Think about what you read in chapter four and apply the concepts that best answer these questions.

$1.)$ What tangible and intangible resources does your favorite restaurant have that might give it a competitive advantage?

$2.)$ Do any of the resources or capabilities of your favorite restaurant have the four qualities of resources $($VRIO$)$ that lead to success as articulated by resource$-$based theory?

$3.)$ What designs for your college or university are protected by trademarks?

$4)$ What type of intellectual property provides the most protection for firms?

$5).$ If you were hired as a consultant for your university, what specific element of the value chain would you seek to improve first?

$6.)$ What local business in your town could be improved most dramatically by applying the value chain? Would improvements of primary or support activities help to improve this firm most? Could knowledge of strategic supply chain management add further value to this firm?