues does fast growth require management to address? 11. Which is more important, product innovation or process innovation? 12. Which degree of innovation should a company pursue, incremental innovation or radical innovation? 13. Why do companies seek to grow internationally? 14. International value creation opportunities are best under what circumstances

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