MidTerm Questions, cost production, business and finance homework help

Question1  Isit possible for a company to be the lowest cost producer in its industry andsimultaneously have an output that is most valued by customers?Question2  Underwhat environmental conditions are price wars most likely to occur in anindustry? What are the implications of price wars for a company? How should acompany try to deal with the threat of a price war?Question3  Evaluatethe accuracy of the following statement: Formal strategic planning systems areirrelevant for firms competing in high-technology industries where the pace ofchange is so rapid that plans are routinely made obsolete by unforeseen events.Question4 Why is it important to understand thedrivers of profitability, as measured by the return on invested capital?Question5  Whichis more important in explaining the success and failure of companies:strategizing or luck?Question6  Whatdo you think are the sources of sustained superior profitability?Question 7  What role can topmanagement play in helping a company achieve superior efficiency, quality,innovation, and responsiveness to customers?Question 8 Whatare the strengths of formal strategic planning? What are its weaknesses?Question9  Whenis a companys competitive advantage most likely to endure over time?Question10  Fromwhat perspective might innovation be called the single most important building?